Anyone in or formerly in HR who can shed light on the benchmarking studies VPs are always referencing to say our benefits are competitive or we are overpaid and that VPs are underpaid?
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I don't think that's apples to apples to say a friend went to Shell and the pay was the same. You have a negotiation power when going to a company (while still employed) that is implicitly understood by the hiring company: they need to at least match, and most often significantly better your current compensation. Most people also don't move laterally in those situations, so they're applying for higher levels of positions at Company B. Because your friend was able to fetch the same deal at Shell some time ago does not mean that the average compensation of his EM position is the same as the average compensation of the equivalent position at Shell.
Talk to people who have left for yourself. Xom is not the top dog. A friend left xom and went to shell. The pay was the same.
There is also things that money cannot buy such as happiness, job satisfaction, and a future. There are also opportunity costs. If you stay at a company that has proven to not support you, you just may giving up opportunities for advancement and more pay at other companies.
Funny how you chose to do the ranking just like EM. Quintiles eh?
I do an informal personal salary survey every year or so. Basically look at where I would go if I was fired or had a supervisor push me too far. It is liberating to have a backup plan and gives you the ability to stay true to yourself. It also helps you keep up skills that others are looking for. Like others I hadn’t left because I was satisfied with my position. I’ve worked at other companies and everywhere you go there is something people don’t like.
May be some are over paid for the time being. Last time I shopped around (prior covid), I did find some companies offer better pay. Didn't leave because of the retirement. I think that is one of the most powerful allure the company has for employees over 10 years of service.
For younger folks it should be a no brainer, given the 401K status.
Shop around your resume. I’ll bet you won’t leave because most other places have lower or similar offers. You can’t call ExxonMobils comp uncompetitive
There is a salary survey that many companies contribute data by job level, salary, variable pay and benefits. Then the jobs are studied to assess comparable jobs levels across companies. Then the age and performance attributes are put in and compared. Survey is done every 2 or 3 years and includes all major oil companies, Petro chem and IT and accounting companies, and engineering. and international companies. This salary survey is is silent which companies provided the data, but XOM knows its own data and can determine over paid or underpaid.
All the useless studies.. too many useless T2 managers that serve no purpose apart from doing business with themselves.. many in chemicals
Just got an offer from another oil company that amounts to a 20% raise for doing the exact same job I'm doing now. I think the "benchmarking" could use some work.