Houston
Sponsored by

Leaving a job before bonus payout

4,981 Views | 25 Replies | Last: 5 yr ago by Jules_Winnfield
Jules_Winnfield
How long do you want to ignore this user?
How do I negotiate or bring it up with new potential employer the bonus I would be leaving behind if I accepted the offer. Bonus payout is beginning of second-quarter 2019 and will roughly be 35-40k .

The reason I am stating what the range would be is because I initially thought about asking for a signing bonus but that might be too much for a signing bonus

Thoughts?
drumboy
How long do you want to ignore this user?
AG
Tell them you have a bonus payout coming that you can't leave on the table.
Jules_Winnfield
How long do you want to ignore this user?
10-4

Thanks for the advice
Sugar_Land_Wes
How long do you want to ignore this user?
AG
Any employer looking to hire somebody this time of year should be anticipating sign on bonuses to lure someone away. Leaving money in the table if you don't ask.
BarryProfit
How long do you want to ignore this user?
I'd be worried about the new gig if they didn't bring it up and include it in comp discussions, it's kind of a given.
Ag_07
How long do you want to ignore this user?
AG
Jules_Winnfield said:

Bonus payout is beginning of second-quarter 2019 and will roughly be 35-40k.

Shiiiiieeeet...Hook an Ag up with the inside track for this gig once you leave.
FtBendTxAg
How long do you want to ignore this user?
AG
Damn. My last quarter bonus was barely 10% of that low end :/
Dill-Ag13
How long do you want to ignore this user?
AG
What's a bonus?
IDaggie06
How long do you want to ignore this user?
AG
Texags sure makes me feel poor
randy828
How long do you want to ignore this user?
AG
drumboy said:

Tell them you have a bonus payout coming that you can't leave on the table.
This worked for me in getting a larger signing bonus.
Cynic
How long do you want to ignore this user?
I can't relate. If I was getting a bonus that size I would stay put. But obviously you are more ambitious than me.
schmellba99
How long do you want to ignore this user?
AG
Simple - be honest about it with your new potential employer. How they react will tell you a lot about the type of people and company they are.
David_Puddy
How long do you want to ignore this user?
AG
I just did placement for a candidate who gets a cash & stock bonus payout towards the end of February of roughly $100k. The future employer allowed him to stay on to receive the bonus. The candidate was upfront about this and the future employer respected that. Agree with the above posters about being upfront with the future employer about the amount that you'd be walking away from and seeing a) if they're willing to let you stay on to receive it or b) if they can subsidize it in one way or the other. If you try and negotiate getting something from your current company and telling them you're quitting, 9x out of 10 they're going to tell you to go f yourself. That's tough with it still being 2.5 months away......good luck!
CowtownAg06
How long do you want to ignore this user?
AG
I'm surprised this didn't come in your initial discussions. Assuming you are staying in the same industry/job, bonus expectations are something you have to know going into it to access the opportunity. I'd absolutely expect to be kept whole and if they are unwilling to, it may be a sign that you'll be disappointed down the road.
Dr. Faustus
How long do you want to ignore this user?
AG
David_Puddy said:

I just did placement for a candidate who gets a cash & stock bonus payout towards the end of February of roughly $100k. The future employer allowed him to stay on to receive the bonus. The candidate was upfront about this and the future employer respected that. Agree with the above posters about being upfront with the future employer about the amount that you'd be walking away from and seeing a) if they're willing to let you stay on to receive it or b) if they can subsidize it in one way or the other. If you try and negotiate getting something from your current company and telling them you're quitting, 9x out of 10 they're going to tell you to go f yourself. That's tough with it still being 2.5 months away......good luck!

+1

This is the proper way to go about it. If new employer wants you to forego bonus at old employer in order to start sooner, then new employer needs to cover the expected bonus outright, or subsidize it in some form or another. Could be LTI after say, 6 months successful employment if they don't want to eat the entire value up front or space it out some other way.
Boo Weekley
How long do you want to ignore this user?
IDaggie06 said:

Texags sure makes me feel poor
I think that was the intent. A guy making a $40k/yr bonus wouldn't need internet advice on how to bring it up to potential new employer. Do the math.
FlyFish95
How long do you want to ignore this user?
There's always a max exodus at my employer in March after bonuses are paid out.
NoahAg
How long do you want to ignore this user?
Work both jobs until you get the bonus from Company 1.
Then..."bye Felicia."
Jules_Winnfield
How long do you want to ignore this user?
Boo Weekley said:

IDaggie06 said:

Texags sure makes me feel poor
I think that was the intent. A guy making a $40k/yr bonus wouldn't need internet advice on how to bring it up to potential new employer. Do the math.


