I got my raise and bonus and was VERY pleasantly surprised by the amount! With it being such a tough 2020 for Chevron and the entire oil and gas industry, I would have expected something a lot less, including ZERO. Very fortunate...... I am a long time Chevron employee and will continue to put in my best effort as I feel they treat employees well overall.
What are your thoughts ???
Chief Executive M.K. Wirth's total compensation for the year fell to $29.02 million from $33.07 million in 2019. As part of the compensation package, Wirth's base salary rose to $1.64 million from $1.57 million, the value of option awards grew to $3.88 million from $3.75 million and "all other compensation increased to $842,787 from $422,693, while the value of stock awards fell to $11.25 million from $11.66 million and the change in pension value and nonqualified deferred compensation earnings dropped to $11.41 million from $13.38 million. Also, Wirth didn't receive non-equity incentive plan compensation in 2020 after receiving $2.28 million in 2019. Included in all other compensation is a one-time $499,485 for perimeter and physical security enhancements as part of new home construction.
i had a 5.9% raise. not sure why, but i am already 4 years into my psg but still had not reached 100% CO. Anyone can shed light on how many years will it take to reach 100% CO?
No, the earnings component of the CIP is normalized for price effects. No benefit if prices are higher than forecast and no ding if they are lower. TSR is not part of the CIP.
@8rih+, not true. At higher oil prices, Chevron as a whole is more profitable allowing for greater TSR.. thus some impact to CIP. If Chevron had been more profitable last year, the Corp factor would have been greater than 0.75. Again, very grateful if what we got but looking forward to even a bigger bonus next year. 😃
The bonus is not tied to oil prices in any way.
Just got the direct deposit for CIP bonuses on Friday. While not as big as before, certainly a LOT bigger than what I expected. With Brent prices going up, hoping for a bigger one next year !!!!
Enjoy it while you can. Most oil professional salaries are still mirroring $100 oil. At some point, Chevron (and all oil companies) are going to have to deflate salaries rather than increase them, to match decreasing demand. Right now the strategy is to cut jobs, so that the aggregate salary is going down. Be thankful we all still have jobs!
So a side from those promoted, who got the biggest raise? Post your raise percent and rating. I was max rating and 3.7%.
Right-o, we can discuss anything here. My favorite, spinners!
It’s also a place for people who were let go to troll and post anonymously to stir it up wherever they can. It’s too funny.
Not sure what you mean about this being a children's chat site but it sure seems like it. There are plenty of sites to discuss work-related topics for the computer literate, including the Chevron one. I understand that's not everyone here, so for them, there's the layoffs forum, which is quite fitting for those about to be $hit-canned, which is most people posting here, lol!
The Layoff Lady must busy all day policing the Reddit boards to keep everyone on her preferred topic, without contributing anything. No w9nder she got canned...
@3bfz, Does anyone here really give a ratz a$$? All you really have to do is stay in your lane and go with the flow. Do not make waves and do not rise up. You will be fine!
For all those who keep stating the mantra "Isn't this a layoff site?"; where have you been for the last several years? The posters here can discuss anything they wish with reason. Moderators of this site will delete threads or posts from time to time when people get too personal or harsh. But geez ladies and gentlemen its an Open Forum, get over it.
When?
Is this a layoff board or a board for those annoying people with the motivational golf course posters to spew out their words of wisdom to us who just got laid off? I’ve heard enough Tony Robbins wannabes lecture us to last me until 2022!
Do you have any empathy? This is a layoff message board so surely you realize a lot of people who read this have recently been laid off. If you got a great raise or bonus, why not keep that to yourself? Or ask your co-workers on a different CVX message board (not layoff related)? I guess some trolls get a thrill out of rubbing salt in the wound.
Considering how 2020 went I'm very pleased. At least we didn't get our 401k matches taken away like another company.
When you consider the success factor applied to the Performance stock that just vested, 2021 is way better than 2020.
Buy stonks
I got an infinite raise hourly as I will work zero hours in 2021 but net more annual income than 2020 when you add it all up. Sweet.
Not sure what you mean. I was laid off. This is the layoffs website, isn't it, how could I have gotten a raise?
Yeah inflation is about 1% but you pay tax also on any income so say you get 3000$ raise, ~25% is gone right away due to tax, that leaves you with 2250, or about 1.2 % a over inflation, nothing seriously impactful but better than nothing.
@kxy, Why don’t you take a good look at yourself in the mirror? Your first statement is accepted, but you show your true colors in the last paragraph. It’s truly sad that after 30 years with Chevron, they didn’t jettison you in this last layoff and keep a more deserving person.
Winning in any environment!
I had a very good PMP, but the raise was modest way less than in previous years..... I believe there was no salary action this year. That is the ranges for each PSG were frozen as is the case in previous years like 2016 following a major layoff. So if you got a raise you moved along your PSG towards the 100% CO, but that CO was frozen. As far as CIP yeah like everyone else 75% of would it would have been on an average year. Counting the blessings thous. I wasn’t expecting anything at all.
Inflation was 1% so anything more than that is great.
The raise was very modest and at most 3% almost offsetting inflation. The bonus was ok. As long as you have a job in 2020 and made it into 2021 consider yourself lucky.
Quite a few people I know got a raise when you combine a new job, Texas unemployment, the severance and the 2020 bonus. Huge money!!
This is a layoff site ? All I see are posts about employees whining about things wrong with the company ....
Even if you were laid off last year you are still elibilge for the bonus. Not sure about the raise however.
Why are you talking about bonuses and raises on a layoff site? Your lack of empathy and insensitivity is right on target with your peers at this dreadful company.
Correct - the higher you go the more they depend on bonus. It is all they talk about amongst themselves in the early part of the year.
I’ve been with Chevron for over 30 years. Yes, I’ve experienced times of zero raises (3 times). But I’ve also experience times of FANTASTIC raises and surprisingly large bonuses. While not a slave to the company, like most others, I do work really hard during the times I’m supposed to work... thus I feel I’ve been fairly treated. Extremely grateful.
For those that were let go or haven’t had good raises or bonuses, go take a look in the mirror and reflect on yourself. If you were your supervisor, would you want you on your team ? I suggest you stop whining and work to your best ability during the times you’re supposed to work.
Glad it was good, and while yes easy to harp about this or that, but thanksgiving for above average employer pay and benefits is a good practice...in my 30~ years, only once did I not get a pay increase and that was due to frozen salary action for one year following large layoffs; many jobs and others I know in different fields/company don't have that luxury.
@pll, What? Leaders can’t survive on just salary? Total BS. Leadership has nothing to do with living lavishly or expensively. Don’t be an id–t.
What was corporate factor?
Bonus will always be high as it is most of the compensation for leaders. They can’t survive on just salary. Bonus gets them caught up on their bills every year.
I’m sure your raise wasn’t as good as the $300 a week in extra unemployment (insert sarcasm an led eye rolling)
I thought it was mediocre. Better than a sharp stick in the eye.