Should You Consider New Jobs When The End Of Year Bonus Is Imminent?

18 November 2020


It's the big question that every career-minded individual asks at this time of year: Do I consider that company or headhunters amazing job offer before I receive my bonuses?


And we understand it completely. After all, you've worked hard to receive your employer's end of year bonus and there is also the enticing Chinese New Year bonus due in Quarter One!


But there are risks involved in sitting out your current role too. Firstly, bonuses aren't always guaranteed, especially in the current global environment.


Secondly, sitting tight for a bonus means potentially missing out on that perfect role. Particularly as you move higher up the career ladder, great roles just don't come around that often.


And once you've received your payment, and waited for your Chinese New Year bonus, you'll already be several months down the line, no further forward in your career. What's more, that job might have passed. And the market will suddenly be crowded full of other job-seekers who are also ready to change after receiving their bonus, fighting over the same jobs!


Why not avoid this situation already and think strategically and with a long-term perspective.


Firstly, the most important thing to remember is that companies want to hire great candidates. So if you see a game-changing opportunity and believe you could be well matched for it, you instantly have leverage. Especially at a time when the job-seekers market is likely to be quieter as your competitors sit it out.


At SVA recruitment, we know that our client firms are seeking to expand across Asia, be it local, Asian or Western companies. And we know that this gives our candidates leverage. So try these tips:


Tips to try when applying for a new role at bonus time


1. Apply for that excellent job. Tell them in advance you have a certain amount of bonus they must compensate if all goes well, excel in the interview, and wait for an offer. After all, they want you and will already have spent money on the recruitment process. Until this point, you have lost nothing and you haven't compromised your current bonus arrangements. And remember many tech businesses will prefer to cover the bonus you were expecting where you are, to capture a great new hire than risk losing out on that talent.


2. If the prospect of a matching bonus payment looks unlikely, then negotiate. Can you gain leverage using other aspects of your CV to increase your starting salary, for example? Can you negotiate for accredited training that will further strengthen your CV? Could you pitch to home-work for a certain part of the week to reduce your costs? Think about what you really want from this role and think broadly, considering what is also important for the employer and what is likely to work within their budget.


Obviously, you don't want to push it to the point where they go to another candidate, but good negotiation tactics can often net you surprising benefits against the beginning offer. And you won't lose any value in your employer's eyes by negotiating either. In fact, many may recognize your business skills in action!


Contact SVA Recruitment today for details - and support - of the latest and best tech roles in the market to successfully apply for your next job in Hong Kong.

 

 

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Silicon Valley Associates is ideally positioned to support the continual demand from tech companies and IT Departments looking to hire in Hong Kong, Asia, and Worldwide. Please let us know if you would further advise on the above topic or your hiring needs

 

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