Hi
I am currently employed on a relatively low salary, comparatively to similar roles in my field (perhaps only 50% of the current market wage).
I have been employed on the basis that I am entitled to share in gross revenues of the company. The company is effectively a non-for-profit (while not technically setup as such) - which is why I have been entitled to a revenue share, as opposed to profit share.
However, I am finding that the bonus component of my income is significantly lower than what the bonus structure suggests I would be working towards. The structure is based on a threshold. I.e. company revenues = x, then bonus = y% of revenue. I have 4 thresholds of revenue which impact my bonus %.
However the revenues of the company are far lower than what had been suggested, both through verbal suggestions from their part, and through the bonus structure thresholds.
Currently the revenues of the company would need to increase 16x-fold before I reach my first threshold.
While I feel I have taken a risk in accepting this offer with the promise of great reward, I also believe I may have been lead down the garden path with regard to how much I should expect to be earning as part of a bonus component of my wages.
Question is - do I have a legal leg to stand on under employment law, or is it simply a case of tough-luck?
I am currently employed on a relatively low salary, comparatively to similar roles in my field (perhaps only 50% of the current market wage).
I have been employed on the basis that I am entitled to share in gross revenues of the company. The company is effectively a non-for-profit (while not technically setup as such) - which is why I have been entitled to a revenue share, as opposed to profit share.
However, I am finding that the bonus component of my income is significantly lower than what the bonus structure suggests I would be working towards. The structure is based on a threshold. I.e. company revenues = x, then bonus = y% of revenue. I have 4 thresholds of revenue which impact my bonus %.
However the revenues of the company are far lower than what had been suggested, both through verbal suggestions from their part, and through the bonus structure thresholds.
Currently the revenues of the company would need to increase 16x-fold before I reach my first threshold.
While I feel I have taken a risk in accepting this offer with the promise of great reward, I also believe I may have been lead down the garden path with regard to how much I should expect to be earning as part of a bonus component of my wages.
Question is - do I have a legal leg to stand on under employment law, or is it simply a case of tough-luck?