Part II: A follow-up to my previous post about Wall Street and my personal bonus seen here:http://www.onemillionbucks.net/2008/12/how-much-will-wall-street-bonuses-be.html
So bonus season finally arrived this week. In absolute terms I was quite pleased this year, but in relative terms I was a bit disappointed.
My Bonus in Absolute Terms:
My bonus this year was approximately 49% of my current annual $90,000 salary, which equated to $44,000, making my all-in 2008 comp $134,000 (plus the 5% 401k match and other benefits). My current year salary was frozen and held constant for 2009. I was also awarded a form of shares in my company which, over the next 5-10 years, may produce as much as $30,000 of income, but right now are worth nothing. Bottom Line: I feel lucky to even have a job and get any bonus given how poorly the economy is.
My Bonus in Relative Terms:
Last year I earned 72% of my $68,000 salary or $52,000, so this year's bonus was a 23% percentage decline and a 15.4% dollar value decline. In that sense, it was disappointing to have my salary frozen and to have such a sharp decline from previous years.
I hope Santa Claus or Hanukkah Harry brought you something nice too...
HAPPY HOLIDAYS!
0 comments:
Post a Comment