Performance Bonus

Good Bonuses as long as you do your job

Comparable to others in the industry.

Bonuses are based off of three things, your salary grade, your individual performance and your department's performance. Salary grade: The higher salary grade you are, the more of a percentage of your annual salary is given as a bonus. For instance, as a new engineer, you'll get a bonus every year of about 8% of your salary. Every promotion gets you about 2% more of your salary. Individual performance: If you're underperforming, your bonus gets chopped. Division performance: This is where the big variability happens. Your base bonus percentage gets applied a multiplier. If your division (Engines / Mining / Earthmoving / Construction/ ETC) is doing profitably, you can get more of a bonus than just your base bonus. If your division is doing poorly, you get only a smaller percentage of your base bonus. If your division is doing REALLY bad, you essentially get no bonus. Leadership strives to shoot for a multiplier of 1, which means you get at least your bonus, but there are times when the company is doing very well where you get almost double your normal bonus. This gets evened out when the company is doing poorly and bonuses are cut.

For an entry level engineer, an average year will be ~8% bonus. In about 4-5 years, you should be at ~12%. My first year (right out of college), which mind you was an amazing year for caterpillar, my bonus was 19%. 3 years later, on a pretty good year, my bonus was 19%. If the downturn remains approximately the same, my bonus next year will be 10%, and this is considered a mid-bad year! And these percentages are percentages of your ANNUALsalary

For an entry level engineer, an average year will be ~8% bonus. In about 4-5 years, you should be at ~12%. My first year (right out of college), which mind you was an amazing year for caterpillar, my bonus was 19%. 3 years later, on a pretty good year, my bonus was 19%. If the downturn remains approximately the same, my bonus next year will be 10%, and this is considered a mid-bad year!

This is not that good for the employees.

Depending on how CAT does we get a bonus around the middle of the year.

It depends on the year. In average, you get a few thousand dollars