The majority of my team has announced their resignations around the same time, including myself, and it has gained c-level executive attention, to the point where the CFO was authorized to 'pay whatever we asked'.
Today, I indicated I would be willing to stay should I be offered a 250k retention bonus over 2 years of guaranteed employment.
I know there are different ways that retention bonuses get paid out, and wanted to help understand some of the common 'pitfalls' that are associated with such a request.
- What are the pros\cons to 'lump-sum' vs installments\prorated payout?
- How should I negotiate wording that wouldn't result in the company deciding at random that I didn't meet their goals and be on the line to pay the bonus back? (At will \ sole-discretion)
- Tax implications (eg supplemental income)
I'm also wary of the following situations:
- Expectations to work insane hours, (able to bake this into the contract?)
- Unachievable goals that set me up to fail so that they don't have to pay the full amount
Finally, as I don't have any experience with retention bonuses myself, I'd be interested to hear some pros\cons others have run into in their own experiences.
Thanks in advance!
-r
edit1: I did not demand the bonus, I was asked what it would take to keep me and this was my response
Submitted January 06, 2021 at 09:32PM by Schwerlin https://ift.tt/3s3ODcq
