Do most companies ask to return the joining bonus if they fire you within the first few years?
@yesmonk - It's generally written in the contract, also it's a function of quantum of amount. Say, I am hiring someone - giving her JB to cover for the RSU/SAR she stands to lose - i better have a claw-back clause.
Alternatively, I am giving JB to buy for the notice period - maybe no claw-back is required.
So. It Depends.
What's RSU SAR
Stock Appreciation Right A Stock Appreciation Right (SAR) is an award which provides the holder with the ability to profit from the appreciation in value of a set number of shares of company stock over a set period of time.
Restricted stock units (RSU) Restricted stock units are a way an employer can grant company shares to employees. The grant is "restricted" because it is subject to a vesting schedule, which can be based on length of employment or on performance goals, and because it is governed by other limits on transfers or sales that your company can impose.
You can negotiate on waiving off joining bonus, notice period and relocation allowances if any, if it’s a layoff/downsizing. For performance or ethics issues, say goodbye to these.
This
Let’s say I leave a company after 2 months. What would happen if I don’t return their joining bonus.
They have a clause in offer letter that says I should return the amount if I leave before a year.
Trying to access what paths typically a company takes when an employee doesn’t return joining bonus after they resign within one year of joining. What are some some worst cases? Can they do a court cases? What happens in those scenarios....
My new offer letter says to return the joining bonus if I don’t serve for 24 months. Is this time frame fair? What the time frame in your company?
I got to know that budget for the role i interviewed is in range of 20-25 LPA. My last drawn salary itself is lower than the market standards. The company wouldn't give hike more than 30% considering my experience in the role domain. But...