Salary Bonus Quotes

your employees need more than just paychecks.

Don't you know that there's another bubble as well An expectations bubble. Bigger houses private planes yachts ...... stupid salaries and bonuses. People come to desire these things and expect them. But the expectations bubble will burst as well as all bubbles do. Come to my gallery and I will sell you beautiful things at a more reasonable price. But the point is that they will have value. Things of real beauty things of the spirit.

It is easy to be grateful for a bonus; it is character to be grateful for a salary.

Don't you know there's another bubble as well? An expectations bubble. Bigger houses, private planes, yachts... stupid salaries and bonuses. People come to desire these things and expect them. But the expectations bubble will burst as well, as all bubbles do.

The gods don’t like to enslave you. They don’t like to give salary. Ask them for bonus and you will get it beyond your wildest imaginations. How to ask? Simple. Be satisfied with what you have right now. Then everything you seek will be a bonus.

operation undergone voluntarily for the good of Society, not to mention the fact that it carries a bonus amounting to six months’ salary”;

The SEC pays peanuts and then wonders how it ended up with so many monkeys. Firms in the financial industry pay a salary plus a bonus

I'm a... seven-figure base salary, two digit million bonus a year asset manager..." Ghislain smiled, tiredly. "And you call me a 'pet?'" Emil laughed softly and tucked a lock of hair behind Ghislain's ear, as if he would a child, or a pet. "My dear, I am a son of the Dalca family and I just beat you until you were red, then fucked you. Is there another term you prefer?

bonuses don't really motivate workers. Once they reach a certain baseline salary, money is no longer the main driver. They need something more. Reams have been written about the Millennial generation's hunter for impact and meaning at work. In one way, I think Millennials (and Generation Z) are not so different from the rest of us. They just voice the desires the rest of us have learned to keep quiet.

I cannot decide how much to borrow, what shares to issue, at what price, what wages and bonus to pay, and what dividend to give. I even need the government's permission for the salary I pay to a senior executive.

the dinners with Musk and Altman was a research engineer at Google, Ilya Sutskever. They were able to lure him away, with a $1.9 million salary and starting bonus, to be the chief scientist of the new lab. Page was furious.

Sylvester says they sold their lefty student principles, if they ever had them, as soon as they left university and accepted an overpaid starter-salary in a morally objectionable corporate job offering lucrative career prospects and inflated annual bonuses which soon turned them into filthy-rich Tories with a hatred of the social welfare infrastructures they’re actively not contributing to through tax avoidance and evasion while hypocritically scorning the underclasses as the scourge of society who sponge off the state when they’re the ones who are the biggest scroungers on society with no sense of community responsibility other than a very self-aggrandizing, tax-deductible form of fashionable charity they like to call philanthropism!

So you open your mouth and listen to yourself say, “I want eight thousand a day. Plus expenses.” This is the polite, industry-standard way of saying “piss off, I’m not interested.” You did the math over your morning coffee: You want to earn 100K a year, what with those bonuses you’ve been pulling on top of your salary. (Besides, a euro doesn’t buy what it used to.) There are 250 working days in a year, and a contractor works for roughly 40 per cent of the time, so you need to charge yourself out at 2.5 times your payroll rate, or 1000 a day in order to meet your target. Not interested in the job? Pitch unrealistically high. You never know… “Done,” says Mr. Pin-Stripe, staring at you expressionlessly. And it is at that point that you realize you are well and truly fucked.

Their fealty is seemingly to each other, their tribe, ahead of any ideology or anything else. Their pasts, presents, and futures are all deeply intertwined in a way that mine are not. They hire each other for jobs with big salaries, responsible for each other’s promotions and bonuses. A tiny enmeshed group of people increasingly responsible for shaping the attention of billions. Their preferences turned into policy.

When I interviewed with the Chief of Family Medicine at a large medical corporation on the West Coast, he explained that, since he was part of a team of people who arranged for pharmaceutical companies to issue cash grants, he was in a position to offer me a particularly enticing salary. “What are the grants for?” I asked. “We have a quality improvement program that tracks physician prescribing patterns. We call it ‘quality’ but it’s really about money.” And that’s all it’s about. It works like this. In his organization, any patient with LDL cholesterol over 100 is put on a cholesterol-lowering medication. Any person with a blood pressure higher than 140/90 is put on a blood pressure medication. Any person with “low bone density” is put on a bone-remodeling inhibitor. And so on. The doctors who prescribe the most get big bonuses. Those who prescribe the least get fired. With a hint of incredulousness in his voice, he explained, “So far, every time we’ve asked for funding for our program, the drug companies give it to us.” If this is where healthcare is headed, then these hybrid physicians-executives will instinctively turn their gaze to our children and invent more creative methods to bulldoze an entire generation into the bottomless pit of chronic disease.

If we move even higher up the salary and bonus scale to look at the top 0.1 or 0.01 percent, we find even greater increases, with hikes in purchasing power greater than 50 percent in ten years.22 In a context of very low growth and virtual stagnation of purchasing power for the vast majority of workers, raises of this magnitude for top earners have not failed to attract attention. Furthermore, the phenomenon was radically new,

As long as I’m earning money and I stay inside my limits, everyone’s happy. What’s more, it makes me top earner in the firm. Do you see this office? The boss of Barclays Thailand used to sit here. You might be wondering why a lousy broker like me is here. It’s because there’s only one thing that counts in a brokerage company: how much money you earn. Everything else is decoration. Bosses, too. They’re only administrators who are dependent on those of us in the market to keep their jobs and salaries. My boss has now moved to a comfortable office on the floor below because I threatened to go to a competitor with all my clients if I didn’t get a better bonus agreement. And this office.

