Are You Satisfied With Your VCIP?

For me and several colleagues, the consensus was disappointment. Last year the company implied that changes were being made so high performers would receive greater VCIP and stock awards than in the past. We hoped these changes would overcome the fact that our raises have been pathetic for years and Success Share was ended last year. This was not the case.

Last year, our CEO’s comp was $6.2MM, of which 8.1% was salary and 91% was bonuses and stock options. Employees on the other hand receive a relatively tiny fraction in bonus and stocks. During Garland’s tenure as CEO 2012-2022 his total compensation was $201,157,000, averaging $20MM per year.

If the average salary of an employee is $150,000, ML makes 106 times the average employee.

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28 replies (most recent on top)

As a field employee, where safety is a reality. Glad to see the office employees no longer receive compensation based on safety record. Those paper cuts can ki-l your VCIP!

What was the general payout percent?

I would complete the survey so @managerhere doesn’t dilute the dataset with his kind words and impressive full vacuum for upper management. Since he is obviously keen on getting that 1!

I encourage every P66 employee not to fill out the employee surveys! Why? So, that they don’t twist your feed back into cutting profit sharing.

I”ve been around a long time. In my experience, about 80% of the 1’s and 2’s are completely arbitrarily given to the biggest su-k a-s.

Hey manager. Go back to work. You are almost to 60 hrs for this week already. Stay off these forums.

Define big table please. One day you’ll get ranked. Hopefully it won’t be too hot for you and your 1 ranked cronies. lol

Manager here again-

I sit in those rating sessions. They are more fair and balanced than everyone wants to think.

You might find yourself with a 1 or a 2 if you stop being a malcontent so convinced that the system is rigged against you that you and that you’re the smartest person in the room.

Sit down with your manager and ask for direct feedback on why you’re not getting a 1 or a 2. May just be that you su-k after all.

Hey manager…. You clearly dont see the 1’s and 2’s as the popularity contest it is… maybe youll get invited to sit at the big table one day and see how ridiculous it is during rank and ratings

Manager here again-

Why rotate 1s and 2s? It’s not a participation trophy. It’s a acknowledgement of hard work, creating value and performing above expectations.

If you don’t know anyone getting a 1 or a 2, time to consider the company you’re keeping.

It’s hilarious to see the low rate 3-5s come on here demanding 1-2s. You all su-k and are lucky to have a job.

Manager here. Number of 1s and 2s same as any other year. No reduction in total number.

Think about big g and lil mark. They have no life. That money doesn’t buy them anything useful as a decent human. Walk on boy.

While COP payout was lower on a percentage basis (130%), they have higher base salaries, higher VCIP targets, higher merit (base 4.5%, starting March 1), base RSUs, discretionary 401k (akin to success shares), more flexible work schedules, and management who aren’t sc-mbags.

P66 isn’t the worst place to work by far, but COP is well ahead of us.

Guys, get a grip. Our payout was fantastic and much above COP and other energy companies out there that I have heard of. I think CVX paid out at 120 and COP around 130. I for one am thankful. Show some fu?!ing gratitude when it is deserved

How has the commercial bonus program changed? What is the payout range on that?

As a sweeny employee kinda blows lol

I am in the Commercial bonus program so a little different. Given the paltry raise last year, the company clawed it back by cutting bonus. In simple words a pay cut.

Being a humble member of P66's Finance team, I can't wait to see what next year's payout will look like. Oh, wait.....

Bring back Success Share! Y’all’s VICP payout didn’t make us whole! Stop piling on work and give a damn about the people who make it possible for you to own a private jet fleet!

You do know it’s all mckensies initiative. They squeeze every sector.

You know the 1 and 2’s are saved for the @ss kissers. They aren’t on here for obvious reasons.

I did hear there's another round of re-org, and presumably layoffs, coming this year.

Maybe we should cut more jobs? Then the profits from the cut backs will surely go to VICP payouts.

Life if too short to put up with this nonsense. I am outta here!

161% is better than a sharp poke in the eye, but yeah, lots of threes all around.

Poor rankings to save costs? Lots of discussion about decreased ratings to avoid individual payouts and reduce VCIP. Most haven’t heard of any ratings higher than a 3. Surely they are somewhere, but where?

Disappointment is all I’ve heard all day and night. The efforts to pay and reward definitely are not reaching the masses.

What was the % of target this year?

Thread regarding Phillips 66 layoffs

Are You Satisfied With Your VCIP?

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