New pay structure is toxic - Software Engineer Bentley Systems Employee Review

New pay/bonus structure is an absolute train wreck and is costing us good engineers (we've lost 5 on my team alone, while adding none). There are no increases to your base pay, initially. Instead, raises are done through quarterly bonuses, which are tied to the success of the overall company. So if the company doesn't beat it's quarterly goals, your raise is basically meaningless, regardless of your performance. This system might be more tolerable if the company would consistently be above the thresh-hold that yields us significant payouts, but that has yet to happen. I've achieved 100% of my goals in the 3 years since working here and cleared nearly $3,000 less pay this past year from my first year due to the implementation of this pay system. Promotions have become undesirable as moving up the corporate ladder forces you to put a higher percentage of your salary into this bonus system, meaning you stand to lose a higher percentage of your pay if and when the company has a down quarter. Lastly, there's very little transparency, and we all basically just wait for our quarterly email telling us what trivial amount we're getting paid out that quarter, getting met with disappointment every time.