I didnt realise this (although i should have) but after seeing some information this week and after talking to my buddy, some people get SERIOUS bonuses at year end.
and what i mean by that is that my buddy’s wife typically receives a $30,000 - $40,000 bonus cheque every year.
I also know that some senior execs at my company will be earning $50,000 - $76,000 bonuses in the coming weeks.
This thread is a discussion on what you typically see as a bonus, but also it is a reality check for alot of people who never really knew that this happens…lol
i wasnt that shocked, i’ve read about this stuff before, but when i tell my tradesmen friends or some other family members who have been content in their $30k a year NET EARNINGS, they almost cry at how stupid they realise they are for not getting better qualified for better jobs.
I wouldn’t consider a $50k bonus crazy by any stretch of the imagination.
You want to be disgusted? Go read about some of the big IB firms. I think GS has something like $2B in bonuses paid out last year with the AVERAGE bonus being like $200k. Now that is crazy.
if you guys want to see crazy look at the bonuses paid out to CEO’s and Chairman of major corporations, some of these guys get bonuses in the 10’s of millions
everything is relative though because they are running companies that handle trillions of dollars, not just a couple million.
the important thing is that the bonus SHOULD (not that they always are) be based on what you put into the place you work for. ie. the more you put in, the more you will get out
I just get the profit sharing every 1/4 when earnings releases come out. Used to be squat, now it’s getting a little better, last one was like 8%. The end-of-year one that we get in Feb is normally pretty good at about 8-10% with another large chunk being put into the 401K instead of being handed out. Last year i got a ~6K deposit into my 401K account. So in total over the year I probably get about 10K total in bonuses (profit sharing + 401K)
