How would you feel about receiving a bonus equivalent to 120 months of your salary? If such a notion seems unrealistic, these international companies are here to prove you wrong. Through their remarkable success and substantial profits, these companies have shattered expectations by rewarding their employees with extraordinary bonuses.
In this article, we will explore how they achieve such impressive financial feats and, in turn, generously reward their hardworking employees.
1. Evergreen Marine – 52 months’ worth of bonus
Taiwanese shipping giant Evergreen Marine Corp has made headlines once again, this time for rewarding its 3,100 employees with an impressive year-end bonus. The bonus amounts range from 10 to 52 months’ worth of salary for each employee, reflecting the company’s significant increase in profits.
The company, which gained international attention in 2021 when one of its container ships blocked the Suez Canal, has surpassed its previous record of a 40-month bonus payout in 2021. This new bonus payout sets a new benchmark as the highest year-end bonus ever granted by a listed Taiwanese company.
According to local media reports, even junior workers at Evergreen, who earn a monthly salary of $1,750 (RM8,057), received bonuses totalling $2 million (RM299.47 million). This amount is equivalent to approximately five years’ worth of income for these employees.
Evergreen reported an impressive 39.82% increase in profits, reaching $16.25 billion (RM74.815 billion) for the financial year ending in 2022, as reported by The Straits Times. The surge in profits can be attributed to the growing demand for consumer goods during the Covid-19 pandemic and escalating geopolitical tensions.
2. Hyundai Oilbank – 120 months’ worth of bonus
In South Korea, oil and gas firm Hyundai Oilbank made headlines by awarding its employees bonuses equivalent to 1,000% of their base salaries, which translates to 120 months’ worth of bonuses for the year 2022.
While the exact bonus amounts were not disclosed by the company, it was reported that each employee received bonuses averaging around $94,800 (RM436,459). This amount represents approximately 600% of their base salary or approximately six years’ worth of income.
The oil and gas company experienced a remarkable 226% increase in profits during the third quarter of 2022 alone, with total profits reaching approximately $2.9 billion (RM13.351 billion) within the same period. These profits were primarily attributed to the surge in global oil prices and the scarcity caused by the protracted Russian invasion of Ukraine, which coincided with increased demand for heating during the winter months.
3. Yang Ming Marine Transport Corp – 30 months’ worth of bonus with additional 12 months
Just recently, Yang Ming Marine Transport Corp announced that they will be rewarding their employees with up to 30 months’ salary as a bonus on their next payday, totalling $113 million (RM520.252 million).
In addition to that, they also received a year-end bonus equivalent to 12 months’ salary, which was paid at the beginning of the year. According to the report, the company’s regulations stipulate that 1% of the previous year’s profit must be distributed to employees as compensation. However, the specific amount each staff member receives is determined at the company’s discretion.
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