Porsche Employees Earn $11,000 Bonus After 2018 Record Year
21 March 2019 - motor1
Working for one of the world's premier sports car manufacturers just got a whole lot sweeter.
If you've ever worked in the corporate world, you likely know about the joys of profit sharing programs. For those uninitiated, let us break it down for you. if your company has a good or bad year, it's the result of a team effort, and everyone plays their part in the machine.
If it was a good year, a company that offers profit sharing will pay out a bonus – usually a percentage of that employee's yearly salary – based on just how well the company did, and, occasionally based on the employee's department or specific role. It's especially nice as the payouts usually fall around Christmas or tax time, which helps with holiday bills or comes as a sort of second refund.
Well, Porsche believes in profit sharing, and they had a good year last year – real good. As a result, their employees will be receiving a bonus of up to €9,700, or $11,000, give or take. The lion's share of that money will be paid as a cash bonus, while a much smaller percentage will be paid into employee pension funds, making retirement just a little sweeter when those employees reach it.
This comes after a banner year for Porsche. Revenue leapt 10%, while both operating profit and vehicle deliveries increased by a not-too-shabby 4%. In fact, this is the second year in a row that employees – about 25,000 according to the press release – will be receiving this substantial bonus as a reward for their hard work.
The bonus for 2017, paid out around this time last year, was just over a hundred Euro less than this year's. Just a few months ago, employees received a bonus of €356 to celebrate Porsche's 70th anniversary. The idea of working for Porsche has always seemed cool to us, and it just got a whole lot cooler.