higher or lower than what you guessed?
46 replies (most recent on top)
Higher than expected considering fatalities, would have been much higher if it were not for those. You'll see a lot of shiny cars with paper tags in the garage this spring.
I would much rather get an additional 0.1 or 0.2 in CIP than an additional 1 or 2% in raise. It’s a lot more ! Do the math…
CIP 1.5 celebrating will be short lived when April 1 arrives for most to see no significant salary action. One hand gives while the other takes away.
The new PMP system seems hard wired to minimize high ratings and promotions, especially if you are in a competitive group. Try to get in the worst group you can find.
Why is there even debate about how raises and CIP are calculated and handed out? Shouldn’t it be straightforward and above reproach?
The new PMP system itself isn’t broken—the calculation for determining a supervisor’s pool for salary increases is broken.
Since changing it would increase opex, there’s no incentive for management to change it. It’s just another example of CVX leadership declaring war on the rank and file employees.
Not this millennial. The new PMP has a lot of fluff if you ask me. I enjoyed the numerical ranking system and how it is straight to the point. This PMP is actually more difficult to achieve a good merit increase because you’re trying to make a case for four different categories. It should really be all about delivering results, we are results driven industry and the other three categories will follow.
Pmp is broken???
How come the new system
Is what all the millennial's asked for in tye corp survey didn't like being ranked .now you have it....
I think everyone has realized the new PMP is broken. JJ said “you want to be in the lower portion of your PSG”. That makes ZERO sense. A top performer with 2-3 EE’s will blow past their 100% CO in 2 years. Then what? No money for them fish to their sup other than structure even in they continue to have sustained performance? This seems inaffective in rewarding sustained performance
Former NBL here. The 1.5 is nice…but assuming I’m mid range on my CIP, ultimately the bonus will likely be below what my standard was at NBL.
Bonuses are the opium of the corporate masses.
Heck yes ill be putting back the PBR and upgrading to Miller High Life after this news. Life can't get any better than that!
There is a video on the Intranet that explains all of this. If your at 100% CO and it goes up say 3% then your boss gets that 3% in their budget. Say your at 103 or more currently and structure goes up 3% then no budget is allocated for you. So if all direct reports like that then no budget. Now say in my case I’m at 95% for example my boss will get a total of 8% allocated. Now will I get all of that bribing me 100 nope so my lower grade conworkers who shouldn’t be promoted but been in their position long time so over 103% will contribute nothing but will get a portion of my allocation. Bonus can also be played with to “even things out”. Best case scenario be on a team with several people low in their PSG
IT must be cheaper to give everyone a nice bonus, than watch critical staff leave and try and replace them. Anyway, congratulations and don't spend it all in one place.
@nuc is correct. If every direct report is above 100% CO after the structure increase, then said supervisor has no pool for salary adjustments.
This calculation is in the FAQs on the intranet, and it’s why earlier posters are convinced there’s downward pressure on salaries. This new PD system is more crooked than Hillary
Some of recent posts are misinformed. Raises were bad last year because structure last year was <1%. Not that the system "sucked".
@nuc, that HAS to be wrong. There is a separate structure and merit. A 100% co employee that is a 2 or VC across the board should get structure but no more.
If the poster is correct that even the base raise (structure in addition to merit), coupled with highest inflation in 40 years, you will have REALLY TICKED OFF employees actively looking for greener pastures in a few years.
I think that poster is wrong - it doesn't make sense. Structure increase is structure and the salary tables would follow structure regardless of what the employee co% is.
@nuc are you saying that people may actually move down in CO? I’d there not enough budget to give employees at least structure?
@jys he is saying that the new system gives supervisors budgets for annual raises based on employees %CO. If you have one direct report who is 104% CO and structure increases by 3%, then the employee is 101%CO and still does not contribute to the annual raise budget. The employee would get 0 raise
@tph, you're talking about "Merit" above "Structure". If there is 3% structure, 100% co with all ME rating - old 2 rating should still get whatever the structure increase is, but no additional "merit". If there is 100% co but the employee was 2+ or EEs should go above 100% co. Has been >102% co to get promoted.
CIP was so large he had to call out the negative unexpected impact on the quarterly results. That won’t happen again, but I’ll take it.
Take it to Vega$ and put it all on Red!
@tph i’m with you on my concern of this being the new normal and salaries being kept low. Our upstream vice president did say they would reward sustain performance, but I just don’t see how they can do that when a few years of exceeding expectations in a couple categories will take you to 100% of your competitive objective. Then, if you continue to exceed expectations and sustain performance, they are going to have to promote you or you’re going to be capped out. If they are being more forthcoming with promotions I’m all about it, but in the past it typically takes 3 to 5 years
Higher than I thought but moving forward this will be the new way. Salary will be kept low, just look at how budgets are determined. If you promote up to a 100 then no more budget from them. If your group is all at 100 or over there is simply no money given for salary increase. The bigger bonus will appease a lot of people but don’t forget how much bonus you get is based on your salary which will be slow moving from now on. Also there is no room for growth unless hi pot or fall into another desired category. Normal Joe’s will be capped off on PSG and salary in the new system. Also you might think dang I’m getting huge bonus but your boss might feel he needs take some from you to give to another person who couldn’t get a salary bump.
Very generous at 1.5, all should be pleased.
Honestly you will find out your bonus soon enough. The ranges are published on the HR i tranet site.
The issue is how to find out what the psg range percentage is so that you have an idea of what the bonus will be.
MW delivered his promise to you and me.. despite a tough year, we made it through and everything is getting better
I would much rather get an additional 0.1 or 0.2 in CIP than an additional 1 or 2% in raise. It’s a lot more ! Happy with the 1.5. Thank you Mike Wirth!
definitely higher than what I thought! I was thinking it would be 1.3 on the high end.
@nab+1f4FFqZi why would you get it if you didn’t work in 2021. Logically, think about that….so no, you don’t get the bonus. You have to have eligible earnings in 2021. So if you start end of December in a year but get paid 1/7 then you don’t get it either (this is how it was for me. First paycheck was the first one of that year).
A great outcome for all parties.
There was another thread about structure. Widely reported at 3%. This is known as supervisors did their pay programs in early Jan.
The message is basically "we had a good year, but dont want high raises in case we see a bad one later".
It looks like 2022 will be another good year, which feels good after all the s**** we had to take in 2020 with Transformation.
Higher. Though I’m not a fan of how much control supervisors have
higher than expected CIP could lead to lower than expected structure. any takers on what that might look like? i think it will be 4-4.5…less than inflation due to generous CIP…
Yes 1.5 is a great number! I thouvht 1.2 to 1.3.
If you started in January 2022, you do not receive it. The bonus is prorated for the year in which it was earned. So if you started on Jan 15 2022 you would receive 350/365 of the bonus paid out in 2023. Sorry you missed this year, but it is just the rules.
If I am correct, it's for the following year, so you wouldn't be eligible for March 2022 CIP, but 2023 you would.
Someone correct me if I am wrong please
Quite generous! Love it!!!!!!! I take back all my complaints!
Definitely well deserved after all the employees have been through during transformation and for those who stuck with the company during the mess afterwards. If it's really just a 3% salary program that's pretty rough.
Happy about CIP, but also now concerned scale will only be 2-3%. Oh well, may as well enjoy the good news tonight.
For employees who started in January, this wouldn't really mean much to us right? I assume our bonus will be in March 2023?