Houston Company Gives Every Employee $100,000 Christmas Bonus

[Baz]

That's right, all 1,380 employees at Hilcorp, "one the largest privately held oil and natural gas exploration and production companies in the United States," according to KTVU, received the large sum as a thank you for a job well done.

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[Dantilla]

Hilcorp is an excellent company.

[onewhippedpuppy]

Hopefully they enjoy their $60,000 after taxes. Sorry, I'm a bit bitter about the government's stealing a good portion of my bonus today.....

That's a fantastic gesture, imagine what it does for employee morale, productivity, and loyalty? Nice contrast to the much more prevalent attitude of treating employees like they are disposable.

[Dantilla]

One of the brightest college students I know is interning for Hilcorp, and they're grooming him for as great career. He speaks of the company in absolutely glowing terms.

Fascinating guy in a conversation. Very intelligent, but even though he's an engineering major, has a great personality. Who woulda thunk that?

[aschen]

A hot topic in the office yesterday, since oil in general isn't doing so great


I joked that the HR dept deserves the bonus the most since they will be waste deep applications for the forseeable future

[aschen]

Originally Posted by onewhippedpuppy

Hopefully they enjoy their $60,000 after taxes. Sorry, I'm a bit bitter about the government's stealing a good portion of my bonus today.....

That's a fantastic gesture, imagine what it does for employee morale, productivity, and loyalty? Nice contrast to the much more prevalent attitude of treating employees like they are disposable.

I know you are just messing around, but bonuses are taxed the same as any other income, they just withhold a lot to anticipate spillover into higher tax rates

[aigel]

^ what ashen said. You get back the difference down to your regular bracket. Of course, with a 100k bonus, you will now land in a different zone. A zone where your child credit and many other tax cuts are no more.

I'd still say it is a good problem to have. Send me your bonus OWP, I'll be happy to pay taxes and keep the rest.

G

[AFC-911]

Originally Posted by Dantilla

Fascinating guy in a conversation. Very intelligent, but even though he's an engineering major, has a great personality. Who woulda thunk that?

Hahaha! Those don't exist.

[M.D. Holloway]

little light but times are tough...

[flatbutt]

Originally Posted by aschen

I know you are just messing around, but bonuses are taxed the same as any other income, they just withhold a lot to anticipate spillover into higher tax rates

I never got back near as much as they took because it always bumped me into a higher bracket. But yeah it's a good problem to have. Now that I'm retired I'm glad I always used that money to pay down my mortgage and other debt.

[Instrument 41]

Hilcorp is actually a very good customer of mine. This was given as for achieving certain goals that were put out there about 2 years ago (production, safety, acquisitions, accounting excellence). Not everyone got that much. It depended on the time employed, but all employees, not contractors, got a check a few month back.

[Cory M]

Very nice, especially considering most oil and gas companies have been cutting costs and pulling back. Seems like most companies would have given the execs the lions share and divided the leftovers among the rest of the employees. Nice to see a company make a move to create loyal employees, seems like most are indifferent to it these days (cutting pensions, benefits, etc). The oil and gas market is cyclical, and when it comes back strong they'll have a motivated work force ready to tackle it, instead of a burned out crew with low morale.

[wdfifteen]

Originally Posted by Instrument 41

This was given as for achieving certain goals that were put out there about 2 years ago (production, safety, acquisitions, accounting excellence). Not everyone got that much. It depended on the time employed, but all employees, not contractors, got a check a few month back.

This makes sense to me. I tried to imagine giving a large, across the board bonus to my people and how unfair it would be. I have some overachievers who deserve a bonus, and one person who bumps along just on the brink of being let go. It wouldn't be fair to the hard workers to give the same bonus to the slacker.

[Por_sha911]

Originally Posted by onewhippedpuppy

Hopefully they enjoy their $60,000 after taxes. Sorry, I'm a bit bitter about the government's stealing a good portion of my bonus today.....

Don't burden yourself with all that tax. Give it back or, better yet, give it to me.

My multi-million dollar world wide employer has give ZILCH for the last two years. This year, instead of giving us a holiday dinner the company has decided to make it pot luck and they will generously provide the plates, cups, and napkins. REALLY?

[john70t]

A Roth IRA in a 401K, stock options, 529 plans for kids, deferred promissory payments scheduled in a trust...all of those would lessen the Oprah hit.
(i think)

[allaircooled]

I got a $50 bonus for thanksgiving. Company paid the $5 in taxes so I got the whole thing!

[onewhippedpuppy]

Originally Posted by Por_sha911

Don't burden yourself with all that tax. Give it back or, better yet, give it to me.

My multi-million dollar world wide employer has give ZILCH for the last two years. This year, instead of giving us a holiday dinner the company has decided to make it pot luck and they will generously provide the plates, cups, and napkins. REALLY?

It was all of $3k, should help cover Christmas. I'm not going new Porsche shopping.

First world problems, I know.......

[LEAKYSEALS951]

can't resist:

[dad911]

My boss* is a jerk, no bonuses again this year.







* Self Employed