🔺 r/personalfinanceuredditandreadit101·55 days ago
Profit Sharing In Company
Hi all, I have been offered 1% profit sharing from my directors as compensation for my loyalty and basically for them to get me doing some of the senior management tasks that they would like to step away from. Firstly, this outcome arose following a salary review in which they rejected a $30,000 pay rise in lieu of this profit share arrangement. I don't currently have access to their profit and loss statement to determine their current net profit, however I suspect it to be in the vicinity of $3-5 million a year. On paper if this is the case, their is a clear benefit here over the $30,000 pay rise. However what things should I be aware of before signing the profit share agreement which is yet to be drafted and issued to me? submitted by /u/redditandreadit101 to r/personalfinance [link] [comments]