Last night my husband was offered a job at his former company. He left there in February for greener pastures that haven't necessarily turned out to be so green. The offer is a good one, nearly the same salary, they want to groom him to replace the Controller when their current Controller retires in a few years, etc. The issue is that they're offering him a one-time sign-on bonus of $7500. We'd get this check right after we file.
What happens to that money? We can certainly use it, to pay our property and real estate taxes, among other things, which we'd more than likely pay before we're ever confirmed. Will the trustee take it? I've put in this question to my attorney but haven't heard back yet.
**Edited to add: With the new job his monthly paycheck will actually be less, but the sign-on bonus makes the annual salary $2000 a year MORE than what he is currently making. (If that makes sense) This bonus is not guaranteed every year, or the amount for that matter, but when he worked there previously he was always given a bonus of some kind. Some years it was very good, other years it was not as good. Again, no guarantee of a bonus at all, but more than likely yes, he'll get something each year.
Before you ask why he'd take a job for slightly less money (it's really a nominal amount less), it's because of the guarantee for the advancement. After he left 9 months ago the company has been pursuing him to get him to come back, and are making huge allowances to get him to do so. Lots of good stuff, including advancement.
What happens to that money? We can certainly use it, to pay our property and real estate taxes, among other things, which we'd more than likely pay before we're ever confirmed. Will the trustee take it? I've put in this question to my attorney but haven't heard back yet.
**Edited to add: With the new job his monthly paycheck will actually be less, but the sign-on bonus makes the annual salary $2000 a year MORE than what he is currently making. (If that makes sense) This bonus is not guaranteed every year, or the amount for that matter, but when he worked there previously he was always given a bonus of some kind. Some years it was very good, other years it was not as good. Again, no guarantee of a bonus at all, but more than likely yes, he'll get something each year.
Before you ask why he'd take a job for slightly less money (it's really a nominal amount less), it's because of the guarantee for the advancement. After he left 9 months ago the company has been pursuing him to get him to come back, and are making huge allowances to get him to do so. Lots of good stuff, including advancement.
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