We are a UK based Project Consultancy and we are reviewing our bonuses. What is typical in the market?

  • We see a lot of your competitors offering bonuses around the 10 – 15% mark.
  • Some companies are more generous than this, particularly if they reward based on personal billing thresholds or bringing in clients and the employee smashes the targets.
  • Typically bonuses are discretionary and based 50% on employee performance and 50% on company performance.
  • Most pay bonuses once a year either in December, January or April. Some split the bonus if its a large amount or provide a bonus every 6 months.
  • We have some clients who reward a discretionary bonus and then a tax free bonus through their EOT scheme which can be up to £3,600.
  • Some, not many, consultancies don’t provide bonuses at Assistant Project Manager, Project Manager and Senior Project Manager level. We often hear from candidates like these who feel they are not being rewarded for going above and beyond so we would recommend all fee earners and support teams being motivated through an incentivising bonus scheme in a bid to retain talent.

📩 If you have a question please email questions@richmond-capital.co.uk

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