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Hello 🐟🎏
When will be the retention bonus will be paid if a candidate joined TCS in the middle of the financial year. I.e September'22... Will that be paid on next year's September'23 Month only after completing an year in TCS?
And will the Retention bonus will also be considered as taxable income of the the current year taxes(2022-23)?
Looking for valuable suggestions!!!
Tata Consultancy
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Wow, you really think so?
I’m not sure about exact data, sorry, but I think strategy for employing sign-on bonuses would matter more. For example, if a candidate asks about a sign-on because that wasn’t previously shared as something the company offers, any sign-on might sound attractive to the candidate. If a position is posted and the sign-on amount is shared right off the bat on job descriptions, I’d wonder why that information is being given right away, and if the position is difficult to fill or the company is a difficult place to work, for them to have to show their cards immediately. At the same time, if a job description included a statement like, “generous compensation with a sign-on bonus,” that might be intriguing. It also depends on the role and the type of individuals you’re trying to attract.
Interesting. Not aware of anything, but wondering if the higher sign on bonus is related to a lower base salary? I’ve heard of many candidates asking if sign on bonus/portion of bonus can be added to base salary instead of paid as a bonus, as this is better for them long term, and if they work OT better to have it calculated on higher base rate.
Also if you have a clawback on your bonuses where they have to be repaid if leaving the company within a certain amount of time that can feel scary to employees if it’s a large amount.
Thanks! Our comp is competitive, but we have many tough markets. It’s nursing…need I say more? 😁