Cisco bonus
I was told 12% target bonus would be given based on the company and personal performance. How does bonus usually work in Cisco. Out of this what percentage contributes company and personal performance. I heard Cisco doesn’t have year end appraisal system, curious to know how they evaluate one’s performance?
^^simply not true. In the 4 years I was at Cisco, I got more than the Target in 3. At least in engg, this was the case with every single person I know of. Please stop spreading false information.
In the other 1 year, we got 75% of the Target bonus.
Exactly mate, your key words here are “...4 years I was @ Cisco”. Try 20 years. In my 20 years of working for Cisco, yes, we definitely have had years where we get zilch. Next time before calling someone a liar take a good look @ yourself if you’re qualified to answer the fucking question.
Janelle is correct, no guarantee on bonus, though most likely will happen given economy is good right now.
True that. Kittuputtu is a kid with no clue about bad years/recession years! When you will be happy to just have ur job and not get laid off in the several layoff rounds. And no bonus on those years!
Isn’t it obvious that bonus aren’t paid out during recession time. I think no company pays. But how often they did it in last 5 years is a concern as that reflects the position of the company in market. Datapoints always differs based on how long we take it. Respect everyone’s view
The bonus has normally been paid out every year for like the last 10. It’s 12% (depends on your grade level) of your base * company factor * individual. Last year I ended with with like 27% of my salary as a bonus...was nice
What grade? G8 12% Target ? (In that case you got more than 2.0 IPF which I have never heard of) . Or G10 15%? In that case it's probably 1.8 or something is normal for high performers in lower grades!
Probability of getting 12 is easy but getting more than depends on your performance is what I assume
This is very easy. You have a target bonus based on your grade. G6 5% G8 12% G10-11 15% etc. Bonus consists of two more factors. Your individual performance factor set by your manager. This can be between 0 and 3. The last factor is how well Cisco is doing. This will vary and has been somewhere around 0.75 and 1.2 the last years. Of course there is a budget for the team and you cannot give 3 to everyone, more like you need bad performers on a team to give very high ipf to one or more. Your bonus is then base salary times your target bonus times individual times company performance. In addition if you have got a raise or promotion bonus will be prorated to account for the period in old grade or target bonus. If you get 0 or very low individual performance it's time to look elsewhere
Thanks for the detailed breakup. Give me sense of how bonus works
Cisco is pretty good about bonus. U can assume u will get 12% . In my few years here i always got the target or exceeded it.
I do see arguments are split on either sides. It seems most of the engg groups achieve or exceed the target bonus.
Unless your bonus is guaranteed by some contract, forget it, bonus could be $0 or could be a percentage appropriate to grade level. There have been times when no bonus was handed out due to Cisco not doing well. Which is to say some executive’s vision for company failed in those cases and their bonus should have been given to employees instead.
You mean to say that there is no assurance that atleast the target bonus mentioned in offer letter is not achievable at certain times
Correct, target bonus is just that...a target that may or may not happen.