Hey - Experienced hire interviewing -2 questions
- What’s CIP - my understanding from HR is it’s multiplying factor on my monthly that I get as bonus. Is that taxable ?
- How many stocks will I get, is restriction how many years?
18 replies (most recent on top)
@1soh, promotion in 5 years is more realistic than 2-3; if you were that close they would have given you psg 26 already. Keep working on your resume, if you don't get that psg promotion in a reasonable time, you're golden to go to another company. Chevron's mistake is they didn't put any "hook" into you (such as a management position, retention bonus or enhanced vacation/retirement points), so you're free to leave whenever you see that Chevron doesn't value you. You are in control of the game, not Chevron.
“ get promoted (said 2-3 years), I will get stocks”
25 to 26 is the toughest jump at chevron. Typical technical careers end at 25 or 26.
Close to midpoint of 25, seems OK
If you are joining CTC, then you are underpaid for that PSG
Thank you. Negotiated PSG.
Now PSG 25, $255,000 and as I understand 25% CIP, no stock. Only if
I get promoted (said 2-3 years), I will get stocks.
Take it from someone "who has been there", if you're an experienced hire, you'd be negotiating psg rather than individual items, as psg dictates current and future salary range, thus has much more long-term effect (pension, SS). Secondarily you're negotiating for more vacation or a retention bonus, maybe enhanced retirement benefit points if you're within 10 years of retirement.
If you're an "experienced hire" who has to ask about bonuses and stock options, you aren't very good. Are you a diversity hire?
@1ykx bonus percentage ranges are standardized across PSGs. From there, individual and company components factor into your final bonus amount each year.
If you had an official offer, you would know your bonus percentage range and PSG.
This su-ks. I haven’t been communicated any bonus, they said could be 20%. WTF. Is Bonus part of my package ?📦
If you have not signed on the bottom line....DONT....unless there is absolutely another element out there for you.
Company is seriously toxic 😒...
stocks are for psg 23+ and 20% high performers only. newbies get nothing.
That 5% reduction means 5% cuts and 5% layoff of the workforce.
Multiply your bonus * 0.95, you're getting a 5% reduction.
So this year’s .95 CIP means you’ll get an additional 95% of whatever your performance based bonus is. Do I have this right, Jeffery?
All income is taxable, including bonuses. Just like other places, once a year employees get a bonus based on both their performance and the company performance. Company performance is a multiplier on whatever bonus you've earned based on your performance.
A wise man
It doesnt matter. Its in the past now.
Great questions for your recruiter and/or HR rep, not a forum of disgruntled ex-employees and trolls, don't you think? Or is this part of the paralyzing fear that young people these days feel over (GASP) talking to a real person?