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Thanks for the Bonus, I Quit

madned.substack.com

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Re: Thanks for the Bonus, I Quit

#141

Post by jdavis703 »

suifbwish wrote: post #140
dan-robertson wrote: post #69

Earlier quoted context omitted.

The typical startup problem like the above is a more extreme example of people mailing it in until bonuses are out: people mailing it in until the startup is acquired or goes public because the company is doing well and they lose their shares/options if they quit

Don’t EVER work for a company that will take your shares if you quit. It’s a psychological trap and you are the prey. Any startup owner that strips your stake if you leave deserves to become the personal target of an obsessive and vindictive IRS auditor.

Most of the time it’s not vindictive founders. It’s that the options cost money to buy. And if the company is successful one might have to pay taxes on the stock options too.

Re: Thanks for the Bonus, I Quit

#142

Post by discordance »

ransom1538 wrote: post #32
jedberg wrote: post #17

When I worked at eBay, we had a bonus program based on company revenue. It was around 6% of your salary max and managers got around 25% max based on the same formula. For the first few years, you could count on getting a max bonus every quarter. To the point where most everyone who worked there had always gotten one. And the one quarter, we didn't get the max bonus. In fact, I don't think we got it all. People scream…

Yes. I had a high school teacher [underpaid] that gave us donuts in the morning. One day that didn't happen. Anarchy. Screaming, yelling, crying, breakfasts ruined. WHAT WILL WE EAT? This teacher was now an evil villain. The teacher learned: never give out free donuts again.

There’s a pretty strong dopamine response with sugar, so there would be a strong association with that and class starting.

No wonder they went nuts.

Re: Thanks for the Bonus, I Quit

#143

Post by human »

fuzzythinker wrote: post #70
jedberg wrote: post #17

When I worked at eBay, we had a bonus program based on company revenue. It was around 6% of your salary max and managers got around 25% max based on the same formula. For the first few years, you could count on getting a max bonus every quarter. To the point where most everyone who worked there had always gotten one. And the one quarter, we didn't get the max bonus. In fact, I don't think we got it all. People scream…

Ouch, 25% vs. 6%. That's how they value managers vs. (engineers? or everyone else?). Sad.

Well, if the managers have a base salary of 100k and the engineers, 150k, I think it’s fair.

Re: Thanks for the Bonus, I Quit

#146

Post by xenihn »

I enjoyed reading that far more than I expected to. Thanks to the author!

I'm now realizing that, yes, I do feel completely entitled to my FAANG bonus. But...the recruiters for all of the companies (FAANG and non-FAANG) involved in my last interview loop all factored target bonuses into total compensation during negotiations. This was 2 months into the pandemic, too, when things were somewhat gloomy. So how am I not supposed to feel entitled to it?

I don't see it any differently from my salary or RSUs in terms of deserving it. The only thing I see different is the potential to exceed the target, and get more than 100% of the original target %.

Re: Thanks for the Bonus, I Quit

#147

Post by greggman3 »

jedberg wrote: post #17

When I worked at eBay, we had a bonus program based on company revenue. It was around 6% of your salary max and managers got around 25% max based on the same formula. For the first few years, you could count on getting a max bonus every quarter. To the point where most everyone who worked there had always gotten one. And the one quarter, we didn't get the max bonus. In fact, I don't think we got it all. People scream…

Honest question, what's a reasonable solution for a small company (since it's easier to do thought experiments on a small company).

You're a business owner. You hire 3 people. You pay them salaries. That year the company does really well. You want to thank your employees. You're not going to just give them raises because there's no guarantee you'll do as well next year

It sounds by Netflix logic you should just keep all the money and not reward your employees. They got what they asked for.

Re: Thanks for the Bonus, I Quit

#148

Post by memling »

bsder wrote: post #122
taf2 wrote: post #63

Earlier quoted context omitted.

I visited China in 2000 and remember one night in Beijing I very poor sad little came up to me asking for help for food and I handed her 5 dollars. As I recall at the time the little ones always were asking for “one dollar” so i felt it very nice to give 5... after an hour or so eating in the restaurant when I came out a literal sea of children were gathered all around me begging for the same gift... I had given the…

> very poor sad little came up to me asking for help Never give to beggars. Ever. For any reason. If you just feel you must give, give food --something that can't be converted to cash. Nothing pisses off "beggars" faster than giving them a sandwich. 1) Most of the time it's a scam. Often the individual isn't really that badly off or, if they're children, the money is being skimmed by adults. 2) A lot of the time it's…

> If just feel you must give, give food

If you have the time, consider taking them out to eat if they're comfortable with it. A little food and time goes a long way.

Re: Thanks for the Bonus, I Quit

#149

Post by iancmceachern »

m463 wrote: post #90
adamcharnock wrote: post #57

This reminds me of my first job as a developer, age 21. I haven’t shared it before, so here goes... There was a ‘crunch’ coming up at work (i.e. IMHO, bad planning) and so the boss offered everyone a bonus if they performed well. However, the older employees warned me that the criteria for such bonuses were often ill-defined. I therefore pushed for clear achievable objectives. These pre-agreed objectives were promise…

> After that I went freelance. And 15 years later I can say it was the best decision ever. Every time I've left a job, I've been uncertain and conflicted. Every. Time. Then, a week or two into the new job... Every. Time. ...I thought, "Wow! I should have done this sooner!"

Me too, every time. I've felt guilty even, but never for long.

Re: Thanks for the Bonus, I Quit

#150

Post by dragonwriter »

BugsBunny1991 wrote: post #121
ransom1538 wrote: post #32

Earlier quoted context omitted.

Yes. I had a high school teacher [underpaid] that gave us donuts in the morning. One day that didn't happen. Anarchy. Screaming, yelling, crying, breakfasts ruined. WHAT WILL WE EAT? This teacher was now an evil villain. The teacher learned: never give out free donuts again.

Should've doled them out based on performance. My fourth grade teacher used to give out candy bars for good grades. King sized ones, too. No other teachers gave out much of anything except gold stars. I was an overachiever so I usually managed to get a treat.

Being the best served by the teacher is already a reward; no need to rub additional salt in the wounds of the students the teacher is failing.
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