I got a bonus! And a raise!

January is off to a great start for me. I was pretty excited to get back to work after almost a two full weeks off. One of the most exciting things about going back to work was picking up my bonus check. I knew before Christmas that I was getting a bonus, but I wasn’t able to get into the office (thank you, flu-bug) and pick up the cheque. I nearly drove myself crazy over the Christmas break wondering how much my bonus would be.

Honestly, at first I was surprised to hear we were getting a bonus. Typically, the company gives all the employees a percentage of the total profits made that year, but last year a very untypical thing happened – the tornado. Thankfully, the company escaped the tornado unscathed and we actually ended up getting more work for our structural engineers because of it. Shortly after the tornado though, the company announced they were making a $100,000 donation to the disaster relief fund. When this was announced, I felt really proud to work for a company willing to give so much back to its community. Given that large donation though, I suspected that we might not get a Christmas bonus. I wasn’t really upset about that though, because I knew the donation was to a very worthy cause. After I decided that myself and the other employees weren’t going to get a bonus, I was pleasantly surprised when my boss emailed me to say my bonus check was waiting for me.

How much did I get? The initial amount was: $2,880.78, which when you take off the tax, leaves $1,733.33. Awesome!! I may have bounced up and down in my chair when I saw the amount. I put the entire amount in my emergency fund, which is only fun if you’re a personal finance blogger, I guess. It’s got me a fair bit closer to my goal of $10,000. I debated putting half in my EF and half into my RRSP, but decided that at the moment, I’d rather have a little more padding in my EF, just in case.

This week I had my yearly review at work as well. My yearly review consists of a sit down with my supervisor and the president of the company. The atmosphere of the meetings is usually pretty relaxed, but I still got a few butterflies in my stomach when the boss-men called me into the boardroom. Everything went really well though, I had no reason to be nervous. They’re really happy with my work and see lots of room for me move up in the company in the future. They were also happy to receive letters of recognition from the organizations I volunteer with. If you volunteer, I highly recommend that you ask a coordinator to send your boss a letter of recognition of your volunteer work. I came out of the review with a 10% raise in my salary, which blew me away. I was hoping for 7%, so I almost skipped out of the boardroom. The increase in pay means an extra $16.90 in my RRSP every two weeks. At first glance, it may not seem like much, but it’s an extra $439.40/year. That’s pretty cool. I’m also hoping to be able to save a little more per month for my house maintenance fund, RRSP and EF.

Aaah, if the year keeps up like this, I’ll be one happy cowgirl. Do you have yearly reviews at your work? How do you feel about your latest review?

Have a good ‘un

Country Girl

Categories: Review, Work | Tags: , , , | 17 Comments

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17 thoughts on “I got a bonus! And a raise!

  1. Congratulations on your bonus and raise. What a great way to start the year….my yearly review isn’t until March.

  2. Yay! Congrats!

    I get a raise at the beginning of the year but I also get a yearly review based on merit. I’m not sure how it works this year as I got a new boss & he doesn’t really know me yet though.

  3. That is so great! Congrats! $16+ every two weeks added to your RRSP is not bad at all, since that’s about what I put into my RRSP base (but I just opened it).

    What a great way to start the year.

  4. Congratulations, I’m so pleased for you 🙂

  5. Cait

    I’m so excited/jealous that you were able to put that chunk of cash in your EF! Good for you. And congrats on the raise 🙂

  6. a 10% raise! that’s fantastic!

  7. I was so happy when I read this! Sorry, I haven’t gotten a chance to comment until now!

    10% is amazing and that’s a really nice bonus to boot!! Congratulations! 🙂

    I’ve got my performance review coming up in next week and my salary review in April.

  8. Pingback: My Job Analysis « Cents of a Country Girl

  9. Great job!

    Previously I was union, so raises were automatic. I was meant to have a review, but for some reason got overlooked (I think because I went from part time to full time).

    At my new job, I’ve only been here six months…not too sure what their review policies are.

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