Am I the only one planning to leave unless raises are HUGE? I can put up with a lot of the money os right.
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3% to 4% will be the average, but in reality that means NI get nothing, Good will get 1%, Very good will get 1.5% to 2%, and you’ll end up with the top quintile getting 7%+. Throw in 5% for a CL bump and there will be a fair number of people getting well over 10%.
Now, an extra $20k isn’t going to solve your or the companies problems, so if you’re unhappy it’s time to start looking. Booming economy right now.
3-4% is all you’re getting. So might as well start interviewing hotshots
12% raise for OWD. No raise for ni, nsi
No. Have you looked at the stock price lately? We’re not tracking with oil price. A huge raise? You can’t be serious. Manage your expectations. A raise, yes. A “huge” raise? No.
If CL30 are making 700k.... They are PIPing the wrong people.
Highly ranked manager here. I want to walk out if the raise is not at least 20%.
The problem is I don’t know how marketable my skills are.
My skills:
- attending endless meetings and making inane comments so people know I am there
- rushing up and down the hallway at office so people think I am busy
- taking credit for work that my team members do
- suck up to my superiors
- post and comment on yammer
- recent skill…. Be a company cheerleader on LinkedIn
I left a few months ago filling expecting raises to be big. I had 10+ years of experience and had always been in the top quint.
I was a CL 27 making about $190k per year and took a $20k pay cut to move to Eastern Tennessee and couldn’t be happier with my decision.
The two questions i’d ask myself are “If Exxon let me work remotely full time, would I stay in Houston”, and then “Do I love Exxon so much that it’s worth staying put”.
We didn’t dislike Houston per se, but this country has SOOOOO many better places to live. Exxon used to overpay employees to make it more attractive. Now, generally, they pay right around market rate. The cost of going somewhere else isn’t as much as you might think.
Me me me
@1zrg+1d9uPF4Z: How do you feel about the CL 30 receiving $700k+ in incentives and bonus on top of his salary each year?
He doesn’t care that much about the size of his annual salary increase. The real goodies come at the end of the year.
There is a reason executives suddenly seem so cheery in December. The holiday spirit? Peace on earth and goodwill to everyone? H_ll no! It’s the money, money, money! 💰💰💰
I am perfectly OK with an average salary of 3% if the company confirms that this is also the average increase for those CL 30 and higher
After last year, I dont think I could deal with only a 3% raise. At that level, and especially when you factor in the unreplaced 401k match, you’re clearly losing to inflation. If it’s 3% or less, I will start actively looking.
I want my 30% or I walk out. Non negotiable.
Its interesting seeing people "threatening" to leave. Most of you are not as employable in outside industries as you think you are, especially not at the salaries you were being paid before.
This is an industry in decline e that has been poorly managed for decades due to upstream capital hurdle rates limiting competition.
Fracking has completely changed that. Supply is so cheap to spin up now that we actually need to be profitable in downstream. On top of that we have had some success in outsourcing to cheaper labor markets like KL (and I know people are sour about this but our KL engineers are legitimately very talented).
Which means that the free ride is over. This idea of the massive paychecks and constant raises needs to be adjusted. We just laid off 20% of our workforce and as well all know many of them were perfectly well qualified for their positions.
There is an oversupply of oil, an oversupply of labor, and downstream isn't profitable.
Free ride is over. Even if we do see an upwards salary it will constantly be paired with more outsourcing and cost reduction, particularly at the more bougie companies like EMRE. Best case scenarios is for the 50+ CL27-28+ crowd as they should be able to skate by and cash out while gutting everything beneath them.
If you really want raises move to a growth industry that's actually competitive
Same boat there buddy.
It will be in the range of 17-22% depending on your ranking to make up for last year, 401k, inflation, and to stem the attrition. With oil prices up and EM costs lower due to layoffs, EM will still pay less for salaries than last few years. You will be covering more jobs now that there are fewer employees. So yes, your pay may go up 22%, but your hourly rate will increase 3-5% due to the extra hours you will be working. As usual, those ranked NI and NSI will not get a raise.
At least 20% or I'm out!
I’ve been told the average raise will be about 3%. That’s probably not what you would consider huge. Good Luck Hotshot!
Define huge.
I’m definitely in that camp