Thread regarding ExxonMobil Corp. layoffs

Job Offer Advice

I am still an employee but am considering job offers. I am working on a spreadsheet and was curious what others included in their spreadsheets to compare offers. I am just doing various scenarios to retirement. Pension is hardest thing for me to figure out how to value. Any ideas you can share on what you did are appreciated. Thanks in advance.

I am also curious what you negotiated when accepting offers. Thanks.

Background

  • 10+ years with company
  • Ranking top 1/3, upward vector, never received RSUs
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| 2061 views | | 11 replies (last March 5, 2021) | Reply
Post ID: @OP+19HY1cHF

11 replies (most recent on top)

Shell and Chevron emperor are better compensated.

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Post ID: @1ihe+19HY1cHF

She’ll also has equal or better comp.

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Post ID: @veh+19HY1cHF

Make sure you interview them as well. When setting up the interview I strongly recommend a person request additional time to allow them to interview the company as well. Questions from you followed with discussion with the boss and not just answers alone will help you get a true idea of how it is to work there. You need at least 15 minutes. To echo the answer below, a checklist of cultural characteristics can be helpful. Think of open ended questions to help you gauge this.

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Post ID: @rjv+19HY1cHF

XOM vs CVX, CVX wins over a mile in total compensation. CVX has bonus structure for most emps and their base salaries are way more than XOM. And they have pension too that you can add on to as well (company plus emp contribution if desired). And match on 401K. CVX is just one example. COP is leading the pack in some other benefit areas, that's why newbies want to be with COP. And the list goes on and on. What I am saying is that XOM does not provide the best value for your time.

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Post ID: @upg+19HY1cHF

Look at Glassdoor for large companies. I have acquaintances across a good number of the Glassdoor best places to work and it’s generally very accurate for satisfaction. It’s also a good source for salaries and will give you somewhere to start when negotiating.

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Post ID: @tky+19HY1cHF

OP, pensions these days are cash balance-type pensions with very simple formulas. The Summary Plan Descriptions are public information widely available on the internet. You can compare different plans using an assumption of what your average pay may be in today's dollars. Some plans pay by looking back on your career at retirement time. Others may pay a percentage of your gross pay each year that builds up as virtual credits plus interest credits each month. The result is your expected lump sum (the default option).

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Post ID: @uia+19HY1cHF

Make 100% sure you interview with colleagues together and see how they interact. If they have bad energy, run for the hills. Don’t go somewhere and setup yourself up for failure.

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Post ID: @xwl+19HY1cHF

Money should not be the most important aspect. Look for a company that has a good vibe and well being towards its employees.
You can weigh out vacation, compensation, bonus, retirement, and how these increase every year. A lot of companies don’t talk about this, but be sure to ask.
Ask what it means to be excellent there in clear defined terms, run if they something along the lines of keeping every one happy or “pleasing your customer”. If you’re in a technical role as and engineer and your customer is operations ie another manager. This will put you in a bad political situation. I mention this because I have seen it before.
I like to weigh the culture of the different companies as well. Openness, conscientiousness, “can you give me an example of where you helped out an employee who was struggling outside of work”, agreeableness, how laid back or intense they are, how the colleagues vibe with each other...

Try to negotiate where you can buy a week of vacation.

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Post ID: @lus+19HY1cHF

There’s a pension estimation tool on the intranet.

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Post ID: @dvo+19HY1cHF

You’ll never find pension again so you have to be content with leaving it if you want to leave xom. The rsu’s are worthless until you get more senior. I got 4-5 years worth of what equates to 3-4K each vest because of the s—- stock price as I progressed through CL 25-27. Not worth losing sleep over unless you find yourself in higher CL’s with tens of thousands of dollars on the line. Find your values and move to do something meaningful. Or don’t and go down with the rats!

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Post ID: @obd+19HY1cHF

Worked 42 years in a job I hated with a company not worth mentioning. But they had a great pension plan which allowed me to leave with $998k to roll into retirement investment accounts. Now earning about $11k per month off the growth and enjoying every Penney of it.

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Post ID: @itr+19HY1cHF

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