Hello. Can someone explain the STI & the stock situation that Lowell announced, please? To be honest, I’m still a little confused about it. Also, are we (wireless) getting a bonus of some kind on the last Friday of Feb 2018? Thanks in advance everyone.
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STI is not a bonus. According to the company website Verizon believes that we should have a stake in the companys success so they put part of your salary "at risk" could be 10%, 12%. depending how the company performs, they come up with the multiplier, this year it's 93% so your sti is 93% of 10 or 93% of 12% of your salary. It's not extra money that they give you, it's part of your salary that had been withheld. quote from the company website "Verizon believes that a portion of your pay should be tied to the company's overall success. The Short-term Incentive (STI) Plan supports our pay-for-performance philosophy by aligning a percentage of your total compensation with the attainment of annual business goals and individual performance objectives. Short-term incentives encourage a greater focus on superior performance and results".
STI stands for Short Term Incentive. It’s an annul bonus based on the company performance as well your performance and possibly your departments performance. For retail Wireless stores it included the store’s performance. For the most part Wireless employees stopped getting STI a couple of years ago. It was changed to the quarterly NPS bonus which was taken away last year. If you don’t know what STI, you haven’t been with the company that long and you aren’t getting it.
If your STI eligible, you probably know it....or for sure, those around you do.
As posted below, the multiplier was announced earlier this year at 93%. This means that if you get a YE Performing rating, you will get a bonus equal to 9.3% of your annual salary.
Those getting High Performing or leading will get slightly more, those Developing won't.
Your STI is typically your base salary .10 multiplier (.93).
You don't get 25 shares, you get paid out the value of 25 shares January 2019 and 25 more January 2020.
As far as STI, that is an annual bonus paid to certain positions. If your position is STI eligible then it is paid out at the end of February (probably the bonus you are hearing about). On the document you got last year with your performance review it tells you your raise, your STI award, and what next year's STI target for you is. If you see nothing on the document about STI you are in a position that doesn't qualify.
My understanding is that each wireless employee will receive 50 stocks. You will receive 25 next year at this time, and then 25 more the following year.
I don’t know anything about the STI. I’ve been asking around and still haven’t gotten answers. Haven’t heard of any kind of bonus either. Big sigh.