Bank-friendly writers and lobbyists fostered a myth that the economy needed its investment banks to remain solvent to keep the economy functioning. But many former officials, including Bair, SIGTARP‘s Neil Barofsky, and Reagan Administration budget director David Stockman, rejected the claims that public guarantees for reckless bank loans was needed to protect insured depositors. Retail savings and checking accounts were never threatened by the bad gambles that banks made. But this myth had to be promoted in order for Paulson, Geithner Bernanke and other bank protectors to persuade Congress to overrule Bair and make government (“taxpayers”) pay. Their aim was to save the banks from being nationalized, and to protect bankers from being prosecuted for fraud or reining in the exorbitant salaries and bonuses they had given themselves. No attempt was made to change the system that had led to the crash. If

So, absent the chance to make every job applicant work as hard as a college applicant, is there some quick, clever, cheap way of weeding out bad employees before they are hired? Zappos has come up with one such trick. You will recall from the last chapter that Zappos, the online shoe store, has a variety of unorthodox ideas about how a business can be run. You may also recall that its customer-service reps are central to the firm’s success. So even though the job might pay only $11 an hour, Zappos wants to know that each new employee is fully committed to the company’s ethos. That’s where “The Offer” comes in. When new employees are in the onboarding period—they’ve already been screened, offered a job, and completed a few weeks of training—Zappos offers them a chance to quit. Even better, quitters will be paid for their training time and also get a bonus representing their first month’s salary—roughly $2,000—just for quitting! All they have to do is go through an exit interview and surrender their eligibility to be rehired at Zappos. Doesn’t that sound nuts? What kind of company would offer a new employee $2,000 to not work? A clever company. “It’s really putting the employee in the position of ‘Do you care more about money or do you care more about this culture and the company?’ ” says Tony Hsieh, the company’s CEO. “And if they care more about the easy money, then we probably aren’t the right fit for them.” Hsieh figured that any worker who would take the easy $2,000 was the kind of worker who would end up costing Zappos a lot more in the long run. By one industry estimate, it costs an average of roughly $4,000 to replace a single employee, and one recent survey of 2,500 companies found that a single bad hire can cost more than $25,000 in lost productivity, lower morale, and the like. So Zappos decided to pay a measly $2,000 up front and let the bad hires weed themselves out before they took root. As of this writing, fewer than 1 percent of new hires at Zappos accept “The Offer.

Ultimately, the World Top Incomes Database (WTID), which is based on the joint work of some thirty researchers around the world, is the largest historical database available concerning the evolution of income inequality; it is the primary source of data for this book.24 The book’s second most important source of data, on which I will actually draw first, concerns wealth, including both the distribution of wealth and its relation to income. Wealth also generates income and is therefore important on the income study side of things as well. Indeed, income consists of two components: income from labor (wages, salaries, bonuses, earnings from nonwage labor, and other remuneration statutorily classified as labor related) and income from capital (rent, dividends, interest, profits, capital gains, royalties, and other income derived from the mere fact of owning capital in the form of land, real estate, financial instruments, industrial equipment, etc., again regardless of its precise legal classification). The WTID contains a great deal of information about the evolution of income from capital over the course of the twentieth century. It is nevertheless essential to complete this information by looking at sources directly concerned with wealth. Here I rely on three distinct types of historical data and methodology, each of which is complementary to the others.25 In the first place, just as income tax returns allow us to study changes in income inequality, estate tax returns enable us to study changes in the inequality of wealth.26 This

One of the biggest challenges implementing agile is the reward system. For example, individual salary scales and rewards can be decoupled from the function and substituted by group valuation rewards linked to the capacity of both the employee and/or the team. Or, it is possible to make a distinction between the fixed salary and flexible performance bonus, detached from the annual budget and not considered a personnel expense. The reward system is always the last to change, but it is crucial to include this subject in the initial conversations with the different stakeholders around agile projects.

.. Italian journalists (like members of the Italian parliament) are among the best paid in the world. ... By law, all journalists get not only the extra 13th month bonus in December, but a 14th month paycheck in June. When you start out, you nevertheless get 26 vacation days a year...plus five days of personal leave. After five years, your annual vacation days increase to 39 plus five days, and after 15 years to 35 days (plus five). Abs if you work for a lifetime, which means 35 years of social security contributions to INPG, you’ll end up with a pension that is pretty close to your final year’s salary.

