Quinnox Blog

Move now and forgo your bonus!

3 Reasons to Move Now and Forego That Year End Bonus

1. Beat competition

The logic is simple: your chances of securing that dream job will be higher when competition is less keen.  If most people look for a job in the first quarter of the year, you will need to compete with more qualified candidates for the same job opening.   Beat competition – look out for your ideal job in the last quarter of the year.

2. Companies are hiring for 2013 now!

Counting backwards, companies may require between 1-3 months finding the right candidate and the candidate will then need to serve 1-2 months notice.  During the 4th quarter, many companies start to hire for strategic positions.  The main reason could be to prepare the incumbents to be ready to start in the beginning of the New Year.  Such positions are usually Sales, Business Development, Strategic Planning, Business Processes and/or other functional and managerial roles. 

3. No time is a good time

We talk to many candidates who expect bonuses at the year end and some even counted the “would be” bonus amount into their annual package.  While this is not wrong, it is presumptuous to think that a big bonus will be waiting for you – every year.    Thus, no time is a good time.  Your next job may give you a higher monthly basic that will soon break-even with the bonus that you forego.

How much will you pay me?

“How much will you pay me?”

In any job interviews, this question is on the top of every interviewee’s mind.  How and when you bring up the issue of salary is critical.  If you ask this question openly, and before the interviewer can get to know your skills and strength, it will most likely jeopardise your chance of getting hired. 

The rule of the thumb is, let the interviewer bring up this question and never initiate it.  Even if you so desperately want to know if the company can meet your expectation or if the compensation is worthwhile enough for you to sit through the interview – don’t.  Interviewers are often put off by candidates who ask about salary first. 

At the present market, the general guideline for a salary hike would be between 10-20% of the previous salary package.  For those with skills and experience that are much sought-after, a 25-30% increase may be possible.  If you think that you are underpaid in your current job and would like to be brought closer to the market value, getting advice and assistance from your Recruitment Consultant may be the best approach!