Module 2 · Chapter 4

Salary, Bonus and the Sign-On Payment

A senior hire gets a fixed salary and a bonus the employer decides. She may also get a one-off payment for the bonus she leaves behind, which she repays if she leaves early.

≈ 8 min read 8-question test

In this chapter

  • How the Contract fixes the salary, and what a yearly review promises
  • Why the bonus is discretionary, and when it is lost
  • When the sign-on payment must be repaid, and how Cressby takes it back

4.1Pay in one paragraph

The Contract pays Esme in three ways. She gets a fixed salary and a yearly bonus that Cressby decides. When she joins, she also gets a one-off sum for the bonus she gives up at her current employer. Each part has its own rules on when it is paid and when it is lost.

Key point

Only the salary is certain. The bonus depends on Cressby’s decision and on Esme still being there, and the one-off sum comes back if she resigns early.

Also in this chapter

  1. The salary and the yearly review
  2. A bonus that Cressby decides
  3. The sign-on payment and when it comes back
  4. Pension, medical cover and the whole package
  5. Your job

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