I'm leaving shortly and I have always been bonus eligible. I assumed that if I left a day before the 2021 bonuses were paid in February, I would be eligible for absolutely nothing. After signing that 30 day notification attestation a few backs, the document read such that one might be eligible even after leaving? I have no idea. Anyone have any insight on that?
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Not all good leavers get a bonus. I took the high road, gave twice my required notice and picked up a lot of extra work to help the team.
You guessed it… no bonus.
They already play games with the bonus. Obviously they’ll play more games if you leave before payout
What if you have to give 30 days notice because you’re a VP and you are technically considered any employee during payout? For example payout is usually last paycheck in February, what if you give your 30 day notice in first week or feb abs and last day would be first week of march? Or would they say you can leave now?
You're still not eligible if you leave on your own before payout except for retirement. Wait until 3/1 to give your notice.
OP, search MySource for Discretionary Incentive Comp Plan, then scroll down to Good Leavers on Page 4 for conditions. Good luck.
To the person quitting as a protest to the vaccine mandate, good riddance to you. And good luck finding another job with a large company that doesn't require vaccines.
WTF is a bonus?
Assuming the OP is going to a different firm in the banking/finance industry -- you should be able to negotiate for a comparable bonus at a new employer. Bonuses are paid out early in the year across the industry, so an employer who wants you to start in, say, January should be willing to compensate you for the bonus you would be walking away from. If they don't, and they really want to hire you, then they should hold the role for you until you're paid your bonus and served your notice period at BNYM. I would be wary of a firm that offers you a job but isn't willing to work with you on this.
You need to give the required noticed based on your letter grade. If so, you should get your bonus. If you do not, you forfeit it. Go search the policy and proceedures. It is in there. Do not believe what people put on this site.
You will not receive the Bonus unless you are an employee on the date it is paid out. To be extra safe, do not give notice until after you receive the Bonus payment.
I was fired the beginning of January and got a bonus. I don't remember if it was in my last paycheck or included with a sub payment but my last day was 1/22.
If you give two weeks notice in March, what do they have to hold over you? Can you lose anything for not giving 4 weeks. I didn't read nor sign any agreement...
Yes you qualify however depending on the integrity of your manager they may sc--w you over. I have managed staff that were laid off that still fit their bonus.
I would wait for the payment, then give notice.
My understanding is you have to be employed on the day of payout and can not have given notice.
OP, while you technically might be eligible, I highly doubt that you will receive anything if you leave. As a former manager, I had enough problems trying to spread around the meager bonus pool, I never gave anything to staff who left before Feb. Ever. It's just not done. That's why the first week of March is usually a mass exodus.
I'm interested to know this as well as I'm in the VP bonus pool. I'll likely be parting ways with BNYM in protest of their vaccine status mandate