So, what's the speculation (hearsay from any grapevine) on our annual bonus? What can we expect...
42 replies (most recent on top)
We are on the road to 2 Billion in savings. That means there just isn’t enough profit remaining for everyone. Which is why myself and the ELT decided it best to keep it all for ourselves and give you a free pair of Pegasus 40. Enjoy them along with your 1% salary increase. See you all in Paris.
Earnings call is next week. U will know abt PSP after that or JD will announce during that call. But do not expect mich out of it. He need to save money!!!
My team was told better than 75% and worse than 100% on PSP with the caveat it's an educated guess. For those that are not familiar with the calculation, that's percentage of the PSP target percentage of your annual pay for your level. For example, for level 35 the target PSP percentage is 10% of your annual pay. The predication for the upcoming PSP is 75% to 100% of these 10%.
I should also add that the closer you are to leadership, the worse it is. Especially global leadership. So that might account for some of the people saying “it’s really not that bad.” I watch closely how they treat people in and out of meetings, and how much they consider stress levels of those below them when driving work forward. I overheard one of them whispering about how “dramatic” someone was for mentioning that teams are overwhelmed and need clearer guidance. They simply don’t care. I see people that work with global LT crying weekly at this point. At every level. If you think that’s normal or that it doesn’t set the tone for the entire company, idk what to tell you. You might be a part of the problem.
@3fdh+1t1B5rJP - I’ve worked at two competitors in recent years and it’s not nearly as bad elsewhere, and that’s coming from my friends that are still at those companies as well. Every company has its issues, but nike has become exceptionally problematic over the past 12 months. Even the nike vets agree it’s the worst they’ve ever seen it.
Nike has its faults and issues but if you like your direct and indirect management, it’s really hard to find a reason to leave.
For me, I’ve been fortunately to have a good management chain for the past 3 years. They invest into my growth, there has been opportunities, not every single one I was able to get but had a fair shake at it. They’ve been transparent most of the time.
When you get a terrible management line, things are hard to get through, toxic and feels like you’re stepping on egg shells. I lived that prior to this moment im in. This goes for any company.
@3jri+1t1B5rJP Coming from someone who’s worked at competitors, I hope you realize this is the same everywhere. Grass isn’t always greener
I just hate Nike and it's toxic culture. Period. And yes I am actively interviewing with competitors and will be gone in a blink of any eye witOUT two week notice
@3wdj+1t1B5rJP You’re here complaining like the rest of us, so I’m not sure why you speak as if you’re above this website and the chatter that happens within it. This whole “nike is what you make it” mentality is only pushed by tenured nike vets who forget that it doesn’t have to be this way and that accountability does in fact sit with our out of touch leadership team that fails to follow they’re own ‘Leadership defined’ competencies. Pushing people to stay silent and tolerate the culture or quit will change nothing. The people who have been at nike 15-20 years have drank the kool-aid and are committed to holding onto their sabbatical and PTO perks so much so that they are willing to keep their heads down and tell the rest of us to leave if we’re so unhappy. They have no clue about workplace culture relative to other companies, their only reference point is nike. Of course other companies have their issues too, but Nike is far worse and you can’t shame people for wanting to feel valued and respected in the workplace. The accountability we’re pushing for will benefit you too eventually, and when that happens you can remember that the people who ultimately changed things were the non-conformists who were willing to be disruptive and make a statement. JD should be proud of us, really.
Most of the people I knew who were laid off were not "specialists" in footwear anyway. Admin, marketing, communications, finance etc. The nice thing about those fields is that they are transferable to any industry, which opens up your options a lot.
Not trying to take away from the subject but everytime I hear the “mass quitting, they’re finished!” I always just laugh. I know 5 who tell me this every year near bonus time and for the past 7 years, not a single one has quit.
Now they’ve shifted jobs WITHIN Nike, but no one actually went somewhere after stating the usual “toxic work place, terrible management, I hate (insert department)”
People make it what it is, but a lot of these people just straight hate work or their occupation and I get it. Work is hard, people are hard, management is “always figuring it out”. Heck I’m a director and I’m figuring it out as I go. I’m not perfect but I always listen and not every director listens.
So I’ll say - put your money where your mouth is and take your shot. You stay, good, you leave? Good for you. But don’t make this a toxic anymore than what it is.
@3fpc+1t1B5rJP So many resigned in NSRL and now have better jobs elsewhere. Not in footwear but in comparable industries. If one limit himself to footwear and to Portland, then yes there is limited positions
Oh no not in the footwear industry. That’s a dead end. But other industries are poppin.
@3ulu+1t1B5rJP What team is this? Most people I know who have been laid off since last November are still looking.
Nike seems to be the only one hiring in the Portland area for those who want to stay in industry
Whoever down vote @3ulu+1t1B5rJP, please seek therapy! Down voting a good news about a laid off employee finding a new opportunity means you are miserable!
Everyone on my team who got laid off in February has a new job already. Jobs are out there.
Nike used to be like gold dust on your resume, those days are gone. Make sure you lock up a new gig before leaving. In the tech realm Nike is a joke, faster moving tech firms look at us like slow moving land mammals that can’t keep up.
Market is not as bad as Nike wants you to think it is…. Many people impacted on April are already working….
When people say they’ll quit, it means they’ll actively search for new jobs. In some areas it’ll be easy to find, in others not so much. No one says they’ll leave tomorrow with no plan. When NA got very low PSP in 16-17, there was a good amount of people that left because of that.
