How Do Bonus Payments Work?
A bonus is an arrangement which gives working people an extra payout, sometimes once a year, sometimes several times in a year. One of the most common types of single bonus given out is a Christmas, or holiday, bonus. You can sometimes make an arrangement with your employer to receive it at a different time.
The bonus you receive is usually equal to a portion of your regular monthly salary, at least 50 %.
Saul Seal’s salary for the year is $24000. The company policy is that employees also receive 8.5% of their annual regular salary as a holiday bonus.
How much will Saul’s holiday bonus be?