So last year I was a bus execution consultant. Got about 7.5% bonus on a meets/meets.
Was then promoted to sr bus execution consult. Which I think an increase in pay structure and hoping to see what others in that role got last year. And if there is a max amount of bonus increase from previous years. As always, I hope all have a great weekend and NY.
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Got a meets and was then promoted? Interesting. Anyway, your bonus will likely not go up by some extreme amount. The bonus pool is funded based off of last year bonuses. So if last year the entire team collectively received $100k in bonuses, that's the starting point of the bonus pool. If bonus pool funding is up 3%, then this year there's $103k available for the manager to allocate. So you see, even when bonus funding is up, it doesn't really add a ton of money to the pot. Having said all of this, your bonus will likely be close to what you got last year, maybe up to $7.8k.
I’m curious too. If it’s up to 20%, does meets start at 10%? Does anyone know the scale?
a couple of years ago they moved to the TVC Y/Y change concept - there are no bonus targets for specific role levels. The bonus is determined by your prior year bonus level, this year's performance and the available pool. Promotions no longer mean a jump in bonus.
There is indeed a year over year top out bonus (salary increase as well since we’re talking) but, as with everything, it just takes a conversation with leadership to get the adjustment approved. As long as the overall #’s fall within the approved budget.
I both understand the reasoning for the limits and the frustrations it can create for managers attempting to appropriately reward performers. Undoubtedly an exception granted this round would raise flags, if not a flat out denial, next round if required again.
with promotions you should see an increase more inline with what others in the role are getting, but I wouldn't hold your breath.
You bring up a great question. Supposedly it is supposed to be TVC but I wonder if there actually is a yr over yr top out for bonus amount.