My banking bonus and discussing it

hoffmeister

whispony wrote: »

I used to work for LLoyds 24years ago and we were all paid a bonus even back then, everyone got one. They were based on job and length of service. Does lenght of service not still count and could this be why they are different?

Thanks for your suggestion, its appreciated mate. However its not calculated on length of service at all, infact one person who works 20 hours per week got £500 more than somebody who works 26 hours per week, despite the person who works 26 hours per week being at this company for 4 years longer. Yet again, two people doing the exact same job. Out of 40 people on my department, there are about 6 people who do extra things for managers and I can totally understand why they get more than others. Its the other 34 sitting ducks that are getting HUGELY DIFFERING bonus' which is the issue lol.

tight_arze

This sounds a similar situation to my place of work (I don't working in banking though). The company does not like workers discussing this information. I personally just see it as a way of financially rewarding the company favourites and giving the rest the scraps.

If it was done fairly there would be no need for any secrecy.

hoffmeister

tight_arze wrote: »

This sounds a similar situation to my place of work (I don't working in banking though). The company does not like workers discussing this information. I personally just see it as a way of financially rewarding the company favourites and giving the rest the scraps.

If it was done fairly there would be no need for any secrecy.

Best reply yet, thanks. You have summed up exactly what is happening as it sounds you have experienced something similar.

Sambucus_Nigra

How do you all know each other's bonuses if you aren't 'allowed' to talk about them?

If you all feel aggrieved; then put a solution to the company to either all share a percentage of the total bonuses - or base it on performance targets...whichever way someone is always annoyed as they feel they did more than someone else and got the same, or worked as hard as someone else and got less.

Whenever bonuses are applied - someone is always upset. Best thing is not to have them at all.

hoffmeister

Sambucus_Nigra wrote: »

How do you all know each other's bonuses if you aren't 'allowed' to talk about them?

We all tell each other everything, we are a very close community, hence thats why there is so much tension in the department at the moment.

I would prefer no bonus at all than this, or maybe just equally share the bonus pot between all employee's in the department.

DVardysShadow

Sambucus_Nigra wrote: »

.

Whenever bonuses are applied - someone is always upset. Best thing is not to have them at all.

Sometimes, it is done with the intention to upset, I think.

hoffmeister

DVardysShadow wrote: »

Sometimes, it is done with the intention to upset, I think.

It seems that way mate

FATBALLZ

I used to work for a company that paid bonuses, they had a decent system where you had objectives, were scored against them and a formula was applied to work out your bonus. They then changed the whole thing to a discretionary system where basically the manager decided everything, and it was the bosses favourites who did far better out of it, performance was an irrelevance. Although most people got more or less the same, I heard about of couple of people who were completely ineffective, and essentially spend their whole week doing politics rather than producing anything, who got bonuses over £20k.

Thankfully I'm now in a job where I'm paid what I'm worth in salary, and don't need to rely on a bonus to compensate for being underpaid.

As for there being a law against discussing bonuses, there isn't although you could be in breach of contract if you do (read your contract).

hoffmeister

FATBALLZ wrote: »

I used to work for a company that paid bonuses, they had a decent system where you had objectives, were scored against them and a formula was applied to work out your bonus. They then changed the whole thing to a discretionary system where basically the manager decided everything, and it was the bosses favourites who did far better out of it, performance was an irrelevance. Although most people got more or less the same, I heard about of couple of people who were completely ineffective, and essentially spend their whole week doing politics rather than producing anything, who got bonuses over £20k.

Thankfully I'm now in a job where I'm paid what I'm worth in salary, and don't need to rely on a bonus to compensate for being underpaid.

As for there being a law against discussing bonuses, there isn't although you could be in breach of contract if you do (read your contract).

Thanks for the info. The bosses favourites have certainly benefited from this year's bonus'.

Where can I get a copy of my working contract? Also, if it doesnt say that I cant discuss it, will that mean I can discuss it straight away or will there still be a chance their is a rule in place somewhere?

When I was handed an envelope with details of my bonus, the letter inside stressed not to discuss bonus's, but I dont know if thats in writing somewhere else.

PootleFlump_3

hayton2k3 wrote: »

boo hoo people got more than me.
ungrateful!!!!!!
bonus for bankers and banker workers should be given to local councils due to cuts.
go brown nose manager for a year and get the bonus you need.
Better still have a boob op and sex change to female. that will earn you £££££££££

Are you always a bit of an idiot or just today?
Immature generalised post which wasnt even worth reading.