I’ve received 5 excellence awards in the last 6 years… these come with a nice letter and to be able to claim a monetary amount on T&E. I’ve been in the top third each year too albeit last year I got dropped to ‘good’…I have received minimal pay rises, 1-2% each year. Whooopie doo…when you consider inflation!! Plus record $$$ performance for the GBU
Apparently I’m above my salary reference to have a substantial pay rise…. Each year I’m overlooked a CL increase, in fact I don’t know who and why it is blocked. I’ve coached and watched others get CL above mine.
I’m afraid it’ll be another year of carrot and stick… so time for a change!
8 replies (most recent on top)
You're on your way down to NSI! Congrats. Hope your 55+
@1xzn+1eDHVIpY
You need to pick a better timeframe for the stock price argument. Close was in the 90s in 2013, it’s in the 60s today. There aren’t many timeframes in which XOM would not have been outperformed by SPY or any other index. If that isn’t the definition of average, I don’t know what is.
Regardless, my argument is that for most professions at XOM, the big league is elsewhere.
Are you in IT? Join tech and double your salary immediately.
Are you in management? Join McKinsey, become a partner, and then jump to any one of these sinking ships to become a CEO (but you’ll have to start actually working your bu-t off for this track).
Are you a lawyer? In finance? … The list goes on and on. Yes, maybe if you are a petro engineer, etc., this is the big league. But I’m sorry, when it comes to comparable talent that isn’t industry-specific, then this is not a good place to be in anymore.
If the whole industry goes down, you’re going down with it. Why would you choose to do that?
Here’s another line of thought: since you seem to care about the market, how much do you think the market values you as a resource? How many headhunters are contacting you in a given month? Do you have the feeling people are looking at XOM for talent? Most employers won’t touch an XOM employee these days with a ten foot pole.
People like to confuse correlation with causation. XOM’s success in the past had little to do with its employees. It’s a commodity company. Just because the stock price is up that doesn’t mean you, I, or anyone there did a good job.
There’s probably still a big league for analog photography, too, which Kodak employees are now in. I wouldn’t be too proud of that though. Most XOM “skills” are already obsolete.
Leave OP its time to move on
OP
I am in the same circumstance without any real monetary side awards. At least you have a supervisor who cares!
@1son+1eDHVIpY
You’ve got to be kidding. Maybe you haven’t looked at the EM stock price in the last eight years.
If EM would have done just as good as Chevron has in these eight years (already much worse than the rest of the stock market), our stock would be $120 today.
Just in case you missed it, it hovers around $60.
Even our management has repeatedly shown the graphs of the two stock prices normalized for 2013 and then ours dropping well below Chevron. I guess you missed those meetings.
@1pgu Not disagreeing with you, but if EM isn’t the big leagues for O&G, who is?
I’m not saying that EM is good (it’s not), but it is big. Peer companies also aren’t run any better; it’s like Coke and Pepsi (I’ve personally never tasted any difference between the two).
Sorry to hear, but not surprising. You’re excellent when compared to the average, low-performing XOM employee. You cannot expect to be paid top of the market for that. It’s like someone being the star of the little league expecting to get a New York Mets salary. I’m saying this so clearly because I was in the same situation.
If you want to get a proper raise, you’ll have to join the big leagues. If you prove yourself there, the money and raises will all come by themselves. If you don’t, you’ll continue to be the one-eyed in the country of the blind. It’s better than nothing, but you won’t have much bargaining power.
The awards start to feel like a consolation prize.