How does Bonus in your firm work? Who should have bonus and who should not? What are the factors that determine how much you get? Should acting seniors expect bonuses?

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Bonus, 2020, haha

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Beat me to it. Was wondering why my firm even bothered. Mine came out to like 320 bucks (which I am grateful for and is 320 bucks more than I had before).

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Honestly you’d probably get a very low or no bonus this year. At least set yourself with that expectation. That’s every firm.
Just economic situation, but as an acting senior you’d prob be up for promotion more than other colleagues.

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Very true for 2020. Would you provide some insight on the normal years? This is more of a general question as how the mechanism work.

Bonuses were once that...a bonus. I try to work on the principle that i don't expect one but getting something is nice.

Then some occupations began to rely on them because they were part of ones' compensation. Maybe a way to adjust for market inadequacies.

Tl/dr: some occupations will make a killing in bonuses, some only get a tiny amount and it is better to make it part od salary increase.

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That’s definitely a good perspective. Relying on bonus as a compensation adjustment is not very good practice

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Bonus for me is a target % of salary based on firm and individual performance and firm performance. Mine was 5% this year, but was paid at about 4.5 % due to "poor" firm performance.

That makes sense, thanks for the detailed insights!

No they shouldn't. But we do have promotion bonuses to seniors. Every staff "acts a senior" at some point before they get promoted. They don't have the same expectations though.

That makes sense, thanks for the input!

It doesn’t

I got one at the L3 level for being acting senior on 2 busy season jobs but this was in 2018. I believe I received $1,000.

Got you. Yeah I’ll be upset too if L2 is making almost the same as L3...especially when a lot L3s are starting/expected to act as seniors now...

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