Raise vs Bonus
Raise vs Bonus
(OP)
Hello all,
I work for a consulting firm in the utilities sector. I recently got my PE, and am hoping for a bonus. The thought occurred to me though, it so happens I intend to purchase my first home next year, and some extra cash on hand would be useful. I considered asking for a bonus instead of a raise. I know that's not a great idea normally, but this license and (hopefully) a reward from my employer happens to coincide with an immediate use for money.
So, first off, is that a reasonable request? If so, how much is appropriate? It seems to me that a one time bonus should be more than a raise. Suppose I were expecting a 5% bonus for my PE... would asking instead for a 10% one time bonus be a fair trade? Another number?
I'm curious to hear your thoughts. Thank you for your time.
I work for a consulting firm in the utilities sector. I recently got my PE, and am hoping for a bonus. The thought occurred to me though, it so happens I intend to purchase my first home next year, and some extra cash on hand would be useful. I considered asking for a bonus instead of a raise. I know that's not a great idea normally, but this license and (hopefully) a reward from my employer happens to coincide with an immediate use for money.
So, first off, is that a reasonable request? If so, how much is appropriate? It seems to me that a one time bonus should be more than a raise. Suppose I were expecting a 5% bonus for my PE... would asking instead for a 10% one time bonus be a fair trade? Another number?
I'm curious to hear your thoughts. Thank you for your time.





RE: Raise vs Bonus
Suppose I were expecting a 5% raise for my PE... would asking for a 10% bonus be appropriate?
RE: Raise vs Bonus
RE: Raise vs Bonus
Now there are situations, such as sales-personnel where their comp-plans are a 'base pay' plus compensation based on the value of closed business with a 'bonus' for going over a certain multiple of your quota or some other final incentive for superior sales performance. That's different and while I worked in a sales environment for seven years, I was being paid as a professional and therefore only got an occasional minor 'bonus' linked to some stated goal or accomplishment, but not as part of an agreed-to compensation plan. And then at certain levels of management, there are bonuses paid on the performance and accomplishments of your organization, something that I only 'enjoyed' for a couple of my 49 year career. For example, our oldest son holds what's equivalent to a senior director/vice-president position for a large multi-brand national restaurant company where he's responsible for one of the brands (65+ stores with something like 4,500 people and this is just the food preparation side of the business and not the front service or bar segments). Now his comp-plan is heavily weighted toward performance-based bonuses, paid quarterly in addition to his base pay, but that's very different than what you're talking about or what regular professionals would encounter in the engineering workplace, at least based on what I've seen.
John R. Baker, P.E. (ret)
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RE: Raise vs Bonus
Cheers
Greg Locock
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RE: Raise vs Bonus
RE: Raise vs Bonus
RE: Raise vs Bonus
If there's any odour of that in your recent behaviour, then here's what your boss could be thinking:
"This guy's trying to get an extra few grand out of us before he quits next month."
You may not think that way, and maybe you have no intention of leaving, but maybe your boss had an employee do that already - maybe your boss is the type that would do that himself!
Sometimes, ideas may seem mutually beneficial in the mind of the team player, but appear to give too much advantage to the other guy, in the mind of the adversarial thinker.
STF
RE: Raise vs Bonus
Stick with the raise
RE: Raise vs Bonus
Dan - Owner
http://www.Hi-TecDesigns.com
RE: Raise vs Bonus
Please remember: we're not all guys!
RE: Raise vs Bonus
I don't see any harm in asking, as long as you explain the reasoning. I personally would be happy to help someone out, assuming it was an even trade (or better deal) for the company.
Good luck with your house search!
Please remember: we're not all guys!
RE: Raise vs Bonus
RE: Raise vs Bonus
She was disappointed, I was elated. I explained to her that they just gave her $500k over her carrier. Take out a low interest loan and relax as you pay it off.
It is all a matter of where your situation is and where you (think) you are headed.
= = = = = = = = = = = = = = = = = = = =
P.E. Metallurgy, Plymouth Tube
RE: Raise vs Bonus
I'll think some more
RE: Raise vs Bonus
RE: Raise vs Bonus
But if you aren't getting 5 percent annual bumps in your in your first 4 to 5 years out of school anyways, I would be looking hard at why not - unless you started at above average salary.
I think my annual raise and bonus were each about 15 percent during the year I got my PE. None of it was itemized as a specific reward for getting my PE, but I have no doubt it helped.
RE: Raise vs Bonus
I understand the math works out better in the long run. But, that assumes you won't get a bonus or a raise the next year that might be larger because your base pay is lower than what it might have been.
We usually give both raises and bonuses based on performance. More so on the bonus side if the employee deserves it.
There is a limit to the salary usually, no limit to the bonus... ;)