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If you had to choose between a yearly bonus or a salary increase which would you choose?

In my Hubby's current job (which he hates and will be ending in one year or less) he is up for a yearly bonus in December because he exceeded his goal.

However there is a possibility that he will be offered a new job with new company before December. Better $$ and benefits too.

Obviously if he is not in his current position he will not get his bonus.

Answer Question
 
chefronswife

Asked by chefronswife at 11:46 AM on Sep. 17, 2010 in Money & Work

Level 15 (2,045 Credits)
Answers (11)
  • Assuming the money's not too different, I'd go for the salary increase over the bonus.
    SWasson

    Answer by SWasson at 11:48 AM on Sep. 17, 2010

  • I would take a salary increase. A bonus is only once... an increase is all year
    Mommy2Gabrielle

    Answer by Mommy2Gabrielle at 11:48 AM on Sep. 17, 2010

  • In your situation, I would go with the new job for more $$$ and better benefits. But, with my family, the benefits of any job mean alot!!!!
    mommy11260

    Answer by mommy11260 at 11:50 AM on Sep. 17, 2010

  • I would take the better job because by doing so you are not losing anything. The bonus is just that, a bonus beyond what you would typically have, so if you don't get it, you're not really losing anything & will maintain the status quo. Whereas, with the new job, DH gets away from a job he hates, the weekly paycheck will be better & you all get benefits, which is more like a triple bonus if you really think about it. With the new job, you lose nothing and gain a lot.
    mom2aspclboy

    Answer by mom2aspclboy at 11:50 AM on Sep. 17, 2010

  • Depends on:

    What the benefit difference is...

    And

    What the bonus stipulations are.

    If it's a bonus that is only received if "X" is accomplished during the year. And there's a chance that goal might not be met or is unable to be met due to circumstances beyond my control.. And the benies and overall payscael are better at the new job.. I would be taking the new job.

    If the benies are close to the same, and the bonus is a guaranteed thing, with no flux in amount. Then and only then would I consider staying at this job over taking a new on with guaranteed better benies and overall guaranteed income.
    pixie_trix

    Answer by pixie_trix at 11:50 AM on Sep. 17, 2010

  • Salary
    jnd951999

    Answer by jnd951999 at 11:55 AM on Sep. 17, 2010

  • I'd definitely take the salary increase, and in your family's situation it sounds like that would work out better for you guys, too.

    Also, usually bonuses are taxed at a higher rate than salary, so that's something to keep in mind, too!
    SAHM_USAF

    Answer by SAHM_USAF at 12:22 PM on Sep. 17, 2010

  • Salary increase. Perhaps if it's pretty close to December he may still qualify for the bonus as part of his last paycheck.
    keisha613

    Answer by keisha613 at 12:38 PM on Sep. 17, 2010

  • Oooo Good point! Yes bonus is taxed at a amuch higher rate so can pretty much cut your bonus in half and that is actually what you are bringing home.
    chefronswife

    Comment by chefronswife (original poster) at 12:38 PM on Sep. 17, 2010

  • If he hates his job, and the new one he make get will make him happier, then he should go with that. Can you really put a price on happyness?
    JessieAtHome

    Answer by JessieAtHome at 2:56 PM on Sep. 17, 2010

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