Comments on: Good Bonus Plan or Bad Bonus Plan? Would You Be Upset?

By: Jijane

Jijane — Sat, 09 Jun 2012 19:50:21 +0000

You are all Sheepeople! Wow no way would I take a job like that. Let’s not forget if you are dead before you are 65 then the money means nothing! Ask George Harrison of the Beatles he died with a 100 mill in the bank at well before 65! Stop letting them dictate your lives for money you fools!!! That’s why your world sucks a little more every day!

By: Meg

Meg — Thu, 18 Aug 2011 03:20:46 +0000

I DEFINITELY do not think that this is a reason to turn down a job. However, I can see it as being a factor that you totally disregard when trying to choose between multiple jobs, instead of a fantastic thing. I currently have a contract for 10 months, and get benefits for 8 of them. The benefits include 3% match in my retirement plan, and I was told that sometimes they’ll give an extra percentage in bonus money. But the money from the employer is not vested at all until 2 years of employment, at which point it is vested at 50%, and then it doesn’t reach 100% until after 4 years. Even if my contract is renewed (has to do with funding availability from outside sources), I’m not sure I’ll hold my position that long. So the match money and any extra bonus money into my retirement account isn’t really something I consider myself as getting. But, as I said, I CAN’T see it as a reason to turn down a job, especially if one has been unemployed.

By: Gail

Gail — Wed, 10 Aug 2011 23:55:28 +0000

Your friend is pure nutz! I’ve never had a job that paid a bonus although once the nursing home where I worked gave us all $20 from donations from the residents families (big whoop). My son gets a bonus at his job $300, the last couple of years. Stuns me as he works at a grocery store and I was an RN that at times worked for corporate hospitals. You never know when you might get a bonus and to turn down a job because they want to pay it into a person’s 401K account is crazy, especailly since every other aspect of the job was good. I could see turning it down maybe if it was underpaid, bad benefits and this on top of it, but then after a years unemployment I would even take a job offering that.

By: Tammy

Tammy — Wed, 10 Aug 2011 22:07:19 +0000

Are you kidding? What about all these elderly people who are living on a fixed income? When that bonus goes into your 401K, it raises the amount of money you will “earn” in retirement. Salary is usually much bigger than retirement, so the money shouldn’t really be needed now. Why would you turn down a chance to live more comfortable in your later years?

By: Jteezie

Jteezie — Wed, 10 Aug 2011 21:12:57 +0000

What company is this? I want my employer to put my full bonus into 401k but I’m limited to 50%.

Does anybody know of other companies with this benefit?

By: Tim Cortez

Tim Cortez — Wed, 10 Aug 2011 20:57:55 +0000

If I was looking for a job for over a year and an opportunity such as the one described presented itself, I would jump on it. I would never base a decision on how I would get my bonus per se. I mean if this person has five job opportunities knocking down their door and all are equal in all aspects except for how the bonus gets distributed then yea, I guess you can base a decision on that. In this economy who can really afford to nit pick a darn good job opportunity?

By: Diane

Diane — Wed, 10 Aug 2011 17:49:31 +0000

I think your ‘friend’ is crazy, but that’s just my opinion. Though I can see that it might be preferable to have a choice on how to spend your bonus money, it’s a JOB, with a BONUS! I’d take it in a heartbeat. You can always keep looking and maybe find a different job when the economy is better. In the meantime, you have a JOB with a BONUS! To me, that’s a no-brainer.

By: WhiteEyebrows

WhiteEyebrows — Wed, 10 Aug 2011 15:02:33 +0000

Not taking it because they want cash to take a sweet vacation is one thing.

Not taking it because in some industries (high tech, finance, etc) bonus programs make up a large part of your overall compensation – and you want the freedom to use that money in more ways besides retirement (maybe paying off your house or investing?) might be a reason I would turn down this job. Especially if comparable jobs in the same industry have a similar bonus plan without restrictions.

By: Jennifer

Jennifer — Wed, 10 Aug 2011 12:03:46 +0000

phr3dly — These stories are true. Sometimes I use the term “friend” for friends of friends, family members, coworkers, people from organizations that I belong to, or other people that I know or am connected to in some way.

It’s just easier sometimes to say, “My friend” than it is to say, “The lady from my book club that I only see once a month but who constantly complains about her finances and her deadbeat ex-husband while we’re supposed to be talking about books.” (And yes, there is such a person.) So while “my friend” doesn’t always mean my BFF’s, these are real people that I know at least on some level and whose stories I’ve heard. I just keep my ears open and listen for money talk. There’s a lot to hear.

By: phr3dly

phr3dly — Wed, 10 Aug 2011 03:27:35 +0000

I’m genuinely curious — are the stories you tell about “my friend” actually true?

Whenever I read one of them, I can’t help but think they’re invented to make a point (valid though the point may be).