Ana is an economist and got a job with a multinational
bank located in Brazil. The Bank hired Ana for an annual salary of $50,000 and a performance-related bonus of 3 extra salaries. She will also receive some benefits in the form of health plan,
subsidized food ticket, transport fee, free telephone, and pension scheme. She says her benefit package is good, but she will like to have a company car as a perk. She is
happy because the remuneration package or compensation package is good. She says her salary is 10 times the minimum wage. Ana's hiring contract says she has to work overtime if the bank needs her. The overtime will not be paid for. However, if she gets contract for the bank, she will receive 10% commission over the total amount of the contract. The Bank does not provide canteen for the feeding of the workers. Instead, workers eat in a restaurant near the Bank. Each time she eats there, she gives tips to the restaurant worker. For vice presidents and the president of the Bank, their compensation package include some shares of the bank or what is called stock options. If the performance of the executives is good, the stocks will value a lot and they can sell them to make money. The hiring contract also shows what the workers should receive in case they loose their jobs. These include about 3 months salary, bonus, and firing fine. These constitute the severance package. Some executives, including company presidents receive a lot of money when they are fired. This is more than severance package. It is called a golden parachute. Some chief executive officers receive more than $100 million when fired.
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