-
Hey, guest user. Hope you're enjoying NeoGAF! Have you considered registering for an account? Come join us and add your take to the daily discourse.
Sony to pay record bonuses in FY2021 (Sony expected to net 10B profit)
- Thread starter bitbydeath
- Start date
- News
Endless Fluff
Banned
This is Sony as a whole but mostly the Games and their Music and Anime division which make up 50% of the total profit. From the 1.085 trillion Yen profit they projected in February they expected the gaming division to hit around 350 billion Yen. Sony Music (which includes Anime) was expected to hit 180 billion Yen.
Sony sees record $10bn profit as COVID ups home entertainment demand
Gaming subscription services and hit film 'Demon Slayer' drive second upward revision
asia.nikkei.com
Last edited:
Zeroing
Banned
From what I read about it, Apple only does that for Tim Cook, that is how the American corporate business works?
Fake
Member
The guy in question already got banned, so.
Ask him when he back.
Sony PlayStation - Play At Home - 9 New FREE PS4 Games Now Available (Moss, Rez, Abzu, Thumper, more)
https://blog.playstation.com/2021/03/17/play-at-home-2021-update-10-free-games-to-download-this-spring/amp/ All available for free now: https://store.playstation.com/en-us/product/UP0751-CUSA05868_00-REZINFINITE00000...
Last edited:
fran.fernandez
Member
I work in japan and bonus are normally 2 or 3 months of your salary.
so if you make 8.000 us monthly your bonus is 24.000 us (3 months company)
The bonus is paid in two parts June and December. So 12.000 / 12.000
Take out the tax 9.000 / 9.000
Bonus are only paid for full time employees and MUST be write down in the contract. If your contract said bonus value with sales then, it can be O or X.
If the contract say the amount of the bonus then they need to pay it even if you quit.
so if you make 8.000 us monthly your bonus is 24.000 us (3 months company)
The bonus is paid in two parts June and December. So 12.000 / 12.000
Take out the tax 9.000 / 9.000
Bonus are only paid for full time employees and MUST be write down in the contract. If your contract said bonus value with sales then, it can be O or X.
If the contract say the amount of the bonus then they need to pay it even if you quit.
Kerotan
Member
Same with Activision and EA.
Thirty7ven
Banned
Unfortunately it really is surprising when a company decides to reward its employees. That’s the kind of shitty corporate world we live in.
Zeroing
Banned
Amiga
Member
will it be the same for all divisions regardless of performance? dose it include subsidiaries?
jakinov
Member
The article is from a Japanese site and it's not explicitly said (or implied) that all employees in the world. The fact that a union is involved would also lead one to believe it would only apply to workers who are part of whatever union.
Hendrick's
If only my penis was as big as my GamerScore!
Good for them. Where do I sign up for a union?
Krizalidx11
Banned
They'll lose that money on their movies
jakinov
Member
The profits and the article is about Sony as a whole but the payout is not clear whether it's all of Sony or not. Because the article is Japanese, pay works differently there (bonus based), and a union is involved; it likely isn't worldwide employees.
That's not true. There's a shit ton of companies out there and you can get massive bonuses depending on what field you are in and what company you work for.
Apple, Activision and EA do pay their employees bonuses. Especially in "business" related positions and tech positions. The janitor probably not. But in order to hire the best people in "business" and tech; they need to offer either high base salaries or competitive packages. But like Tim Cook they don't just give him bonuses at the end of the year, it's usually performance based and when they hired him. They also pay out "bonuses" through stocks which ends up being several or 10s of thousands of dollars in stock a year that you can sell for cash. People get "multi year stock deals" (RSUs) upon joining the companies and get even more if they continue to show that they bring value to the company (and upon promotions).
DonkeyPunchJr
World’s Biggest Weeb
Is it? I work for a fairly large corporation and they have always had a bonus program to reward employees based on individual and company performance. Last year they even ignored the company performance part (after we missed our goals due to COVID) and gave us a bonus anyway. And I know this is standard in my industry.
