Don’t let your life get addicted to anything above 27 pay, you lose options if you do.
XOM has always had stock, EMU, cash equivalent, etc performance retention bonuses for the highest ranked people. It used to be very hush hush secret until a few years ago. It’s not too significant until you get to cl30 and presumably keep high RG for your career then they keep adding up over time. It is a lot harder (more infrequent) now to reach CL28 and 29 than it used to be. Get into upstream earlier in career and stay there to get higher CL quicker. Upstream are still a notch higher on CL for the “same” jobs, due to “limited global knowledge base”.. remember that in five years AI will likely offer most all the knowledge anyone needs to make effective decisions, it wont be in EM first though. EM plans to lag, lower risk this way. So find your way to add value, learn who appreciates it, and learn how to market it. You will definitely find more RG opposition at higher CLs due to most managers being there. Make time to network inside and outside the company.
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If you are promoted from CL-27 to CL-28 you will automatically be ranked in the bottom 1/3 if you are technical. One purpose since 2019 is to promote technical to CL-28 so that they become the NSI and NI's for CL-28 thus protecting management which is always ranked in the top 50% of the CL-28 category.
I got a big bump in salary once I moved to CL 28. It was about the same time that I noticed I became target for those who viewed me as a competitor.
Sure salary was nice. The backstabbing and general nasty behavior I had to put up with was not worth it. Nobody outside of the company cares about CL level anyways.
Yes but this was also when managers had more control over the pay. Roughly 7 years ago. There were options for managers to release "bonuses". Lets not get this twisted DW bonsues. This guy was also a Global Guru.
The comment @1zvn+1syPCOQx made is more recent changes where CLs get stock options depending on where they are ranked. I think it was CL 25+, with CL 25s needing to rank outstanding? Somebody correct me if I'm wrong on that one.
No cash bonus for 28/29, only stock if at least a VG. Cash bonus starts with CL30
Day and Night.
@ogb+1syPCOQx I have never heard of bonuses at CL 28/29 level. Is this real or hear say ?
Take an expat assignment to make money? Most of them are money losers.
27 to 28 is actually quite a big jump. 15+% bump when you go from 27 to 28. At downstream, CL28 will be your tech manager/eng manager.
Following up to my own post @ogb+1syPCOQx. I forgot to mention the ranking sessions. I heard 28+ is pretty hardcore considering you are being ranked with all "Sr leadership". Some people prefer to stop at a CL 27 which should have you over $200K. These are things to factor in if the opportunity presents itself and it would also depend on what age you reach these levels.
Hypothetically if I'm 50 and reach a CL 27 (with the potential for higher). I would rather stop at CL 27 and take an expat assignment for more $$$. The goal at that point is to reach 55. Going up to CL 28 at that point in my career is added PDS stress with a higher % of being PiP'd. If you already in the CL 28 pool, then that's a different story.
One thing is for sure, it’s silly money. These aren’t people who are building rockets or curing cancer.
They know how to play a game, keep quiet, and leapfrog through a system. If they ever lose their job, they might have one he-l of a time reproducing their salaries because the skills they learned at EM are probably NOT very marketable. “I’m super great at making PowerPoints and taking credit for work our contractors do!”
Point is: if you’re making that kind of money, live BENEATH your means and save. Don’t go buy the biggest house, fanciest car, join the country club and put your kids in private schools. If and when the hammer falls on your head, the crash will be u-g-l-y.
One factor is potential. If your potential stops at a CL 27 then that's it for you ($$$). If your potential exceeds a CL 27 then you may have more of an opportunity to reach corporate CL status (+$$$). I was also told you have more stock options and a potential for a bonus at a CL 28. I knew a non manager who was a CL 28 due to his global knowledge over the years and he got a bonus. He was actually making more than his direct manager who was also a CL 28 at the time. However he capped at a CL 28 and retired. The manager is now a CL 30.
I would also assume the pay range is different considering the change in curves EM recently conducted. They went from a P70 to a P50 so the curves are not as big as they use to be.