Hearing about a bonus in December but cannot find information. If so, will it be paid if laid off before December?
22 replies (most recent on top)
It's a cardboard box for your desk so you can quickly pack on the next round of layoffs
@zw AIP and LTI are 2 completely separate programs, with separate funding pools. And below grade 17, LTI is all cash (no stock / RSUs). Perhaps you should read the details of these compensation plans if want to better understand. They're available on MyHR -> Total Rewards.
@w4 it may be 2 separate programs on paper, but both are year end performance based bonus programs, no different than every other big bank in the country. The more you make the higher % of your year end comp is allocated to long term stock RSUs
You DO get a bonus payout in December IF you got a long term LTI bonus award in February AND you have 10+ years of service AND you are 55 years or older. LTI is awarded to grade 14 or higher.
No but the office party will have stocking stuffers as follows (limit only 1 item stocking per employee)
Sanitizing wipes
Instant curry mix, canned tuna, and hot sauce
Roll of quarters (for parking)
@px You are wrong. It is 2 completely separate programs: AIP and LTI.
There's a bonus everyday.
@kf that’s all part of the annual comp package it’s not 2 separate bonuses, it’s the same at every bank I’ve worked for, the higher you get the more your comp is paid in long term incentives with stock. It’s not like they are 2 bonuses based on different criteria or timing.
@jh Not @a4 here, but UH YEAH there are. There's annual incentive paid out in late Feb or early Mar, and LTI (long term incentive), which gets "awarded" annually and paid out over 3 years. There are more complexities to it than that depending on pay grade, age, and years of service, but that's the gist of it.
@a4 da fuq are you talking about. No there aren't
I work in Treasury and we give ourselves bonuses every month.
@e3 LOL you not wrong.
@bv Sachs. Lol.
Reeks of a nosy retail branch employee trying to learn about incentives.
You are hearing about a bonus in December? Why don't you ask your boss? Like it's a secret bonus? It's not in 'my rewards'? Are you in some type of sales role? The only other possibility I can even think of is if OP is turning 55 and will get his long term payout in December. After 55 you get that paid in December for the year you got it (you don't have the 4 year payout)
Maybe this was meant for the Goldman Sachs section.
Explain to me what bonuses have to do with layoffs?
Hopefully Elavon will have a new CEO and a new leadership team in place in December and we won't have to endure another year like this year or the last 5 years. That would be a terrific bonus and would be welcomed by the rank and file Elavon/MPS/PMI people.
OP, if you aren't trolling and truly looking for information then you will need to at least give us some information from your end without outing yourself. Otherwise "it depends" is all you will get.
@a4 huh? There are not 2 bonuses your bonus is split between cash and long term incentive that you get over 3 years maybe sales folks get multiple, most sales gets quarterly or 2x annual
I suspect it depends on your business line. I have been at the bank 30+ years in various positions and different lines and have never received a bonus other than annually in February/March, but communicated with my annual performance review in December/January.
If you’re grade 14 or higher there are 2 bonuses a year but not for the worker bees.