Hi, I’m considering leaving Chevron and noticed some employees wait until after April 2. I’ve heard this relates to dividends being credited to retirement accounts. Is that accurate, and does anyone know why that date is significant?"
8 replies (most recent on top)
@a8 not exactly correct but close enough. You have to be on active payroll (i.e. still an active employee) when CIP is paid. So yes, being on payroll in April will get you CIP since it is planned to be paid on the March 7 paycheck for US employees.
@cv underrated comment
April first they think you were just joking
The job market is atrocious right now and the foreseeable future! It’s very difficult to get an interview and the process is not like before where experience and referrals mattered.
With all the mergers and consolidation less companies and a ton of exceptional talent out there looking for jobs.
Hang in there. Chevron can’t grow organically so more purchases are needed to keep RRR. Reorganizing is a given in the next 36 months. Work, save, and prepare for a challenging time ahead.
CIP is pro-rated to what days you worked during the CIP year. I took payout in October and got 9 months of CIP payout.
April 1 is when most people bail out as the stock benefits from the years vest on that day.
Hope you already found another job. If not, stick to his job until you actually sign a contract for another job. AI is taking over many jobs and interviews are getting more and more difficult. Check out all those people posting on youtube regarding how difficult the interviews are these day due to AI. You need experience with AI for your next job. Good Luck!
@a1 exactly, and zip CIP if you leave before April 1.
25% CIP in 2027
@OP