Maryland real estate company surprises employees with $10 million bonus to split
Source: YahooFinance
St. John Properties, a Baltimore-based commercial real estate property management and development company, provided a $10 million bonus for its 198 employees to split at its annual holiday party on Dec. 7.
The [bonus] distribution was based solely on years of service. It had nothing to do with a person's position in the company, Larry Maykrantz, president of St. John Properties, told Yahoo Finance in a phone interview. We spent a little bit of time discussing it and believe me, once we made that decision, we realized that was the only fair and equitable way of handling this.
Individual employee bonuses ranged from $100 to $270,000, according to the companys LinkedIn post. On average, each employee received about $50,000.
Read more: https://finance.yahoo.com/news/10-million-bonus-company-bonus-maryland-012153557.html
Nice to post good news for a change
dewsgirl
(14,961 posts)a $100 dollar Christmas bonus.
oldsoftie
(12,485 posts)Hawaii Hiker
(3,165 posts)and maybe a $10 gift card..
bucolic_frolic
(43,024 posts)If I were a customer I'd wonder if I overpaid a little.
DFW
(54,268 posts)If they did $5 billion in business a year and made a 1% margin on their trades after expenses, that means they made $50 million. I'd be happy to deal with a company that worked on that kind of a margin.
You can only know the answer to what you're wondering after knowing what their annual turnover is.
bucolic_frolic
(43,024 posts)I was more illustrating a point that profits ultimately are paid by people. I try to find room to get a good deal here or there. Not that I begrudge businesses their profits, I just don't want to pay the highest one of the month.
DFW
(54,268 posts)It's unlikely they got that successful by gouging their customers. A real estate company is nothing more than a service provider. If their service sucks, word gets around fast and they will fail when the customers go elsewhere. Besides, a company that turns around and voluntarily shares $10 million of its profits among its 200 employees is hardly one likely to be run by greedy, selfish, predatory businessmen.
marble falls
(56,974 posts)PatSeg
(47,230 posts)csziggy
(34,131 posts)Our real estate investments are valued at more than 3.5 billion dollars, and we proudly serve over 2,200 clients across eight states including Maryland, Colorado, Louisiana, Nevada, Pennsylvania, Utah, Virginia and Wisconsin.
During our 48-year history, our portfolio has grown to 20 million square feet of real estate consisting of class A office, flex/R&D, retail, warehouse and residential units. We continue to expand our portfolio, explore new markets and constantly evaluate new business opportunities.
https://www.sjpi.com/company
Edward St. John was named Baltimore CEO of the year this year:
Baltimore Business Journals 2019 CEO of the Year: Edward St. John
Baltimore Business Journal | Melody Simmons
<SNIP>
Ed St. John has a succinct way of summing up his many decades in real estate development.
I play Monopoly with real money and real buildings, he says. I dont work. I play Monopoly and thats why Im still here.
If thats the case, the patriarch of St. John Properties has built a life-size game board of 20 million square feet of office, retail, warehouse, flex and residential properties in eight states worth more than $3 billion.
He is both stoic and quick witted, arriving regularly at the office in a Chevy Suburban with a gym bag at the ready for his daily workout. At 81, St. John is regarded by his peers as a visionary and teacher whose role as a major philanthropist has cemented his legacy.
More: https://www.sjpi.com/awards/baltimore-business-journals-2019-ceo-of-the-year-edward-st-john
It seems as though they do all their planning and maintenance work in house. Here are current open positions:
Available Positions:
BALTIMORE, MARYLAND
Building Engineer | Designer/Space Planner (1-3 years experience) | HVAC Technician | Laborer | Real Estate Investment Analyst | Property Administrator
FREDERICK, MARYLAND
Maintenance Technician | Project Manager Tenant Interior
PLEASANT GROVE, UTAH
Interior Designer/Space Planner
https://www.sjpi.com/company/careers
AllaN01Bear
(17,935 posts)Aristus
(66,272 posts)benld74
(9,901 posts)Better than nothing tho
TexasBushwhacker
(20,124 posts)The one that got $270K had been with the company over 40 years. The average bonus was $50K.
elleng
(130,698 posts)from a small, local real estate developer into one of the largest and most successful privately held commercial real estate firms in the Mid-Atlantic region.
Our real estate investments are valued at more than 3.5 billion dollars, and we proudly serve over 2,200 clients across eight states including Maryland, Colorado, Louisiana, Nevada, Pennsylvania, Utah, Virginia and Wisconsin.'>>>
https://www.sjpi.com/company