UAW workers getting$10,750, what does that mean for salary workers? Do salary workers get profit sharing or it just bonus?
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So to figure out how much you get it's a percentage based on GM as a whole, multiplied by a percentage based on your performance as an individual, and that's the percentage you will get of your TARGET payout.
Your target pay out is based on your level, and once your a high enough level, the rules get weird and it's negotiated as part of your contract or follows some other rules I guess, I don't know.
I am a level 5, and the past two years my target has been 10% of my total year income, and each year my personal percentage was 100% based on my performance.
In 2016 the company was at 168%, so do the math, I got 16.8% of my pay check
(I was hired this year in June, so it was prorated by how many days I worked in 2016)
In 2017 the company was at 100% (to keep moral up, otherwise it would have been lower)
In 2018 I hear it is 95%
I was told by a manager that was there since at least 2014 that 2016 was by far the highest he ever saw it. (Wish I would have started earlier in the year)
A bonus is extra. Any bonus, whatever the amount may be, is always good. 2 years ago I believe the TeamGM bonus was around ~150% (RARELY happens). Last year was 100% and this year (considering that GM is making these cuts) is 95% which is also very good. Like most people employed at GM, I was not expecting a bonus at all so the 95% is a silver lining.
According to GM stated formula, bonus should be 105%. Funny accounting, isn't it?
Do any of the people asking these questions actually work for GM?
Is 95% good? What was it the last couple of years? I don't know how to judge if better or not.
The 95% value was provided via a video on Socrates with the CFO summarizing the 2018 financial results.
When are they going to release the updated TCJ.
"What if someone didn't start working for GM until May? They get half for the 6 months they worked in 2018?" Yes. It is pro-rated.
where did you get 95%?
What if someone didn't start working for GM until May? They get half for the 6 months they worked in 2018?
Payout for salary is at 95% of plan. That should be paid out to any salary employees that were affected.
salary get teamgm which is profit sharing based on profits, job perf,