I'm seeing a lot of people posting about how they got letters/emails regarding bonus payouts. I have received nothing, curious to know if it's state/location or operational area specific. Any insights appreciated.
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Thanks for the info, I called HR and my email wasn't on file.
@@rfn+1rjFX2fo that what you want us to believe... You in HR trying to protect the company?
Call HR
You need to make sure they have your personal email on file. Believe it or not I had to call MyHR to get this updated. I would call MyHR
The pro-rata phrase refers to the percentage of base pay you are supposed to receive. If you recall they rigged it in 2022 to convert the flat bonus pay to percentage of salary and each person gets a different percentage. It’s not prorated for number of months worked. Annual bonus eligibility implicitly requires that individual worked all 12 months of the year which is why Schwab kindly kept the laid off on payroll until EOY.
Doubt it. Check your spam. It lays out the formula for the bonus and says it will be paid March 8th. Don't ask me to explain the formula though because it didn't make any sense to me. They could drop my name in, but couldn't just say how much I'll be getting. Here's the formula they provided.
$ of Individual Funding (pro-rata Average Bonus Opportunity % x base pay)
x 90% Individual Bonus Allocation
x 72.96% Corporate Bonus Plan funding
I don't believe that is the case, we were all employee for entire year
Hope you’re right, but given the sh-------r that is the EC…
Adding that you’ll get a statement in the mail mid-March.
The email you are referring to came from HR, not your former PL.
If you are one of us, the laid off people who have a business checking this website and being here, you are gonna get your bonus, an email came out yesterday, it really has no significance if you got it or you did not, We will be all treated the same way.
Email said: 90% bonus allocation for RIFed employees, you get 73% of it, so your bonus is:
ABO * 0.9 * 0.7296, now there is a pro-rata quote in the email that some are taking it like there will be another adjustment of 10/12 for months you worked, but I don't believe that is the case, we were all employee for entire year (given you joined Schwab before 1st January 2023). that is what we know, in a nutshell.