Nearly 200 employees of Baltimore-based commercial real estate developer St. John Properties received an early Christmas surprise when they found out what their bonuses would be this year!
During the annual holiday party on Dec. 7, the company’s founder and chairman Edward St. John told his 198 employees that they would all be sharing a $10 million bonus. That includes nine people who work at the company’s Salt Lake City office.
Each employee was given a red envelope, which contained the amount of the bonuses.
The bonuses are tenure-based, so while many workers are seeing $50,000 bonuses, some employees are getting six-figure bonuses upward of $250,000.
Employees were ecstatic. Some said they would use the money to pay off their mortgages, while others said they would send their children to college, and take dream vacations.
According to St. John Properties, the bonuses celebrate the company’s achievement of developing 20 million square feet of office space, retail and warehouses in eight states.
It’s our honor to publicly announce that a $10 mil bonus will be paid to all SJP employees in celebration of achieving our goal of developing 20 mil SF of CRE space! We are thankful for each of our employees, and thrilled to reward them in such a big way! https://t.co/EhfuulmVoG pic.twitter.com/pdw3zH6DbF
— St. John Properties (@stjohnprop) December 9, 2019