Any idea how much the Board of Directors award him if he cut the $1.3B in losses (in ‘22) to half or break even?
Asking for a friend who’s also a member.
6 replies (most recent on top)
I think WP’s salary adjustment in 2023 was actually higher than $4.8m.
If you read the San Antonio Express article, only WP’s salaries from “five USAA companies that report pay to Nebraska are United Services Automobile Association, USAA Life Insurance Co., USAA General Indemnity Co., USAA Casualty Insurance Co. and Garrison Property and Casualty Insurance Co.”
This begs the question as to how much does the Bank pay WP?
If you factor in WP’s Bank salary then you have a detailed and accurate account of his total base salary exceeding $4.8m without bonus payouts, which is very likely he received.
WP secured the bag here: increase in base pay and bonus payouts after USAA’s biggest financial loss in 100 years and along with thousands of layoffs
WP’s salary-gate reminds me of LinkedIn’s CEO Jeff Weiner who, after the company’s financial loss, declined his annual shares payout, so it would be reallocated to employees.
“Jeff decided to ask the Compensation Committee to forego his annual equity grant, and to instead put those shares back in the pool for LinkedIn employees,” a LinkedIn spokesperson said in an emailed statement to Reuters.
If losses are projected to be higher, that only means that Wayne’s World and his execs are the only ones getting extreme bonuses :(
There’s a very good chance the losses this year will be enormous. If you’re sticking around for the annual bonus…don’t. There may not be one.
the limit does not exist
But he’s not going to cut losses, or break even. This year will be worse than last.
Easy. If he cuts the losses in half, he will get a 314% raise (157x2). And us the employees? Instead of 20 lashes and no raise, it will be 18 lashes and... no raise.