Decided to delete the forum topic as it is no longer required.
Giving Four Weeks Notice at My Current Job
mstest on 23/06/2022 - 15:41
Last edited 05/07/2022 - 15:25
Last edited 05/07/2022 - 15:25
Comments
Resign on 1 July.
They can take the bonus out of the final exit pay as it should not have been paid in June if you resign in June.
A sneaky option is to put in for holidays for all of July, but as it's only 7 days away I doubt they will agree to it and then resign on 1 July. I have seen people go on overseas holidays and send the resignation to the boss while they are on the way to the airport. The boss did not like to tell anyone what was going on and as such they stuffed him like he did to them.
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contingent upon you being an active employee of the Company and not having resigned or being within your notice period leading to those payment dates
This bit sounds pretty clear that you aren't eligible for the bonus if you're in your notice period.
I'd just wait until you get paid the bonus and then put in your notice.Apologies if it isn't clear, I have already been paid the bonus.
GOGOGO then
But they could deduct the bonus from your final months pay if you hand in your resignation 4 days early. Is it really that bad a place you need to get out 4 days early?
Not sure, I just don't like this place anymore and want to get out of here asap!
Correct, but it does say "leading to those payment dates". Payment date has passed. I think (note: IANAL) that OP is fine to give notice as per the exact wording of the email, they will not be in their notice period in the time leading to the payment date as the payment date has passed.
But if I was in OP's exact position, I'd give notice July 1st.
Once you've been paid your bonus, I would wait a few days and put in your notice period.
Thanks, I was paid on 15th of this month.
I'd wait till July 1st and hand in your resignation.
Is your bonus worth hanging around the week? From your post it is a 2 digit bonus.
My bonus is actually a 5-digit amount :)
are decimals digits ?
Think most businesses won't mind if you stay for the bonus.
I remember at the banks especially investment bank people would see bonus hit accounts than a big turnover so they can get bonus in their new job. No point joining after the bonus cut off or leave just before bonus being paid.
I'd say you're stuck with 1st July.
These two phrases seem to have you cornered mate""and not having resigned or being within your notice period leading to those payment dates."
" the company pays the entire monthly salary around mid-month; half month in arrears and half in advance."If you were getting paid fully in arrears I don't think you have a problem.
Yeah that seems pretty clear cut actually.
If you put your notice in now is there any chance they could deem you to not be an active employee, could they make any kind of argument that you should be fired with cause? Some employers can get very petty when you "break up" with them. Five digits is a heck of a lot of money, I don't care what anyone says. I'm sure five digits will also seem like a lot of money to your employer too.
I'm at good terms with the management. It'll be quite a significant amount of inconvenience for the company when I leave and I doubt they'd want to fire me - although not impossible, statistically speaking!
I would assume your bonus would be clawed back if you resign before 1 July, you would have not met the conditions for its payment, even though it has already been granted to you.
I suppose if you have no accrued leave or LSL to pay out so don't expect any further income payment at all, you could leave earlier and let them try and recover it, but for the sake of a week, I would wait.I have around ~17 weeks of accrued leave (LSL + Annual leave)
That's an amount of money I'd probably hang around for.
Thanks, yes, I don't think it's worth the risk. It's just another week and I'll wait.
I have around ~17 weeks of accrued leave (LSL + Annual leave)
No one stated the obvious - but given the consensus is to stick around for the extra week, now would be the perfect time to use up some sick leave.
Thanks, I am hoping that I won't get sick in the first place!
Rolling that payout into next FY would buy you time to work out how to deal with the tax implications of the payout as well.
Congrats on the new job!
Thanks!
Thanks everyone for your inputs. Appreciate it.
I will be waiting until the end of this month and start my notice period on 1st July. The bonus and the leave entitlements together seems like a decent amount not worth risking; and worth staying (or putting up) with the company for an extra week.
If you’ve been with the same company for 10 years, have you taken long service leave?
Nope, not at all.
Then you’ve got a huge payout coming your way.
At least 3 months salary averaged out over the last 10 years
Note period in July.
Try to negotiate a 3 week notice period. If that doesn't work - take sick leave for final days of old job so you can start new job.Resign and call in sick every day after.
Better than my employer. When they did bonuses (don't even get them anymore) it used to have to be 12m employed on 1st July and then they would pay like 3 months later only if you were still with the company. I think they saved a fair bit of money with those clauses
Are they what inspired your username?
Noticed a couple of people have mentioned taking sick leave. No offense intended and nothing personal against any of you but, sorry, that just seems rather unethical to me - unless of course if I am genuinely sick. I wouldn't want any of my direct reports doing this to me and my conscience doesn't allow me to do that either.
In all fairness to your current employer (and you have been paid some already, I would give notice as soon as possible, so as to give them a chance to replace you, plus you maybe able to take a break, or start early.
Sounds complicated, but obviously you want your bonus.