EM base pay with benefits is above the competition even when considering other companies variable pay. Long term this means the salary curves and promotion frequency must be reduced. Do not expect pay raises for 3 to 5 years and virtually all promotions will be deferred except for the very highest performers. This happened in the mid-1980s and late 1990s, and will happen again. When oil prices turnaround in 2025 or so, attrition will be high because EM is usually slow to recognize the change in market value of EM employees. Many will get hired away by smaller companies. This has always caused the boom bust cycle in employment
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Ah true narcissism, go to a lay-off board to brag about your pay increase. I’m sure it’s real because it’s the perfect example of what Exxon promotes now.
Guess that’s more proof of how ranking went. Politics
@1fbs+16HR8qPL I wouldn’t brag about a pay increase.. the fact that you got one this late in the year means that you were poorly performing in previous years. Also, with the state of the company as it is, it likely means you got shafted in what pay raise you could have received if you got it in Jan/Feb (prior to the lockdowns). I could only assume it is SIGNIFICANTLY less and will not be made up from this last cycles performance... so... don’t brag about how you severely missed out.
@1fbs+16HR8qPL your raise was associated with prior years performance. Considering that you are getting it this late in the year, it would mean you weren't ranked very well in previous years.
I suggest cutting salaries by 50% and remove pension option or anyone involved with (mis) management. This should be the starting point and then we can start discussing cost cutting measures.
Well guess what, I just got a pay increase that goes into effect Sept 1st. Was I expecting it? Not at all. Do I feel a little bad? A little. Will I take it? Hell yeah. Btw, I ranked Outstanding if that makes a difference. Helps with the 7% cut we are getting Oct 1st.
It is true that 10 years ago - a CL26 would make as much as a Federal Judge US.
10 years ago, this company ruled the world. ruled on the world.
Seasons pass.
Shell had a few that were higher. I think it’s all comparable for oil and gas but outside of the O&G industry the right skill set can make more.
I am on the trading side, I can disagree whole heartedly that EM Pays more than outside. I actually took a small pay cut to join EM 2 years ago from trading company to get some refinery experience, so happy to leave and go back to a “Normal” trading company to receive free insurance and bonus again.
“ EM base pay with benefits is above the competition”
LOL
For the working people in technical or specialized roles the salaries are below average slightly because competitors and other companies value the technical track more. The manager and supervisor role some are way above average. Those functions wouldn’t meet the experience required other place and don’t have expertise in much, so trying to find another job somewhere with no specific experience for more than 2 years is challenging and salaries are currently inflated.
Tomlinson at the Chronicle has written about why the old-timers’ “cycle” explanation is deeply flawed.
What we are experiencing is more like what happened to Big Coal than the mid 80s, late 90s.
https://www.houstonchronicle.com/business/article/Oil-companies-following-in-coal-s-footsteps-15523416.php
I would say they are roughly comparable. Can you give more quantitative evidence?
They are comparable.