Team,
As we're getting closer to the merger I'd like some insight on what your bonuses look like. I'd say anyone who is making base 90K (Exempt) is at a 14% Bonus Target with 5800 Stocks here at Pioneer
I know Exxon pays higher base and lower bonuses, but I'd like to get an idea of what we should expect if anything at all from the Exxon bonus structure.
Which team?
My team openly shared they aren’t keeping anyone from Pioneer.
ExxonMobil only cares about university diplomas in engineering. Just ask former XTO employees who had decades of experience but no piece of paper how they were treated.
“ I'm sure Exxon will take some positives from Pioneer and implement them in the Permian. “
This is not the ExxonMobil way. They consider it a takeover not a merger. They will be looking to replace all Pioneer ways with what they consider to be their superior ways.
Pioneer guys, listen very carefully. You're fuccked. You must leave as soon as possible. Woods already has plans to get rid of you. Leave before you end up like us. This company isn't worth it.
For the education part. Are certifications included in the education considerations or is it limited to Collegiate Degrees?
About the Permian Insurance: We have a health clinic on property at Pioneer. I'm sure Exxon will take some positives from Pioneer and implement them in the Permian. Companies tend to have difficulties attracting and maintaining talent in the Permian. A good way to alleviate that is to offer better benefits than the competition. Guess we will see, but the infrastructure and staff are already there so it would be easy to adopt it.
CL is classification level and is based on age, education, and role. The higher your CL the more your salary can be. Salary is based on a formula of your age, CL, and assessment ranking. Your supervisor doesn’t determine anything other than your ranking which then HR uses a formula to calculate your salary. If you rank well your CL promotions happen quicker.
Insurance is setup for people in Houston just like all HR benefits. Permian employees are not even an afterthought. No consideration given to providing similar level of benefits to Permian as Houston has. For example there is no HMO option for Permian so your only option is the more expensive PPO. I have never spent as much on medical as I do in Permian.
Yes insurance is subpar. I’ve actually paid out of pocket and it was a lesser cost than going through out insurance. Lots of doctors don’t even touch you once they find out what insurance you have and retirees insurance is even worse. Exxon has two classes of insurance. If you make it go Retirement without passing away from stress or getting piped your placed in an older person policy and insurance sky rockets. They don’t tell you this when you hire on. Very crooked company.
@hhh. Thanks for the insight! We're (Pioneer) in the dark right now as expected so I'm going to share it on the Pioneer board.
Another question: We usually get at the minimal a 2% merit raise each year and during my time (4 years) we received one cost of living adjustment at 6% last year. I'm assuming the CL works the same way?
Last question. Can you give some insight on the Health Insurance structure? The rumor circulating around Pioneer is that it is subpar. Speaking from mine at Pioneer (Single no dependents), I only pay like 25 a month and Pioneer covers the rest.
Once again, Thanks for everyone's input! (Not including the jaded trolls)
No bonus bestie
Non executives who rank well can get at most 300 shares of RSUs a year. Most people don’t qualify based on CL and even if they do qualify aren’t ranked high enough to receive
There is no bonus structure.
Very few of the top ranked engineers will receive bonuses.
I don't know why you hate on what seems like an honest question. Most "normal" exempt employees at XOM don't get a bonus at all. Executives have all sorts of other income options, but most people just get their base pay. Which arguably is higher, but that is highly dependent upon your Classification Level (CL) and your ranking. As a general rule, your pay is based upon your age and if you manage other people. As those go up so does you pay until you reach your "potential" generally in your late 40s or if you are lucky your early 50s. You'll get basically no raises after that.
If you are ranked well you can get XOM restricted stock issued to you. You used to have to be fairly senior (CL26) for this even to be an option, but that has been lowered to CL24 (I think). Even so, the higher your ranking the more stocks you will be issued. These stocks vest (are truly given to you) 50% at year 3 and 50% at year 7. This is WAY slow by typical standards...but it is what it is. You could probably expect ~$10,000 in XOM stock per year that you qualify, but that is gonna vary by CL and ranking. And again, you won't really see a dime of it for 3 years, then the rest at 7 years.
Until you are an Executive there is no bonus. RSU are granted based on performance and classification level.
Generally ExxonMobil messaging is that we pay a higher base thus no bonus. It generally means you are pay is better during lean years and lower during good years.
OP please troll another site. Begone!
You will get nothing. Ranked NSI and PIPed out for you