I just recently started working in Switzerland in a finance company. I am entitled to a voluntary bonus from my employer (if any!). Do you have any idea when year-end bonuses are normally paid in Switzerland?
Hi,
it varies.
You mean a discretionary bonus? Or 13th salary?
You just started the job and you're already looking for a bonus? Cheeky!!
I mean discretionary bonus!
Living in Switzerland, you learn to plan well ahead!
As SC says, it varies, but if it's performance-related I wouldn't be surprised if it comes in the April payroll to allow for the appraisal round to be completed.
by the way, if the qualifying year runs from 1.1 - 31.12 per annum, you'll end up getting your first bonus in early 2016. That's a typical implementation of these schemes.
In the finance industry normally you are givien your letter in February and the bonus is paid with the March salary.
As previous poster notes, usually you have to have been employed a full year before being entitled to a bonus.
Check your employment contract, it should be written down.
If your company has a HR department or any other employees, you could ask them.
or just ask a colleague... they will know the specific details applicable to your company!
or you could read the contract and T&Cs that you have clearly signed but not read before starting your new job
To be fair, if it's anything like mine, it'll be two pages of gibberish and TLA. Though my bonus is a relatively small part of the package, so it wasn't so important. I joined for the salary, and the bonus is, well, a bonus.
Some companies pay out a pro-rata bonus if you joined mid year. In case this is not in your contract, why not ask your manager/HR? It is a fairly important information.
i've seen companies not pay you any bonus at all if you resign or give notice prior to the payout date.
If "we" get one it comes out in March, which is handy since it is my birthday month I say "we" as I am not the earner but I do a good job in the spending of it... However, my OH's not in the finance world.
Why would they pay if your leaving, honest Swiss were talking about here
well, it is kinda harsh to say something like "ok, bonus payment is on 31 March, but since you will leave on 30 June, we're not going to pay it to you even though you are working that day".
maybe soon they will say, "btw, we know you're leaving in 3 months time, so we decided not to pay any of your wages from the date you gave notice"
it would be of little surprise to many that there usually is an increase in resignations in the few days after a bonus is paid out Paid on the 25th, resignation letter sent 26th by registered mail
We get ours with the March salary.
As that is about the time I get my tax pre-payment invitation, it comes in very handy.
I've been in the opposite case. I resigned in September and was pleasantly surprised to receive a pro-rata bonus payment the following March.
Keep in mind that the reason a bonus is paid, and this is usually stated in the contract or employee handbook, is not to reward you for doing good work, but to motivate you to continue to perform at that level; your "reward" for that is fair payment of your salary. Not much motivation to be had if you're leaving!