Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I asked for an extension due to a health reason. But just feeling bad that 5 more days could have got some extra cash.
My current company does not know I am leaving yet. I will give them a 2 weeks when I am ready to join the new company.
If there is nothing I could do , I should probably just give up.
Why did you apply to a different company when it appears you don't really want the position.
Do you have an actual health issue or did you lie about that?
If I were the one doing the hiring and you asked for an extension let alone an extension for a health issue your offer would have been immediately rescinded.
*Lose and Loose are two completely different words with two completely different definitions*
I have an offer from a company that is pushing me to join on Aug 10th
But, if I stay employed with my current employer for 5 more days until Aug 14th, I will receive failrly good bonus. approx 16% of base pay.
Thats a lot of money to let go.
The company policy is that I have to be employed on the bonus pay out date which is Aug 14th..
Is it worth to request my future employer to wait another week(I already pushed start date by 2 weeks from July 27th). Or, just forget that I lost 16% of my base as a bad dream.
You're assuming that, no matter when you give your notice, that your current company won't simply ask that your last day is Aug 13 if only to save them from paying your bonus. Unless you give your 2 week notice on Aug15, which means your start date at the new job will be Aug 29.
You're assuming that, no matter when you give your notice), that your current company won't simply ask that your last day is Aug 13 if only to save them from paying your bonus. Unless you give your 2 week notice on Aug15, which means your start date at the new job will be Aug 29.
Based on his statement "I will give them a 2 weeks when I am ready to join the new company.", it sounds like he plans to give them "two week notice" on Aug 15 but start with the new company on Aug 15, essentially quitting without notice despite calling it a two week notice.
Clarification, op? If you give notice to your employer before Aug 14 you can probably kiss your bonus goodbye, unless you're mission critical to your current employer.
Does your new company know that you will be leaving the bonus on the table, if so, perhaps, the sign-on bonus was meant to cover that, if not, then be upfront with the new company and tell them that you would prefer not o leave money on the table, and the two possible solutions are either that your start date gets pushed, or, they reimburse you for the bonus. I am a manager, and if I were presented with a situation like that for a new hire, I would definitely go for one of these solutions, most likely, moving the start date is easier than getting an approval from senior management to cough up another 10K.
This could end badly either way. I'd be honest with both sides and be prepared to lose the bonus. I think it's better than trying to game the system and look untrustworthy. Tell your current company that you got a great job offer, but they want you to start before the bonus is scheduled to pay out. Ask if you'll still qualify to receive it. (And someone above can later deny it, I've seen that happen).
Who knows? In some companies you are marched out the door when you give a notice. If that's the case, you can start the new job early.
IMO I would try my hardest to get that bonus. I would talk to my new manager if possible and just tell him. Hey bob. If I wait to start until the 15th to start I will get a bonus that I have been counting on. I don't want to walk away from it unless you absolutely need me before then.
Hey All, Awesome responses.
Let me recap so you all get clarity.
Company A(Current Company) :
- Bonus Payout Date = Aug 14th. I have to be employed on this day to receive bonus.(But, as I mentioned in my earlier post there is a clause where management can create an exception.)
- Reason I looked out for another job = I was anticipating that there would be lay offs in my dept. and I might get affected. So I found something much better.
- Yes, they finally did a lay off and fortunately, I didnt get impacted.
Company B(Future Company)
- Original Start Date on paper = July 27
- Adjusted start date by their own management = Aug 3rd
- Before they adjusted the start date, I negotiated the start date to Aug 10th as I genuinely need to seek medical attention.
My current company, expects just a 2 week notice. Which means if I give a notice of Day 1, I come to work for 2 more weeks and leave on Day 15.
With Aug 10th as my start date with Company B, I am planning to give notice to Company A on July 27th and work until Aug 7 and start at Company B on Aug 10.
Originally when Company B offered me a sign on bonus, I negotiated and they increased that by 30%. I don't think I have any more power to negotiate sign on bonus with Company B anymore.
Please suggest if I should once again ask Company B , and explain them honestly that if I wait for 5 more days, I will get 16% bonus and see if they would give me the 5 days extra or shall I just forget it and move on with the new company on Aug 10.
I would explain it to Company B and make it clear that you'd like to delay the start another week if it's not an inconvenience to them but you will be available to start Aug 10 if needed.
As mentioned, if you give notice to Company A on July 27 (or before Aug 14) they may let you go immediately so as not to pay you the bonus. One reason companies pay bonuses, in addition to reward for past performance, is to encourage retention and provide motivation for future performance. Knowing that you are leaving, paying you the bonus will be getting them nothing in the future.
I have an offer from a company that is pushing me to join on Aug 10th
But, if I stay employed with my current employer for 5 more days until Aug 14th, I will receive failrly good bonus. approx 16% of base pay.
Thats a lot of money to let go.
The company policy is that I have to be employed on the bonus pay out date which is Aug 14th.
The future company is a very large company , giving an awesome sign on bonus, relo package and rsu etc.
Is it worth to request my future employer to wait another week(I already pushed start date by 2 weeks from July 27th). Or, just forget that I lost 16% of my base as a bad dream.
Somehere in the IPI document I saw a clause :
"A Participant who is not actively employed and on the
payroll of ABC Company or an ABC subsidiary for any reason on the date a bonus award for
the Fiscal Year is paid is not entitled to a partial or pro rata bonus award. ABC may
make exceptions in its sole discretion, provided, however, any such exception must
be made by the Compensation Committee or its delegate"
How do I approach this situation.
Thanks,
Yes--definitely request it from the new company, and tell them why. I would think they will understand, and you are not asking for the world.
I've seen people getting hired making all kinds of deals part of the employment, like "I have a vacation planned, plane tickets, etc.," and it is before they would normally receive vacation time. Future employers will agree to a lot more than you think. This seems like a very reasonable request considering what I've seen people ask for when they get hired.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
