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Patrick, Esq.
Patrick, Esq., Lawyer
Category: Employment Law
Satisfied Customers: 12493
Experience:  Significant experience in all areas of employment law.
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I have a chance to received a retention bonus with my

Customer Question

I have a chance to received a retention bonus with my employe (an Aerospace company). At first they wanted to stay 30 to 60 days and the rention bonus ws TBD; director came back today and sked if i would be willing tp stay 3 months at 5K or 6 months for 10K. My salary is about 53K. What do you think?
Submitted: 1 year ago.
Category: Employment Law
Expert:  Patrick, Esq. replied 1 year ago.

Hello and thank you for entrusting me to assist you. My name is ***** ***** I will do everything I can to answer your question.

Just to be clear, is this amount in ADDITION to your regular salary, and the requirement to earn it is simply that you stay on for the agreed upon period? Do you have any job offers elsewhere yet? When would your last day of employment be if you don't accept the retention offer? I very much look forward to helping you on this matter.

Customer: replied 1 year ago.
Sorry, I left some information out. I have given my notice to retire as of 7/28/16. My manager quit last week and I'm the senior person, hence why they have asked me to stay. Yes, this is inaddtion to my regular salary. Yes, the only requirement is that I say on during the specified period. I'm retiring, I do not have any job offers pending. My last day of employment is to be determined if I stay 2 months, 3 months or 6 months. Though I'm almost certtain it will not be 6 months. I have pretty much ruled that out.
Expert:  Patrick, Esq. replied 1 year ago.

Thank you.

With their existing offer, they are essentially boosting your pay by 20%. That is significant. Your proposal would boost your pay by almost 50%. Realistically, that is probably a bit high, but would not seem out of bounds as a counter offer. Chances are if they are willing to pay you a retention bonus that the amount is negotiable. If it were me, I would shoot for something roughly in between your initial expectation and what your employer has offered, such as $7,500 for 3 months with an initial counter offer of $22,000 for 3 months. That is, of course, unless you want to extend your employment out longer.

I hope that you find this information helpful. Please do not hesitate to let me know if you have any questions or concerns regarding the above and I will be more than happy to assist you further.

Expert:  Patrick, Esq. replied 1 year ago.

Was there anything else I can do for you? If I have answered your question, I would be very grateful for a positive rating of my service so that I may receive credit for assisting you.

Very best wishes.

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