This is easier to do for good performers, that’s why those leave the company so frequently, specially in tech where Nike su-ks the most and leaders change priorities and resource allocation every two months.
I do not know about anybody else on their risk tolerance on quitting and entering job market but in our team 3 people quit because they were secretly interviewing and got offers and two actually quit with no job offer lined up because it was affecting their mental health....7-8 months of constant stress, extra work, toxic manager... yeah that will do it..... Some of the lower levels are making $30 t0 $40/hr. He-l you can male that in other line of jobs
In bad times the ones that quit are the ones that can. The ones that stay are the loafers & the dam*ed.
Currently in a squad of 7. Two of us do everything, the other girl is visa trapped and will never leave. I’m deep into interviews because I see the writing on the wall.
My oversized team is under performing. Eventually they’re going to tear it all down. I’m better off doing so on my terms, before they destroy my reputation.
@1mwp+1t1B5rJP This guy/gal gets it. It takes a lot for someone to voluntarily quit and enter the job search market.
I’m also amazed at how few people understand PSP. How many years have you all worked at Nike…? The documentation online is explicitly clear how it works. It’s like listening to people complaining about how IKEA furniture is difficult to put together when they haven’t even read the manual first.
Are you alright? Do you not know about a thing called HR Website and Workvivo? The percentages per band level are posted there. The actual final % is released with the earnings q4 results on June 27, LIKE EVERY YEAR!
Came to get to know this years‘ % and seems nobody here in the comments knows yet …(?)
@1obc+1t1B5rJP last year you received 119%. The system will need to course correct, hence why the chance in formula. Working in this company for things that can easily be taken away is always a risk.
@zjp Once again, suggestions that “If Nike doesn’t do XYZ people are going to quit” ring completely hollow.
For starters, the vast majority of people are risk-adverse and won’t easily quit a job with good pay and benefits at a Fortune 500 company, hoping they MIGHT find a better job elsewhere.
Second, only a very small number of people are irreplaceable. With most employees, if they quit there will be 100 other people standing by to promptly take their job. In other words, Nike doesn’t care. They might even love it if more people would quit. Will help the bottom line.
Third, exactly no one is quitting because of the PSP number in one year. Anyone who would quit over that is someone who was going to quit anyway.
Fourth, anyone who quit now would
be competing for jobs with all the people just laid off.
Fifth, the labor market overall is actually slowing down rather than improving. While job numbers are up so is the rate of unemployment. That said the job market has always been an individual thing highly dependent on your own skills and talents. Someone in accounting could easily find another job somewhere else. Someone in brand marketing would likely struggle. That’s why proclamations of the job market being good or bad are always silly. Fact is at all times the job market is great for some people and horrible for others. Like I said it’s a highly individual thing that largely depends on what you as an individual do for a living. I don’t understand why a lot of people seem to have trouble comprehending this.
Bottom line: Threats of quitting don’t scare anyone in leadership.
@1eel+1t1B5rJP I have put up with this sh-t show for the past year just so I remain employed on 5/31 and get bonus! Where did you get these numbers? I would be mad if all I get is 85% of a month salary
First time using the new calculation formula, a rude awakening for about 99% of employees, who have zero clue about how to run the numbers. It'll hit them when they see their bank statements... We wont hit the profit/ margin target, but will achieve revenue target. Now it's just a matter of you doing the math. In many cases, if i had to guess, you'll receive 70 to 85% of one monthly salary.
What is the percentage for grade 40? Is it 10%?
They give nothing or next to nothing. If it’s less than 50% I’m taking back the difference in personal time and looking for a new job.
My salary * 10% * 25% = peanuts, why did they bother
My salary * 10% * 50% = 2 month’s mortgage
My salary * 10% * 100% = I’ll leave this site for at least a year
Just remember they changed the calc this year. It used to be based on EBIT alone. Then last summer the slipped out an email saying they modified to include revenue. The old way, if revenue was tough we all could hold hands and control costs and make the company but goals and get 100%. No longer. We have to make both.
@lnj, Let's say that your annual salary is $100,000. Let's say that your grade has a 10% bonus.
That means that if Nike pays out 100% bonus, you will get $10,000 in bonus (before taxes).
If Nike does well (or if they want to make people happy and encourage them to stay) and the bonus is going to be 110%, you would expect a bonus of $11,000 before taxes.
If Nike doesn't do well and says the multiplier this year is 90%, your bonus would be $9,000 before taxes.
I hope my math above is correct.
Note that withholding on bonus is usually higher than for regular salary. You'll only end up paying what you really owe on your taxes and will either get more back or owe less, but the amount in your pocket initially will be less than expected because of the higher withholding.
@lix+1t1B5rJP can you or someone explain to me what do you mean by 70-80% or any percentage? Like do we get 80% of our annual salary in bonus?
Whatever it is, is has to be "good enough" to keep people around. People are burned out and exhausted after the past year and the white collar job market is showing signs of life again. They need to offer something appealing at this point.
What are goals for 100% PSP
How did we get 89% in 2022 but 119% in 2023 with no increase in financials? The PSP calcuations make no freakin sense. Math aint mathing.
Mark my words, 75-80%. Just enough to make us feel like we get something for all our pain, but not enough to dip into JD's compensation
Last commenter definitely smoking something strong…we beat front half goals? I don’t think we work for the same company dude
It’ll be between 120-130. We beat 1st half goals already. 2nd half goals were within reach except the savings that were announced last quarter. But those were not part of PSP criteria beginning of the year