12/17/2009

It's Christmas Bonus Time

Hurrah!

My company's Christmas bonus is actually an annual profit sharing award.  The better the company does, the better the reward.  I won't get into all the details - but I will say that not everyone gets the same amount.  There is a portion that is similar for everyone, a portion that is based on your group's performance and a portion that is merit based.  You can receive any combination of the three financial awards.  Often, your award is pro-rated based on the length of time you've been with the company.  So if you've been here less then a year, you won't get a full share.

That was me last year - I think I got around $70.

This year, is different.

The company didn't do as well as we would have liked, but we didn't go belly up either.  My profit sharing/merit award is for a total of  $550 (less all statutory deductions).  If we assume i'll be taxed at about 30%, I'll receive about $385!


Merry Christmas To Me!
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9 comments:

  1. Big smiles!! And because you have topped out EI contributions, that is one less deduction from your bonus. Yayy Jessie!

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  2. Congrats! What will you do with the new found money?

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  3. @ Canadian - thanks!

    @ Financial - Thanks! I haven't 100% decided yet, but I think some of it will go to funding my clothing fund. I would really like to make my wardrobe a little more professional at work. The rest would probably go to my student loan - but I would really like to treat myself.

    My mom always says to dress for the position you want to have, not for the one your in.

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  4. Bonuses ar always great! Especially when you can use it to pay down debt!

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  5. Congrats -- I wish more companies awarded bonuses the way yours does.

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  6. Congratulations! That's a terrific bonus. Our bonuses don't come out until February. Last year there were no bonuses company wide due to overspending on projects. I am hoping that this year will be different. I did get my annual gift from the company today with my pay...a grocery store gift card. That's fine by me and will definitely get used!

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  7. Woah! That's awesome Jessie!

    Whatcha going to do with the money?!

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