I've been here for nearly two decades. At one point I thought I'd retire here as well but I'm no longer certain of that so I started looking for new opportunities. However, any place that will even give me the time of day offers me a pay that is mildly put insulting. Is this really all I can look forward to at my age? I was worried before, but now my stress levels are in overdrive.
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Moving to a new positions every 2-5 years, turns you more into a generalist away from a specialist. It is very hard to find a position outside EM with generalist skills.
Quite a few people left for higher salaries. Don’t get discouraged.
Long story short from the comments: it's not your age per se, but a combination of age + skills + role you're applying for + market forces?
Specialization is needed to secure similarly paid jobs. In EM, one can coast along for a very long time without specializing in any particular area while contractors do the specialized jobs. Unfortunately, one competes with those contractors when he/she is applying for a job in the open market. So the disappointment is anything but guaranteed.
I would think if you have 20 years of experience here, your best bet for getting a similar pay to what you currently have would be to become a consultant in your area of expertise.
If you can give more details it’ll help, but couple initial thoughts:
- No, I’ve definitely seen contractors here with 20 years of experience jump around for higher pay, but they were non-Exxon.
- The market tends to value expertise in an area rather than the variety of assignments we have here.
- What function are you in or what skills do you have? I’d say many roles here are overpaid (esp if you were Hipo) compared to the market so you might just be getting put at the standard.
- Don’t forget about any bonus or RSU, it’s not uncommon to give employees lower base pay but make up for it with those other two.
Currently, it is an employer’s market because there are a lot of unemployed oil company employees. Each job advertised gets 50-100 applications and the employer can pick the best without overpaying.
What type of role are you in at ExxonMobil?
Yeah, remember that it took awhile to get where you are. It's pretty rare for anyone to bring on a new hire at top-of-the-scale, "trusted company veteran" status pay unless the need is immediate and dire.
Also, depending on your skills and how you've kept current, your skillset may simply be worth a bit less now. The pendulum swings back and forth. You don't notice it with a company you're with for a very long time, since they aren't generally cutting your wages when the market rate drops. But you sure see it when you go on the hunt.
Nah, too many unknown factors, e.g. industry, company and job you're applying for. And I'm assuming you're a generalist. How did you sell your 20 years of EM-specific skillset and experience? What makes you more valuable than a fresh grade of similar education background? Everyone everywhere is trying to cut cost. All I can gather so far is you've been very loyal to EM but that wouldn't amount to much to a prospective employer.
Expect to take a 20% pay cut.
You've got twenty years of experience in your current job and zero years of experience for a new job. The world doesn't let XOM drill anymore with state owned enterprises, so the name of the game is layoffs and cost cuts, and legacy infrastructure is vastly inefficient with all the progress made in the last 20 years. What is offered is what the market is offering, and lifetime employment ended for most 50 years ago. Full-time employment is increasingly becoming a thing of the past as companies increasingly outsource and use contractors and vendors for all aspects of business. Welcome to the 21st century.