Update your manager?

Thanks Saurabh- thats sort of my thought process. Since it is only a couple of weeks more, I am leaning towards putting it on hold. Frankly, dont think the bonus is going to be significant enough anyways as my company is probably the biggest hit in the whole financial crisis anyways (and you know which one that is:))

Thanks Praet- that was definitely helpful. I do plan to give my manager enough heads up and while I am excited to tell him about my admit, feel it might just impact some $'s. My question is probably more 'bonus' centric. Was curious to hear peoples thoughts on the impact of informing your manager before your bonus.

If you manager considers you good enough, then he would have assumed that you'll get an admit in at least one school. So, I don't think he is making his bonus plans or his future plans around you anyway. Moreover, he has done his best to get you admitted (Through solid recos). In that case, lying to him about your admit is just plain wrong. Sorry, just my opinion.

Thanks for the great reply mneo. I agree with your reply but am sort of caught in a tough spot to some extent. Thats exactly why I wanted to get people's opinions. Well, I know it does not matter, but my manager did not write reco's for me. I also agree with the part that he would have already factored in me leaving soon anyways.

I called my manager 10 mins after my admit call. He not only wrote great reccos, but took personal interest in my success. I felt I owed him an immediate update. That and a bottle of 50-yr old scotch

dosa,

I think that the bonus pool at our company has already been determined. That being said, your manager might shift the $$ amounts between his/her direct reports. Theoretically, your bonus is based on your last year performance but we all know that that's only theoretical, and some managers would rather give more money to someone who will be there to stay than someone who is going to take the money and leave.
However, since your manager knew about your intention to go to b-school in 2008, he/she already probably factored that fact into your bonus anyway, and is expecting you to get accepted somewhere.
Hence, if I were you, I would be honest about your Michigan admit.
Just my 2 cents

well, I was going to tell my boss about my admit next week (to UCLA). And discuss when I will probably quit (hopefully by end of March). I want to quit earlier, but I think we need to hire someone that I can train for a month or so before I quit, so as to not burn any bridges.

I'll tell my boss this week. He is back from paternity leave. But i will stay in the company until the end of June. That way i will be eligible for the half yearly bonus.. Much needed finance , besides, rent in Tokyo is too expensive to be unemployed, my apartment (72 m² = 775.001 ft², so not particularly big) costs $3240 pcm at current exchange rates!!!