Thread regarding Chevron Corp. layoffs

got all 1s and got around a 10% raise (and was high % of psg level). It really depends on your EOY ratings.
It's weird that there's no transparency in compensation compared to our peers.

I only got 1.6% in 2021 with two exceeding, two valuables. seems quite strange, my CO is not even 100%

10% raise here with PSG promo

@rfq, street prices when going to purchase a home or car have well exceeded the general 7% inflation. While painful, CVX does not structure to inflation. It benchmarks competitors. Except in industry downturns, CVX has structured at or marginally above inflation - that did not happen this year. Keeping inflation LOW will help O&G employees wanting to comfortably retire. Hyperinflation will hurt us, as other industries will overtake us in compensation growth and lower our relative standard of living.

it depends on CO%. if you got good ratings and are low in CO, then it's possible to see 7-10% raise this cycle. if you got good ratings and are over 100%, then it's possible that you only got 3%. new system, new terminology, but the underlying calculations are pretty much the same old sh ! t. On average, I gave my organization a 5-6% raise, which takes into account those with 7% and those with just 2-3%.

Some people think these companies are charities and “owe” employees huge raises all the time. It’s all about supply and demand…. Quite simple. If not happy, leave and go establish a company that gives out huge raises all the time…. :-()

OP, with 15 years to go, you're much better off to grin and bear it, stay where you are and build your pension, which ultimately will be worth much more to you in retirement than a few more dollars switching companies. The days of big raises when switching companies are gone, and Chevron is no nirvana.

I am a supervisor. Last year I handed out average 3% raises (some more some less) and this year my average is more like 5%. It depends. We definitely didn’t do 0% last year. We are also paying out 150% of folks bonus targets this year. Sounds like chevron is better off than shell.

It’s a business. Chevron, She’ll, and others are trying to run a business. The slowing down of pay increases is to control profits. This allows for the companies to hold on to the investors. Remember you are an employee who is replaceable.

its better to be holding cvx shares than being an employee
dividend increase is higher than employee wage increase

@rfq, so everybody is supposed to be at the same stage in life than you. What about younger professionals that have not bought that house and locked the loan? The house price will continue to oncease, but not the salary?
Go read a book.

Dry holes galore in GOM, Mexico, Brazil, Africa and elsewhere.

Did you want to know what the layoff candidates here think? They don't know much and what they do post is mostly false, so good luck with using this site as a source of information.

The inflation is on dsy to dsy purchases not on hou mortgage payments or car loan. So to expect 7% adjustment for yojr salary to compensate the inflation is not logical nor data driven.

Calcjlate your monthly grocery and utility bills and the 12 month difference compared to last year would be less than $2000, and thag is the 1 to 3% salary adjustement you will get depending on gour base salary.

Oil and Gas went from needing great talent (and paying for it) to needing great assets. We do not drill dry holes anymore because of technology. If your in finance or business development you should be fine. If not....get out.

I would say your chances of making to retirement are some what challenged. The main reason for this is the political climate for hydrocarbons is hugely negative in the western world. The other issue facing oil and gas companies is that it is getting more and more difficult to replace reserves, meaning most companies are now in harvest mode. Investment capital has left the oil and gas space. Who knows, you might get lucky and make it to retirement for a number of reasons. If I were in you shoes I would continue making the big paycheck at Shell and start making plans for a second career.

Depends on performance level and position in salary grade. Tables went up ~1% last year and will go up ~3% this year. Better than nothing but less than inflation.

Seems like the entire industry. We had a salary program last year, and “high” performers received 3-4% or so. There have been some threads around here that say we can expect similar raises this year. We’ll find out during the second half of February.

Chevron benchmarks salaries for comparable jobs and experience levels against industry competitors, so we all will be moving at snail pace below-inflation raises going forward.

The entire industry seems to be colluding on these flattening labor costs. Makes for higher profits!

Well…we are talking about Shell!

OP, Just get out of O&G if you have the skill set and find a job in a growth industry.
The best days of O&G were in the past.

Our numbers for the rank and file should be known in next couple weeks.