Labor also dominates stories of elite income at the next rung down. Although only three hedge fund managers took home over $1 billion in 2017, more than twenty-five took home $100 million or more, and $10 million incomes are so common that they do not make the papers. Even only modestly elite finance workers now receive huge paydays. According to one survey, a portfolio manager at a midsized hedge fund makes on average $2.4 million, and average Wall Street bonuses exploded from roughly $14,000 in 1985 to more than $180,000 in 2017, a year in which the average total salary for New York City’s 175,000 securities industry workers reached over $420,000. These sums reflect the fact that a typical investment bank disburses roughly half of its revenues after interest paid to its professional workers (making it a better three decades to be an elite banker than to be an owner of bank stocks). Elite managers in the real economy also do well. CEO incomes—the wages paid to top managerial labor—regularly reach seven figures; indeed, the average 2017 income of the CEO of an S&P 500 company was nearly $14 million. In a typical recent year the total compensation paid to the five highest-paid employees of each S&P 1500 firm (7,500 workers overall) might amount to 10 percent of S&P 1500 firms’ collective profits. These workers do not own the assets—the portfolios or the companies—that they manage. Their incomes constitute wages paid for managerial labor rather than a return on invested capital. The enormous paydays reflect what prominent business analysts recently called a war between talent and capital—a war that talent is winning.

Socialism in Chinese style’ is in fact a phrase coined to save the face of the Chinese Communist leaders who do not have the courage to acknowledge openly that socialism has failed in China. They hope to revitalize the State-owned industries with methods of management copied from capitalist countries and to use market forces as a substitute for central planning while retaining State ownership of those industries. They want the Party-appointed managers, who are bureaucrats on fixed salaries, to achieve the same degree of expertise and commitment as the entrepreneurs of private industries in the West. They want the workers to work much harder and more competitively for bonuses and small increases in pay but reduced welfare benefits. And they hope everybody will be motivated by patriotism to achieve increased productivity and profit for the State but at the same time to remain honest and incorruptible.

Pia taught fourth-grade princesses, superheroes and villains found at the Kshama Sawant International Elementary School near Greenlake. That building took up the whole block and had about five hundred students. She’d been teaching for a while. It was one of the few jobs that got a little extra salary because of the special training required. That list was short and included physicians and nurses, teachers, and pilots. Teaching also included a bonus of four hundred a month extra, which Pia spent on travel, and her cat. Others had hobbies they loved, or personal projects.

More damningly, several studies of performance-related bonuses or salary increases have found that white men are rewarded at a higher rate than equally performing women and ethnic minorities, with one study of a financial corporation uncovering a 25% difference in performance-based bonuses between women and men in the same job.

Saving money from a monthly salary requires much more self-control.8 This might be why the savings rate of countries like Japan is higher than that of the United States. A higher percentage of income in Japan is from the year-end bonus. However, a simple environmental control of automatic payroll deduction or an automatic investment plan can make saving easier.

It was a moment where I realized that if we can back down that easily and we can get intimidated, then U.S. Soccer has the upper hand on us at all points in time because it didn’t take that much,” she adds. “We had the courage to say we were going to go on strike, and then, within a few days, we decided, no, we’ll get on the plane and play in Portugal.” During the Algarve Cup, discussions within the team continued and Langel met with U.S. Soccer for negotiations while the players were out of the country. By the time they got back, they were close to a deal with U.S. Soccer that would cover them both in the NWSL and in case the league folded. Striking was still on the table, but the players no longer felt it was necessary. Asked about a strike, U.S. Soccer president Sunil Gulati says he was never made aware that the team was considering it. In the end, the contract the two sides agreed to offered large increases in compensation for the national team. If the NWSL couldn’t get off the ground, salaries would go up between $13,000 and $31,000, depending on each player’s tier. But with the new league in place, salaries would stay almost the same while players would get an extra $50,000 NWSL salary. On top of their guaranteed income, more money than ever was available through performance bonuses and a $1.20 cut of every national team game ticket sold that would be put into a team pool. In the end, the biggest sticking point, however, wasn’t the compensation—it was locking the players into the NWSL. It became a requirement in their national team contract, and there was no backing out if the players didn’t like their club teams.

The larger truth that I failed to see turned out to be another of those paradoxes—like the discounters’ principle of the less you charge, the more you’ll earn. And here it is: the more you share profits with your associates—whether it’s in salaries or incentives or bonuses or stock discounts—the more profit will accrue to the company. Why? Because the way management treats the associates is exactly how the associates will then treat the customers. And if the associates treat the customers well, the customers will return again and again, and that is where the real profit in this business lies, not in trying to drag strangers into your stores for one-time purchases based on splashy sales or expensive advertising. Satisfied, loyal, repeat customers are at the heart of Wal-Mart’s spectacular profit margins,

Remember, executives ask for more all the time. Salary. Stock options. Bonuses. Additional PTO. Extra personal hours on the company jet. A nanny who travels with you and your baby if business takes you away from home. When you work in human resources, you see firsthand how leaders carry themselves into salary negotiations—with a sense of entitlement.

What are your strengths? How do you know that? What do you need to work on? How do you know that? How are you working on this area? Is your company helping? When was your last promotion? How was the promotion communicated to you? What is the one thing you believe you did to earn this promotion? When was your last compensation increase? (Compensation = base salary + bonus and/or stock.) Do you feel fairly compensated? If not, what would you consider fair compensation? What facts do you base that opinion on? Have you told this to your manager? When was the last time you received useful feedback from your manager? What compliment do you wish you could receive about your work? Are you learning from your manager? What was the last significant thing you learned from them? What was the last thing you built at work that you enjoyed? What was your last major failure at work? What’d you learn? Are you clear about the root causes of that failure? What was the last piece of feedback you received (from anyone) that substantially changed your working style? Who is your mentor?1 When was the last time you met with them? When was your last 360 review?2 What was your biggest lesson? When did you last change jobs? Why? When did you last change companies? Why? What aspect of your current job would you bring with you to a future gig? What is your dream job? (Role, company, etc.) What is a company you admire? What attributes do you admire? Who is a leader that you admire? What are the qualities of that leader that you admire?

