Paying back sign on bonuses?
- Thread starter stillh8unlv
- Start date
If the place is as bad as you say, expect them to go after you legally via a wage garnishment, in effort to let others know what is in store for them if they quit with a sign-on bonus still in play. Could screw up your credit rating and end up costing you more if they tack on any other filing costs, court costs, interest, etc.
Hate is a strong word, I would not say I hate it, hell I don't even mind coming into work in the morning even though I know there's 10 underlying problems that aren't going to allow me to resolve what I should be able to resolve in my position.
Hell, they like me a whole lot too - I wouldn't be surprised if they try to retain me.
This is one of those cute and bubbly on the outside, glossing over real issues on the inside situations with this particular company.
Aaaaaaaaand, as I said, they are in a constant state of flux as they buy and sell a lot of properties and competitors.
As was previously stated, they can sell it to a collector for nickles on the dollar and you have to deal with that. It can impact your credit score. I'd think long and hard about fighting them over it.
I think I'm most cases, employers don't want to hassle with this so they sell it off to a collections company. The collections company will hound you and if you don't pay them, it will go on your credit report. Better off working with your companies hr/payroll to see if you can reach some sort of settled payback amount and plan and being done with it vs. having it drag on thru a collections company
“That bullshit” being a contract you freely entered into? 🙄
Those are some shitty ethics and morals. A person shouldn't hold themselves to others ethics, but instead to what they would feel proud and acceptable.
They can go either way. “Usually” for exempt employees, a sign-on bonus is paid up front. For hard to find hourly employees (CDL drivers for example), the bonus is usually paid in quarterly installments over a designated period such as a year, as the employee could easily leave if another driving job down the street is offering more $ per hour. The non-exempt hourly employee is usually not required to pay back what they’ve been paid, I believe, if paid in installments.
No, it's exactly what YOU signed on for. Live up to your end of the deal. If you've been in the corporate world for 30 years, you should know how to do due diligence. Ever hear of Glass Door?
Not a big deal for the employer to attempt to claw it back. That's a small claims court situation. No need for lawyers or anything.
Bullshit. The company doesn't have ethics and morals. It is just a company. They needed to offer sign on bonuses and have a blackout clause to get people to work there.
If they ask for the money back he should give it back because it likely will end badly for him. If they don't ask for it back then he should keep it and move on with his life.
Screw your version of morality when it comes to corporate policy. I guarantee they didn't offer those incentives to be nice and would send him on his happy way in a second for ridiculous reasons. He owes them nothing
I, for one, will support people over corporations 99% of the time.
I find it hilarious how so many people freak out about rampant retail theft, or home invasion robbery. This theft in the United States account for a couple hundred million dollars. Wage theft, however, is estimated in tens of billions of dollars each year.
You should know better Finance. You do know better.
If they want the money back they will get it back. He doesn't owe them anything.
Sounds like they have a shitty culture and are using this so called incentive to trap people instead of improving their culture.
Exactly right
5k is less than a manager spent on his desk at one of the companies I worked with a while back.
I’m nothing but man you’ve had 30 years of experience. Sometimes a company will do anything to get back a $1 even if it costs them $10. It might not be a company priority but maybe someone you pissoff on the way out just has to get you for a win. I’d just offer the $3750 with a massive paper trail on that thing and some acknowledgments from multiple people and be done with the shit show.
He owes them what he agreed to pay them if he didn't meet his end of the bargain. Paying sign-on bonuses is in no way an indicator that a company sucks. The best companies do that, so your claim is wrong. I am not favoring the corporation over the individual. I am stating that a person should be good for their word and to the contracts they commit if they want to be ethical. Your ethics are not determined by the other person. They are determined by how you act. If you are not keeping your promises you are being unethical. He was not coerced or misled into taking the sign-on bonus. Your version of ethics is evidently a poor one.
Hey, Brian Ferentz has no problem raking in hundreds of thousands being an "Offensive" Coordinator.....it may very well be the Hawkeye way!
I pay it back. The contract should include terms for that. If you don’t have the cash ask them if they’d accept other terms for repayment.
I see tons of that here too - so, so many layers - everyone taking what they can for their "layer" - high dollar trips, high dollar spending.
Hell, the week I started some Maintenance VPs travelled to our plant to "celebrate" our plant having the best performance numbers for energy efficiency - I don't think they ever talked to our maintenance team - they barely talked to me as the site ops manager.
But they did manage to charge a $900 grill to our site because they thought we needed a second grill to get the free meal made (we didn't), they also bought a specialty $1600 cake for one of the VPs birthdays. It was like one of those cakes you see on those competitive baking shows - looked cool (record player/headphone motif, because the guy fancies himself some sort of musician), but tasted like store bought Betty Crocker box cake.
So stupid
Did they honor the terms of the agreement? Is your integrity worth more than $5,000. If so, pay it back.
It sounds like you missed the part in your ascent up the corporate ladder over a generation that if you don't use your budget, you lose it
Corporate misrepresented the culture. I'm guessing you don't have a problem with that part of any agreement to work somewhere
So you read the OP's employment agreement? Specifically, what part of the agreement did the employer breach?
I did not, which is why my post was a question and not a statement of fact, you massive dipshit.
Lol, what the fvck is up with this guy?
You and OP are why I refuse to hire poors. You don't have a basic understanding of what a contract means or what integrity is.
Good one....I deal with/hire/fire/counsel/babysit/coach "poors" everyday....I've seen more integrity in a lot of these 'poors' than numerous managers/vp's/owners.
GFY
