I loaned my boss almost 10 grand 2 years ago. He hasn’t paid me back in full. And has been asking every few months for more. He considers me a good friend, but he does manage me and it is making me more and more unsure about upcoming performance days, bonuses etc. He could have mal-intent because of the fact that i’ve denied giving him more money. What should i do? Should i go to HR? Should i keep quiet?
WTF. Never ever lend money to someone in your chain or command. The blame is 100% on him as he is in a position of power. Find a lawyer. He should be fired.
A lawyer? For what?
Man up and talk to him. Be done with it in a conversation. The longer you wait the tricky you make it. You didn’t talk to HR when you lent him that money. Own it and deal with it.
I’m not sure I understand what will come of after that. Its what i was thinking, but i am a new grad and had no idea how things worked in the corporate world. But i have had people been advising me to just go to HR.
Do you have any evidence you gave him? If not, he can simply deny your claim and fire you in months to come
Get legal advice (like $150) first and foremost on how to proceed. As everyone knows HR departments only protect the company. Then proceed based on the lawyer's recommendations. If you don't want to go that route, you could maybe scare him (but this could backfire on you) Get a Zoom template with a demand for payment in full. I've used them before with people who owed me $ and didn't want to pay it back. Worked every time. The fact that this guy is in control of your bonuses, performance reviews, etc smacks of a bully shaking a kid down for their lunch money. https://www.legalzoom.com/forms/demand-for-payment-on-demand-promissory-note
Who loans money to their boss. What a fuck up. Forget about it
Calm down dude! He said he didn’t know how these things worked. Everyone makes mistakes. Abusive borrowers find vulnerable people to borrow money as abusive Blind users find easy targets to bully them. You and his boss are no different.
He can just claim the last hike you got, he gave u few extra RSUs/$$ from his pocket to make it up. You are screwed just by that possibility!
Please keep us posted, OP.
What an odd situation. Why would your manager ask you, his subordinate, for a loan...? Was he a friend of yours prior to your working relationship? Did you actually execute a loan agreement? That's a substantial amount of money to loan with handshake. If he is asking for more, maybe tell him you cant afford it at your current pay rate 😉 (that's a joke, you need to get out of this situation. I dont think its really an HR issue -unless you know he broke a company policy with loan request or unless he retaliates when you ask to be paid back....then you better be able to prove it.)
don't lend money to people without an interest. The riskier the person is the higher the interest. lower bound for interest should be inflation which is at least 5%
don't lend money to people without an interest. The riskier the person is the higher the interest. lower bound for interest should be inflation which is at least 5%
Don’t just go to HR—go to the CHRO