TY  - RPRT
        AU  - Grund, Christian
AU  - Hofmann, Tanja
        TI  - The Dispersion of Bonus Payments within and between Firms
        PY  - 2017/Mar/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 10642
        UR  - https://www.iza.org/publications/dp10642
        AB  - We explore the dispersion of bonus payments of managers within and between five large firms from the German chemical sector. We use data from a yearly salary survey in these firms during the observation period 2008 to 2013. Bonus payments account for 20 percent of base salaries on average. Both the amount and the dispersion of bonus-to-base ratios differ across firms. We disentangle the dispersion between and within the levels of firms' hierarchies. Revealed differences are consistent with differences in firms' value statements.
        KW  - pay policies
KW  - firm differences
KW  - bonus to base rate
KW  - bonus payments
KW  - wage dispersion
        ER  -