Anyone care to share their thoughts on the over/under for the CIP corp factor for this year. I’m thinking 1.3…
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A structure raise of 3% when inflation has been running 6%+, a CIP of 1.1x and an imminent return to the office are getting 2022 off to a bang-up start. Perhaps MW can sell us to XOM or CNOC to really make it a banner year.
- 6 would be great. Hard to believe though.
I got it on good authority (3 independent sources, incl. one in hr) that it will be 1.6
- 6, Chevron is doing exactly what they need to do relative to peers.
Structure better be more than 3%. Inflation is highest in 39 years. That is all over the news. It won't be as high as the 7% inflation, but better be in 4-5% range.
Structure will be 3.5 and will be 1.1
Guess of 1.2 to 1.3. If you do a regression vs Brent this is what you will find. Remember they adjusted the PSG bonus ranges up about 7 years ago so you have to only look at that timeperiod.
Heard it was .9
Here's the situation - Chevron is now in a definite downward corporate direction, whether you give it 10 years or 30 years. Petrotechs, particularly those exploration oriented, are in much less demand and thus grossly overpaid moving forward. PEs are in a technical sweet spot and will continued to be valued. FEs will all be outsourced, they practically are now. Non-technical support staff will be paid at scale similar to other industries (that is, less than Chevron pays now). Chevron finds itself in a position where they need to dampen salaries (and at some point, if not already, start decreasing starting salaries). What all this means is bonuses will be 'big', but your salary will stall. Less-than-inflation action is one way to effectively lower salaries.
When raises (which impact your long-term pay and pension) are lackluster, management always 'ups' the corporate factor a little bit, and instructs managers to tell their staff, 'look, the raise wasn't much, but look at the bonus!' (I've heard that same line from several managers over the years.) The corporation is still financially skimping (and will always be under MW), so I would expect 1.1 with lots of smokescreen and hoopla over how good it is considering we were in a pandemic year and the future is uncertain.
@1lcu+1eKeUHmK If true it once again shows how badly out of touch MW is:
#1 We all had to deal with managements transformation nightmare and the chaos afterwards. We stuck through it and kept working.
#2 Many of us have worked more at home since there are fewer people and higher workloads.
#3 MW is a darling of Wall Street with people like Cramer drooling over him. When that happens it means he's very bad for employees as he really just doesn't care.
We really need a new CEO that cares about more than the shareholders.
Sorry “structure” is based on industry comps not inflation.
And salaries for petrotechs have not moved higher yet. The company will suffer attrition in support functions but they don’t care about that.
I have heard that 3% represents the WFH discount as MW considers people worked at least 10% less (no commute, etc) so the pay per hour rose considerably.
Only 3% structure?? Is that for real? That is a "normal" inflation year structure. Inflation was 6% this year, and we got next to nothing last year. Many people are getting inflation raises both inside and outside the industry. worked. 3% structure would be a kick in the teeth given how hard many CVX people worked last year, with us earning less in 2022 real dollars.
“ Board voted in early November for 1.5”
Yeah right, structure is 3%. Going by that I say CIP is 1.1
It would be great to have a good raise for the employees as we have been through a lot with the company. I have a bad feeling the dividend will take up CIP funds.
Possibly a case of Busch but more likely a six pack of Natural Ice. If MW is really generous we might get Bud light. More than likely the CP for the dividend raise is 10.0
My guess is 1.25. Any news if the annual "structure" raise will keep up with inflation? Heard XOM is getting a big raise.
Board voted in early November for 1.5 based on a number of factors. Not sure if anything has changed since then so expect that unless they decide to increase it some due to inflation factors.
- 9 so we can raise dividend again instead of paying employees more.
- 2
Good earnings but poor safety year
MW is cheap though - 1.2 max
Based on oil price, stock price, earnings, low capex/open, and all the cne projects announced it better be 1.5. Look back to 2010-2014 when we had comparable earnings. CIP was always 1.2-2.0.
I wish it would be that high. My guess: 1.1