Anyone know what the basic multiplier is for salary increase and bonus? With the new PMP system, if you get “exceeds” or “valuable” or “expects more”? What does it translate to in $$?
16 replies (most recent on top)
For laid off people or you mean people who were laid off then rehired?
I am very concerned about the new method for giving merit increases. I have heard that if your team has members over 100% of their competitive objective, then they are not given any funds to allocate for that person. This would mean they have to really be creative to give out raises. I don’t understand how this method benefits employees at all, in the past you could still get decent raises all the way up to 120% of your competitive objective. I feel like the new system works against employees. I have also heard that your rankings are not directly related to your merit increases
You can’t make the scene if you ain’t got the green!
It’s all just a continue “wallpaper” of the bottom line, whoever the boss favors gets the green!! They continue to get a “new decorator but again, it’s the same old wall!
It might be managers discretion, but if anything like the past we are talking small beans: A few % up or down from the base equation. Promotion is the only thing that really matters.
For the upcoming layoffs or the last round? I'm not sure what you're getting at or it's relevance here on the layoffs boards.
Maybe each supervisor should throw all his direct reports into an arena, gladiator style, and toss a sword into the sand. The victorious one gets the highest raise.
@pbz. That method may make sense if all your reports are of the same psg. In my case, my reports range from PSG 21 to 24, so weighting equally would be unfair to the higher PSGs. I dont get why we do an evaluation, where you get 4 ratings and then need again to do another round to distribute the money. I would prefer if after giving the ranking results the system spits a number based on a formula.
@tkd. The bonus % USED to be how you describe it. Now is a range again to manager discretion.
Your bonus % is fixed by PSG. Your salary increase is a complex calculation related to 1) structural changes, 2) your CO%, 3) your rating and 4) whatever your boss does to tweak the result.
I know of a CVX manager who said he can do whatever he wants.
Agree the new system is whack. Very subjective. No cross calibration like the previous system. Mostly depends on your supervisors perception of you. Its a bad system. The compensation is also completely up to your supervisor. They can follow HRs arbitrary recommendations or do whatever they like.
The new system is whack. As a supervisor, you have a budget. The tool recommends the baseline increase for every employee based on how they ranked. But the recommendations never align with HR’s “guidance.” So I just weighted my budget across my direct reports mathematically, based on how many “exceeds” they got.
- 2
I think the OP is asking about the Paygrade multiplier portion of the CIP bonus formula. The multiplier is the last in the formula equation, which bumps up the final bonus amount. It starts with PSG19 and is higher with those employees in the PSG30 pay group.
No multiplier. It is 100% managers discretion. The system will provide a range and based on what I saw last year it is pretty wide. Comes down to how the supervisor wants to allocate the budget allocated to him.