I have a job all lined up (was hoping to get LR'd today, alas I did not plan as well as I thought). I am going to give the courtesy 2 weeks, I am not leaving to a competitor, I am leaving for a higher position with my skill set. Can I expect a bonus at all, or will my IPF just be artificially low because I am hightailing it out of town? When do managers have to submit IBF before?
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I tried some similar sh-- when I left. Got assurances from my manager that I'd get bonus. Got nothing. Called director and she sent me a nice email:
"You resigned from Cisco and your last day was prior to the bonus allocations being made.
When I made the bonus allocations I made the choice to allocate my full bonus budget to the rest of the team."
@OO7zYJt Congrats!!!
The bonus paperwork might say that you earn your bonus if your worked past the end of the Fiscal Year mark, but at the end of the day you manager has until ~3 weeks before the bonus get paid to change it in the tool. and then, it still get finalized at the VP / GM level (horse trading as each BU has their specific budget)
So my advise, if the bonus is material, stay until it is paid as there are chance it might go to zero. Your manager might not want to punish you, but his boss who does not really have a relation with you might want that budget for someone that is at rick of leaving and use "your" bonus $ to secure that individual.
When negotiating with your next employer, you should say what you leave on the table if you leave now vs waiting. They might tell you they are willing to wait, or potentially bridge the gap with a sign in bonus
Ex-Cisco-Sr-Manager
@OO7zYJt-iyl: Totally agree. You will either have to defer the new job until your bonus ACTUALLY hits your checking account or just bail now, write it off as bad timing and move on.
Remember this is bonus payment for last year's work so before July 30th. You are eligible for the reduced bonus payment Cisco are making this year as you were in employment on that date. Unfortunately there is no guarantee your manager won't screw you with an artificially low IPF multiplier when s/he discovers you are leaving.
Good luck with that - the same scenario happened with people on my team LRed last Aug. They received their bonus as part of the separation package but their IPF was set so low (.1 to .2) it ends up being chump change.
if you have worked till the last day on the previous fiscal then you get the bonus.