Bonus Coverage

Today is bonus day! I've had jobs previously that featured bonus compensation, I've had some that didn't. Managers at Taco Bell were eligible for a bonus every period, I wasn't the GM of the store though so it usually wasn't much. A GM can get a bonus up to 10% of money over the stores plan, so a GM's yearly bonus could be as high as $15,000 to $20,000. As an assistant manager I would get $25-$100 a period, 13 periods a year. Not that bad.

The movie theater I managed I also got a bonus, twice a year. Once was very tiny and based completely on theater performance as graded by the district manager. The cash pool started at $1,000 and increased every year you worked there by $200. Most theaters scored around 60-80% on the grading, so you would get 60-80% of your bonus. You also only got paid 50% of that during the middle of the year, the remaining 50% was awarded with your year end bonus. Our year end bonus was the 50% of the previous bonus plus another pool of money that was one of three amounts, based on which was higher. The same pool you had from your mid year bonus, say $1000 again if your threater wasn't within 5% of its budget for the year. If your theater was within 5% or met its budget then your pool started at 2x your mid year number, so $2000. The number you really shot for was betting your budget. If you beat your budget your bonus was your mid year number plus 1% of what you beat your budget by for a theater manager. Theater General Managers actually got 5% of how much you beat your bonus by, most people in charge of a theater didn't actually get the GM title. They reserved those for the theaters with 12+ screens, I worked there in the mid-90s when there was a lot more of theaters that size. GMs for monster theaters like any 16+ screen theater could bonus over $30,000 a year. I would get around a $1500-$2500 bonus at the end of the year.

RC2 offers a bonus to everyone above a certain pay grade, two below mine apparently. Only one person in the office here in Charlotte wouldn't be eligible for a bonus and he will probably be promoted before next year's bonus. I'm not really sure how they're calculated, they are talked about frequently over the year. The pool of money is generated based of your yearly income. I can't really talk about how much mine is or even what percentage, it is different per person and people from work sometimes read my blog. Let me just say it was a nice bonus.

The reason I'm writing about it is more to bitch about the stupid tax rate. Bonuses have their own tax codes and thus are taxed a tremendous amount more than your normal income. Just the fed income tax alone was more than I bring home on a check. I've always hated it, it has been years since I've had a bonus so I hate it now probably even more. It is like an old injury that hasn't bothered you for years but then creeps up and bites you again. The only nice thing is that is taxed higher than I pay annually in taxes so I will get most of the difference back, the IRS just needed it for an interest free loan.