What do you think bonuses are going to be like? Will they do the cuts before or after the bonuses?
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@5gxa: I you don’t know, there is a major acceleration at grade 26, when your compensation begins to raise a lot faster than salary. By grade 28 morr than half your compensation comes from non-salary sources (and I am not even including pension and other indirect compensation). At grade 30 there are other sources of non-salary compensation, but it is above my pay grade to know what they all are.
Wait VPs are $800k base? So what is their all in?
Also what PSG is a VP?
Less than previous times as you have to chip in for the engine
Who cares about bonuses. Will there be good payouts for those of us who want out.
Real savings occur function level 6 and above for career ladder jobs... PSGs can be misleading as ABU PSG 25 = Global PSG 27. I know grad students that have out performed the current managers only to be burnout and quit. Meanwhile talkers not doers are sitting on half a million dollar packages causing irreversible damage with their self serving decisions...yet they will be the decoders of who stays and goes
It is actually kind of hard to get to PSG30 without knowing what you are doing. What is appalling is the severely handicapped people we have in PSG27-29 where is see more than two thirds with poor people and technical skills. Most are simply paper pushers who do nothing more than call meetings and make lists.
Management is making it impossible for anyone coming into the company to make the same amount that they do. By the time new folks get to where the managers are currently, they will be half of what the managers make today! Need to cut managers and replace with people who will do a better job for less money. The managers are over paid for being lazy sacks of sh-t
PSG 30 would be around $500k salary, $300K bonus and $600k stock grants (variable). So roughly $1.4 million annually. A lot depends on the stock performance.
Not a huge number of PSG30 floating around. One or two in each BU plus service groups (CTC, exploration, etc) and HQ staff/advisors/law.
The death by a thousand cuts will continue no large slash and it's over...not this year anyway.
Corp factor...no way MW and board will approve anything higher than 0.5 expect less.
No cuts and less bonus unless you are a higher PSG. It takes at least a year by the time they consider cuts. That is how slow they are. They like the slow cut. Which gives you time.
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@1ysm: At grade 29 stock grants are twice base pay, so at 30 it would be a lot more than that.
@1mrp+1uis7Qt7 everyone bleeds for contractors that get paid more day in day out, but when it's time for layoffs the poor su-kers that have been loyal waiting for their bonuses are just a number on a spreadsheet. Being a contractor is a choice, how many contractors have accepted less money for a blue badge? Let me know, I'll wait...
Grade 30 base will be ~500K. Including stock and bonuses I expect they clear 800-1000K/year.
Sometimes it's safer to be a contractor... Few months after the same names will appear...
This is pretty insensitive given the fact that contractors are likely to be most impacted
What’s a VPs base? Do they really get 800??? Jeez no wonder they just speak platitudes and collect
Bonus will be low, as it is based mostly on stock price increases relative to competitors (and our performance was bottom tier this year). All left standing will get their full bonus for the year. The 26+ folks will get all their past stock grands rolled up (so they will not have to wait for them to vest) but they probably will not get this years allotment if the layoff occurs before February 1.
@1tko, no, you are wrong, I am a VP and my bonus is only ~$550k
VPs - $800k
Bonuses will be generous to cheer up the hapless remaining staff.
Cip will be low, cuts happen as new org will be in place by end of April. Good luck to everyone.
For the PSG25+ types, you know the ones who refuse to acknowledge they've been in charge during all these re orgs, I'm sure they will remain very obscene, I mean fair.