Remember the Pay for Performance statement? Them were the days! You could see well in advance your AIP and the date it was being deposited. At this point so far into February, I am not even sure we are getting AIP this year. And no, trolls, I am not betting the farm on AIP or planning on a single cent. I just realized we had not received it yet and in the good old days we always had it first week of February. RIP Pay for Performance statement, I made fun of you at the time, but now I realize you were actually good transparency. Don't even get me started on the olden era of quarterly profit sharing. I am still going down with this ship, but have to marvel nearly daily how Good to Great has gone from Great to Ghastly.
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@qv What I remember it was actually profit sharing with Desi. Employees got their salary as usual, no % held until the following year. If the company exceed expectations, profits were shared with employees. The spirit, structure, and name of the profit sharing changed with McNerny. It went from a true bonus or profit sharing to a portion of your salary. So with the switch employees saw a pay decrease since X% of pay was held from paychecks until March of the following year. That's when we had the great fortune to receive AIP. 😏
@fd I believe Desi started the “profit sharing” (or fixed pay removal) in the late 90s. I believe it became AIP some time in the McNerney or Buckley regimes. There is a cap but no minimum, of course.
@f7 I believe the switch to straight pay to lower pay raises and quarterly "profit sharing" was under Desi in the 1990s. Certain years it was pretty good. Other years not good at all. But nothing could beat getting more base pay every year and adding on to the raise with more annual raises. Was McNerney the guy who switched it to annual - meaning you'd wait 12 months to get what you used to get in smaller buckets every 3 months - and 3M pocketed the interest saved by making people wait months.
BB makes thing sound so wonderful on quarterly earnings calls but then even a year when the stock price soared almost 2X the AIP was only 100-120%???? I guess BB's message to employees is you did "OK" and should be happy that he's sharing some of the bo--y with peons.
At his townhalls, does he even answer questions about restoring Everyday Wins and Service Dinners?
@OP I remember the days when we had zero variable pay. Then they took some of the fixed pay away and made it variable. That angered everyone of course. They called it “profit sharing” at that time. Somehow it later became known as AIP, likely when 3M decided they wouldn’t share the profits every quarter, but would withhold your pay for 12 months and only pay it out annually. As you can see, the changes were never made to benefit the employee, only the employer.
@cn
Union walked out with 3.5% and don't have any performance for pay BS.
3M is a toxic workplace.
The P4P increment for this year is a miserable 2+%. Guess BB is saving to.prop up the 3M shares further.
@ax
This is what our manager told us too. The 26th.
For the past few years, AIP had been paid out at the end of February
P4P statements are supposed to come out mid-March so that you know what your paycheck will be as of April.
The P4P and AIP statements will be combined this year. I think they’re visible in Workday to supervisors on the 26th
We have never had the aip statement available the first week of February. It’s always the third week. And the actual deposit has either been 4 days before the end of the month or 4 days after the end of the month. I’ve kept track for 16 years so I can plan for my 13th check.
You can complain about not getting quarterly updates, but even that was not always visible. It was only the last five or so years that we had that visibility. Roman gave us the tools to see it quarterly.
@OP In the past there were two statements, AIP and P4P. As a supervisor in 2025, I generated the AIP statements in mid/late Feb. P4P which shows AIP and annual salary review was generated in late March/early April. In 2024, AIP statements were generated mid-February and P4P in early April. In 2026 it’s rumored that these will be combined into one which probably means splitting the difference as far as timing goes.
P4P was discussed in a recent town hall. It'll be issued end of Feb to your supervisor. AIP pays out by mid-March.
Last year, it was deposited on the last day of February.