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Handing in notice, awaiting bonus

Discussion in 'Careers and Professional Development' started by dl8860, May 15, 2019.

  1. dl8860

    Mobster

    Joined: Jul 25, 2010

    Posts: 2,630

    Location: Surrey

    Hi,

    Just had a second round interview which went extremely well and I think I have reason to expect a job offer shortly.

    Bonus scheme at my current company is very ad-hoc, there's no formal structure or paperwork, and the boss just says if the company has done well (which it has) then it's 1 week's salary if you've done well and maybe more if you've been exceptional and there's anything left over.

    I spoke with HR a week back to ask if bonuses were payable this year, and was told they aren't actually sure, but if they are then it'll be paid in May payslip.

    For particular reasons, I'm not inclined to pull my line manager into a meeting to extract any more information, I'm just wondering what the likelihood is that in the case I would be due a bonus, am I going to have that rescinded if I give my notice before now and 31st May?
     
  2. dowie

    Caporegime

    Joined: Jan 29, 2008

    Posts: 38,528

    In plenty of companies it is pretty much guaranteed you'd not get paid a discretionary bonus if you've already handed in your notice!

    (An exception perhaps being that you're working on some critical project and they still want you to put in extra effort, stay late etc.. and make sure certain things are delivered before you go... in which case you might have some targets set during your notice period etc..etc..)


    Generally the thing to do is to hand in your notice right after any bonus hits your bank account - but I wouldn't worry about it too much if it is only equivalent to a week's pay... maybe ask to have your start date pushed back a bit or ask a query about contract and try to delay things by a couple of weeks before you need to sign and hand your notice in if you want.
     
  3. mattyg

    Soldato

    Joined: Jun 17, 2007

    Posts: 7,304

    How much notice do you need to give
     
  4. dl8860

    Mobster

    Joined: Jul 25, 2010

    Posts: 2,630

    Location: Surrey

    OK cheers that's good info. I think it's probably the case I wouldn't get paid anything.

    My notice period is 2 months, I'm not sure delaying accepting the offer (which I've just been told is now being processed) for 2 weeks is really an option. Unless I was really candid with new company and explained I'm awaiting bonus. I guess depends how much of a hurry they are in. But have to balance that with the fact it is only 1 weeks' pay, and even then it's not guaranteed.
     
  5. PooKer

    Hitman

    Joined: Jan 16, 2008

    Posts: 589

    Location: East Sussex

    Have you signed a contract for the new job?
     
  6. dowie

    Caporegime

    Joined: Jan 29, 2008

    Posts: 38,528

    It is absolutely acceptable in cases where a bonus is significant, I mean sometimes in those cases the new employer might offer a sign on bonus in lieu of the bonus the employee is foregoing, though with it being due only two weeks away they'd tend to just wait (or indeed the employee might delay things by two weeks by simply asking a couple of legal questions about the contract or stating they want to just check some clause with a solicitor etc.. an extra two week delay isn't much in the grand scheme of things, especially if your notice period is 2 months.).
     
  7. HangTime

    Man of Honour

    Joined: Oct 25, 2002

    Posts: 27,455

    Location: Hampshire

    A week's pay is only about 2%, not really worth hanging around for IMO, especially as you will presumably get paid more in the new job, so delaying the start date means you earn slightly less money (excluding bonus) this year anyway, and again slightly less pro-rata bonus in the new role.
     
  8. booyaka

    Capodecina

    Joined: Jan 19, 2006

    Posts: 12,373

    This - doesn't sound like waiting around for 1 weeks extra pay is worth while
     
  9. amigafan2003

    Capodecina

    Joined: Jan 18, 2008

    Posts: 14,091

    Location: Fylde Coast, Lancashire

    A weeks pay? Is £500-600 worth all the faffing about?
     
  10. Steveocee

    Mobster

    Joined: Nov 5, 2011

    Posts: 4,356

    Location: Derbyshire

    One week of money isn't really worth needing about for. Yep free money is great but bigger picture, are you moving to a higher paid job? You'll earn it back in no time.