Grand Theft Scratchy
Banned
10 billion is a big number!
Zeroing
Banned
Stocks so, basically work hard for your company! If we sink, you sink with us but even harder!
I’m being sarcastic!
bitbydeath
Member
This sort of article is expected to come from a Japanese site because Sony is a Japanese company and the money earned in the article is a global figure and it would make sense if bonuses were to be handed out to the global entity since it is a global earning and wouldn’t make sense to restrict to just one division of a global company.
Bo_Hazem
Banned
Sony employees be eating.
Sony to pay record bonuses in FY2021 | NHK WORLD-JAPAN News
Sony says it will pay its employees record-high bonuses, even higher than what their union asked for. The compensation from the Japanese electronics giant is equivalent of seven months' salary.www3.nhk.or.jp
That's why too much free games being offered by Sony lately.
jakinov
Member
The fact that it's only in Japan leads one to believe that it's only for Japanese and no just because Sony is HQ in Japan and originally Japanese doesn't mean that this stuff is likely going to come from Japan. Sony operates globally and the US is still a major target of their business. If they are going to spend a lot of money and give it to people not based on performance.The “global figure” I'm assuming you are referring to is the expected yearly profit that they analysts think they will report. That's not how much they are handing out. So that's not a great justification for why it's for the whole company. It's just fluff the author added to show that Sony as a whole is doing well which is why they have extra money to give.
It wouldn't make sense for them give out all of their profit or a bonus to all their employees because a union asked them to. All of their employees are not unionzed. They have a shit ton of employees some making lots of money and it’s implied that this happens regularly which makes it even more likely just Japan because Japan pays low salaries and pays out a big chunk compensation through “bonuses”.
The Pleasure
Member
Sony employees be telling Activision employees about their bonus
StreetsofBeige
Gold Member
Totally. Bonuses mean nothing unless you know the starting salaries.
My company is typical. Decent salary and modest/good bonuses if we have a good year. Even in meh years, we still get a bonus of about 10%. It's always in that 10-25% range.
Friends I know who work at other companies can have wild west bonuses, including ZERO %. The payout structure is that rigid with no room for error. But when they do well, those bums say they get 40% which blows by anything I've made.
At the end of the day, it looks like our companies are probably a wash. But my place pays a steady bonus while some friends have roller coaster bonuses.
Last edited:
TKOFromTokyo
Member
60% of that is marketable securities tied up in Sony Financial Services which is managed separately from the rest of Sony’s cash management and is restricted by law. Actually read their SEC filings to understand these numbers.
Last edited:
bitbydeath
Member
Anything to do with their financials always comes out of Japan.
jakinov
Member
Right because their HQ is in Japan things like earrings will come from Japan but a worldwide bonus to 100k employees worth possibly a billion dollars is a big deal that announce in one country. Any big news they announce, they announce everywhere. They have owners around the world and they trade and do a lot of business in the US. And it can originate from anywhere. And again Sony employees around the world are not unionzed and so why would Sony pay a bunch of non uninonized (~97%) workers what they agreed to pay with the union. The union is also a Japanese union. It also doens't make sense to just throw away a bunch of money that's not based on individual performance. Again what makes more sense is that it's the Japanese bonuses that they normally get that aren't performance based. There's also multiple articles of previous years where they give this bonus with specific yen amounts specified and they call it an annual bonus. The other thing is employees already get bonuses through RSUs, sign-ons and performance. Sony wants to grow their company and they aren't going to just waste their profits when they could be using it for growth.
bitbydeath
Member
The specific announcements to each region would be internal based. All we know is Sony is expecting big profits and bonuses would be issued.
That’s the entire article.
Last edited:
Bryank75
Banned
No, they're actually up in Film and TV....
They make so many of the programs for streaming platforms it's incredible....The Crown, The Boys, Alex Rider, Breaking Bad, Outlander, Community, Cobra Kai, Better Call Saul etc etc.
Plus all the films they are also providing to streaming platforms....
