Curious, does your company have a clear bonus plan?
Once upon a time, a client asked me what types of bonus plans I was seeing in the market. I sat down and began scratching out the different incentive and “discretionary” plans I had seen. Guess what?
THEY WERE ALL OVER THE PLACE.
Mid-level managers were making from $0K-$300K bonuses in addition to their base. Notice that gap? Some companies rarely paid bonuses. Some strove for 10% of salary. Some had bonuses based on profits. Some had bonuses based on customer satisfaction. Some on safety. Some on company performance. Some wanted to “surprise” you. They were paid out per project, per year, per quarter, per whatever. See where I’m going here?
If you are confused by your bonus plan and how it compares to other companies, you are not alone.
We’re happy to discuss some of the superb bonus plans we have seen in the industry. If you are looking to adjust your firm’s bonus structure or you are just curious about what is out there, we can go in depth. But, beware, the “typical bonus” does not exist.