Serving the Quantitative Finance Community
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- KackToodles
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if a person received almost no bonus even though his target was 150%, does it mean he should find another job?
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- KackToodles
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QuoteOriginally posted by: DominicConnorIt certainly is a signal.What reason did they give ? did i say me in this hypothetical? Suppose, for the sake of discussion, the boss said "the bonus is based on job performance. Still, we think you can do well if you apply yourself. therefore, in lieu of a bonus, we are awarding you a 5% raise in base and maintaining your 150% target bonus for next year."
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if you decide to move are you obliged to tell your future employer your previous compensation level? Is there any way they can confirm it?
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- KackToodles
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QuoteOriginally posted by: FVif you decide to move are you obliged to tell your future employer your previous compensation level? Is there any way they can confirm it? my new employers always ask to see my former pay stubs using the excuse that "we have to figure out your tax and social security withholding level."
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QuoteOriginally posted by: KackToodlesQuoteOriginally posted by: FVif you decide to move are you obliged to tell your future employer your previous compensation level? Is there any way they can confirm it? my new employers always ask to see my former pay stubs using the excuse that "we have to figure out your tax and social security withholding level."Is this legal ?
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- PlasticSaber
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In UK, you need to hand the P45 form generated by your old employer to the new employer. It documents how much you have already earned for the current tax year....
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- ArthurDent
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In the US, the tax system is more anonymous in that if you held 2 jobs in a year, whether serially or concurrently, both jobs will withhold tax from your pay as if it was the only job. You get back your share of the excess paid (without interest) when you file returns the next year, but the employer's share of excess Social Security tax withheld will never be refunded to the employer.
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- DominicConnor
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PlasticSaber is right, though of course if you move near the start of the tax year, all it covers is bonus.
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QuoteOriginally posted by: FVif you decide to move are you obliged to tell your future employer your previous compensation level? Is there any way they can confirm it?No has ever asked me, and it's a difficult number to confirm without your cooperation.Also it is very odd for an employer to ask for tax stubs, since they can just hand you the W-4 for you to fill out and at that point what happens is between you and the IRS.
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- KackToodles
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QuoteOriginally posted by: twofishThe important variable here is what did everyone else get? In my experience, coworkers do not tell each other what their exact bonus is and even if they did how can you believe them? People are too embarassed to admit they got a tiny bonus.
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- MrMartingale
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AFAIK BB banks routinely ask about previous compensation and HR seems to expect to get an answer.It seems pretty rude to me. Has anyone here tried to refuse to give the information ?
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QuoteOriginally posted by: PlasticSaberIn UK, you need to hand the P45 form generated by your old employer to the new employer. It documents how much you have already earned for the current tax year....yes, but if you move in the next tax year i.e. after April 6th all you can work out from the p45 is basic salary not last years total compensation level.