Monday, March 3, 2008

Raises and Bonuses


My annual review at work was last Friday, and I was pretty happy with my raise. I got a 6% raise, which is better, percentage-wise, than any of my previous raises in the five years I've been working for my boss. I was pretty happy with that! The extra money will be going towards our siding fund, of course!

My employer also decided to add a bonus program for my position. It's based on a combination of individual performance, company profitability, and tenure. I will be getting them three times a year (providing that my company is profitable) and my first one, which I got last month, was about $300 after taxes. That went toward our 2007 ROTHs, and future bonuses will probably also go towards either retirement or savings goals.

Yay for raises and bonuses!

What's the best/worst raise you've ever received?

4 comments:

Becky R said...

that's awesome. I can't wait until I am no longer self employed and get a steady paycheck and maybe a raise now and again. Way to go! I like your blog. -Becky R in NJ

Frugalchick said...

Congratulations! You must be really good at your job.

Becky@FamilyandFinances said...

Thanks, ladies!
@frugalchick: The funny thing is, my husband and friends give me a hard time about all of the free time I have at work. I work hard and accuarately when there's work to be done, but I do enjoy some free time. I usually spend it reading blogs (like yours)!

Ms. M&P said...

That's great! Congratulations! I don't think a raise can ever really be bad, but I did get a $1,000 raise once. It was about 2 weeks after I'd started a new job, and it was a nice gesture to show that they thought I was doing well, but after taxes it gave me just about $30 extra a paycheck. Kind of weird.

My best raise is the one I just got, but that was because of switching jobs. It boosted me almost $20K. CRAZY.