Year-end Bonuses Down 13.1%
When workers get their year-end bonuses this year, they are likely to find them a liittle lighter than usual. For the first time in 7 years, companies listed on the First Section of the Tokyo Stock Exchange will cut bonus payments by 13.1%, the steepest such cut since records began in 1970.
Year end bonuses will average 659,864 yen, which is the equivalent of 2.09 months pay (down 0.35 months since last year).
Many Japanese workers rely on their bonuses as an integral part of the compensation package. Personally I would prefer to see bonuses be used as a… bonus…, whereby workers are given a fixed salary and then given something extra for great work or when the company is doing well. But the bonus system is firmly entrenched in Japan, and most workers factor their mid and end of year bonuses into their household budgets and for the repayment of debts, school expenses and the like.
Source: Japan Today
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Tags: Bonuses, Salary, Year-end Bonus
The bonus system in Japan is incredibly unfair. It’s basically a way of withholding or adjusting wages. One of the benefits of being a contract employee is that you arent locked into this system and your wages are guaranteed. I think that’s why some people who are offered the chance to be a salaried worker turn it down and remain what is called a “temporary worker”. They not only don’t have to worry about getting gypped on bonuses when the company is doing poorly, but they also don’t have to work unpaid overtime.