Was told by a recruiter that the fine print on the payback of the $57k bonus is kept close hold until indoc and the LOA is not publicly available. Would any new hires confirm if the the initial $5k is yours to keep and the other $36k is prorated? For example leave right after 12mo and would you keep $5k + 50% of $36k = $23k?
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Originally Posted by 53driver
(Post 2732317)
Was told be a recruiter that the fine print on the payback on the 57k bob is kept close hold until indoc. Would any new hires confirm if the the initial $5k is yours to keep and the other $36k is prorated? For example leave right after 12mo and would you keep $5k + 50% of $36k = $23k?
Disagree. Take it all, put it in savings, give it back if you leave. You never know what will happen to the bonus program. Better one check in the hand than 10 in the air or something.... |
Originally Posted by symbian simian
(Post 2732312)
Disagree. Take it all, put it in savings, give it back if you leave. You never know what will happen to the bonus program. Better one check in the hand than 10 in the air or something....
Not sure how'd that work for end of the year taxes, but can't imagine it would be easy. An added benefit of the deferral is that it will give you more money with regards to the company 401K match. Although, in year 2 you have to start paying ALPA fees, and that includes your bonus if I'm not mistaken... Also, if the bonus program did disappear, you would still get your money if you opted for a deferral. I wouldn't consider that when thinking about deferring or not. Different story if they went out of Business. |
I hate to disagree, below quote is not such good advice. Your bonus will be taxed at time of payment (tax rate minimum 22% in 2019) and you WILL be responsible for paying the entire PRETAX amount back.
The 5k will be yours to keep after passing IOE (that is the length of that contractual obligation). The 27K or whatever the exact amount is yours to keep in it’s entirety after 24 months). In Indoc, you have the opportunity to defer receiving the payments until earned (approximately 3K per month to be paid during each of months 13 through 24 and the 5K after finishing IOE). No mystery, nothing is hidden. Make your decision and sign the papers. It’s all very straight forward if you are paying attention, which is admittedly very difficult to catch everything in that whirlwind of week one. Oh, yes, the bonus is contractually obligated to be paid to you, it won’t disappear, regardless of what future new hires do or don’t get. PS take a picture of your paperwork for your records.
Originally Posted by symbian simian
(Post 2732312)
Disagree. Take it all, put it in savings, give it back if you leave. You never know what will happen to the bonus program. Better one check in the hand than 10 in the air or something....
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Originally Posted by 53driver
(Post 2732317)
Was told by a recruiter that the fine print on the payback of the $57k bonus is kept close hold until indoc and the LOA is not publicly available. Would any new hires confirm if the the initial $5k is yours to keep and the other $36k is prorated? For example leave right after 12mo and would you keep $5k + 50% of $36k = $23k?
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Flaps8posrate,
Thank you so much that helps clarify it! |
You file an amended W2. It's not difficult at all.
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Originally Posted by Varsity
(Post 2734001)
You file an amended W2. It's not difficult at all.
It’s not that straightforward and depends on when the bonus was received vs when you repay it. It also relies on the company to accept the post tax amount as repayment and pursue the taxes back from the government. When someone leaves they ask for the full pre-tax amount back (I’ve seen the repayment request) so hopefully you have a decent lawyer if you really want that money back. To me, not worth the $500 you might get in income throwing it in the market. |
Originally Posted by DarkSideMoon
(Post 2734047)
https://www.dickinsonlaw.com/blogs-a...f-compensation
It’s not that straightforward and depends on when the bonus was received vs when you repay it. It also relies on the company to accept the post tax amount as repayment and pursue the taxes back from the government. When someone leaves they ask for the full pre-tax amount back (I’ve seen the repayment request) so hopefully you have a decent lawyer if you really want that money back. To me, not worth the $500 you might get in income throwing it in the market. |
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