Friday, January 09, 2009

July 4, Christmas and New Year's All Wrapped in One

Hey, what's the best day of the year? Christmas is good, and my birthday totally rules:-P. And Thanksgiving is my favorite Holiday... All strong contenders, but none of them comes close to the true Greatest Day of the Year.

And what day is that? Why...Bonus Day, of course:-).

I work in an industry where people collect a very large portion of their total compensation in the form of an annual bonus based on their prior year's performance and that of the firm. For the real muckety-mucks (like Boss Foxy and Papa Bear), as much as 80% of their total compensation can be in the form of one or more bonuses.

For me, it is not nearly that dramatic...most of my compensation is just my regular salary. I also get bonuses when we close deals, and this annual bonus, but that makes up a smaller portion of my total pay than it does for the other people. Still, it is a very healthy chunk of cash, and I look forward to it greatly:-).

Last year I got about a third of my salary for my bonus, and I was ecstatic. I doubt it will be nearly that much this year...we didn't suffer like some other firms did, but it was still not a real good year by any absolute measure. So I guess we will have to see, my meeting is this morning... wish me luck! I am never going to complain about someone giving me a fat check, that's for sure:-)

As I have outlined here in the past, I would love to buy the condo we currently live in. Smoking Hot Roommate is the current owner (should I call her Smoking Hot Landlord instead?), and would no doubt allow me to continue living there at the much-discounted rent that I currently pay her. She has also said she would sell it to me for much less than it is really worth...but to be honest, I don't really want to do that. She and her family have been extraordinarily generous to me, but at some point I would like to stand on my own two feet for real.

And, since I love our apartment and very much intend to live there...um...forever...I would like to buy it from her like a big girl. That means paying her a fair price for it, and that means saving a lot of money to do so:-P. I earn a pretty good income, and The Boy makes quite a bit more than I do, so we are in a pretty good position financially. I have also been a very diligent saver, so I actually have a pretty good chunk saved for a down payment. Combine that with money he has saved (and got from selling his old condo) and I think we will probably be able to do that later this year, after the wedding.

This bonus is part of that larger initiative...so I hope its big for that reason! Also, just because a big bonus is better than a small one:-D

Not a whole lot going on this weekend. Spa tomorrow, which will be heavenly:-). I have a date with The Boy tomorrow night, which will be equally heavenly! Other than that, not a whole lot on tap...hope everyone has a good weekend!

[Update: Very nice bonus:-) Smaller than last year, but at least as big as I expected, and a really nice payout. Makes for a nice weekend starter!]

8 comments:

Amy said...

ooooh good luck with the bonus! Yes, a big fat check is always nice! Happy Friday!

A said...

Oh my gosh - Bonus Day would be so fun! Am envious. Have a great weekend!

Jamie said...

I can't imagine many things that would make me happier in this very day than a big fat bonus! Good for you, girl!

Lpeg said...

Just getting a bonus would be nice. Or the day before or after Christmas. Either way.

Nothing this year (well, you can count 1/2 day on Jan 2, I suppose...

Anyways, sounds great! I hope you get a big fat check and have a great weekend!

Rachel said...

Good luck with the bonus! Hope you're pleasantly surprised! :)

A. said...

Happy Friday/Bonus Day!

I'm glad you are happy with it!

KT said...

congrats on the bonus. i think all your future goals are awesome. best of luck!

laurwilk said...

Ha, you are such a lucky little biotch! :)