Thread regarding Pioneer Natural Resources Co. layoffs

Looks like a legitimate response to pay question for Exempt Employees from Exxon Board.

Had to shuffle through some jaded trolls but got a good comment when asking about the bonus structure. Also, we should use these boards for legitimate information gathering instead of the usual bi--hing and complaining. If you don't like your situation, I'd suggest on working to change it.

rant over: Most legitimate reply on Bonus Structure as the following:

"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."

My thoughts: Kind of su-ks not having the bonus structure as I've only exceeded my bonus target in my short time here. That said, a higher base pay will be nice and that 15 year pension is a major benefit. I reached out about the health insurance information and will update if I can decipher a legitimate reply.

Lastly, it's looking the merger will be approved on May 1st. To our LCO team, sorry you all got to go through this. I relocated from the Parsley merger, and it was extremely stressful, however, I don't regret it as I've gained experience and career advancement by moving to the larger company. Anyways, good luck to everyone!

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| 1321 views | | 2 replies (last January 27, 2024) | Reply
Post ID: @OP+1qMQGyda

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So you didn't even know anything about XOM's pay structure until now (common knowledge btw) but we're supposed to believe you know when the deal is closing?

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Post ID: @gxz+1qMQGyda

Heritage XTO here still working at XOM. The health insurance is OK for benefits but is expensive. There are basically three plans to choose from. I pay about $540 a month for the top family plan. Dental and vision are separate but more affordable. Before XOM, XTO medical insurance was free for each employee, had zero deductibles and free prescriptions.

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Post ID: @jgh+1qMQGyda

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