Sorry, if my company does poorly I don't get a bonus...

We've just had an announcement that there will be no salary review in 2009 - so no raises. But we still have to go through the whole appraisal process to gauge company progress.

Fair enough I suppose but the appraisals themselves take up a lot of valuable working time!
 
One day it will come - and i sincerely hope that... that the people who actually work for a living wage get together and take some pretty drastic revenge on such leeching scumbags!

Same in America - billions of bonuses to failed incompetent CEO's whos' companies have failed and had to be bailed out by the public.

If we all stopped paying our taxes the Govt. wouldnt actually be able to afford to take us all to court. Think on that.
 
I am a little torn on this one. On the one hand the fact that anybody in the banking industry that has taken government money is getting a bonus annoys me a lot. However if an individual has performed above and beyond a set criteria and their individual performance in their job has been outstanding then they need to be rewarded. Not every employee of RBS has performed badly I am sure that some of their departments and traders etc have done ok and not lost money and as such they should be retained and developed as they did the right thing.

The big kick in the nuts would be if any of the senior people who were responsible for the direction of the company and the wholesale failure of the business model where to receive a bonus of any kind. I think we should implement a salary cap as the USA are discussing to limit the earnings of board level employees as soon as they get government backing
 
NeilFawcett said:
It's simple system. The company does well (enough), I get a bonus. If it doesn't, then I don't...

But here we see a company that's done VERY badly, and yet... http://www.telegraph.co.uk/finance/...otland-to-pay-bankers-six-figure-bonuses.html

OK the directors don't get a bonus, but none-the-less has the company got money to 'give away'?
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I don't really understand how you can't grasp this one? You have a bonus scheme in your company, its linked to overall company performance. If your company hits a set level of performance, it triggers a bonus. It's probably written into your contract.

These guys probably have a similar bonus scheme written into their contract but it sounds like it is based on departmental or individual performance, instead. If they hit the criteria required for the bonus, whether individually or part of a team, they are paid the bonus. This will be part of their terms and conditions of employment - they are legally entitled to it.

Whats the big deal?
 
Here if the company does badly we get no bonus and if it does well we get no bonus either.

At least it is consistant :rolleyes:
 
[TW]Fox;13434365 said:
I don't really understand how you can't grasp this one? You have a bonus scheme in your company, its linked to overall company performance. If your company hits a set level of performance, it triggers a bonus. It's probably written into your contract.

These guys probably have a similar bonus scheme written into their contract but it sounds like it is based on departmental or individual performance, instead. If they hit the criteria required for the bonus, whether individually or part of a team, they are paid the bonus. This will be part of their terms and conditions of employment - they are legally entitled to it.

Whats the big deal?
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Agreed, what the government should be doing is ensuring that such contracts are not given out in the future, it should be impossible for an employee to earn a massive bonus in a company loosing billions especially one that is majority owned by the tax payers.
 
Well, bear in mind that the company is only doing badly because of one particular market that they're active in, the mortgage-backed securities. I imagine their best forex / equities traders would find other jobs if they didn't pay them their bonuses, given that it wasn't the forex / equities guys who screwed up.

Sure, punish the people who are actually muppets, but not every trader had a hand in crashing the credit market, and to lump them all together shows a little naivety in how banks operate.

*edit* a lot of these guys will have had guaranteed bonuses written into their contracts. In some (many?) cases RBS will be contractually obliged to pay them bonuses.
 
username said:
However if an individual has performed above and beyond a set criteria and their individual performance in their job has been outstanding then they need to be rewarded.
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Hard-cheese... It's taking the pee... Join the rest of the real world and take it on the chin!
 
growse said:
Well, bear in mind that the company is only doing badly because of one particular market that they're active in, the mortgage-backed securities. I imagine their best forex / equities traders would find other jobs if they didn't pay them their bonuses, given that it wasn't the forex / equities guys who screwed up.

Sure, punish the people who are actually muppets, but not every trader had a hand in crashing the credit market, and to lump them all together shows a little naivety in how banks operate.
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If my director(s) make bad choices so the company profits drop, it's possible I won't get a bonus, no matter how well I've performed... And this is true for every sector of my company, even though they could be considered disparate.
 
NeilFawcett said:
Hard-cheese... It's taking the pee... Join the rest of the real world and take it on the chin!
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Why is it 'taking the pee'? It's called high level business. If you don't pay high levels of pay with a decent, structured bonus schemes then the high calibre applicants will simply work at your competitors, instead. If you want the right people, you'll pay the right wages and bonus's.

Just because you can't grasp this or won't be there yourself doesn't mean its 'unfair' and that your world of presumably 9-5 with a set salary is more 'real' than theirs.

If my director(s) make bad choices so the company profits drop, it's possible I won't get a bonus, no matter how well I've performed...
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Thats right, its how it works. They've presumably taken great levels of personal risk to get where they are today, and you've not. If you want some of that, then presumably the option of progressing to board level is there for you if you have what it takes. If you don't, then don't begrudge those that do.
 
matt_fsr said:
One day it will come - and i sincerely hope that... that the people who actually work for a living wage get together and take some pretty drastic revenge on such leeching scumbags!

Same in America - billions of bonuses to failed incompetent CEO's whos' companies have failed and had to be bailed out by the public.

If we all stopped paying our taxes the Govt. wouldnt actually be able to afford to take us all to court. Think on that.
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When will people realise the fault doesn't just lie with "the big execs".

The faults lies with everyone, from the government down to our consumerist nation that consistently borrowed to have things now.
 
[TW]Fox;13434387 said:
Why didnt you bring up this issue before you signed your contract :confused:
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Bad planning on my part. I wanted out from the company I had worked for 15 years quickly so negotiated my new employment badly. Only myself to blame. :(
 
[TW]Fox;13434438 said:
Why is it 'taking the pee'? It's called high level business. If you don't pay high levels of pay with a decent, structured bonus schemes then the high calibre applicants will simply work at your competitors, instead. If you want the right people, you'll pay the right wages and bonus's.

Just because you can't grasp this or won't be there yourself doesn't mean its 'unfair' and that your world of presumably 9-5 with a set salary is more 'real' than theirs.
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I grasp it, but have you considered it's all just part of the nonsense that's got us into this situation. Organisations throwing money around like there's no tomorrow...
 
NeilFawcett said:
If my director(s) make bad choices so the company profits drop, it's possible I won't get a bonus, no matter how well I've performed... And this is true for every sector of my company, even though they could be considered disparate.
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Ok, and why should every other employer be like yours, and every employee contract also be like yours?
 
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