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06 Dec 2014, 15:26
Kudos
Bookmarks
In my current and past roles, I have had a set base salary, and on top of that earn monthly performance-based commissions which make up a significant portion of my earnings. I don't think this is strictly speaking a bonus, and it's not base salary either. Most of the BSchool applications seem to provide fields for base and bonus, but nothing else. I guess commissions are closer to bonus, so should I include commissions as part of my bonus?
Also, I know my current base salary, commissions and bonuses, and can verify all that info with my company to make sure it's accurate. I don't remember my starting salary and base, but can most likely get that info from HR (although I've been here 5 years, so maybe they won't still have those records?). But before that I worked for a different company 6 years ago. I have my tax returns, but I don't remember what the breakdown between base, commissions and bonus was starting and ending. Should I just estimate this?
I'm really not sure how to fill out this part of the applications, and I've heard that if admitted this is all subject to verification. Any advice would be appreciated!
Also, I know my current base salary, commissions and bonuses, and can verify all that info with my company to make sure it's accurate. I don't remember my starting salary and base, but can most likely get that info from HR (although I've been here 5 years, so maybe they won't still have those records?). But before that I worked for a different company 6 years ago. I have my tax returns, but I don't remember what the breakdown between base, commissions and bonus was starting and ending. Should I just estimate this?
I'm really not sure how to fill out this part of the applications, and I've heard that if admitted this is all subject to verification. Any advice would be appreciated!
06 Dec 2014, 21:58
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Juliostar
Commissions are not considered bonus. They are considered wages, thus should be calculated under your normal salary. The difference between commission and bonus is that once your commission is earned, it's yours. (i.e. you do x, you are entitled to receive y.) Bonuses are not earned and are discretionary. (i.e. you do a, and you may or may not get b, depending on your performance overall, the company performance, or whatever other factor goes into the bonus.)
As for your breakdowns, you can estimate. They will verify, but as long as you're in the ballpark, you don't need it to the penny.
