Ferrari has got to be a great place to work. In fact, it's named as one of the best places to work in Europe year after year. Add to that the pride of making some of the coolest cars in the business, running one of the winningest teams in all of motorsports (even if the Scuderia isn't doing so well thus far this season) and all around standing for the best Italy has to offer, and you've got the makings of a dream job. And it just got a bit sweeter.

That's because Ferrari has just awarded each and every one of its employees a bonus of 4,096 euros – the most the company has ever paid. That's equivalent to over $5,600 at today's exchange rates, and represents a whopping 20 percent of the annual salary for a recently hired young employee. Following two advances of 1,000 euros each, that means employees will find an extra 2,096 euros in their pay checks this month, which may not be enough to buy a new California T or 458 Speciale, but should finance a nice shopping spree of t-shirts and paperweights at the Ferrari Store or a family vacation to Ferrari World in Abu Dhabi.

The bonuses are part of a deal signed with the union in 2012, but are enabled by record profits reported by the company over the last couple of years. After 2012 emerged as Ferrari's most profitable fiscal year, it moved to reduce production, thereby increasing the value of each new car it sells to drive profits up even higher. Nice work, in short, if you can get it.
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Record bonus awarded to Ferrari employees

Maranello, 8 April 2014 – Ferrari has announced that its production bonus for employees for 2013 will amount to 4,096 euro, the highest ever awarded in the company's history.

The production bonus is in recognition of the excellent financial results achieved last year, not least of which were record profits, in addition to other parameters, such as levels of quality.

This means that, on top of the two advances of 1,000 euro each already received, Ferrari employees will find an extra 2,096 euro in their pay packets this month. For a young employee hired recently, this equates to an extra 20 per cent of his or her annual salary.

This bonus, the result of an agreement signed with the unions in 2012, is linked to a grid of operational values with the objective of sharing the company's success.

Last year, as well as the production bonus, an additional three-yearly bonus was paid out and Chairman Luca di Montezemolo has announced its extension for a further three years.

In 2013 Ferrari adopted a strategy to reduce production to under 7000 cars a year to preserve their exclusivity and value over time, and this strategy will continue this year and into 2015. Last year revenues increased by 5 per cent and trading profits rose by 8.3 per cent. These are unprecedented figures, as is the net financial position which, at the end of 2013, stood at an all-time high.


