Signing Bonus, Employers asking staffs to repay bonus.
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 Jan 18 2023, 11:56 PM
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Newbie
37 posts Joined: Jul 2009 
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QUOTE(Lembu Goreng @ Jan 19 2023, 01:06 AM) TS is referring to annual bonus ie performance bonus In that case it's a bit odd. Paying back performance bonus for work done in previous year is tbh kinda weird.  Usually some calculative companies did not pay the performance bonus even if you're still serving notice period e.g. performance bonus for 2022 payable in first quarter 2023 and you didn't get it since you're serving 3-months resignation notice period. |
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Jan 19 2023, 12:00 AM
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Senior Member
1,129 posts Joined: Feb 2021
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QUOTE(genesiscopy @ Jan 18 2023, 11:56 PM) In that case it's a bit odd. Paying back performance bonus for work done in previous year is tbh kinda weird. It sure is odd, but not illegal.Usually some calculative companies did not pay the performance bonus even if you're still serving notice period e.g. performance bonus for 2022 payable in first quarter 2023 and you didn't get it since you're serving 3-months resignation notice period. In cases of sign on or retention bonus, you need to serve the term first then only they pay you. You dont have to return it back once they pay you. This is pretty normal for MNCs. This part that panda cannot understand. This post has been edited by Lembu Goreng: Jan 19 2023, 12:01 AM |
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Jan 19 2023, 12:11 AM
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Junior Member
108 posts Joined: Jul 2005 
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QUOTE(Mingu @ Jan 18 2023, 05:59 PM) Hi Serious K, my previous employer did something almost similar, giving half month advance bonus in december, then in april folowing year when performance result release, if u get level 1 then u nid to repay back that half month advance, level 2 means oni half month bonus, level 3 1 month, then 4 n 5I am curious about one thing, if you guys ever heard of employers asking they staff to repay the bonus if the staff leave within 12months after the bonus paid? they came out a signing bonus kinda shit and asking staff to sign it in-order to get bonus. |
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Jan 19 2023, 10:02 AM
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Probation
5 posts Joined: Dec 2022
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QUOTE(Noryume @ Jan 18 2023, 07:21 PM) What the clause in the letter that you sign? Signing/ Sign In / Sign On Bonus is an incentive for employee joining a company. Normally come with clause for duration of work. Some give upfront and some give after you completed the duration. I had been working here for 4years and now they are asking us to sign the signing bonus..I tendered |
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Jan 19 2023, 10:06 AM
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Probation
5 posts Joined: Dec 2022
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QUOTE(Thebestscammer @ Jan 18 2023, 07:43 PM) yes. in the west this is how it works. often its only for positions that are highly sought after / competitive and with start up company where they dont have alot of funds to begin with so they will offer to give you this and that package. But this is not an offer for new staff, this is a letter to old staff, whereby staff need to sign it inorder to get the bonus, and if staff is leaving in 12months, they can ask us to repay the bonus. How much? It will be case by case basis.but if they offer sign on bonus then either you are in a niche industry that they really want or you have a big dick that they want. either way, they want you thats why they give sign on bonus but the stipulation usually is if you leave then you have to give it back thats why alot of people force themselves to stay for at least 1 year before the jump ship silicon valley is notorious for this kind of hiring style |
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Jan 19 2023, 10:22 AM
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Junior Member
293 posts Joined: Sep 2012
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QUOTE(Thebestscammer @ Jan 18 2023, 07:43 PM) yes. in the west this is how it works. often its only for positions that are highly sought after / competitive and with start up company where they dont have alot of funds to begin with so they will offer to give you this and that package. Wow, big dbut if they offer sign on bonus then either you are in a niche industry that they really want or you have a big dick that they want. either way, they want you thats why they give sign on bonus but the stipulation usually is if you leave then you have to give it back thats why alot of people force themselves to stay for at least 1 year before the jump ship silicon valley is notorious for this kind of hiring style When MY started to have this practice  |
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Jan 19 2023, 10:28 AM
Show posts by this member only | IPv6 | Post
#47
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Junior Member
931 posts Joined: Oct 2013
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QUOTE(Mingu @ Jan 19 2023, 10:02 AM) I had been working here for 4years and now they are asking us to sign the signing bonus..I tendered Waaaa. Like that also can. If change in management ok la. |
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Jan 19 2023, 11:29 AM
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Senior Member
1,596 posts Joined: Sep 2021
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QUOTE(genesiscopy @ Jan 18 2023, 11:56 PM) In that case it's a bit odd. Paying back performance bonus for work done in previous year is tbh kinda weird. It is the company financial year ending. Some FY on 1st Qr, some 2nd QR, some at 3QR & some on 4th QR. Need to follow the FY date for accounting purpose.Usually some calculative companies did not pay the performance bonus even if you're still serving notice period e.g. performance bonus for 2022 payable in first quarter 2023 and you didn't get it since you're serving 3-months resignation notice period. An example, a company FY 22 could be ending on Jun 23, by issuing bonus now, they are paying the annual bonus but the evaluation taking into consideration is only 6 months is according to their FY 22. To avoid this dispute, the 6 months yet to evaluate should not be considered. |
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Jan 19 2023, 11:47 AM
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Junior Member
136 posts Joined: Aug 2005
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QUOTE(Mingu @ Jan 19 2023, 10:02 AM) I had been working here for 4years and now they are asking us to sign the signing bonus..I tendered your post is unclear. why do you keep using the term "signing bonus" then also say it is normal "performance bonus"?the term "signing bonus" is quite widely understood as a bonus offered by a company to a new employee on the condition that he/she stays with the company for a minimum agreed term. check here: definition of signing bonus if a company offers "signing bonus" to an existing employee, then it could be a sign that the company values that employee and doesn't want him/her to leave the company at least within the stipulated term. in the end: if you signed the agreement, then you already agreed to the terms. |
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Jan 19 2023, 12:30 PM
Show posts by this member only | IPv6 | Post
#50
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Junior Member
777 posts Joined: Feb 2019 From: 天涯海角 
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So if they fire you they need to pay extra compensation?
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