Impact of resignation on bonus

spiff

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This. Bonuses, unless specifically mentioned in the contract otherwise, can be withheld and denied at any time. My company specifically states that if you leave, you ain't getting a bonus, as simple as that. So better stick to your guns until the bonus is paid.


You have a problem with that? Worked his ass off for a year and he loses his bonus on, well, pretty much a technicality?
watch my lips - I said "ONLY AFTER" he got his bonus!
 

The_MAC

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watch my lips - I said "ONLY AFTER" he got his bonus!
The question is, after it is physically paid into my account or when I get my bonus letter? Letter is due to come out in the next week or so.
 

GoB

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Have you seen that video... Ozzy man Finger Fight ?

That's probably the scenario which plays out no matter how fair a company claims to be.
 

Toxxyc

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watch my lips - I said "ONLY AFTER" he got his bonus!
I think I misunderstood your post. That emoticon makes it look like you disapprove of him getting his bonus and then running :D
 

Snyper564

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The question is, after it is physically paid into my account or when I get my bonus letter? Letter is due to come out in the next week or so.
Letter should be fine. We also get letters our side and I think to some degree that letter would be binding.
 

Toxxyc

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Our letters state that if you resign before the bonus is paid, it will be forfeit.
 

Mike Hoxbig

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Letter should be fine. We also get letters our side and I think to some degree that letter would be binding.
Still not something I would chance. They might be able to pull some T&C out to show you how they don't have to. Then you have to go the legal route. Way more effort than it's worth.

I personally would only start looking around a month before bonuses.

Maybe OP can ask the new place for a later starting date and see how receptive they are to it...
 

The_MAC

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Still not something I would chance. They might be able to pull some T&C out to show you how they don't have to. Then you have to go the legal route. Way more effort than it's worth.

I personally would only start looking around a month before bonuses.

Maybe OP can ask the new place for a later starting date and see how receptive they are to it...
The new opportunity came knocking on my door, I didn't go out looking for it, and by the looks of it things are moving fast on the other side.

It would be a huge loss as I got a 35% bonus increase and met the targets this last year
 

mushroom

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You can give 1 minute notice thats what i did do when i did work by the shop coz the new work did want me to start on the monday but the ppl by the shop did say i must give them a month leka jas ja so i did just give a minute notice en klaa and i did evans get my leaf pay so i think you must get your bonus still
 

signates

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You can give 1 minute notice thats what i did do when i did work by the shop coz the new work did want me to start on the monday but the ppl by the shop did say i must give them a month leka jas ja so i did just give a minute notice en klaa and i did evans get my leaf pay so i think you must get your bonus still
What kak is this.

You write like my 5 year old speaks. Did, did, did, did...
 

The_MAC

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You can give 1 minute notice thats what i did do when i did work by the shop coz the new work did want me to start on the monday but the ppl by the shop did say i must give them a month leka jas ja so i did just give a minute notice en klaa and i did evans get my leaf pay so i think you must get your bonus still
leaf pay? was is dis?
 

CamiKaze

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If it's at manager's discretion then you will definitely be forfeiting your bonus.
 

The_MAC

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If it's at manager's discretion then you will definitely be forfeiting your bonus.
I am struggling to find info on my exact scenario in the companies bonus policy - I want to be 100% sure but unfortunately cannot ask around without raising alarm bells + nothing is in the bag yet
 

CamiKaze

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I am struggling to find info on my exact scenario in the companies bonus policy - I want to be 100% sure but unfortunately cannot ask around without raising alarm bells + nothing is in the bag yet
Dude... your employment contract states some STI performance bonus and increases and stuff. There might be wording along the lines of "At managers discretion".
Open your contract and find that wording.
 

The_MAC

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Dude... your employment contract states some STI performance bonus and increases and stuff. There might be wording along the lines of "At managers discretion".
Open your contract and find that wording.
Ok, so there is a "at management's discretion" phrase (took me a while to find the contract on my external hard-drive).

I guess they will swing it in their favour, because it could be argued that a bonus letter is binding, only the awarding of the letter and amount is at the management's discretion.
 

SauRoNZA

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Read your contract.

Failing that figure out how quickly your new position would pay the bonus anyway, and then simply forget about it.
 

SauRoNZA

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Ok, so there is a "at management's discretion" phrase (took me a while to find the contract on my external hard-drive).

I guess they will swing it in their favour, because it could be argued that a bonus letter is binding, only the awarding of the letter and amount is at the management's discretion.
Not every manager is a ****.

Quite often employees will be thanked for their service and still get their full bonus because their current company actually wants to see them further and do well for themselves.

Why? Because they'll potentially come back one day but failing that they'll point many good candidates to their old company.
 
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