Annual Bonus: handed in notice am entitled to bonus or a fraction of it?

[pela14]

Hi. I'm working for an internet company and in two weeks I'll be getting my annual bonus. At the same time I started a business and cant keep working any longer for the internet company. Even though I'll give my monthly notice this week, would I still be entitled to that bonus or a fraction of it? Thanks. Pela14

 

[mercman]

Re: Annual Bonus

Unless you hold off to give your notice for a while, you either will not be given the Bonus or will be asked for it back. (your employer could simply deduct it from your final wages). This was on a previous Post concerning Bonus payments and a similar set of circumstances

 

[pela14]

Re: Annual Bonus

Thanks mate. Good to know

 

[Pique318]

Re: Annual Bonus

I asked a similar question a couple of months ago and as I handed in my notice, I was ineligible for the bonus for 2007 (complete crock imo but there you go) as it was in the policies that the bonus was a 'carrot' to keep you rather than reward you for the previous years hard work.

However, my new company have no such policy and if you were due a bonus for 2007 and handed in your notice on 1/1/2008, you will still receive the 2007 bonus !

 

[Complainer]

Re: Annual Bonus

Wait until you have the bonus in your account (cheque cleared) before handing in your notice. If your new employer is putting on pressure, give them the option to 'buy out' your bonus, so you won't be at a financial disadvantage.

 

[Purple]

Re: Annual Bonus

I’m a bit old fashioned when it comes to things like this. My advice is to act in a way which you consider to be honourable. Don’t sacrifice your integrity for a few Euro.
If you consider Complainers advice to be honourable (and it may well be if your employer is messing you around) then this is probably the best course of action.

 

[ajapale]

Re: Annual Bonus

Moved from Askaboutlaw to Work, Careers, which is where employer/ee rights and responsibilities are discussed.

aj
moderator

 

[highly]

Hi

Be very careful - if we hand in our notice, we don't get a fraction of our bonus. In our employee handbook it clearly states that an employees are not entitled to their bonus if they are on their notice period.

FYI - our bonus is about 40% of our total salary.

For the sake of 2 weeks; I'd want the money in my bank account - remember, your bonus is your back pay, so hang on for it.

 

[Purple]

remember, your bonus is your back pay, so hang on for it.

That depends on what the bonus is for. This should be stated in your contract.

 

[shipibo]

That depends on what the bonus is for. This should be stated in your contract.

Surely a bonus is for work done during bonus period, not to keep you there.

Overtime is a much simpler option.

 

[Complainer]

Surely a bonus is for work done during bonus period, not to keep you there.

Absolutely - if the employer wants a long-term incentive programme to keep employees, they should be looking at something like stock options or other long term programmes.

 

[Purple]

Absolutely - if the employer wants a long-term incentive programme to keep employees, they should be looking at something like stock options or other long term programmes.

I don't disagree that in many cases this is a better method but there is nothing wrong with using a bonus structure to reward loyalty. Few things in life are black and white.