Is the retention bonus designed to stop people leaving/resigning and that these folks will have a job in BC OR is it just a short term stay-on-bonus and then they will be made redundant
I'm wondering the same thing.
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As i understand, these bonuses were given by the level above your own direct manager. Does anyone know what criteria was used to determine who should get these bonuses? Did your direct manager advocate on your behalf or something? I can't imagine anyone above my direct manager knows my name let alone whether I'm integral to the company or not.
While I am sure we have had retention bonuses in my particular area this is the first time anyone in the department has been given one.
I am in Product and got the retention bonus. It is not just sales and support.
Paid quarterly over 3 years.
To an earlier poster.
It IS quarterly in that payments are every 3 months throughout a certain period, if u stay.
I've heard some people are getting up to 50k.
This is BS and has nothing to do with the acquisition. Retention bonuses are always given to key folks in key projects and at VMware they do it every year in the third quarter when finance leadership has a better forecast of where the annual budget will land. They are used to retain people during the timeline of those projects and be able to finalize it. This is not new and always occur in the company. I know it happened last year and the one before that.
It's just what the name says: a "retention" bonus. This means the new management still needs you to complete the hand over. While it might be possible to continue your gainful employment afterwards, don't bank on that.
It is actually an ideal situation: you get a 6-9 (maybe 12, if you're special) months retention bonus, and if you operate on the assumption it is an end of the line thing, you can start looking for alternatives, interview, set your own conditions ("start date no earlier than X") and so on. You will end up on top and with a decent stash of Benjamins.
Be happy and grateful if you get that.
"Definitely support. Paid quarterly. Select few."
That's how I know you are full of sh-t. No company would pay a quarterly bonus. Even VMware moved to annual!
Definitely support. Paid quarterly. Select few.
It’s across the board not just Sales and Support. So if not on list, high chance we are disposable.
Support are not getting it, i believe its Sales/SE in key strategic teams and regions
Not just a sales thing from what I know, if this helps.
Though this is not a sign that you have a job with Broadcom it definitely appears to showcase employees who, at this time, VPs / Leadership think are worth keeping, so the support network is already there for when Broadcom asks leaders who to retain.
Much of my team is run down for many things and just the leadership chain is broken after departures. A lot of our hope and innovation and any thing we want to do to help VMW is like washing the car in a thunderstorm.
Raghu is what the board wanted to help insure the least amount of resistance when the inevitable came (sale of VMware) and it shows by the recent, sometimes difficult to watch Explore keynote. The charisma of previous leaders is gone just like the VMworld branding.
@1lcw+1iVC6CXe
Is this company wide or only in sales and support?
I can confirm this is a real thing. I'm not one of the lucky ones, but VMware appears to already have list of people they deem valuable to retain if they're trying to keep people. It's kind of hard to not quiet quit when the projects you're working on might not matter after the acquisition nor do you feel like you are an asset.
The departure of a recent VP doesn't improve the optics if they passed up, from what I know, a really nice quarterly retention bonus. Best of luck fellow minions!
There's a retention bonus? Lmao, I'm in sales support and didn't get one.
Note: if you got one of these bonuses, this probably means that
Apparently it’s to reduce attrition not because of Broadcom.
Is this only for sales and support?