The most anticipated time in your work year - performance bonus, promotion and increment

Every month, I look forward to pay-day.

But my most anticipated moment of the (work) year is my PB.

Wish I could click enter many times
This is the time of the year where I eagerly await my report card. This is also the time when people feel excitement, happiness, anger, betrayal or disappointment on how they are assessed for their work over the past year.

I've been in my first job since graduation and had received 4 performance gradings. So far, I thank lady luck for blessing me with above average gradings. At least, despite the frustrations felt at work, I am encouraged that my contributions are acknowledged.

This time each year, I'd feel my heart palpitating as I open the document announcing my performance grading. I remembered having the same feeling as I logged onto my university portal to see my semester results. That's why I akin this to my report card.

The thing is, I would never know how I'm assessed each year. It's quite a joke that I've never done proper appraisals with my bosses except during my first year as a contract officer. Nobody sat me down to tell me what I've did right, what I've did not so right, and how I could improve. I could only guess that my performance wouldn't be too bad judging from my interactions with my bosses and how they assigned me duties.

Anyway, I'm grateful for my above average gradings since it translated to higher monetary rewards compared to most peers. The PB also adds to a higher annual income. Just last year, with an excellent performance grading, my bonuses added up to a 37.5% of my annual income!

Hopefully this will add to my next goal of another $100k cash savings by 28!

Moving on to another note, I've been eagerly awaiting for my promotion since I've been getting consistently good results. However, I've been bypassed for promotion this year. Seeing the names of some officers being promoted didn't sit too well with me, since some of them are just wayang kings and queens. But then again, promotion, as with performance bonuses, are all subjected to your bosses' instructions. I feel that my bosses may think I'm too young for promotion. I wonder if I should speak to them....

Ok, good thoughts good thoughts. It's the last day of March, and I'll be getting a higher pay in Apr! Yay!

$$$ drives me to work, but don't worry, I won't do stupid things for the pure sake of earning money :P

Comments

  1. Oh well. Promotions are all dependent on bosses. That's life

    ReplyDelete
  2. Congratulations! Sucks to read that you were passed over for promotion, but I feel you should definitely speak to them and let them know what you've been doing. I don't know if your bosses promote based on seniority, but 'by right,' it should be more about your performance than your age! I was promoted recently, and I am the youngest person in my department, so don't give up hope!

    Hope things work out for you!

    ReplyDelete
    Replies
    1. Thanks Creed! Congrats to you as well! I'll try to speak to my boss, but I'm scared it will backfire. It doesn't make sense that I'm already doing higher level job, but have to wait just because I'm young.

      Delete
    2. All the best! Just tell them what you've mentioned here and say you understand the period for promotion applications have long ended. However, in light of what you've been doing, the hours you've put in, etc, you would like to know if there is a possibility for you to get promoted during the next cycle.

      Have you been regularly updating/telling your boss about the work you've done/the hours you've been putting in?

      Delete
  3. Congrats on the performance bonus and higher pay! I have heard that more people did not get anything at all this year compared to last year. You must have done well to achieve that. Anyway, it doesn't hurt to ask for that promotion if you feel you are capable enough to take on that higher level role. Good luck!

    ReplyDelete
    Replies
    1. Thank you! I'm grateful for that as well. I'll probably approach my boss to ask. Actually, I'm already doing a higher level work as my peers of a senior grade since 2 years ago. The promotion guidelines here are really weird.

      Delete

Post a Comment

No rude messages please. Unkind messages and spams will be blocked and deleted.

Popular posts from this blog

Hello BOC Smartsaver

My tips on how I accumulated $100k before 28

Goal Met: Saving $100k at 25