It’s a hard policy to sell to most managements. Even to my own management! For years I used to take all new employees to lunch. Among other admonitions, I told them that if they ever got a better offer, they should take it. As soon as they could, my field supervisors ended those lunches. Another frank idea was vetoed by my top people: I wanted to publish their salaries and bonuses, and mine, every year when we issued our annual compensation bulletins.

Under the new regime, the financial sector has become much more profitable than the non-financial sector, which had not always been the case.16 This has enabled it to offer salaries and bonuses that are much higher than those offered by other sectors, attracting the brightest people, regardless of the subjects they studied in universities. Unfortunately, this leads to a misallocation of talents, as people who would be a lot more productive in other professions – engineering, chemistry and what not – are busy trading derivatives or building mathematical models for their pricing. It also means that a lot of higher-educational spending has been wasted, as many people are not using the skills they were originally trained for.

How To Collect Your Achievement Stories Before we can write our Achievement Stories, we need to identify each and every one. This will take some work, but the payoff is employment and higher wages and salaries. Because I want you to look as impressive as possible, I’m going to remind you of all of the places where your achievements can be found: Performance Reviews I worked at a place where, at the end of every year, my boss had to convince his peers why I should get a raise and or a bonus. As a result, my performance reviews were a great place to find achievements I might have forgotten about. Awards Every time you receive an award, you have evidence that you are special. Depending on the number of achievements, you might want to list your awards as achievements. Usually, the reason you received the award is an achievement. Promotions Getting promoted is an achievement. Your promotion says to the hiring manager, “This woman is so good that we gave her more responsibility and a higher salary.

How To Collect Your Achievement Stories

 Before we can write our Achievement Stories, we need to identify each and every one. This will take some work, but the payoff is employment and higher wages and salaries.

 Because I want you to look as impressive as possible, I’m going to remind you of all of the places where your achievements can be found:

 Performance Reviews 

I worked at a place where, at the end of every year, my boss had to convince his peers why I should get a raise and or a bonus. As a result, my performance reviews were a great place to find achievements I might have forgotten about.

 Awards 

Every time you receive an award, you have evidence that you are special. Depending on the number of achievements, you might want to list your awards as achievements. Usually, the reason you received the award is an achievement. 

Promotions 

Getting promoted is an achievement. Your promotion says to the hiring manager, “This woman is so good that we gave her more responsibility and a higher salary. Bosses and Coworkers If you’re wracking your brain trying to think of achievements, consider giving a list of the achievements you’ve identified to bosses and co-workers. Then ask them, “What’s missing? What have I left out?” Emails If you have access to your old emails, go through each one to see what you can find. I did this every year when my boss asked for my achievements, this gave him the ammunition he needed to negotiate for my raises. This is the ammunition you need to win over the hiring manager. LinkedIn Recommendations Just the other day, I was reading my LinkedIn recommendations and was reminded of an accomplishment I had not included in my LI profile or resume. As you read each recommendation, think about the work you did with that person. It may jog your memory and help you remember things you’ve left out.

We’ve looked at over a dozen policies and processes that most companies have but that we don’t have at Netflix. These include: Vacation Policies Decision-Making Approvals Expense Policies Performance Improvement Plans Approval Processes Raise Pools Key Performance Indicators Management by Objective Travel Policies Decision Making by Committee Contract Sign-Offs Salary Bands Pay Grades Pay-Per-Performance Bonuses These are all ways of controlling people rather than inspiring them. It’s not easy to avoid chaos and anarchy as you remove these controls, but if you develop every employee’s sense of self-discipline and responsibility, help them develop enough knowledge to make good decisions, and develop a feedback culture to stimulate learning, you’ll be amazed at how effective your organization can be.

The larger truth that I failed to see turned out to be another of those paradoxes—like the discounters’ principle of the less you charge, the more you’ll earn. And here it is: the more you share profits with your associates—whether it’s in salaries or incentives or bonuses or stock discounts—the more profit will accrue to the company. Why? Because the way management treats the associates is exactly how the associates will then treat the customers. And if the associates treat the customers well, the customers will return again and again, and that is where the real profit in this business lies, not in trying to drag strangers into your stores for one-time purchases based on splashy sales or expensive advertising. Satisfied, loyal, repeat customers are at the heart of Wal-Mart’s spectacular profit margins, and those customers are loyal to us because our associates treat them better than salespeople in other stores do. So, in the whole Wal-Mart scheme of things, the most important contact ever made is between the associate in the store and the customer. I

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Amabile goes on to observe that “The more complex the activity, the more it’s hurt by extrinsic reward.” Interestingly, the studies suggest that flat salaries don’t demotivate, but piecework rates and bonuses do. Thus, it may be economically smart to give performance bonuses to people who flip burgers or dug ditches, but it’s probably smarter to decouple salary from performance in a programming shop and let people choose their own projects (both trends that the open-source world takes to their logical conclusions). Indeed, these results suggest that the only time it is a good idea to reward performance in programming is when the programmer is so motivated that he or she would have worked without the reward! Other researchers in the field are willing to point a finger straight at the issues of autonomy and creative control that so preoccupy hackers. “To the extent one’s experience of being self-determined is limited,” said Richard Ryan, associate psychology professor at the University of Rochester, “one’s creativity will be reduced as well.” In general, presenting any task as a means rather than an end in itself seems to demotivate. Even winning a competition with others or gaining peer esteem can be demotivating in this way if the victory is experienced as work for reward (which may explain why hackers are culturally prohibited from explicitly seeking or claiming that esteem).

