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Tuesday, November 13, 2007

Year end bonus will help with goals!

My year and bonus is based on many factors about how the company performs. The base rate for non-senior engineers is 5.5%, and we can earn from 0 to 200% of that. This year the company did well and we earned 170%. That means I will get a check for over 9% of my salary! This is the first year that I was employed for the full fiscal year, so my first year getting such a generous check. My manager, I think, has a base rate of at least 10%, so he'll be getting a huge bonus.

I was counting on this bonus, and I will need it if I have any hope of meeting my year end savings goals. I'm kicking butt on my investing goals, but my savings isn't growing the way I wish it was. I still need:
  • 2k payback for student loans
  • 2.1k stashed in HYSA
I can definitely make it, but it is a bit dependent on my relocation situation. I have no idea what the costs will be, but I probably will have to pay rent in two places for January, and come up with a significant deposit. My current apartment had a $100 deposit, so even if I do get it all back... that really just isn't going to do much. I'll take that in consideration when I figure if I met my goals or not.

I have 3 paychecks plus this bonus to do it in. I also have to buy Christmas presents, gas for a road trip home, and come up with around $500 in spending money for my New Years vacation. Yikes! It's going to be close!

3 comments:

ispf said...

Wow, that is a pretty nice bonus! My company has been going consistently downhill ever since I joined... wonder if I jinxed it :) I heard someone mention that the year before I joined, people got bonus in the range of 8 - 12%! But last year it was below 5%. Since I was there for only part of the year, I got peanuts - really, my manager seemed embarrassed to tell me how much bonus I was getting :) And this year, I wonder if we will have any :( We won't know until March/April though...

Anonymous said...

I am puzzled by your distinction between investment and savings goals. Could you please explain what this means?

SJean said...

Perhaps I could have been more clear. By investments, I really just meant retirement. So that is money I will not be seeing for a long time and really is entirely separate from my general savings.

Once I get more non-retirement savings accumulated, I will likely invest that in something more than a HYSA

Tuesday, November 13, 2007

Year end bonus will help with goals!

My year and bonus is based on many factors about how the company performs. The base rate for non-senior engineers is 5.5%, and we can earn from 0 to 200% of that. This year the company did well and we earned 170%. That means I will get a check for over 9% of my salary! This is the first year that I was employed for the full fiscal year, so my first year getting such a generous check. My manager, I think, has a base rate of at least 10%, so he'll be getting a huge bonus.

I was counting on this bonus, and I will need it if I have any hope of meeting my year end savings goals. I'm kicking butt on my investing goals, but my savings isn't growing the way I wish it was. I still need:
  • 2k payback for student loans
  • 2.1k stashed in HYSA
I can definitely make it, but it is a bit dependent on my relocation situation. I have no idea what the costs will be, but I probably will have to pay rent in two places for January, and come up with a significant deposit. My current apartment had a $100 deposit, so even if I do get it all back... that really just isn't going to do much. I'll take that in consideration when I figure if I met my goals or not.

I have 3 paychecks plus this bonus to do it in. I also have to buy Christmas presents, gas for a road trip home, and come up with around $500 in spending money for my New Years vacation. Yikes! It's going to be close!

3 comments:

ispf said...

Wow, that is a pretty nice bonus! My company has been going consistently downhill ever since I joined... wonder if I jinxed it :) I heard someone mention that the year before I joined, people got bonus in the range of 8 - 12%! But last year it was below 5%. Since I was there for only part of the year, I got peanuts - really, my manager seemed embarrassed to tell me how much bonus I was getting :) And this year, I wonder if we will have any :( We won't know until March/April though...

Anonymous said...

I am puzzled by your distinction between investment and savings goals. Could you please explain what this means?

SJean said...

Perhaps I could have been more clear. By investments, I really just meant retirement. So that is money I will not be seeing for a long time and really is entirely separate from my general savings.

Once I get more non-retirement savings accumulated, I will likely invest that in something more than a HYSA

Tuesday, November 13, 2007

Year end bonus will help with goals!

