While bonuses can be attractive to employees, they don’t offer the long-term benefits that salary raises do. Many companies have opted to give out bonuses instead of raises, but bonuses are often temporary and can be taxed at a higher rate. A raise, on the other hand, provides consistent benefits over time, impacting factors such as Social Security contributions, retirement benefits, and future wage negotiations.
  

Key Points: 

1. Bonuses, though sometimes generous, are not permanent changes to compensation and can be taken away easily.
2. A raise in salary can positively affect Social Security and retirement benefits, and helps with wage negotiations in future jobs.
3. Bonuses might seem appealing, but they might not always be beneficial for companies in the long run, especially regarding employee retention.
4. The current strong labor market offers employees an advantage in negotiations, making it an ideal time to push for raises instead of one-time bonuses.
5. Workers should consider organizing or joining unions to better advocate for consistent raises rather than sporadic bonuses.

Source: https://www.vox.com/money/23851170/bonus-raise-job-market-work-money