RE: Finder's fee

Subject: RE: Finder's fee
From: "Carnall, Jane" <Jane -dot- Carnall -at- compaq -dot- com>
To: 'TECHWR-L' <techwr-l -at- lists -dot- raycomm -dot- com>
Date: Mon, 12 Jun 2000 11:50:46 +0100

/Kevin sez:
>Humph! So, the new recruit gets a new job -- either coming
>from recent unemployment, or jumping to a better situation --
>and likely gets a signing bonus (or moving expenses paid).
>The finder employee (who went out of his way to help the
>company and to help newbie improve his/her circumstances)
>gets CHARGED a percentage??!?

Er, no. The finder gets the money at the end of the set period, and no one
else is entitled to any part of it, except of course the Inland Revenue. But
at least in my old company, I noticed that often the finder DID give the
newbie half the bonus: after all, the finder and newbie presumably already
knew each other, might be friends outside work, and the finder might feel
that the extra money was as much due to the newbie's good work as to the
finder happening to be in the right place at the right time.

>No doubt, the employer isn't involved in such a transaction,
>so the money is taxed -- IN FULL -- as it enters the finder's
>bank account, but not at all when half goes into the recruit's
>account?

I didn't inquire into their taxes: in the UK, it's considered as rude to ask
people what tax they pay as it is to ask them what they earn. You *can* ask,
but you're expected to preface it with "not that it's any of my business"
and not pry further if you don't get told. I didn't know any of the people
who were either finders or finder's newbies all that well. However, I would
*guess* that the finder gave the newbie half the fee after tax, and left it
up to the newbie to decide whether or not to declare the extra 300+ ukp to
the IR.

>Is the finder offered half of the recruit's signing bonus or
>stock options? Didn't think so.

I don't know: I've never worked for a company where those were on offer. I
have never received a finder's fee, or been recruited by a friend who then
received one.

>You wanna come work for my company, <snip>
>Don't expect me to split the finder's bonus with you.
<snip> You aren't hanging on in misery just because
>you expect $1000 (or less... taxes, remember?) from me,
>are you? Gonna declare that cash? Maybe I'll make a little anonymous
>call to the tax man. Sheesh!

No, thank you, I don't want to come work for your company.

Jane Carnall
Technical Writer, Compaq, UK
Unless stated otherwise, these opinions are mine, and mine alone.




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