Sony Pictures Quarterly Profit Jumps to $212 Million
Sony Pictures saw its fiscal third-quarter profits jump to $211 million despite the novel coronavirus pandemic continuing to weigh heavily on the theatrical film business.
www.hollywoodreporter.com
Salty Popsicle
Banned
None of this money is going to game developers, just Sony executives and those who work at the various Sony headquarters/offices around the world.
adamosmaki
Member
the fact that people take joy in a multibillion company profits because they like their products and are fanboys of said company is really sad. I mean i like valve but i dont really care how much money they made
PharaoTutAnchAmun
Member
But they are working for a Japanese Company named Sony....
jakinov
Member
I'm not talking about announcing it to the internal employees so that they know. If you re going to give a multil-billion dollar pay out you are probably going to want to tell shareholders you're spending what could be re-invested or paid out as dividends; and show off at a PR level your gratitude that you treat your employees well (otherwise how are you going to attract talent).
We also know that a union negotiated this based on the articles (and that all of Sony isn't uninonized). And we also know that the information is only reported in Japan and that Japan compensation system is heavily based on big bonuses 1 or few times a year. From Google, you can find out even more and that they've given this out before and articles even call an annual bonus and that the union that asks for the money only covers ~3000 members of the 111,000 sony employees. Maybe because they agreed to pay the union workers so much they are going to do the same for the other 108,000 employees? I doubt that. And again if they were going to do such a big payout, they'd probably want to disclose it to shareholders else they'd be pretty pissed.
bitbydeath
Member
You’re assuming a lot. Why do you think they haven’t told Shareholders?
hybrid_birth
Member
HeresJohnny
Member
Gotta hand it to them, and I have no problem really with bonuses being paid, but their launch has been a fucking disaster for consumers, from lack of games, to broken pre-order promises to inventory systems that have been pro-scalper, Sony has proven that you can make a shit ton of money, have a successful launch on paper, and still generate ill-will with once fans.
Last edited:
jakinov
Member
Because there’s thousands of shareholders all over the place and companies general communicate with shareholders through earnings calls, investor relations sites or just public announcements in order to try and reach them all. They generally don’t quietly pay billions out in non performance based bonuses on top of regular bonuses. Maybe they plan on announcing it later? Doubtful. So far all we know is they agreed
to pay a Japanese union of 3000 members slightly more than what they asked for and a few Japanese sites reported on it.
bitbydeath
Member
Or maybe they already did and you’re not privy to it.
jakinov
Member
Sony’s a public traded company. They aren’t going to disclose a major payout to only a subset of their shareholders in private. Just like again a company hoping to grow more is not going to squander billions of dollars of their profit in giving people bonuses they aren’t going to at least brag about to attract talent; or pay the non-unionized workers what they agreed to pay the unionized workers.
SlimySnake
Flashless at the Golden Globes
They are robbing PlayStation gamers blind by charging them $70 for games. Milking franchises by porting them to pc instead of patching 60 fps modes for ps5. Killing beloved studios. I'm sorry, 'restructuring' studios while making fewer exclusives than they did in the ps3 era when they ere losing billions every year. Not to mention, killing servers of online games. Stuff that costs maybe a few thousand every year. Of course, they are making bank.
Great time to be a Sony fanboy.
Awful time to be a PS fan.
Great time to be a Sony fanboy.
Awful time to be a PS fan.
bitbydeath
Member
You’re guessing, all we have is what’s in the article.
jakinov
Member
We have also other publicly available information and basic reasoning. At the end of the day though I am "guessing" on them probably not giving out large gratuity bonuses to their 110k employees. All I've been doing since my first post is arguing on why I think the article is only about Japan and giving my reasoning and introducing facts from outside the article.
Burythelight
Member
80 % of this post is jump to "conclusion the game" and stupidity from rumors. Sony is never been so strong from economic level and number of studios side.
SlimySnake
Flashless at the Golden Globes
Which part of my post is based on rumors?
Similar threads
- Locked