No i genuinely was asking for advice on people who may have similar experience

I appreciate all the input
Redstone
How long do you want to ignore this user?
AG
I've never faced this dilemma
ThunderCougarFalconBird
How long do you want to ignore this user?
AG
My wife will be in this situation soon. Easiest way to handle it is to be up front with the new employer from the get-go. Tell them, "My expected bonus at current employer is $X and I expect it to be paid out on March 1. I'm happy to come before then, but would need enticement to walk away from $X."

She hasn't gotten a bad reaction yet. It's been a mix of, "we need you sooner so we will come up with something" and "we aren't on an aggressive timeline and can wait until after that date."

If you get a reaction of, "We want you sooner and we really can't come up with much in terms of inducement," I would call that a pretty big red flag and move on to other opportunities.
Boo Weekley
How long do you want to ignore this user?
Jules_Winnfield said:

Boo Weekley said:

IDaggie06 said:

Texags sure makes me feel poor
I think that was the intent. A guy making a $40k/yr bonus wouldn't need internet advice on how to bring it up to potential new employer. Do the math.


No i genuinely was asking for advice on people who may have similar experience

I appreciate all the input
Just breakin balls. A right of passage on the Tine board.
BarryProfit
How long do you want to ignore this user?
Also you should obv pad the number you give to your new employer, not a lot but at least a little.
Texan_Aggie
How long do you want to ignore this user?
AG
Really depends on how badly the NewCo wants you to work there.

If they approached you about signing on to NewCo, being upfront about what's being left on the table is the best bet. You have the leverage and if they want you, they'll make it work. However, if they view you as wanting to work for them, they may have some leverage and you might not get all of it.

Seems like a short window, couldn't you just stay on and get the bonus? Be careful, some companies have clauses where you have to pay back if leaving within a certain number of days after payout.
Charismatic Megafauna
How long do you want to ignore this user?
AG
Gig 1995 said:

There's always a max exodus at my employer in March after bonuses are paid out.
Last company I worked at was like this, seriously like 15% turnover in the month after bonuses every year except 2015(?).

Every salary negotiation I've ever had involved bonus, either making me whole on one I was walking away from, or letting me wait to quit until after payout. I have never heard of a bonus that you had to pay back if you left soon after it was paid (because the bonus was for last year's performance). I have also heard of companies matching unvested stock (with unvested stock...these were Reservoir Engineers, I've never been able to swing this). I don't think it's uncommon for a signing bonus of any kind to come with a 6 month to 1 year payback term (if you leave within 6 months you give back the signing bonus)
Jules_Winnfield
How long do you want to ignore this user?
Texan_Aggie said:

Really depends on how badly the NewCo wants you to work there.

If they approached you about signing on to NewCo, being upfront about what's being left on the table is the best bet. You have the leverage and if they want you, they'll make it work. However, if they view you as wanting to work for them, they may have some leverage and you might not get all of it.

Seems like a short window, couldn't you just stay on and get the bonus? Be careful, some companies have clauses where you have to pay back if leaving within a certain number of days after payout.


They approached me towards the end of last year and we have been in contact for the past six weeks or so. I have gone through 3 interviews and have the last one next week with executive team. Throughout the three first interviews it was mentioned to me various times that they wanted someone on board by February so it looks like they are in a hurry to find somebody and have been patient enough with me over the past six weeks given that I travel for work and had travel scheduled for vacation.

I have spoken with industry colleagues regarding this company and everybody has mention that it is a small company that is up-and-coming and on the rise.

Again I appreciate all the input and feedback, it has been very valuable and I will take it into account
Jules_Winnfield
How long do you want to ignore this user?
Just wanted to thank everyone for their advice and suggestions

Everything went great!

Thanks and Gig'Em
Refresh
Page 1 of 1
 
×
subscribe Verify your student status
See Subscription Benefits
Trial only available to users who have never subscribed or participated in a previous trial.