My year and bonus is based on many factors about how the company performs. The base rate for non-senior engineers is 5.5%, and we can earn from 0 to 200% of that. This year the company did well and we earned 170%. That means I will get a check for over 9% of my salary! This is the first year that I was employed for the full fiscal year, so my first year getting such a generous check. My manager, I think, has a base rate of at least 10%, so he'll be getting a huge bonus.

I was counting on this bonus, and I will need it if I have any hope of meeting my year end savings goals. I'm kicking butt on my investing goals, but my savings isn't growing the way I wish it was. I still need:
  • 2k payback for student loans
  • 2.1k stashed in HYSA
I can definitely make it, but it is a bit dependent on my relocation situation. I have no idea what the costs will be, but I probably will have to pay rent in two places for January, and come up with a significant deposit. My current apartment had a $100 deposit, so even if I do get it all back... that really just isn't going to do much. I'll take that in consideration when I figure if I met my goals or not.

I have 3 paychecks plus this bonus to do it in. I also have to buy Christmas presents, gas for a road trip home, and come up with around $500 in spending money for my New Years vacation. Yikes! It's going to be close!

3 comments:

ispf said...

Wow, that is a pretty nice bonus! My company has been going consistently downhill ever since I joined... wonder if I jinxed it :) I heard someone mention that the year before I joined, people got bonus in the range of 8 - 12%! But last year it was below 5%. Since I was there for only part of the year, I got peanuts - really, my manager seemed embarrassed to tell me how much bonus I was getting :) And this year, I wonder if we will have any :( We won't know until March/April though...

Anonymous said...

I am puzzled by your distinction between investment and savings goals. Could you please explain what this means?

SJean said...

Perhaps I could have been more clear. By investments, I really just meant retirement. So that is money I will not be seeing for a long time and really is entirely separate from my general savings.

Once I get more non-retirement savings accumulated, I will likely invest that in something more than a HYSA

Tuesday, November 13, 2007

Year end bonus will help with goals!

My year and bonus is based on many factors about how the company performs. The base rate for non-senior engineers is 5.5%, and we can earn from 0 to 200% of that. This year the company did well and we earned 170%. That means I will get a check for over 9% of my salary! This is the first year that I was employed for the full fiscal year, so my first year getting such a generous check. My manager, I think, has a base rate of at least 10%, so he'll be getting a huge bonus.

I was counting on this bonus, and I will need it if I have any hope of meeting my year end savings goals. I'm kicking butt on my investing goals, but my savings isn't growing the way I wish it was. I still need:

  • 2k payback for student loans
  • 2.1k stashed in HYSA
I can definitely make it, but it is a bit dependent on my relocation situation. I have no idea what the costs will be, but I probably will have to pay rent in two places for January, and come up with a significant deposit. My current apartment had a $100 deposit, so even if I do get it all back... that really just isn't going to do much. I'll take that in consideration when I figure if I met my goals or not.

I have 3 paychecks plus this bonus to do it in. I also have to buy Christmas presents, gas for a road trip home, and come up with around $500 in spending money for my New Years vacation. Yikes! It's going to be close!

3 comments:

ispf said...

Wow, that is a pretty nice bonus! My company has been going consistently downhill ever since I joined... wonder if I jinxed it :) I heard someone mention that the year before I joined, people got bonus in the range of 8 - 12%! But last year it was below 5%. Since I was there for only part of the year, I got peanuts - really, my manager seemed embarrassed to tell me how much bonus I was getting :) And this year, I wonder if we will have any :( We won't know until March/April though...


Anonymous said...

I am puzzled by your distinction between investment and savings goals. Could you please explain what this means?


SJean said...

Perhaps I could have been more clear. By investments, I really just meant retirement. So that is money I will not be seeing for a long time and really is entirely separate from my general savings.

Once I get more non-retirement savings accumulated, I will likely invest that in something more than a HYSA