Need a sanity check here.

When I joined my current company, we were on a quarterly bonus structure with guaranteed payouts each quarter. This was, in fact, how the recruiter said he could meet my salary request.

The company just announced we are moving to annual payouts only, with no payments for 2023 until May 2024. There are no raises happening.

This amounts to 12% less money in my pocket in 2023 plus inflation.

Is this standard, or should I be looking for opportunities elsewhere?

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Further context:

Even at the reduced salary I’ll still be making a solid living in a remote-only job. But I am our sole income earner and we have three kids and my elderly parents to take care of, which includes some major home repairs we intended to complete in 2023. This isn’t “papa needs a new home theater” money so much as “the oldest kid need her own bedroom and grandma likely goes to a nursing home this year” money.

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So another thing which I did given a similar situation is having two remote jobs. I just have high living expenses

I’d start looking elsewhere. Also a bit of this is on you - as Clark Griswold reminded us, bonuses are discretionary. Always trust the wording of an offer letter over the often uninformed comments of a recruiter.

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3 months for me

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Start checking elsewhere, they can’t pay but right now most people can’t. I just heard about one of these but I said I can’t meet my expenses without it. As it was heavy bonus.

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Pretty harsh to announce in December, and you have every right to be annoyed by that. Whether it's worth looking elsewhere is more complicated and depends on many other factors, i.e. overall job satisfaction, market comp, industry, etc.

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Making a change like this definitely is not standard, but annual bonuses instead of quarterly definitely is. If what they are saying is that you get your Q4 2022 bonus (presumably paid in Q1 2023) then you get no bonus all of 2023 because your full year 2023 bonus is paid in 2024, I would NOT be looking at moving. Almost anywhere you go will likely have a 2023 bonus paid in 2024. Now if you are saying there is no 2023 bonus and you won’t get a bonus until the 2024 bonus is paid, presumably paid in 2025, then that’s a different story. Of course the vast majority of bonuses are not guaranteed.

Right, the annual payout makes sense as a policy, but the implementation is quite abrupt. If I was looking elsewhere, I’d be looking for more salary and not even looking at bonuses as anything reliable.

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Wonder what your industry is and if they are trying to mitigate on a RIF with this change.

Lots of executive turnover this year including CEO and CRO. I think they’ve mostly been upgrades, but stability is a concern.

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