Do any new level 2 hires get stock and/or a pension? Is compensation limited to salary and bonus only?
17 replies (most recent on top)
"They stopped giving pensions around '01 or '02. Maybe a new hire at L3 or L4+ received a pension longer, i.e., 2015??"
Nope. They stopped giving them in 2015. I was hired as an L2 management in 2014 and received a manged cash balance pension.
“You might want to consider the dividends you're forfeiting, not to mention the fees you're paying, when you move the match. The T stock dividend is $0.28 / share per qtr. Why not contribute your 6% to other funds, let the match go to T stock, and reinvest the dividends you earn back into T to build volume for its hopeful rebound. Just sayin..”
I don’t hold stock I don’t believe in, rule 101 of investing.
I have 0 faith in Stankey and co to turn the stock around and the dividend is peanuts compared to how low the stock could go. If I held T since I started working here it would be worth a fraction of what that money has turned into now.
I got NVDA and a few other tech stocks after the 2023 fall, I doubled my 401k from 2023-2024.
Trust me, selling was the right move.
To the person who said the following about the 401k match.
"it works out to ~$1000 in match a month if I max it out and I just immediately sell the stock and buy something else."
You might want to consider the dividends you're forfeiting, not to mention the fees you're paying, when you move the match. The T stock dividend is $0.28 / share per qtr. Why not contribute your 6% to other funds, let the match go to T stock, and reinvest the dividends you earn back into T to build volume for its hopeful rebound. Just sayin..
They stopped giving pensions around '01 or '02. Maybe a new hire at L3 or L4+ received a pension longer, i.e., 2015??
80 - 100% match on a 6% contribution is common, especially for a large company such as att. Generous in the sense that they don't have to match at all but not so generous as a standard.
Stock options are only good if you have growth. Att conveniently stopped giving options when T stock started falling from $50s to the $30s which was probably in the mid to late '00s.
I left in '18. My 1st post att employer had less than 100 employees. Their overall compensation package was as good as att's. Their salary was better, bonus was less, and medical equal.
I now work for an employer of equal size to att, and their compensation package blows T out of the water. Truly eye opening! Salary morphs att, %% bonus / "team award" is twice att's, and medical is equally robust. They also include a lucrative stock based retention plan.
Many years ago we did. I got options at a level one before. Of course, they were offered when the stock price was high so I was never able to use them. But no not any more.
“The stock match is actually pretty decent, it evens out (at least for me) to about 7%.
It’s 150% up to 3% and 100% the next 3 up to 6%. Not sure if everyone else gets the same but it works out to ~$1000 in match a month if I max it out and I just immediately sell the stock and buy something else.”
As much we (rightly) complain about a lot of things here, the 401k match is generous. I think the most I have had at other places including large companies is a total of 3-4%. As long as you move the money out of the AT&T stock fund quickly, it really starts to add up.
I have received connection awards the last three years. They are supposed to reward good work in a more timely manner than an end of year bonus but it can take a long time to get them. It’s a nice thought but they don’t work in practice the way we were told they were supposed to work,
No and no.
No pension any longer. Stock options are L3 and up. It’s a job if you need a job; otherwise, yeah look elsewhere. This place used to be great to work for, not anymore.
“As others have said, new employees stopped getting pensions in 2015. There is a 401K company match. Level 2's do not get stock options, as far as I know. I am a L2 and never have received stock. There is something called a "connection award" which is kind of a secret bonus that you can receive- I don't know if that is still available or not. I would say that AT&T lags behind many of the larger tech-oriented companies when it comes to compensation packages. That, plus the constant gloom and doom of impending layoffs (which has been going on for what seems forever) being asked to move to different hubs and all of that stuff- I'd avoid AT&T if a potential new hire.”
Correct, I’d avoid working at T as a new hire if possible, look into other options.
Connection Awards are still around, they’re harder to get and you have to work towards them and really try and stand out as they’re given out by your director and they have a limited amount. I got one last year, but it was a lot of work. I know people who get them regularly and they’re usually on very visible work. It tends to be more about visibility vs quality of work or performance.
The stock match is actually pretty decent, it evens out (at least for me) to about 7%.
It’s 150% up to 3% and 100% the next 3 up to 6%. Not sure if everyone else gets the same but it works out to ~$1000 in match a month if I max it out and I just immediately sell the stock and buy something else.
As others have said, new employees stopped getting pensions in 2015. There is a 401K company match. Level 2's do not get stock options, as far as I know. I am a L2 and never have received stock. There is something called a "connection award" which is kind of a secret bonus that you can receive- I don't know if that is still available or not. I would say that AT&T lags behind many of the larger tech-oriented companies when it comes to compensation packages. That, plus the constant gloom and doom of impending layoffs (which has been going on for what seems forever) being asked to move to different hubs and all of that stuff- I'd avoid AT&T if a potential new hire.
Stock grants or Stock OPTIONS?
I retired with unexercised options with strike price in the low to upper $50's & had to hold them for 2 or 3 yrs before they could be exercised. I'm sure Ed Head & his C Suite mushrooms had theirs repriced but not us common slaves.
They used these "valuable" options in lieu of raises. What a clown show action.
We got blued, s----ed & tattooed on that "benefit".
No. Garbage benefits
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its actually 80% of 6%
You do get retention bonus if you are high performer. Hard to get but happens.
All employees should get same benefits the officer team gets. Equal playing field.
New hire man agent employees topped getting pensions in 2015. Instead, they get a full match of 5% in their 401k. It's very similar to to the 80% match of 5% that pension-eligible manafement employees get. In short, compensation is much worse for management employees hired in the past 9 years. Which is why they expect the pension-eligible managers to do a lot more of the work.
Base salary + bonus only for level 2.
You don’t get RSU’s and stock grants til 3.
No one gets pensions anymore as far as I’m aware.