Mercedes-Benz will be granting employees a record bonus of €7,300 following a stellar year for the automotive brand.

“In recognition of this performance, we have agreed together with the General Works Council that we will pay a special bonus of €7,300 this year,” said Sabine Kohleisen, member of the board of management of Mercedes-Benz Group AG responsible for HR.

Around 93,000 eligible tariff-scale employees in Germany will receive the bonus along with their April 2023 pay, according to the company.

The bonus is higher than the €6,000 payment received by employees last year under the profit-sharing scheme. It is also significantly above the previous maximum payment cap of €6,465.

The company’s profit-sharing program has been in place for over 25 years, but this year is the record-breaker for the employee bonus.

The company’s profit-sharing scheme has been in place since 1997. This year, Mercedes-Benz management and the General Works Council will implement a new system for the scheme’s calculation.

“The calculation logic used for tariff-scale employees will be aligned with the existing system for the management,” the company said.

“Going forward, the extent to which all employee groups are able to share in the company’s success will therefore depend even more on the company’s target achievement level and on the systematic implementation of its sustainable corporate strategy.”

Mercedes-Benz joins a growing list of employers granting massive bonuses to employees following a bright performance in 2022. In Asia, container shipping company Evergreen Marine extended year-end bonuses worth up to 52 months’ pay. Refining company Hyundai Oilbank also granted employees bonuses worth up to 1,000% of their base salaries.