The best bonus of an employee is on time salary.

New York School Chancellor Joel Klein announced near the opening of the 2002–2003 school year that district superintendents would receive bonuses up to $40,000—about a quarter of their base salaries—if test scores improved in their districts. School

In addition to salary, all Mercadona employees, from the cleaner to the CEO, received an annual bonus if their individual and local goals were met and if the company met its overall targets. The bonus was two months’ salary for employees who had been with Mercadona four or more years and one month’s salary for those who had been there less than four years. In a typical year when company targets were met, about 95 percent of the employees qualified for the bonus because they had met their individual and local goals. If the company targets were not met, no one—neither the cleaner nor the CEO—would receive any bonus.4

When a man helps a colleague, the recipient feels indebted to him and is highly likely to return the favor. But when a woman helps out, the feeling of indebtedness is weaker. She’s communal, right? She wants to help others. Professor Flynn calls this the “gender discount” problem, and it means that women are paying a professional penalty for their presumed desire to be communal.10 On the other hand, when a man helps a coworker, it’s considered an imposition and he is compensated with more favorable performance evaluations and rewards like salary increases and bonuses. Even more frustrating, when a woman declines to help a colleague, she often receives less favorable reviews and fewer rewards. But a man who declines to help? He pays no penalty.11 Because

having a breakdown I might as well play along with it. I might snap out of it more quickly that way. I didn’t know anything about hallucinations and how they were caused but I guessed that eventually you came back to earth. All I had to do was wait. ‘How is Angela?’ I asked conversationally. ‘Fine,’ said the other Dervla. ‘She’s going out with Joe Magellan.’ ‘Joe Magellan? The guy from Operations?’ She nodded. ‘He’s Deputy Head of Operations now,’ she said. ‘A rising star in the company. Well, a risen star really. I doubt very much he’ll progress any further. But he’s doubled his salary and his bonus in the last couple of years.’ ‘Lucky Angela.’ I tried to keep a certain bitterness out of my voice. I’d fancied Joe Magellan myself for a while. But he was way out of my league with his toned and tanned body and his come-to-bed eyes. I looked at the other girl. The other me. Had she fancied Joe Magellan too? ‘Angela’s not so lucky,’ Dervla continued.

In the early years, top incomes were derived from capital, and the richest people were what Piketty and Saez call “coupon clippers,” who received most of their incomes from dividends and interest. The fortunes underlying these receipts were eroded over the century by increasingly progressive income and estate taxes. Those who used to live off their (or their ancestors’) fortunes have been replaced at the top by earners, people like CEOs of large firms, Wall Street bankers, and hedge fund managers, who receive their incomes as salaries, bonuses, and stock options. Entrepreneurial

not only deprives workers of the fruits of their labour by paying them 1/200th of the salary that goes to their CEO (the international average as of this writing, not including bonuses and stock options); it deprives workers of the very meaning of labour itself

Zuckerberg’s document laid out similar goals: “Restructure pay scale to increase base salaries for new hires . . . Abolish seniority as a factor in all personnel decisions and incentivize the removal of poor performers.” He also wrote that he wanted the best teachers to receive bonuses of up to fifty percent of their salary, the kind of incentives paid to top workers in Silicon Valley.

After the September 11th tragedy in New York City, people began to tell others what their loved ones, who had been trapped in the twin towers in New York, had said to them in frantic telephone conversations or email messages. Those who received calls from mobile phones from the doomed planes also told their stories. Some re-listened to messages left on answerphones. And as they shared their experiences, it was immediately evident that the same three words kept coming up time and time again. Those words did not refer to size of salary or bonuses, nor to the type of car recently purchased or expensive holidays taken. No. Lovers said them to lovers, husbands to wives, friends to friends and parents to kids: ‘I love you.’ ‘Tell Suzanne, I love her.

Ma’am, my mother was a single parent after my father passed away, and Black to boot. And she raised her three Black kids on a teacher’s salary, and somehow managed to never hit us. Not once.” Drew is breathing hard. “Added bonus? We’re all still alive.” “Eat shit.” “You first.

Salary increases in terms of percentage are too close between the top performers and those who are not. There’s not enough differentiation in bonus, or in stock options, or in stock grants. Leaders need the confidence to explain to a direct report why he got a lower than expected reward. A good leader ensures that the organization makes these distinctions and that they become a way of life, down throughout the organization. Otherwise people think they’re involved in socialism. That isn’t what you want when you strive for a culture of execution. You have to make it clear to everybody that rewards and respect are based on performance. In chapter 4, we’ll explain why so many companies don’t reward the doers, and how those that execute do.

