I was thinking why all the RE folks are still hanging around working, when they could retire and do other things? I thought about this and came up with the following reasons - let me know if I’ve missed any
A. Working is the actually the most interesting thing they can do at this point
B. Money, just more of it
E. They like punishment
Hear*
@7kbd+1u1zIN6o Dang. Sorry to here that your parents and inlaws did not have money saved for retirement and also you have no siblings to help care for them.
Four parents assisted living healthcare expenses averaging $42,000 a month. That is over $500k per year. Personal choice to ensure the parents are fed,bathd, and receive medication. Bunch of fxcktards questioning why I choose to work. Succ my duck you d-mbaxx that think you get to understand my financial drivers.
Unanticipated and debilitating familial health issues.
A mark, a yen, a buck or a pound
A buck or a yen
A buck or a pound.
Is all that makes the world go around
That clinking, clanking sound
Can make the world go 'round
55 is usually the earliest you can retire from exxon. That is 15 years service at age 55. 60 is better for lump sum. The longer you work years service the more you will get. Formula is salary x years service x .016. Look it up for yourselves. When you leave is entirely your choice. No one should advise anyone as when to retire here. Make the choice on your own and based on your financial needs and status. I hope everyone makes it to retirement and gets to enjoy many years of relaxation. Is that not what we have worked so long and hard for. Good luck to everyone and to the younger folks as they will need more luck and time to make it to the end. I know many retirees and they are enjoying themselves immensely. I have a group of old exxon friends waiting for me to retire so I can join them eat lunch with them.
Why are y'all so obsessed with us? We don't waste time thinking about you at all.
@4qfi Name two disruptive technologies that you’ve perfected using in the workplace after the age of 55. If you can’t do so without making something up, then it’s time to leave to leave the workforce.
I just want to know who was the MF told people that 55 is the time to retire? I have not seen any statistic showing the 55 is the edge of retirement. If somebody shows the table , the board have not seen it.
@3xtp That’s not of concern to your employer or coworkers.
It’s up to you to plan your retirement. If you’re still working at age 67 then you’ve obviously planned poorly. That’s your problem.
@3fer Another non-sequitur.
Read this. It may help plug some of the gaps in your logic:
https://www.merriam-webster.com/dictionary/non%20sequitur
Retirement eligibles hang around because a financial advisor will tell you that you will always have more money in retirement if you are able to continue working until age 67 in the United States.
You also want to retire when the lump sum pension interest rate in the United States is at its lowest which means that your lump sum pension will be maximum.
If money is #1 in retirement, then it will determine how long you should hang around even if your manager and his/her manager make your life miserable for the last few years.
NRE cannot leave as they are "Near Retirement Eligible"
RE is "Retirement Eligible"
There was a day long ago where we did care about the company vs the money. It was a win-win to be part of something like that.
Declined the whole way for 40 years.
(Perhaps I was naive. But it all worked out barely)
1xgg+1u1zIN6o
Age hater! Race too?
@OP First off the correct title is NRE. RE means RESERVOIR ENGINEER! Secondly, why would you have disdain and judgemental for people you know nothing about their personal lives. You have no idea who may have encountered tragedy within the families or helped other loved ones. I am tempted to bring your obvious flaws to everyone's attention but I think you have covered your disdain for older people pretty well! Remember, one day you will be older too and if the present economic trajectory continues you will likely be a homeless serf picking veggies for the GLOBAL ELITEST!!
When XOM took us over, it didn't take long to realize that they didn't need me (or at least thought they didn't need me). Especially once they "delayed" (read, canceled) the projects I was working on. I stayed until I was about to be officially on the XOM payroll, then tendered my resignation. Best thing I ever did.
Sure, it would've been nice to have the money had I tried to stay another 2 years and "milk" the system. But it turned out I didn't "need" the money (only "wanted" it). So now I am able to pursue music full time.
https://davidpennybaker.hearnow.com/
I've even got a song about life in the oil patch!
https://www.youtube.com/watch?v=IEXEAayl2jY
As an RE here I am no coemption to any younger employee. I try my best to help them not make the same mistakes I did. They are arrogant and do not want to receive help. The young ones see it as an insult to take advice and would rather struggle and learn the hard way. Remember we oldies are not ranked high and it does us no good to hurt anyone because we are done. I hate the fact that the eager young ones all think they will ascend to Darren woods ranks. Some have tried to make me look bad and that pi---d me off. I a meeting they were all talking and trying to impress the boss. I spoke about something that was missed and they all turned against me. We the old can leave and work for others that need our experience or just retire and live off our money. The young ones shun me and I don't really interact with them. I will probably get piped because I am not engaging with them enough. Just my two cents for what it is worth.
yes money pure and simple. Who would show up for no pay and the treatment we get. who would show up if they cut our salaries in half. If the dropped my pay by ten percent I would leave. Money money. It works both ways as exxon is looking to save money by getting rid of the higher paid oldies. Further the are getting rid of high paid americans and replacing with BTCs. So yes it is all about money otherwise we would be volunteering g for this work and exxon would not be closing high cost sites. So this is the reality the oldeies will stay un till they can not take it anymore. Exxon will continue to push out high paid individuals and move to low cost centers.
