Poll: Job loss/salary cut due to economy?

[gsugsu]

Still have my primary job + consulting side business has increased although my industry is not directly tied to the market meltdown.

 

[edmorel]

No raise or bonus and the bonus typically consisted of 50-100% of total compensation. Yea!!!

 

[gdl203]

Originally Posted by edmorel

No raise or bonus and the bonus typically consisted of 50-100% of total compensation. Yea!!!

wow - that sucks. Zero bonus?

 

[randallr]

Originally Posted by edmorel

No raise or bonus and the bonus typically consisted of 50-100% of total compensation. Yea!!!

When you say 100% of total compensation do you mean no raise= no pay? Or just that your bonus was usually about the size of your actual wage? My uncle is a fund manager at Fidelity and I think his bonus is usually like 300x his actual wage.

 

[brandall10]

The product line I manage was cut, and technically speaking, it was allotted 8 weeks to be wrapped up, after which if I do not find placement internally I am out of a job. But there are a couple other positions that are potential transfer opportunities, one I'm temporarily working on and another I interviewed for last week (which would be a promotion). All this said I've been working at my company for 8 years now, doing software dev for health care.

 

[TheFoo]

Bonuses cut in half. Salaries frozen, at least for the next year.

 

[edmorel]

Originally Posted by gdl203

wow - that sucks. Zero bonus?

yep

Originally Posted by randallr

When you say 100% of total compensation do you mean no raise= no pay? Or just that your bonus was usually about the size of your actual wage? My uncle is a fund manager at Fidelity and I think his bonus is usually like 300x his actual wage.

bonus was size of wage. I assume you mean you uncle gets 3x his wage, not 300x.

 

[kwilkinson]

Originally Posted by edmorel

yep
Is that why you won't come visit me?

 

[Ataturk]

I'm doing more work for the same pay. I guess that means I've taken a pay cut.

 

[randallr]

Originally Posted by edmorel

yep



bonus was size of wage. I assume you mean you uncle gets 3x his wage, not 300x.

No I think his actual wage is like 300k and his bonus is like 5-10million; I was exaggerating about 300x but it's definitely more than three.

 

[Hombre Secreto]

I got some hours cut. The Restaurant industry is getting it's ass kicked!

 

[edmorel]

Originally Posted by randallr

No I think his actual wage is like 300k and his bonus is like 5-10million; I was exaggerating about 300x but it's definitely more than three.

That's not a typical pay structure at a mutual fund company. Your uncle has either brought in a ton of dough and runs one the biggest funds there or has ridiculous long term performance.

 

[Stazy]

Originally Posted by blackdarkeye

the best place to be during this time is the alternative energy business

You don't think falling oil prices have pushed alternative energy to the fringes? I mean, with traditional energy being so cheap right now, I don't think alternative energy can compete.

 

[minus]

Originally Posted by mafoofan

Bonuses cut in half. Salaries frozen, at least for the next year.

Same here. Our bonus wasn't effected -- for this year anyway, but everyone's wages were frozen. Got a promotion in September, and then had my wage frozen without receiving a raise.

 

[edmorel]

Originally Posted by Stazy

You don't think falling oil prices have pushed alternative energy to the fringes? I mean, with traditional energy being so cheap right now, I don't think alternative energy can compete.

Therein lies the problem, we don't make investments when oil is cheap because alternative is too expensive and then when oil shoots up, as it will eventually, people ***** as to why there are no alternative energy sources.