The couple of days prior to the announcement of the year-end results usually meant "ching ching" for us, the employees. The 13th month bonus pay out in December was not part of our compensation plan, but merely an advancement of the overall bonus package that one would be getting.
Being performance bonus, the pay out is dependent on (a) the company's performance and (b) one's individual performance. Hence, employee A's payout may or may not be the same as employee B's. I wasn't expecting much (perhaps an amount comparable to last year will be good since the appraisal was slightly better than the last..) For the record, it was 8 months (per the letter, but due to the complicated mechanics as explained in the following paragraphs , the monetary amt was about 6mths) last year..).
I was kinda wow-ed when I learnt on Tuesday that employees of a local supermarket chain gets up to 10 months of bonus. But then again, He is my provider. He will see to it what He deems I should be receiving. :)
To cut the story short, I received the bonus payout letter last morning. When my GM told me the amount, I was like (oh, okay..). Then she computed it in terms of months, i was like wow.. Perhaps being inculcated with the level of materiality of figures at work, that sum I was told wasn't at all very impressive to me.
It's kind of complicated to comprehend the mechanics of the the computation - simply put it what the letter purported you to have earn, you will get a portion of it now, the remaining portion to be placed in to be paid out over a span of three years. In monetary terms, what goes into your bank account is: (a) the definite portion of the year bonus, (b)1/3 of what was declared previously to you but have not gone to you. So technically speaking, the letter said I'd a winfall of 15 months.. but technically speaking, what goes into my pocket is 10 months. Deducting the one month advancement in December, additional nine months of pay sounds equally fantastic. :) oh yes, and a slight salary adjustment.. not a lot but still an upward adjustment. :) Praise the Lord!
This makes me more appeased to be working on a Saturday morning when my puffy eyes acted up again (last night, the irises were all swelled up and thank goodness I managed to find the viscous eye-drops which the GP prescribed a couple of weeks ago when the same symptoms happened). Hands up to my friend's comments on working today -- "after getting bonus, I'm a bit more balance." ;)
Happy me is finally visiting my best pal in Spring this year!!
No comments:
Post a Comment