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Year end bonus will help with goals!

November 14, 2007

My year and bonus is based on many factors about how the company performs. The base rate for non-senior professionals 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!

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3 Comments leave one →
  1. ispf permalink
    November 16, 2007 5:14 am

    Wow, that is a pretty nice bonus! My company has been going consistently downhill ever since I joined… wonder if I jinxed it ๐Ÿ™‚ 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 ๐Ÿ™‚ And this year, I wonder if we will have any ๐Ÿ˜ฆ We won’t know until March/April though…

  2. Anonymous permalink
    November 25, 2007 4:59 pm

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

  3. SJean permalink
    November 25, 2007 6:57 pm

    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

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