Query on work benefit for new role - "top up" 24 July 2022 at 7:41PM in Employment, jobseeking & training 6 replies 281 views

Heardy92

Hi forum,

I've recently been offered a new role in a major financial institution, and among the perks "up to a 10% salary top-up annually".

Could someone help me to understand what this actually means practically?

Dazed_and_C0nfused

up to a 10% salary top-up annually

Sounds like a discretionary bonus.

Marcon

Heardy92 said:

Hi forum,

I've recently been offered a new role in a major financial institution, and among the perks "up to a 10% salary top-up annually".

Could someone help me to understand what this actually means practically?

Yes - the organisation offering it. It could be a bonus as suggested above, but these days it could be some sort of cost of living supplement. Don't be afraid to ask a potential employer exactly what their offering is when you aren't certain.

Own_Worst_Enermy

A medium to large company may spare up to the hour on your first day going through benefits.

This happened recently, HR described that my tax code would be adjusted for home working and a monthly payment of £26 happens for working from home - never ever heard such a thing before but HR was definitely the first stop for a hour on the first day describing eligibility for this benefit and that as additional to salary.  Plus I really had no idea this time, but seem to have landed a company who are going to announce in next to no time again a salary raise which is going to cause people to be happy.

400ixl

If it is a discretionary bonus you need to understand what the conditions are for it to be activated. Will it be based on company performance, personal performance, a mix of both. It also sounds like it is on a sliding scale depending on level of performance etc.

Undervalued

400ixl said:

If it is a discretionary bonus you need to understand what the conditions are for it to be activated. Will it be based on company performance, personal performance, a mix of both. It also sounds like it is on a sliding scale depending on level of performance etc.

Although obviously if it is "discretionary" (as many are) these "conditions" can change at the firm's discretion!

400ixl

Yes, but the OP needs to understand what they are at the present time to understand the value as part. of any package. Any part of the employment contract can change but you still want to know what they are.