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Resigning but still get bonus?

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Resigning but still get bonus?

I’m interviewing and planning on leaving my current position but have not given notice yet. I have a few promising prospects and do expect at least one offer( hopefully) by mid March, based on their hiring process. End of year bonuses don’t come out until the end of Q1. There’s very little information but if the company meets goals overall ( I think they did) and my goals were clearly met, I’d get about $20k. However, if I give notice but work until the checks are distributed, starting my new job after, do I still get my bonus? Or does having given notice disqualify me? What is typically done in these situations? Are there any laws surrounding this?

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  1. Anonymous

    You DO NOT give notice until bonuses are issued. Don't jeopardize your bonus at any turn. Even if that means not granting a full 2 weeks notice.

  2. SPQ

    Ask yourself if you would like to leave a potential $20k on the table. Did you deserve that based on the work you put in last year, or would you be willing to let it go?

    If your next job has a signing bonus or maybe pays a lot better--and you could make that bonus back in just a couple of months--maybe you could hand in notice early.

    I'd advise that once the bonus is in your hands, you can give them notice. Companies can withhold or cancel bonuses at any time for any reason. Read your employment contract again. A bonus is always discretionary, never a guarantee. Just like if your boss gave you "needs improvement" on your review and gave you no bonus, that is a totally permissible act. I am curious as to what law prevents this?

  3. Dr. Patty Gross

    This will be based on company policy, most likely. I don't know of any laws that would stipulate one way or the other. If someone comes in with an offer that more than makes up for the $20K bonus, and you have to start before the cut-off for getting your bonus, do the math to see how long it will take. I'm not sure I'd pass up a good offer for a job I really wanted, or even jeopardize it by asking for a Mid-March/April start date, when I don't even know if I'll get a bonus. Bonuses are often carrots dangled in front of us to keep us going (or staying) when we'd rather move in a different direction. I've had too many that either didn't come through at all or were significantly less than expected. Trust me when I say this: the only people who know whether your company made its numbers for the year are NOT talking about it. If they do, and the company is public (i.e. on the stock exchange), they can end up in jail for divulging insider information (I've seen it happen).

  4. Anonymous

    Read the fine print and work around that if you decide to leave. A new company may not be willing to gift you with a sign on bonus to make up for your end of year bonus. Your current HR dept should be able to share the bonus details with you. Give them a hypothetical, and consider staying and delaying new job start date til you receive the bonus.

  5. Anonymous

    Whether there are laws depends on where you live, but probably not. Your company probably has policies, maybe in your employee handbook or specifically around how bonuses are calculated and awarded, or in your employment contract if you signed one.

  6. Pauline Mosca-Cyphers

    Bonuses are discretionary. Do not resign until you receive your bonus. I'm sure the new employer will understand and remember, you don't have to give 2 weeks notice.

  7. Alexis Gladstone

    Usually bonuses are discretionary. If there is written policy, I would read it through. I've worked for companies where I've seen people lose their bonus just because they are leaving, even if they work to the payout period. Again, it's because they are discretionary.

    While it's been a long time since I've been in the job market, I have successfully negotiated a sign-on bonus to make up for the bonus I was walking away from. I don't know if companies still do that, and it probably depends on your job level.

    As someone else said, a lot of companies are very understanding of this and allow you to negotiate a start date so that you still get your bonus.

  8. Anonymous

    hard to leave 20k on the table. If you do want it, don’t give notice before receiving it. Giving notice does not mean the company needs to agree to your two weeks. Once you give it, there is nothing stopping them from telling you “thanks for all you did but you today is your last day”. I agree with reading the fine print on what can stop you from receiving it as someday you have to still be working for the company. If you can give your notice after getting the bonus.

  9. Anonymous

    HR here keep quiet until you get the bonus.

  10. Ayian

    Generally speaking, people who are leaving do not get bonuses. They are not guaranteed and there are no laws mandating that if x employee gets something y employee must as well.

  11. Teresa Solecki

    historically, most I’ve seen would wait until bonuses come out and then give notice.

  12. Celena Barton

    No, they likely won’t give you your bonus if you give notice.

  13. Anonymous

    To the best of my knowledge, there aren't laws around this and this situation is definitely not unique to you. I have seen people be up front about the bonus thing and are either able to delay their start date or I have even seen where people have been able to turn their annual bonus into a sign on bonus with new company.

  14. Anya Irinami

    You can get the bonus from the new company as a sign up bonus OR they can wait for you to give notice after the bonus is paid off. The new employer's choice: bring it up to the and let them decide.

  15. Anonymous

    Read your hiring documents - it should say what is required to earn the bonus. I know many who stay at their job until April 1st for the bonus they earned. even if you get an offer mid-march - you can give a start date as April 1st as you need a 2 week notice (not always but for this - let's say you have to give 2 weeks.) The new company should understand this

  16. Anonymous

    in my experience working in HR benefits, it’s up to company policy. Read your hiring docs. It probably will give details on the bonus.

  17. Jen Kuntzi

    If the new company really wants you, they'll wait if you explain. We're waiting on a new Director to get his bonus before he quits at his current company - we did the offer back in December. Another option is to ask for a signing bonus if they want you to start sooner to help offset what you'd lose if you quit sooner.

  18. Anonymous

    Everyone I know waits to give notice AFTER they’ve received their bonus! I’ve never heard of a company paying bonus to an employee that is terminated. However check your company policy.

  19. Shanna Williams

    You will not get that bonus if you give your notice before it hits your bank account.

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