Bono vs. prima
While both bono and prima can translate to "bonus" or involve extra money, they function differently in business and daily life. Broadly speaking, bono usually refers to a voucher, a financial bond, or a performance incentive, while prima refers to an insurance premium or a specific extra payment added to a salary.
Bono
B1The word bono is very versatile. In finance, it refers to a bond (debt instrument). In retail and daily life, it refers to a voucher, coupon, or a prepaid pass (like for transportation). In a corporate context, it is a bonus tied to performance or productivity results.
La empresa le dio un bono por su excelente desempeño.
(The company gave him a bonus for his excellent performance.)
Compré un bono de diez viajes para el metro.
(I bought a ten-trip pass for the subway.)
El gobierno emitió bonos para financiar la deuda.
(The government issued bonds to finance the debt.)
Tengo un bono de descuento para esa tienda de ropa.
(I have a discount voucher for that clothing store.)
Los empleados esperan su bono de Navidad en diciembre.
(The employees expect their Christmas bonus in December.)
Prima
B2The word prima generally translates to "premium" or a supplemental payment. It is used for the fee paid for insurance coverage. In employment, it refers to extra pay distinct from the base salary, such as holiday pay, hazard pay, or a signing bonus.
Tengo que pagar la prima del seguro de mi coche.
(I have to pay my car insurance premium.)
En Colombia, la prima de servicios se paga dos veces al año.
(In Colombia, the service bonus is paid twice a year.)
Los trabajadores recibieron una prima por peligrosidad.
(The workers received a hazard pay bonus.)
El futbolista cobró una prima millonaria por su fichaje.
(The soccer player charged a millionaire signing bonus for his transfer.)
La prima de vacaciones ayuda mucho con los gastos del viaje.
(The vacation bonus helps a lot with trip expenses.)
Summary
Use bono when referring to redeemable vouchers, transportation passes, investment bonds, or productivity incentives. Use prima when discussing insurance payments, contractual salary supplements (like holiday pay), or hazard pay.