Are yearly bonuses worth meeting your goals for?
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an Elementary School Literature Teacher
Hello fishes, I have offers from two different companies and both are offering same amount of CTC - 18LPA (YOE: 3.2) . Company names are Pristyn Care and Xiaomi technology india pvt. ltd .
Now for Pristyn Care I won't have to move out of Gurgaon (I'm from north India). Xiaomi is calling me to Bangalore. Rest all the benefits seem similar.
In terms of learning and job security and all the aspects considered, which company should I join?
Please help me decide. Thank you!
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Once you become a manager, bonuses are definitely getting bigger. In my first year, I got 37K bonus (20K milestone bonus and 17K performance bonus). The following year, the performance bonus was close to 20K. Been a Tier 1 for the past 3 years, so that might come into play in terms of bonus level.
There was no discussion about sales. My bonus was tied to my overall performance (tier 1) which is determined by your technical expertise, knowledge of client business and industry, how you treat people around you, how much you help others, etc. At the same time, I know that the bonus is also tied to the bonus pool, which in some years is bigger than others. The bonus pool is determined by how well did the company do that particular year. So financial metrics matter, but not my specific financial metrics. In other words, it did not matter what revenue I brought in. Because at my level, I am not expected to bring in revenue.
Long long time ago when I was an A2 at a PA firm, I ended up with something like 2600 billable hours (that’s right... not a typo.... it was a bonkers year). I was a top rated high performer as well. My bonus that year was the biggest I had ever seen (sorry, don’t remember $ amt). I haven’t worked that many hours since. That also meant it took until I was an M2 or M3 before I saw a larger bonus.
Just food for thought.
I would argue that the bonus structure at most of the Big Four is too rigid for that to occur now (the massively our sized bonus, I mean.)
At the A1 to S1 level I wouldn’t kill myself to make them unless I was close. The extra $1500-$4500 was not worth it the pain. Now that I’m looking at $10k+ I changed my tune.
And by close I mean in terms of utilization.
Associate 1 level at PwC gets betwen $500 - $1500. Is the $1000 worth exerting more than the minimum just for a chance at the pie?
EY staff don't get any bonus, my senior 1 year i got 1200
Bonuses are not worth it in accounting; only motivation one would have is for higher rating which usually equates to higher salary bump and/or earlier promotion.
If you want to work for a bonus, finance would be best.
Thanks
Haven't cared about it since EY did away with the numerical rating (which is commendable. One less reason to run the rat race)
What firm?
Sounds familiar.
Don't you set your own goals? You set them for a reason, right? Unless you mean baselines like utilization
I’m on pace for the year, only feb, March and April left and they are 240-250
Wait are these automatically given at all firms or just big 4?
Agree with both perspectives. Until you hit manager you’re better served to moonlight at Starbucks as a barista for the additional per hour earnings...
No, and I’m not confident it gives me a better bonus if I do meet it.
I don’t think tax ever gives good bonuses, not worth it if you have to sacrifice personal obligations.
If you’re not staying for long term, bonuses alone are not going to be worth the extra effort generally