Based on the HR discussion that we had today, it looks like another stingy raise is in store.
Why is leadership surprised by the attrition rate, especially around April.
18 replies (most recent on top)
ACB is 16% of CEO pay. 74% is share price based… 10% is base pay.
The more you know….
Bonus is great, but raise is more important in the long run
Ah, ACB funding is out, but not merit/inflation adjustment, as far as I know.
It is actually out. 161% is accurate, unless you think the SEC filling is wrong. Page 88.
https://d18rn0p25nwr6d.cloudfront.net/CIK-0001510295/661abccd-7aeb-4a90-99e9-47cc925af9a7.pdf
They will not be out for another couple weeks (most likely JUST after the employee survey closes, GO FIGURE). The salary midpoint changes are accurate, you can find this years and last years values on SharePoint with some digging.
has anyone received their actual bonus numbers yet? are the values stated below accurate? thanks
Well, 4.5 is better than 3. Shrugs
Hearing inflation adjustment of ~4.5%, with salary midpoints only moving 2%, that moves you closer/farther away from midpoint and reduces your bump in the future. Performance 161%.
The comment seen here isn’t written by a Marathon employee. It’s obviously written by the same people that translate Chinese manuals to English…
If one is not satisfied with the pay a company offers, they are free to resign and try to find a job elsewhere. Do not think many, if any, at MPC will be able to do better elsewhere and most, if not all, realize this fact. Thus, they moan and complain - what a bunch of deadbeats.
I don't disagree that many can't do better elsewhere, but it is not unreasonable to expect fair wage adjustments in light of high inflation and record profits, especially on the heels of layoffs. We all live up to our means, so being loyal shouldn't mean pay cuts in real terms.
If one is not satisfied with the pay a company offers, they are free to resign and try to find a job elsewhere. Do not think many, if any, at MPC will be able to do better elsewhere and most, if not all, realize this fact. Thus, they moan and complain - what a bunch of deadbeats.
Consumer Price Index report out today says we're at 6.4% annual inflation. Despite record breaking earnings, we know that we can expect the typical ~3% raises.
So enjoy your effective ~3.5% pay cut for the year. Also, please disregard the $27,000,000,000 we've been spending on stock buy backs. Remember to keep deferring those critical maintenance items as well. We need to keep those investors happy and our golden parachutes robust above all else.
- Big M Management
What a clown!!! Apparently the clown missed 2022 where a lot of people got a 100% pay cut. Of course we get salary freezes and layoffs (pay cuts) when times are tough. The company should be generous during profitable times just like they are punitive during bad times.
Well HR entered the chat…hey HR, suck it!
Yes, we should get raises. Recall what happened when the company was losing money? Payroll was slashed. Not only job losses but many jobs had the pay grade lowered. That is a pay cut. What was your argument again?
If we should get raises during the profitable times…. Should we expect pay cuts when we’re losing money? Just curious since people always use the “ our company made so much money this year” argument. Same with inflation….
Record breaking profits that significantly outperformed analyst expectations...yea a 2% raise to thank the employees who made it possible sounds about right.
The raise wont even cover the cost of eggs let alone the cast of GASOLINE!!!
Raise (pun intended) your hand if you’re surprised. Anyone? Anyone?