Review and resignation

[paultaylor04]

guys, i have another job offer that i have signed but haven't yet given my papers to my current employer. I only have 3 weeks till i start with my new employer and expect a good bonus this time from my current employer

1) usually, i get my review early may but this time it seems delayed for some reason. should i wait till my review comes out before submitting my resignation even if it means i won't be able to give the standard 2 weeks notice? I can always offer some weekend time after leaving if need be

2) would most companies revise the review after knowing you are leaving? i don't want to lose my bonus

thank you all

 

[LNBruno]

Seems like this question would be better answered here:

http://www.tek-tips.com/threadminder.cfm?pid=717

< M!ke >
[small]Where are we going and why am I in this handbasket?[/small]

 

[kmcferrin]

The only thing that I can say about this is that a bonus is something that has already been earned, where a raise is a promise of future increase in pay. If it truly is a bonus, then it shouldn't be affected by whether you stay or go. But the reality is that it's going to depend on a few things:

1. Does the supervisor have discretion with regard to bonuses such that they could take it away from you if they wanted to? Or is the bonus structure set by the company (as a percentage of sales or goals met, etc) and wouldn't be something that could be taken away by a vindictive boss?

2. Is your supervisor the sort of person who would try to take the bonus away from you if they found out you were leaving?

3. Are you sure that you're actually getting a bonus this year?

________________________________________
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MCSE:Security 2003
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MCTS:Applications Infrastructure

 

[paultaylor04]

i'm sure i'm getting a bonus this year. It's a small company and in the past they've demonstrated not being so ethical. A few ex-employees i've spoken to seem to think they'll take away my bonus if i submit my resignation. And no it's not a fixed structure bonus but very discretionary

 

[Stella740pl]

Even though a bonus is something already earned, in practice, no one ever gets it if they resign before the date scheduled for the payout.

In this case, it seems, a review is required to prove that the bonus, indeed, is already earned and due. So, I would guess, no review - no bonus. If you are leaving, most likely, a review won't be scheduled for you. I mean, from the company's point of view, what's the point? To give you some more money as you leave?

A coworker of mine many years ago asked our company if they would wait for him for 2 months or so, because in his previous company he was due a hefty bonus payable after the New Year, annual reports, and the company's profit is calculated. They were willing to wait.

 

[acewarlock]

Are you required to give notice in writing? Is there some kind of punisment if you don't?

I have always based it on how the company terminates employees, if there given fair treatment such as Term pay.

In the 50+ years I have been working, I have only given 2 weeks notice 2 or 3 times as I was hoping that they would make a counter offer and they both did. All the other had a policy of walking you out the door as soon as you told them you where leaving for another job.

So I guess what I'm saying is, do you think the company deserves the notice?




This is a Signature and not part of the answer, it appears on every reply.

This is an Analogy so don't take it personally as some have.

Why change the engine if all you need is to change the spark plugs.

 

[SantaMufasa]

I don't know how large a bonus you expect, but I know that in July, 1997, I was slated to receive a $10K bonus from the company with which I had worked for nine years. I had received, and accecpted, a written job offer from a new company. The new company wanted me to start August 1...The bonus was to pay out in my July 31 pay check. I told the new company that I would give my notice to my previous company the morning after I could confirm that my bonus had paid into my checking account. I would then start with the new company as soon as my old company agreed to allow me to leave, or two weeks from previous-company notice, whichever came first.

The new company understood and agreed to that proposal. It was good that I did because, although I had earned the bonus, an executive at the previous company told me that it is their unwritten corporate policy that if an employee gives notice, and the bonus has not yet entered the employee's checking account, that they would even issue a "stop payment" on the bonus check to ensure that they got the money back.

So, my suggestion to you is to not rely on the ethics and good nature of the company from which you are to receive the bonus. Discretion is the better part of finances when a yet-unpaid bonus is involved. I'm sure that your new company will both understand, and grant lee-way, in your start date in an effort to protect your bonus. (If they don't/won't understand, then I suggest your re-thinking your acceptance of their job offer. <grin>)

Mufasa
(aka Dave of Sandy, Utah, USA)
[I provide low-cost, remote Database Administration services: www.dasages.com]

 

[paultaylor04]

Guys, here's some additional information to the feedback you have given me so far. This is an annual performance review and any pay increases will be retroactive to April 1.

Now, my question is:
Once I have signed on the review document, is the company legally allowed to take back my pay increase and bonus they just promise me? If they do so and it can be proven that they did so after the fact that I resigned, can't they be sued for 'retaliatory action'?

Thanks

 

[SantaMufasa]

...can't they be sued for 'retaliatory action'?

Would you rather have all the bonus go into your bank account or would you rather have none in your bank account with the hope of getting some/all later, and then sharing at least 1/3 of it with the attorney that gets you what you can have now by delaying your start at the new company?


...And that is best case scenario. Unless you have either a contract or company policy that already states that you get bonuses even if you leave before they pay you, no court will side with you.

I'd arrange to delay your start at your new company until the check clears from your old company, if you want all of your money, with no strings attached.

Mufasa
(aka Dave of Sandy, Utah, USA)
[I provide low-cost, remote Database Administration services: www.dasages.com]

 

[acewarlock]

And change your Bank account or the company can come back in and take the money back, it's in the authorization form you signed for Direct deposit.




This is a Signature and not part of the answer, it appears on every reply.

This is an Analogy so don't take it personally as some have.

Why change the engine if all you need is to change the spark plugs.

 

[chiph]

I would hope that they give you the bonus, but plan as if they won't.

Chip H.


____________________________________________________________________
www.chipholland.com

 

[ChrisHunt]

And change your Bank account or the company can come back in and take the money back

If that's true (I don't think it would be in the UK, but you do things differently over there), write to your bank rescinging the DD agreement at the same time you hand in your notice.

But don't do either till you've safely got your money in the bank!

-- Chris Hunt
Webmaster & Tragedian
Extra Connections Ltd

 

[MDXer]

And change your Bank account or the company can come back in and take the money back, it's in the authorization form you signed for Direct deposit.

Most banks you can now challenge the reversal if it is an electronic deposit and the funds are still available to you until the company can LEGALY prove that the funds were deposited in error. I had this happen to me I issued a challenge to the reversal and never heard anything. I doubt "well he doesn't get the bonus for his work last year because her won't be here next year" is a valid legal arguement.

Paul
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