And here it is: the more you share profits with your associates—whether it’s in salaries or incentives or bonuses or stock discounts—the more profit will accrue to the company. Why? Because the way management treats the associates is exactly how the associates will then treat the customers. And if the associates treat the customers well, the customers will return again and again, and that is where the real profit in this business lies,

When you go to a job interview, nobody is really interested in your background, but on what you can actually do and how committed you are in applying disciple and self-control to learn, improve your results, and improve the relationships and communication inside the company where you work. Therefore, having a PhD but no capacity to empathize or work on new methodologies means nothing, which is why so many people with PhDs work as supermarket cashiers and bartenders, or can't even find a job. Prepare your Curriculum in such a way that anyone can see in the front page all the things you have done and studied on your own, and add to the information the topics you actually studied and can apply. Your employer doesn't care if you went to university for it or learned from a laptop while in pajamas during a Sunday morning. He cares about what you can do to improve his results. If he raises your salary after you make him rich, great, and if not, you can use that opportunity as leverage to a better opportunity with a much higher salary. But always remember that, as an employee, your purpose is not to get a salary but to make your boss rich. The salary is a bonus you get from that intention. If you want to become rich yourself, you have to start your own company and work as many hours as your boss did and employ people who aren't willing to make you rich because they only care about their own salary, people who in many cases have diplomas but can't do anything useful. You will be surprised with how many useless people there are in the world, which is why interviews can last weeks and months before someone is selected for a position.

1. If you’re starting a new sales organization, do not offer traditional monthly cash commissions. It’s best to have everyone in your company compensated in the same way—so offer salespeople a competitive salary and sales performance bonuses of additional stock options that vest over time. Stock provides a built-in incentive to stick around and invest in long-term customers who are good for the business. 2. If you’re trying to transition to a relationship-driven culture, you may not be able to kill traditional commissions right away. In that case, any stock or cash (stock is still preferable) that you give as a commission should vest over time. Pay 10–15 percent of the commission at first, then another tranche in a few months, then another a few months after that, etc. If the customer leaves, the salesperson loses the remainder of their commission. 3. Every sale should be a team sale. So if you have a customer success team (the team that actually delivers, sets up, and maintains whatever is sold to the customer), then it should sign off on every deal. Sales and customer success should be under one leader, in the same silo, being compensated in the same way. In this setup, sales can’t just throw a customer over the fence and never think about them again. If there’s no customer success team, then sales should work very closely with customer support, operations, or manufacturing—create a board of people to approve each commitment.

high cash compensation teaches workers to claim value from the company as it already exists instead of investing their time to create new value in the future. A cash bonus is slightly better than a cash salary—at least it’s contingent on a job well done. But even so-called incentive pay encourages short-term thinking and value grabbing. Any kind of cash is more about the present than the future.

We made no exceptions for the fact that this was Hollywood. We used the Bar Raiser process to hire each member of the Studios team, and they would have to get accustomed to our frugal ways, including working in small, shared offices or open workspaces, a base salary capped at $160K, no cash bonus program, and riding in coach, not first class. This made for some hard conversations.

We were constantly told that we were the ‘owners’ of the business and had to behave as such. We believed the marketing shtick. I have since learnt that unless you own physical shares in a business, you are not an owner. You remain an employee at someone else’s mercy. It does not matter how attractive the salary, the bonus or the share option pool; you are an employee.

I’ve certainly found this to be true at Netflix. People are most creative when they have a big enough salary to remove some of the stress from home. But people are less creative when they don’t know whether or not they’ll get paid extra. Big salaries, not merit bonuses, are good for innovation.

By avoiding pay-per-performance bonuses you can offer higher base salaries and retain your highly motivated employees. All this increases talent density. But nothing increases talent density more than paying people high salaries and increasing them over time to assure they remain top of market.

The methods used by most companies to compensate employees are not ideal for a creative, high-talent-density workforce. Divide your workforce into creative and operational employees. Pay the creative workers top of market. This may mean hiring one exceptional individual instead of ten or more adequate people. Don’t pay performance-based bonuses. Put these resources into salary instead. Teach employees to develop their networks and to invest time in getting to know their own—and their teams’—market value on an ongoing basis. This might mean taking calls from recruiters or even going to interviews at other companies. Adjust salaries accordingly.

The engine is never your salary; the engine is the employer's pressing business needs. The next car back has your responsibilities that will address the company's needs and goals. The next car back is filled with your differentiators that address the employer's pressing business needs. The next car back might be a bet on how your unique capabilities will address the company's needs and the performance that you will achieve. The next car back is filled with other differentiators and additional Storytelling Issues. The caboose is your salary and annual bonus. The caboose is always attached to the train and rides along, but it comes at the end of the discussion, not the beginning of the conversation.

Companies remain intent on maximising profits, personal salaries, bonuses and career opportunities. Conferences on mindfulness, ethics and vision seem little more than exercises in public relations. These gestures seem trivial in comparison to the core aims of corporations. A meteor will land one day and extinguish them.

We’ve looked at over a dozen policies and processes that most companies have but that we don’t have at Netflix. These include: Vacation Policies Decision-Making Approvals Expense Policies Performance Improvement Plans Approval Processes Raise Pools Key Performance Indicators Management by Objective Travel Policies Decision Making by Committee Contract Sign-Offs Salary Bands Pay Grades Pay-Per-Performance Bonuses These are all ways of controlling people rather than inspiring them.

