Commonwealth Bank Referral Bonus Overview

Commonwealth Bank offers a referral bonus program aimed at encouraging current employees to refer qualified candidates for open positions. This program is particularly beneficial for roles in tech and product, as well as other departments. Below is a detailed overview of how the referral bonus works, with a focus on tech and product roles.

Referral Bonus for Tech/Product Roles

• Eligibility: Referrals can be made by current employees who are not part of the hiring decision process for the referred candidate.
• Bonus Amount: Referral bonuses for tech and product roles can range from AUD 1,500 to AUD 5,000, depending on the role's level and criticality.
  • Junior Level Positions: Approximately AUD 1,500 to AUD 2,000
  • Mid-Level Positions: Approximately AUD 2,500 to AUD 3,500
  • Senior Level Positions: Approximately AUD 4,000 to AUD 5,000
• Payout Structure: The bonus is typically paid out in two installments:
  • The first half is paid once the referred candidate has completed three months of employment.
  • The second half is paid after the candidate has completed six months of employment.

Referral Bonus for Other Roles

While tech and product roles have a higher referral bonus, other roles within the organization also offer a rewarding referral bonus:

• Non-Tech Roles: Referral bonuses for non-tech roles generally range from AUD 1,000 to AUD 3,000.
• Payout Conditions: Similar to tech roles, the bonuses are distributed in installments contingent on the candidate's continued employment.

Additional Considerations

• Multiple Referrals: Employees can refer multiple candidates, and there is no cap on the number of bonuses an employee can earn.
• Internal Process: All referrals must be submitted through the Commonwealth Bank’s internal referral system to be eligible for the bonus.