Yeah, OP, you’ve really nailed it: the REs are the biggest obstacle for your “career” at EM. Keep thinking like that, you’re a winner.
Money, period
Any other answers are BS.
Ask you this simple question: would you show up to work in lieu of a paycheck?
Preach on brothers. Fight a good fight to the end.
@1lnh Non-sequitur.
Kudos to everyone here who’s owned their uselessness and fessed-up to milking the situation for all that it’s worth. I have more respect for that than the glorified dunces who see themselves as the second coming of Jesus Christ for editing purchasing specs.
Did exxon delete my nepotism and favoritism post? It is gone now. I was flagged for suspicious behavior. I don't believe older workers want to slack off. They have just been beaten down so long they give up. If you tell someone they are no good they will become that. It is learned helplessness. We are rats in the experiment being conditioned. I am only here for the cheese not the kool aid. i think the kool aid is poisoned.
@ @1zoc+1u1zIN6o okay enjoy your years left at EM. You should start looking for a house in Bangalore
@1tif There’s nothing to be jealous of.
@ 1xgg+1u1zIN6o guess your jealous?
Recently retired, got NI and promptly took retirement. Manager tried to talk me in to staying, but, I took the hint. If you tell me I svck then I leave, no problem
Most of the replies on this thread make an excellent business case for the PIP.
You’re all admitting what everyone already knows: not only are you absorbing a large salary and adding little to no value, but you see yourselves as being uniquely entitled to continue absorbing a large salary without adding value. You’re basically admitting that you’re less productive on purpose. That’s fine, but don’t whine about age discrimination when your ranking tanks because you’ve checked-out.
@1wme You bvtt hurt bro?
Good, good……let the bvtt hurt flow through you……
https://imgflip.com/i/4204i2
RE: I get paid to do nothing, don’t come in the office much. Life is good.
Thanks DW
I love seeing the REs pushing the limits of slacking off. I used to question why the older people were disconnected and did not work hard. I was told one day I would be dropped and understand the demotivating. I understand now and I don't blame the oldies. There are a few oldies t hat are just cruising to retirement and I don't blame them. I am trying to cruise but the a hoke supervisor keeps pushing my a-s. I need a hiding spot. I wish I could get lost for a few years in a refinery or Chem plant. I could get lost in the jungles of gyanna for a few years.
There were a few employees that worked from home for a few years. If anyone finds a spot let us short timers know.
It’s the math stupid. Working that extra three or four years doubles what you get to spend in retirement. Many think of that in terms of how much you can help your struggling kids and their young families. Nothing unique here to Exxon. It’s just math.
I like watching train wrecks and insects cannibalize each other.
Only reason I stick around.
Thanks, op. You're a big part of the show.
I worked at another chemical and refining company based in the middle east. We had older experienced workers from all other companies. Retired and piped exxon, shell, sunoco,dow, dupont, and everyone else. The experienced workers were appreciated. I learned a lot from these workers. All of them said the same thing about exxon dow and she'll.the unfair ranking and favoritism. So there are other opportunities out there. Workers want to be used to their full potential not buried in bureaucracy. At this company engineers and chemist actually got to do engineering and research. Technicians were able to build and test new units. It was the largest oil company in the world. The money is good at exxon but the work and people su-k.
“Don’t need the money”
LOL I could almost smell the BS through the screen I read that on @mdt
At least you admitted that you took a pay cut to stay employed. Most of the other REs make up stories about getting 200% pay increases and infinite benefits. There’s a reason why salaries are flat around H-Town, and it ain’t because REs are jumping ship for big pay bumps. Keep dreaming fruitcakes.
@1cfv For those of you wondering why Exxon has a PIP…..this is why 👇
Because I hate losing especially when it is because Darren's bad business decision. I am going to milk this dead cow until I die just to increase his "structural costs" as much as I can.
I know what kept some of them here. Imagine if you started at 14k a year and now you are near 200k. They always said i have never made so much money and it was hard to leave because of this. The other problem is going from say 300k a year to 160k a year. They were used to spending as they wished buying cars cash, taking several vacations a year and just buying things. It was hard for them to imagine living on less money. In reality all of them retired and adjusted their spending to their new annual payout. Some are scared to leave like prison as they are used to the routine. Even if it is bad treatment or low ranking they are used to it. Many REs can leave but there are some who need to stay. It is a personal choice of how much cr-p you will take and when you have had enough.
Retired and working for smaller company at less pay. Don't need the money, but it's a hoot to be de man on so many subjects and really make a difference to them. Nice to be genuinely appreciated and enjoy my day with decent people
“Heard he’s going to start charging for parking at the campus”
Don’t give these MFs any ideas.