Yang banyak mikir dan mewujudkan tujuan kantor pasti karyawan, tapi nanti di akhir bulan atau akhir kesuksesan, berita yang dibahas pasti soal para VP atau para CTO-nya yang keren dan tampak bonafide. Di balik semua kesuksesan itu, mungkin ada banyak karyawan yang nyaris tewas dan sampai diinfus beberapa hari karena kurang istirahat. Ya... walau memang dikasih bonus juga, sih.

Kita bekerja karena paling suka pas gajian udah datang berikut segala bonus-bonus karyawan. Hidup tuh, kayaknya bagi karyawan seperti kita, cuma satu bulan jaraknya. Dari gajian ke gajian.

Here is a sample of the decisions managers at Google cannot make unilaterally: Whom to hire Whom to fire How someone’s performance is rated How much of a salary increase, bonus, or stock grant to give someone Who is selected to win an award for great management Whom to promote

Traditional performance management systems make a big mistake. They combine two things that should be completely separate: performance evaluation and people development. Evaluation is necessary to distribute finite resources, like salary increases or bonus dollars. Development is just as necessary so people grow and improve.” 121 If you want people to grow, don’t have those two conversations at the same time. Make development a constant back-and-forth between you and your team members, rather than a year-end surprise.

As Prasad Setty explains, “Traditional performance management systems make a big mistake. They combine two things that should be completely separate: performance evaluation and people development. Evaluation is necessary to distribute finite resources, like salary increases or bonus dollars. Development is just as necessary so people grow and improve.

Salary and bonus expectations? Where in the world did he get the idea that I was here for a job interview? After subjecting myself to the vicious snake pit of Salomon Brothers, the last thing I wanted was to be a servant for a bunch of upper-class amateurs pretending to be businessmen and whose main expletive was the word quite.

He never received a salary He never received wages He never received benefits He never received a bonus Or attractive incentives But He gave FREELY His life A sacrifice of love For my sins For your sins He gave His blessed life For the sins of the world O what a cost to pay For a wretch Like you and me

The fear came from the loss of income and the sudden detour in her career. As a third-year associate, she was earning $180,000 a year in base salary, plus a nice bonus. A lot of money, but life in the city had a way of devouring it. Half evaporated in taxes. She had a savings account, one she halfheartedly acknowledged. When you’re twenty-nine, single, and free in the city, in a profession where next year’s package will exceed this year’s salary plus bonus, why worry too much about saving money? She had a friend from Columbia Law who’d been at S&P for five years, had just made junior partner, and would earn about half a million this year. Samantha had been on that track.

Consider James D. Sinegal, co-founder and CEO of Costco, a warehouse retailer. His salary in 2003 was $350,000, which is just about ten times what is earned by his top hourly employees and roughly double that of a typical Costco store manager. Costco also pays 92.5% of employee health-care costs. Sinegal could take a lot more goodies for himself, but has refused a bonus in profitable years because “we didn’t meet the standards that we had set for ourselves,” and he has sold only a modest percentage of his stock over the years. Even Costco’s compensation committee acknowledges that he is underpaid. Sinegal believes that by taking care of his people and staying close to them, they will provide better customer service, Costco will be more profitable, and everyone (including shareholders like himself) will win. Sinegal takes other steps to reduce the “power distance” between himself and other employees. He visits hundreds of Costco stores a year, constantly mixing with the employees as they work and asking questions about how he can make things better for them and Costco customers. Despite continuing skepticism from analysts about wasting money on labor costs, Costco’s earnings, profits, and stock price continue to rise. Treating employees fairly also helps the bottom line in other ways, as Costco’s “shrinkage rate” (theft by employees and customers) is only two-tenths of 1%; other retail chains suffer ten to fifteen times the amount. Sinegal just sees all this as good business because, when you are a CEO, “everybody is watching you every minute anyway. If they think the message you’re sending is phony, they are going to say, ‘Who does he think he is?

He therefore determined to hire a hatchet man to do the nasty work for him, bringing in a former McKinsey operative and giving him the title of Chief Operating Officer. This COO was himself quite expensive, his salary, bonus, long-term compensation, and perquisites amounting to the cost of several hundred smaller jobs. He at once targeted Law, Accounting, Public Relations, Event Planning, Office Services, and several other formerly integrated departments for extreme unction, although he did spare the executive chef. “This place is way fat,” he told the CEO, who knew he was full of shit but admired the zeal with which he justified his compensation.

The only private partnership I can talk about authoritatively is the one in which I was a partner from 1992 to 1999, when the firm went public: Goldman Sachs. Partners there owned the equity of the firm. When elected a partner, you were required to make a cash investment into the firm that was large enough to be material to your net worth. Each partner had a percentage ownership of the earnings every year, but the earnings would remain in the firm. A partner’s annual cash compensation amounted only to a small salary and a modest cash return on his or her capital account. A partner was not allowed to withdraw any capital from the firm until retirement, at which time typically 75%–80% of one’s net worth was still in the firm. Even then, a retired (“limited”) partner could only withdraw his or her capital over a three-year period. Finally, and perhaps most importantly, all partners had personal liability for the exposure of the firm, right down to their homes and cars. The focus on risk was intense, and wealth creation was more like a career bonus rather than a series of annual bonuses.

