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09 Aug 2020, 21:30
Kudos
Bookmarks
Hi everyone,
In the employment/professional section of the applications you are asked to report your compensation for each role, but I am unsure how to record target cash bonuses and vesting equity. I want to be accurate, but also don't want to under-sell positions because my understanding was that asking for compensation is another way for them to understand the importance and value of work.
1). "Annual Bonus": should this only included actual paid cash bonuses or can you also include target cash bonuses which are listed in your offer letter in cases when you left the company early or are new?
A. For a previous employer, which I left before my 1 year bonus was paid, can I include the target amount in my offer letter as my "annual bonus" or should I put $0 if nothing was actually paid because I left early? Putting $0 would feel like underselling the position as it was a matter of timing and not the value of the role
B. For a current employer, where I have been <1 year, can I include the target amount in my offer letter as my "annual bonus" or should I put $0 since nothing has been paid yet? Again, putting $0 would feel like underselling the position as it is a matter of timing
2). Stock Compensation: I work for a public company and a significant part of my compensation is RSUs which vest after a 1-year cliff (I have not hit this yet). Should I include my stock compensation as listed in my offer letter as "Annual Compensation/Base" or "Annual Bonus" or not at all since it hasn't fully vested yet? I honestly believe that my equity is more like base than bonus since the company is public and my equity is not discretionary...it becomes mine if I stay with the company...just like a base salary. Once again, putting $0 would feel a bit ridiculous since equity is a big part of my compensation and this is a matter of timing
3). Signing Bonuses: should you include 1-time signing bonuses as annual bonus? Since these are non-recurring, I would think not but depending on the answers above (i.e. if bonus should only be actual paid) I would highly consider including my signing bonuses instead which are nearly the same amount as my target 1-year bonuses
Really appreciate insight into whether there is a rule of thumb here. Alternatively, I could include everything and then just footnote the numbers in "Additional Information" to cover myself in the event of a background check...
In the employment/professional section of the applications you are asked to report your compensation for each role, but I am unsure how to record target cash bonuses and vesting equity. I want to be accurate, but also don't want to under-sell positions because my understanding was that asking for compensation is another way for them to understand the importance and value of work.
1). "Annual Bonus": should this only included actual paid cash bonuses or can you also include target cash bonuses which are listed in your offer letter in cases when you left the company early or are new?
A. For a previous employer, which I left before my 1 year bonus was paid, can I include the target amount in my offer letter as my "annual bonus" or should I put $0 if nothing was actually paid because I left early? Putting $0 would feel like underselling the position as it was a matter of timing and not the value of the role
B. For a current employer, where I have been <1 year, can I include the target amount in my offer letter as my "annual bonus" or should I put $0 since nothing has been paid yet? Again, putting $0 would feel like underselling the position as it is a matter of timing
2). Stock Compensation: I work for a public company and a significant part of my compensation is RSUs which vest after a 1-year cliff (I have not hit this yet). Should I include my stock compensation as listed in my offer letter as "Annual Compensation/Base" or "Annual Bonus" or not at all since it hasn't fully vested yet? I honestly believe that my equity is more like base than bonus since the company is public and my equity is not discretionary...it becomes mine if I stay with the company...just like a base salary. Once again, putting $0 would feel a bit ridiculous since equity is a big part of my compensation and this is a matter of timing
3). Signing Bonuses: should you include 1-time signing bonuses as annual bonus? Since these are non-recurring, I would think not but depending on the answers above (i.e. if bonus should only be actual paid) I would highly consider including my signing bonuses instead which are nearly the same amount as my target 1-year bonuses
Really appreciate insight into whether there is a rule of thumb here. Alternatively, I could include everything and then just footnote the numbers in "Additional Information" to cover myself in the event of a background check...
xprometheusx
10 Aug 2020, 12:29
Kudos
Bookmarks
To answer you questions, imo
1) Unfortunately you earned nothing and should report it as such. Target are just targets. How does the school know you would even have hit the targets?. Schools will verify income and bonus information if/when you get accepted.
2) I can't speak to this, as I had no RSU's of which to speak of. Hopefully someone else can chime in.
3) Yes, you can put this in here. No need to overthink it. You got paid this, it is a bonus.
Hope this helps.
1) Unfortunately you earned nothing and should report it as such. Target are just targets. How does the school know you would even have hit the targets?. Schools will verify income and bonus information if/when you get accepted.
2) I can't speak to this, as I had no RSU's of which to speak of. Hopefully someone else can chime in.
3) Yes, you can put this in here. No need to overthink it. You got paid this, it is a bonus.
Hope this helps.
