just heard about a lot of PSG24 and below automatically got a promotion plus a hefty raise.
how about those PSG 25 and higher? good raise plus promotion? what is company's purpose of doing this... any ideas?
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Actually, some folks at 25 and above are receiving a net decrease to their pay - good performers whose pay is not even being kept flat.
@ejb, based on my understanding, the non-production company Petrotechs are not hurt by this. Their salary is not being cut, just not going up. The company is free to pay what it wants, within the law, and the employees are also free to leave the company if they find something better. What Chevron is doing is protecting themselves from having the best core employees being poached by other competitors. Since Chevron cannot possibly raise everyone’s salary to the extent it’s going with Production Petrotechs, it has chosen to do what’s most expeditious and financially sound. The only thing being hurt are the feelings of those who don’t get a slice of pie this go-around.
A lot of CVX non US Production Petrotech employees were unfairly hurt by this. Paycuts s---.
About 98% of all PSG25+ employees are overpaid, so a cut in pay is a good thing for the company. As far as only US Production Petrotechs getting a bump in pay, one must concede it’s oil production that brings in Chevron’s cash flow. All other BUs have their importance, but they are not the central money maker for the corporation. In these oil industry times we’re living in, we need to keep and incentivize the best employees that keep Chevron going.
So non-CNAEP Petrotechs and all PSG25+ Petrtechs got paycuts, while others got promotions and huge raises?? What a way to show appreciation!
Most Petrotech PSG19-24 got a PSG bump. Management clearly thought that the risk of losing PSG25s was minimal. It was a boneheaded way to correct Chevron's consistent history of underpaying relative to market. This did not solve the problem. Just a 2-3 year band-aid.
Management also screwed over a lot of high performers in PSG19-21 that would have gotten a promo anyways. Those individuals were paid with their own money.
What is CNAEP? Petrotech bonus eliminated? So PSG 24 laughs all the way to the bank while PSG 25+ gets effective paycut?
Not a troll. All CNAEP petrotechs at PSG 24 and below got a 1 or 2 PSG bump. That equates to about a10-20% salary increase plus commenurate increase in CIP bonus target. Petrotech incentive bonus eliminated. Chevron’s way of saying thank you to the BU leadership teams?
-gak: Your constant complaints that topics all do not focus on the laid offs is myopic ... move on ... the alternative to company chat is silence. Not many wish to discuss how butt hurt they are long after the cull....we currently have record low unemployment... broaden your horizons!
That is so asinine it cannot possibly be true. PSG 24 automatically got promoted to PSG 25 with no effort and ended up the same as someone who put in years of effort/performance to get to PSG 25? Sounds like a troll.
Company wants to retain the PSG 22-24s. They’re the future OC of company and chevron does not want to lose them. 25s are getting screwed. Company has them confused with the worthless PPT jockeys and working-thru-others PSG 26-27 management.