The really staggering production costs at the major studios were not the salaries of the artists, but the Croesus-like bonuses handed out to executives at the end of each year. In the thirties an unbelievable 20–25 per cent of the net earnings of the majors went to remunerate a tiny handful of production chiefs, studio owners and New York executives.

I have a friend with an incredibly demanding job that he doesn't particularly enjoy. But he puts up with it because he makes a lot of money, much more than he could make working for another company of doing something else. He has high blood pressure. His children get older every year. He complains about the stresses of his life and asks for my advice. Quit your job, I tell him. Earn less money. Spend more time with your wife and kids. Be happier. I can’t, he says. I have all these big deals in the works. Let me win those contracts, bag those bonuses. Next year I'll quit and slow down. But when next year comes along, he tells me about the new deals and the new bonuses. Next year is always a year away. Every year his salary grows. Every few years he moves into a bigger house and gets a new car. Is he happier? Evidently not. Despite the larger salary and the bigger house and the nicer car, he's not content. “Just one more year”, he says, “then I’ll have enough

Purdue paid its reps better than most drug-makers paid theirs—by 2001, an average salary of $55,000 and an average bonus of $71,500. Purdue spent a half-billion dollars on the one-on-one sales strategy between 1996 and 2001.

Not much has been written, and I hope never will be, about agents who devote the best years of their lives to spying for us, take their salaries and bonuses and golden handshakes, and without fuss, without being exposed or defecting, retire to a peaceful life in the country they have loyally betrayed, or some equally benign environment.

Five months later, Goldman launched Project Maximus, buying another $1.75 billion in bonds to finance 1MDB’s acquisition of power plants from the Malaysian casino-and-plantations conglomerate Genting Group. Again, the fund paid a high price, and, like Tanjong, Genting made payments to a Najib-linked charity. This time, $790.3 million disappeared into the look-alike Aabar. David Ryan, president of Goldman’s Asia operations, argued to lower the fee on the second bond, given how easy it had been to sell the first round. But he was overruled by senior executives, including Gary Cohn. While Goldman was working on the deal, Ryan was effectively sidelined; the bank brought in a veteran banker, Mark Schwartz, a proponent of the 1MDB business, as chairman in Asia, a post senior to Ryan’s. Goldman earned a little less than the first deal, making $114 million—still an enormous windfall. For bringing in the business, Leissner was paid a salary and bonuses in 2012 of more than $10 million, making him one of the bank’s top-remunerated employees. But that was just the tip of the iceberg. Unknown to his bosses at Goldman, and three months after the first bond, millions of dollars began to flow into a British Virgin Islands shell company controlled by Leissner, some of which he shared with Roger Ng, according to Department of Justice filings. Millions of dollars more moved through Leissner’s shell company to pay bribes to 1MDB officials. Over the next two years, more than $200 million in 1MDB money, raised by Goldman, would flow through accounts controlled by Leissner and his relatives. He could have taken his hefty Goldman salary and disavowed knowledge of the bribery carried out by Low and others. Perhaps he would have gotten away with it, as many Wall Street bankers do in countries far from headquarters. But he decided to take a risk by becoming a direct accomplice in the fraud, rather than just greasing its wheels. He had seen the kind of life Low was leading, and he must have thought that a mere $10 million wasn’t going to cut it, not if he wanted to buy super yachts and host parties himself. Soon he would be doing just that.

Just as a parent can’t buy the love of their children with gifts, a company can’t buy the loyalty of their employees with salaries and bonuses. What produces loyalty, that irrational willingness to commit to the organization even when offered more money elsewhere, is the feeling that the leaders of the company would be willing, when it matters, to sacrifice their time and energy to help us. We will judge a boss who spends time after hours to help us as more valuable than a boss who simply gives us a bonus when we hit a target.

Along with the promise to not institute layoffs, Pope also went on record as saying there would be no salary increases or year-end bonuses until the company got out of the woods. “I told everyone that we had to cut everything that could be cut without sacrificing the quality of our product. People want to know what the goal is and have it communicated in a very simple way. Communicate the mission honestly, fairly, and compassionately, get everyone on the same page, and people will do the right thing.” Pope says he didn’t receive one single complaint about the freeze on compensation.

New hires are given an industry-average base salary, a signing bonus spread over two years, and a grant of restricted stock units over four years. But unlike other technology companies, such as Google and Microsoft, which spread out their stock grants evenly, Amazon backloads the grant toward the end of the four-year period. Employees typically get 5 percent of their shares at the end of their first year, 15 percent their second year, and then 20 percent every six months over the final two years. Ensuing grants vest over two years and are also backloaded, to ensure that employees keep working hard and are never inclined to coast.

Amazon simply prefers to reward employees with RSUs (restricted stock units) rather than salary or cash bonuses. Jeff explains his logic in the 1997 shareholder letter: “We know our success will be largely affected by our ability to attract and retain a motivated employee base, each of whom must think like, and therefore must actually be, an owner.”32 Jeff incentivized us by letting us share in the rewards of company growth. In so doing, he got us constantly thinking about the long term.

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