Bonus Time

I finally found out the amount of my annual bonus and I have to admit that I'm somewhat dissapointed. I've worked my tail off in 2005, basically doing the job of 2 people and it's much less than I expected. Let me explain.. My bonus is essentially 15% of my annual salary. 50% is dependent on company revenue/performance, and the other 50% on personal performance. Well, my company did "OK" last year, but we didn't achieve our sales target, so we only got 40% of the maximum company target. I met all of my goals and then some, so I could tell my VP was embarrassed to tell me that no one in the company got 100% of their personal target due to our company's cash flow. Basically the company average was 65% attainment of their personal target, and I got 80%. My VP told me that the CEO wanted me to know that only 3 people in the entire company got 80% and that I am regarded highly as a "star performer".

I will say that I am flattered and that I truly regard bonuses as just that -- a bonus. I don't factor it into my financial planning or budgeting, but damn it, I EARNED my personal performance amount! All those nights/weekends, travel for the company, I feel like I was jipped! Well, I am thankful that I am in a job I love (even though it's not in fashion), and a growing company that has lots of potential.

As to what to do with the money, I'm going to save it. I have one of those high yield savings account with 4.80% APY and I'm going to stash it in there. Yes, I'm going to be good and not spend it on a new bag or clothes. :)