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Bonus payment after resignation

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  • 18-08-2014 11:54pm
    #1
    pepsico
    Registered Users Posts: 5 ✭


    - Bonus pay out date: first week of November.
    - Fiscal year (year for which I am evaluated for bonus purposes) finishes in September.
    - Planning to give notice (1 month) on mid October (can't delay beyond that for personal reasons) and therefore will remain employed up until mid-November (after bonus pay out date)
    - What bonus policy says:

    "Employees who are not employed on the bonus
    payment date are not eligible to receive a bonus payment under
    this Plan."

    Technically I will be employed on the payment date, although they will know that I am leaving. What are my chances of getting the bonus?
    Tagged:


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    #2
    Stheno
    Moderators, Business & Finance Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 51,688 Mod ✭✭✭✭Stheno


    pepsico wrote: »
    - Bonus pay out date: first week of November.
    - Fiscal year (year for which I am evaluated for bonus purposes) finishes in September.
    - Planning to give notice (1 month) on mid October (can't delay beyond that for personal reasons) and therefore will remain employed up until mid-October (after bonus pay out date)
    - What bonus policy says:

    "Employees who are not employed on the bonus
    payment date are not eligible to receive a bonus payment under
    this Plan."

    Technically I will be employed on the payment date, although they will now that I am leaving. What are my chances of getting the bonus?

    DO you mean you will finish mid November?

    Why do you think you won't get it if that's the case?


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    #3
    Larry Wildman
    Banned (with Prison Access) Posts: 1,460 ✭✭✭Larry Wildman


    If they're smart, they'll pay you for your notice period and move you on before the bonus payment date, thus avoiding paying it.


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    #4
    pepsico
    Registered Users Posts: 5 ✭pepsico


    Stheno wrote: »
    DO you mean you will finish mid November?

    Why do you think you won't get it if that's the case?

    Yeah, I meant mid-November.

    I think they may not pay it because I already gave my notice before the actual pay-out date.


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    #5
    pepsico
    Registered Users Posts: 5 ✭pepsico


    Larry Wildman wrote: »
    If they're smart, they'll pay you for your notice period and move you on before the bonus payment date, thus avoiding paying it.

    What if they don't? I suppose every company is different, but wanted to hear some thoughts/experiences on it.


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    #6
    Aint Eazy Being Cheezy
    Registered Users Posts: 4,631 ✭✭✭Aint Eazy Being Cheezy


    Larry Wildman wrote: »
    If they're smart, they'll pay you for your notice period and move you on before the bonus payment date, thus avoiding paying it.

    Depends on the value of the bonus.


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    #7
    Eoin
    Registered Users Posts: 21,256 ✭✭✭✭Eoin


    Larry Wildman wrote: »
    If they're smart, they'll pay you for your notice period and move you on before the bonus payment date, thus avoiding paying it.

    The OP would still be employed by the company for the duration of the notice period; unless s/he explicitly agreed to waive the notice period but still get paid.

    I'm trying to think how I would get out of paying the bonus... Maybe try and change the bonus date, even just for the person that's leaving. See if I could use very subjective criteria to determine the amount that's due.

    OP - is there any chance that you will get confirmation of the amount before you resign?


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    #8
    davo10
    Closed Accounts Posts: 6,926 ✭✭✭davo10


    What does your contract say about entitlement to the bonus? Bonuses are discretionary and normally are not an entitlement unless guaranteed by rate of pay terms in your contract.


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    #9
    Mrs OBumble
    Registered Users Posts: 25,950 ✭✭✭✭Mrs OBumble


    pepsico wrote: »
    -
    Technically I will be employed on the payment date, although they will know that I am leaving. What are my chances of getting the bonus?

    High.

    Unless you're working for total scummers whose contracts are worthless.


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    #10
    pepsico
    Registered Users Posts: 5 ✭pepsico


    Eoin wrote: »
    The OP would still be employed by the company for the duration of the notice period; unless s/he explicitly agreed to waive the notice period but still get paid.

    I'm trying to think how I would get out of paying the bonus... Maybe try and change the bonus date, even just for the person that's leaving. See if I could use very subjective criteria to determine the amount that's due.

    OP - is there any chance that you will get confirmation of the amount before you resign?

    Well, I will know the amount once performance reviews are completed, which is going to be before I give notice. It will be in the 5K-10K range.


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    #11
    pepsico
    Registered Users Posts: 5 ✭pepsico


    davo10 wrote: »
    What does your contract say about entitlement to the bonus? Bonuses are discretionary and normally are not an entitlement unless guaranteed by rate of pay terms in your contract.

    Contract doesn't say anything about paying bonuses during notice period. It says what I mentioned above. You have to be employed on the payment date for the bonus to be paid.


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    #12
    Eoin
    Registered Users Posts: 21,256 ✭✭✭✭Eoin


    pepsico wrote: »
    Well, I will know the amount once performance reviews are completed, which is going to be before I give notice. It will be in the 5K-10K range.

    I'd imagine that it'd be hard for them to backtrack at that stage. And it'd be a bit of a cowboy thing to try and do.


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    #13
    RainyDay
    Closed Accounts Posts: 6,925 ✭✭✭RainyDay


    Mrs OBumble wrote: »
    High.

    Unless you're working for total scummers whose contracts are worthless.

    A lot depends on the nature of the employer and the industry. Is it a reputable, professional environment where people stick to contracts, or is it a cut-throat industry where cash is everything.

    If they don't pay, it will be very difficult to enforce payment through the courts.


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