I have an offer from Bloomberg and I’m trying to understand how Target bonus works past the first year. If my target bonus is 80K in the offer letter, does this mean my target bonus will always be 80K past the first year? Or can it be lower the following year like 50K? I know I can get actually get lower or higher thank the target but I am trying to see how the target number moves. Can it be increased on a yearly basis too? Thanks Current TC: 210 K #tech #bloomberg
TC or GTFO
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Target bonus is pretty much guaranteed. Even in 09 they got bonuses.
You will get 100% bonus for sure.
80% is guaranteed but the target bonus year on year can change both ways depending on performance, sales, budget, team’s requirements etc
So what meeting target amount can change and go down? The recruiter is saying that my target is $80k and year over yeah my bonus target can either stay as 80k or go up but it won’t go down.
It is almost always more than target .. unless you didn’t work at all
It's probably more accurate to think of target bonus as deferred salary. Unless you are on pip, basically everyone gets the full payout if you are an employee end of Feb. If you suck, you get 100%. Most get 102%. If you are a legend, you might get 120%, but honestly just count on getting the promises amount, it is a pretty safe bet. Typically both base and bonus go up every year during reviews. How much they go up depends on your performance. But at least so far there's never been a thing where like you got 80k this year and next year's target bonus just drops to 10k for no reason.
OP what role are you in that your bonus is 80k? Mine is significantly lower at 15k
Yoe op??
You need to extremely underperform to not get the full amount. So consider it guaranteed. It will keep growing as well. About 6-7 years ago they tried to reallocate bonuses in favor of base pay. That's the only time I remember when bonuses decreased. Everyone was really happy but sadly that was a one time effort.
What the annual raise growth percentage? Is there any upper threshold after which growth decreases?
I've been getting on average 10% except the first couple of years when I was new to the big tech and didn't know much about the market. The rumor is the cap for senior IC and TL roles is 450k. Beyond that point getting good raises becomes harder. I should know more in a year xD
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It shouldn’t decrease .. it’s always more than last year.. except for the case 1 year where base increased substantially for everyone instead .. I think it was 2014-15?
So the actual target number doesn’t decrease at all? Does the target value increase from 80 to higher numbers year over year?
What do you mean by 80? 80k or 80% of some number? Usually offers have 80% of x is guaranteed in the first year.