Does anyone know the salary range for directors, vp‘s and svp‘s?
We have so many of them…
10 replies (most recent on top)
When you think about it, if 3M just got down to the division level staffing or close it wouldn't be top heavy at all. I would even say that would be top-light. With all the mergers the average division is around $1.5B in sales at this point.
If my numbers are right (and they are close):
About 1500 Director and higher staff and about 80,000 total staff says there is only a director or higher rank for every 50 to 60 employees.
Yes, there is still fat to cut - mostly corporate overhead - but 3M isn't grossly top-heavy.
Despite all the restructuring this company is still super heavy on the top. Kearney 2.0 anyone?
The SVP and above (L1 and L2) are around 100 or a little less today.
VPs (L3) are roughly 300-400 (estimate, I don't have easy access to the full list)
The directors (JG16 and JG17) are easily 1000
A single global division will have:
1 L2
3 to 6 L3
20 - 40 directors
Multiply by 20 divisions gives:
20 L2
60 - 120 L3
400 - 800 directors
Add on to that the all the corporate services, area, and BG-level staff not assigned to divisions and you get my top-line numbers above.
Many of them would have their stock options or RSUs decimated with the share price being halved.
It’s a great gig if you can get it. Who wouldn’t want to make $500+ a year.
Unbelievable!
Does anyone know the total number of Directors, VP‘s and SVP‘s ?
I assume the total number is close to 500…
You can do the math
No wonder this place going under.
L3 job grades are all going to be total cash around $300k - $350k. L2 runs closer to $400k for total cash.
Both sets have substantial LTIP on top of the cash, think $100k+ in grant value.
For L2/L3 it really depends on what is negotiated. Starting in the 500k range on the low end going up from there for total comp -> Base, AIP, LTIP. There are definitely too many folks at these levels. IT is a perfect example….how many SVPs do you need to manage a cost center? Cut them all and down level to Directors. Plenty of average leaders will jump at the chance to run IT, doing layoffs and just keeping things running. No need for highly paid innovators.
Someone posted this before in the past...
JG15 - Sr. Manager - 217k
JG16 - Director - 232k
JG17 - Sr. Director - 271k
JG18 through JG21 / L3 - Vice President - Salaries are not easily found for L3 and L2.
L2 - Division President or Sr. Vice President
L1 - Group President, Executive Vice President, or C_O - Check SEC filings