It’s Bonus and Increment Season: Time to Break Out the Champagne and Unicorns

It's good stuff, share it!Share on facebook
Facebook
Share on whatsapp
Whatsapp
Share on twitter
Twitter

Ah, bonus and increment season. That time of year when the air is filled with the sweet scent of expectation, and the sound of employees frantically refreshing their bank accounts to see if their hard work has paid off. It’s a magical time, full of unicorns and rainbows, and the occasional glitter bomb.

But let’s be real here. Bonus and increment season is also a time of stress, anxiety, and disappointment. For every person who gets a fat check and a pat on the back, there are ten others who are left wondering what they did wrong. Did they not work hard enough? Did they piss off the boss? Did they forget to wear their lucky socks on bonus day??!!

With high inflationary times, you might be left wondering whether your increment will cover the cost of living. Will you still be able to afford your favorite coffee shop or will you have to downgrade to instant coffee or worse – office pantry coffee that possibly taste like drain water?? Ok, I’m lucky, the office coffee is actually really good to a point I wish I went in to office more! (But I’ve been there before, in offices with truly sucky coffee!)

Then there’s also the awkwardness when colleagues get into that hush / hush and whisper / whisper vague chats about general emotions around what they got. The balancing act of being happy for your friends who got a bigger bonus than you did whilst your mind is racing wondering why didn’t you get a similar bonus. The poker face to not reveal too much of what you received but fully aware it’s a give-and-take situation to gauge what the team got. It’s like a game of social chess, but with less strategy and more small talk.

I went through a bit of a roller-coaster emotional ride myself then settled on a few conclusions:

  • First, be realistic. Don’t expect a massive windfall, but be grateful for whatever you do get. It’s clearly stated that bonus is discretionary (code for be happy no matter what you got). Increments are also discretionary, it might not move on par with actual inflation, but anything is better than nothing. And if you did indeed get nothing, I do think that’s worth a conversation with your manager.
  • Second, you know your worth. If it didn’t go the way you planned – have that conversation with the manage to shed more light on performance vs. incentives. If your manager felt you didn’t perform and it was contradictory to messages you received during the year, then make your manager actually tell you that! Remember, if you truly are valued, they would engage. If not, plenty of other companies out there that would be a better fit for you.
  • Lastly, it’s important to celebrate your successes, but don’t blow all your hard-earned cash on a single night out!!

All in all, I do hope that you are satisfied in general with what you received. Could it be better? ALWAYS!!! Is it the 6 month that folks in DBS received? I sure as well hope so for your sake!

For me, I still dream of the day my manager would tell me “Ms.K, times are tough so I am truly sorry but we can only afford to give you a six month bonus this year.” And I will feign disappointment while I shrug and say, “Thank you, it’s certainly a drop in the ocean compared to what I expect but I guess I’ll have to make do. Hope next year will make up for it.”

Instead, in the words of my manager – “Buy yourself an extra large pizza today and throw in a greek salad as well!” I thought that was hilarious, or perhaps painfully hilarious as a representation of the monetary amount 🙂 Ever the optimist, with the right attitude and a healthy dose of humor, I’ve made it through bonus season with my sanity (mostly) intact. And who knows, maybe next year I’ll be the one riding a unicorn to the bonus payout.

Author: Ms.K

Ms.K is everything that Mr.C is, without the natural interest in investing and company financials! The activity planner for the family, the driver of random ideas and soon to be ‘retiring’ in to full time motherhood – Ms.K has no idea what she’s in for but remains super excited!
It's good stuff, share it!Share on facebook
Facebook
Share on whatsapp
Whatsapp
Share on twitter
Twitter

Leave a Reply

Your email address will not be published. Required fields are marked *