HR is working up new pay curves for LCS. As LCS is dependent on government handouts of taxpayer money it won’t be nearly as profitable as base business. As such pay curves for LCS will be adjusted down much like downstream pay curves are lower than upstream.
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Many in LCS are on borrow from the other divisions. Even high ranking managers. They’ll get paid according to their home division and job family.
No way LCS is getting an alternate ranking distribution. Agree on comment that SSHE had been ranked lower for years so that other groups can rank high.
@2ewa+1jvlbJ9D I suppose it is a good thing if all the HiPos are going to LCS so they don’t sc--w up the base business which is still paying all the bills.
So many sponsored HiPos on LCS they probably trying to create a higher pay curve.
Also, for such groups the required RG average in ranking will be far above 50 (similar to Dev Plng) such that groups like SHE average pushed down near 40 to make corp wide average 50.
@1yuj+1jvlbJ9D The most accurate model of reality I've ever seen! 😭
@1ulg+1jvlbJ9D Wrong again. Biden doesn’t have the power to tax anything, but congress certainly has the power to pass legislation (Inflation Reduction Act) full of pork earmarked as handouts to large corporations. I hope you’re not eligible to vote.
If LCS employees aren’t paid less than upstream employees how do we justify lower pay for chemicals and refining? LCS should definitely pay their employees less. Be careful what you wish for woke mob.
So LCS to receive tax subsidies and then Biden will take it back as windfall profit tax? Ha! That’s a business model. Zero sum game.
@zvk+1jvlbJ9D You are absolutely wrong! EM is set to receive $billions of taxpayer (American) government subsidies for their CCS Ponzi scheme, all the while sending jobs overseas to develop US oil fields.
Sad but true. @1yuj+1jvlbJ9D
Love the competency rating scale.
LCS will pay according to the following scale:
Level 1 - never heard about carbon. Sequestration but got in the boat anyways
Level 2 - took a LinkedIn class in carbon sequestration (aka expert)
Level 3 - has managed any other o&g business to the ground (eg losing billions in Brazil) but can spin a tall tale
Level 4 - was brought in from outside to pretend this sham is for real, startup and all.
Sounds like contracty talk. Need to kick back, OP.
Governmental subsidies are for the startups and mid-sized companies with better image than XOM. Biden wants to tax traditional O&G companies, not hand out money to them. LCS is simply a cost and a PR scheme.
HR will spend millions creating new lower curves.
Easy answer-put LCS on Downstream curve.
Problem solved.
There are waaay more qualified people who should be in LCS, but not. By qualified, I mean those who really care about the company, the environment and people. And experienced experts who have the expertise to really move things forward. Instead, it became a hiding place for rotten individuals who leeches off others while leaving a trail of destruction. Its also a training ground for more yes-men and yes-women who, until recently, had no clue what low carbon or GHG means.
Pay curve should be against industry standards. By the looks of things, most of the clueless bozos hiding there doesn't measure up to industry standards.
LCS is new star in the Company full of hipos. If anything salary treatment will be better
Government subsidies worked pretty well for Elon Musk and Tesla, which is worth around $250B more than XOM right now
OP is correct. Entering business such as LCS that are less profitable will drive employee compensation down further
It's not a load of cr-p at all. But you are correct, roles and CL levels are managed, and they are managed with downward pressure on pay. Different functions have different rates of pay increases. LCS being a non-core, purely ESG effort, that does not generate revenue, is at the bottom of the pay raise scale. Wait till December and you're 1% raise, then you will have a different target for what is a "load of cr-p." :)
Load of cr-p. Pay curves unchanged. Roles and CL levels managed