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ahaahaaha
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Compensation understated in the application form 21 Oct 2024, 02:44
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Hi all,

I applied for round 1 in some schools. However, I figured out I have understated my bonus for a job 8 years ago. (Honestly, I lost the docs and filled the numbers based on my memory and the best estimation). Now I track my bank account and figure out that there is a possibility that I have understated the bonus amount by 200 US Dollar - 9% lower. I think it great that I didn't overstate it. But the % understate make me worried. Do you think I need to concern about this one?

In addition, is it a common practice to use different FX to convert salary bonus in different years? Like use 1 USD = 3 ABC in year 1 then 1 USD = 3.5 ABC in year 2?
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Compensation understated in the application form 21 Oct 2024, 06:20
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ahaahaaha
Hi all,

I applied for round 1 in some schools. However, I figured out I have understated my bonus for a job 8 years ago. (Honestly, I lost the docs and filled the numbers based on my memory and the best estimation). Now I track my bank account and figure out that there is a possibility that I have understated the bonus amount by 200 US Dollar - 9% lower. I think it great that I didn't overstate it. But the % understate make me worried. Do you think I need to concern about this one?

In addition, is it a common practice to use different FX to convert salary bonus in different years? Like use 1 USD = 3 ABC in year 1 then 1 USD = 3.5 ABC in year 2?
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Hello ahaahaaha,

Hope this finds you well.

Please do not worry about understating your bonus. It is alright (as your rightly mentioned - at least you did not overstate it).

Generally, when it comes to conversions, one may consider either the rate prevalent at that point of time or the current rate. Frankly, it will not matter so much.

All the best!
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ahaahaaha
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Compensation understated in the application form 22 Oct 2024, 00:59
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Thanks ExpertsGlobal. Yeah, I am just afraid when Revera check my salary in local currency and convert by recent FX, they will see my salary in USD being overstated. While actually I use two different FX for two different periods. lol! my local currency has depreciated significantly over the period. Nearly 10% down compare to the USD
ExpertsGlobal
ahaahaaha
Hi all,

I applied for round 1 in some schools. However, I figured out I have understated my bonus for a job 8 years ago. (Honestly, I lost the docs and filled the numbers based on my memory and the best estimation). Now I track my bank account and figure out that there is a possibility that I have understated the bonus amount by 200 US Dollar - 9% lower. I think it great that I didn't overstate it. But the % understate make me worried. Do you think I need to concern about this one?

In addition, is it a common practice to use different FX to convert salary bonus in different years? Like use 1 USD = 3 ABC in year 1 then 1 USD = 3.5 ABC in year 2?

Hello ahaahaaha,

Hope this finds you well.

Please do not worry about understating your bonus. It is alright (as your rightly mentioned - at least you did not overstate it).

Generally, when it comes to conversions, one may consider either the rate prevalent at that point of time or the current rate. Frankly, it will not matter so much.

All the best!
Show more