I used to be told XOM pays the most and that you could get a 6% to 8% raise every year. Is that true? I joined and have not seen that. Also, what’s the typical salary range at Exxon for someone with 6 to 7 years experience? I think I may even be underpaid. I have gotten offers and they are all over the place. From higher to lower.
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ExxonMobil 20 years from now.
Promote that.
Many of these posts are based on past performance. It is important to realize we are a dying company in a dying industry. If you think we can pivot just think about Blockbuster video and how well they pivoted when Netflix emerged. Our best days are behind us. For the past 15 years employee benefits have been reduced year over year. Think about if this trend continues where will we be in 5, 10, 15 years vs other options in industries that are growing or improving their total remuneration package. If you have higher offers elsewhere you’d be smart to leave.
I think it helps to think about how raises are calculated. At its simplest your raise has 2 parts.
Part 1 comes from the movement of you salary bracket. This is calculated by comparing EM salary brackets with other companies in your country or region.
Part 2 comes from your progression through the salary bracket to your salary reference. I.e. when you get promoted you are normally about 10-15% be!ow your salary reference so in the years after a promotion you get a part 1 increase + part 2 increase until you get to your reference. Then you basically get only part 1 until your next promotion.
Your objective across your career is to get a series of promotions so you keep getting the part 2 increases.
Typically people who are not getting promoted can get paid better it they leave, and people who are getting promoted get paid better if they stay.
Look honestly at yourself and your work group. What job do you honestly expect to be in 20 years from now and how many promotions does that represent? If you expect 4 promotions over your career you should leave. If you expect 6 it makes sense to stay. If you expect 8+ you'd be crazy to leave.
I sincerely hope those raise expectations ARE sarcasm!!!! 😁
@1ybj+1d0ZHdFH Correct about the math, and nice sarcasm there on the raises, Well done.
I'd go with that last post - 18% or you just wasted a couple career years.
Raises will need to be high based on no raises last year, loss of 401k for a year, and higher inflation. Raises should have been at least 3% last year, loss of 401k for a year is loss of 7%, inflation is 5%, and a 3% raise this year means raises need to be at least 18% just to get back to even. Exxon wants to retain employees so raises will likely be higher than 18% during next year’s one-year contract.
If you even think you are underpaid, you are!
Based on your post - with all of its details - you're getting what?
Less than 200K.
Move on.
If you get a better offer, leave.
With so much attrition at the chemical and F&L sites there is a high chance they will give better than anticipated raises to help keep people around. Heard this from a reliable source (DH)
Another greedy focker is onboard EM gravy train.
OP welcome. Your greed for money amidst a toxic culture is well positioned. You fit right in. We must bring you to UIS so you don’t feel left out.
The best indication of your market value is the offers you say you’ve received. If some are higher and some are lower I’d say it means your current pay is similar to market average.
This year most can expect to see a sub 5% increase, but we’ll know more next week. Hot Shots can only see that kind of raise if they move on.
Thing of the past. Move on.