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  • 33 Comments
      Russell Ford
      • 8 Months Ago
      I heard they were given the choice of either $5,600 cash or a carbon fiber chin-spoiler.
      eptech89
      • 8 Months Ago
      I have been to the Ferrari factory and museum near Modena. It's great to see all the Ferrari workers pour out for lunch. They all wear a standard Ferrari uniform that looks clean and classy. I have seen the same professionalism at the BMW factories I've visited in Spartanburg and Munich and of course at the VW "Glass Factory" in Dresden. In regards to the latter, you could EAT OFF THE FLOOR! Add to that the building is like highly sustainable, solar powered, etc. Every GM plant I've seen by comparison looks like a dump. The employees look like slobs. And they produce **** cars. Go figure.
        superchan7
        • 8 Months Ago
        @eptech89
        UAW workers can wear whatever they like, because FREEDOM. These spotless factories carry a completely different work culture where people actually are proud of and respect their jobs, and dress to show it.
          James John
          • 8 Months Ago
          @superchan7
          Yes, freedom to be messy, have a crap work ethic and freedom to slap together cars without care. FREEDOM!
          dadslife83
          • 8 Months Ago
          @superchan7
          Rather than asking for a pay raise when they strike, has the UAW ever asked for a slower production line? More cash and better benes has result in lines where the product goes whizzing by every station. And has resulted in crap cars. As for the slobs on the line, try feeding your family and keeping wardrobe standards on $16 per hour. Minus dues, minus health insurance, minus taxes, minus alimony and child support. Pretty tough.
          superchan7
          • 8 Months Ago
          @superchan7
          Uniforms should be provided by the company, and hygiene rules should be observed. How people dress outside of work with their own money is a different problem.
      knightrider_6
      • 8 Months Ago
      Record profits? but... but... unions are evil, socialist job killers. 'Murika
        SquareFour
        • 8 Months Ago
        @knightrider_6
        We live in some brainwashed times. Not saying I'm a big fan of unions (they've become top-heavy, inept and outmoded), but there appears to be a large percentage in this country who truly believe corporations have our best interests at heart and should be allowed to run roughshod over us and everything else. Profit at the expense of workers is good 'cause it'll trickle down!
        Fazzster
        • 8 Months Ago
        @knightrider_6
        Agreed, it is sad that many American Unions have become evil socialist job killers.
        montoym
        • 8 Months Ago
        @knightrider_6
        When your union has the companies best interests at heart and understands the repercussions of their demands, they can work well with the company. It's when the union has unrealistic demands (especially over several decades) where problems occur. This is something that the UAW just learned (somewhat), after nearly demanding themselves out of a job with the big 3 until a government bailout saved their souls.
      karman876
      • 8 Months Ago
      Compare the photo here to the one from the Corvette plant. http://www.autoblog.com/2014/04/08/uaw-vote-strike-kentucky-corvette-plant/ I'm not going to judge quality by the dress code, but you have to admit that the Ferrari workers look a lot classier.
        SquareFour
        • 8 Months Ago
        @karman876
        I was thinking something similar. Karfreek's comment about the armpit hair on the dash of your $60K sportscar is not only humorous, but pretty spot on as well. It's about professionalism. Uniforms in particular can build a certain professional mindset that often comes through in the finished product. They help tie one into a team dynamic. Plus, they create a definite dividing line between one's work and home lives. I've noticed this time and time again. If you can just schlub your way into work wearing exactly the same get-up you went fishing in over the weekend, work simply becomes just another thing you do rather than your occupation/career. It's an outward symbol of the pride one feels in their job, their team and the products they build. Hell, at the very least, they should all be wearing overalls for safety and cleanliness.
        calitokansas28
        • 8 Months Ago
        @karman876
        I agree, Mary Barra says the dress code is " dress appropriately". As long as they don't wear pajamas and slippers. And get rid of tank tops,unless they don't have air conditioning.
        Daekwan
        • 8 Months Ago
        @karman876
        As with anything in life. "You get, what you pay for." Is it any surprise that the Ferrari workers are in uniform? While the Corvette workers are shorts & tees. The cheapest new Ferrari I can buy costs around $200,000. The cheapest new Corvette I can buy costs around $53,000. I would expect after paying 4X the price of the Corvette.. that the much more expensive Ferrari is A) built with better quality & materials and B) built at some fancy factory by expert, well polished workers in uniform. Regardless of price, the Corvette is still a world class sports car capable of beating the Ferrari in many performance categories. And with the updates to the C7.. the interior and technology now also match the world class performance. One of the ways that GM keeps the Corvette affordable is by spending less on things that budget minded consumers dont really care about. The vast majority of people buying a car.. could really not care less about how the workers who assembled are dressed. But more importantly.. the vast majority of consumers are people like myself who simply cannot afford a $200,000 car even if it Jesus himself dressed in a Brooks Brothers suit building it. What most consumers like myself can afford a $50,000 car. And thats why the Corvette wins in my book. I know what I can afford and I live in reality. Instead of dreaming about a $200,000 car I'll never own.. I'd rather drive a $50,000 car I can own. And I promise you.. if you were to drive a newer Corvette.. the last thing you would be concerned about is what the guy was wearing when he built it. The Corvette experience is THAT good!
        superchan7
        • 8 Months Ago
        @karman876
        I'm a big fan of workplace dress codes. Look at pictures of the two factories; which teams would YOU want to hire? I've never identified with the "wear whatever is allowed" into work. It's a matter of pride and respect that I show to my job, even if I'm at a desk most of the time. And I'm a millennial.
      Richard
      • 8 Months Ago
      What a silly story....everybody knows that no one in Italy works....
      turbomonkey2k
      • 8 Months Ago
      So, for the young employee hired recently the bonus puts him right a new GM employee's base pay.
        jessesrq
        • 8 Months Ago
        @turbomonkey2k
        Thought the same. If the bonus is 20% of base salary, then base salary is only 28,000USD. That may be exclusive of pension and benefits, but still rather low.
          johnnythemoney
          • 8 Months Ago
          @jessesrq
          It's actually lower actually, including pensions and no benefits really.
      Georg
      • 8 Months Ago
      penuts compered to the bonus Porsche payed 2013... pretty sure they will pay this year the same if not more.... 2013 every Porsche employee recived a bonus of 8,111Euro thats today $11,196 for every of its 13,500 employees. Porsche is not allone 2013 bonus payment at German manufactors Audi payed a bouns of 8030Euro (plus a bonus on the pension) BMW payed a bonus of 7630Euro VW payed a bonus of 7200Euro only Mercedes is "unfair" with only 3200Euro
        lasertekk
        • 8 Months Ago
        @Georg
        Whatt are you, a flag waving German nationalist? This is Ferrari, show some respect.
          Georg
          • 8 Months Ago
          @lasertekk
          Ferrari is Fiat it only shows that they are not doing so well in italy... compared to others...
      TonyMitch
      • 8 Months Ago
      You'll never see a company doing this in the U.S. Why?
        montoym
        • 8 Months Ago
        @TonyMitch
        So, you missed this then? http://www.autoblog.com/2014/01/28/ford-reports-increased-profits-2013/ quote - "A record $8,800 on average for 47,000 UAW workers, making 2013 the biggest year for profit sharing in Ford history. In total, $414 million will be paid as part of the profit-sharing scheme." - or this: http://www.autoblog.com/2014/02/06/gm-q4-profits-913-million/ quote - "Profit-sharing checks in the amount of $7,500 will be sent to 48,500 eligible employees, which is up from the $6,750 they received last year." - or this: http://www.autoblog.com/2014/01/06/detroit-three-autoworkers-bonuses/
      AP1_S2K
      • 8 Months Ago
      they still can't buy a Ferrari....Fiat sales might get a spike
      johnnythemoney
      • 8 Months Ago
      You wish a recently hired young employee could get as much as 1.500 € each month (considering also the 13th bonus check at the end of the year which is standard in Italy). More like 1.000 €, other companies pay even less than that.
      Avinash Machado
      • 8 Months Ago
      Kudos Ferrari.
      trafman06
      • 8 Months Ago
      They deserve it. Theyre making faster cars than the guys in the f1 building lol
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