I'm here a little over 5 years. Started at grade 6, now I'm grade 10. I have never received any RSUs, but from the questions I see here many people are receiving some RSUs. What grades are you at, if you don't mind sharing? When did you received your first grant? Am I being screwed? Or is it normal?
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Not only normal but to be expected. Let me explain how RSU allocations work.
Based purely on GL]/Location Distribution managers are assigned a budget of RSUs.
The guidelines are basically that about 100% of GL13+ ,75-80% of GL12s, 20% GL11 and 5% GL 10 will get an RSU grant.
Depending on your management chain you will either be allowed to spend 100% of your budget, or your manager, director, VP will hold back a percentage. That percentage is then used to address unusual situations, e.g., Two top performing GL10s on a team of 20 people.
Just like IPFs managers are "encouraged" to have a wide distribution of ranges to "differentiate based on performance."
This is a dramatic change from the broad based stock option grants that used to be given.
Personally I'm disgusted by this approach. If a manager is is doing his/her job, then the "performance" delta between people on the team will be relatively small and in many cases subjective or outside of the control of the individual. For example I've been forced to give lower IPFs and RSU allocations to people because the project they were working on wasn't as critical. What? I gave them the assignment. It's not their fault that it wasn't as critical, it's mine.
1mtv, it doesn't work either. Promotion in Cisco nowadays is also based on nepotism and favoritism. For those who are in Engineering and not Indian, they are out of luck.
Recently RSUs have been given to Grade 12 and above speficially . I am a grade 12 and have gtten RSUs almost every year . Either try to get promoted to Grade 12 or head for the Exit Door . Cisco Policies for giving out RSUs are going keep getting more and more stringent .
why is govt allowing so many cheap Indians come here ? and making us jobless.
It is all based n nepotism and favorism. I have had RSU for several years until my boss was replaced by an Indian.
Sneaking suspicion that instead of handing out stock to higher performers, the directors or svps just pocket it for themselves. How else do so many x ranked employees go a decade without getting jack?
Similar experience.
Hired in 2007 in last big hiring spin as Grade 10 in IT. Got 3,500 options that were worthless until a recently. Sold them as soon as they were above water at a net a profit of a little over USD$1,000 (after taxes). Hardly worth almost a decade of my life.
Got RSUs once in 2009 and never saw any again. Sold last ones in 2012. Always get good reviews and always get a bonus but still a Grade 10 and have yet to get a promotion.
My story is hardly unique. Common in fact, within IT and sister groups. Engineering and Sales are different, I hear. I have seen people that were hired in the wrong grade and kicked a-- getting the promos quickly like the OP has described. However, now that you are a G10...expect the fairness, equity and promotions to come to a quick end.
My suggestion; learn everything you can and squeeze every last ounce of value from the company that is possible. If you have management on your mind look around and see what kind of lives and existence those people live. You may be frightened. At that point if you decide that is your path, stick it out.
If on the other hand, like the rest of us who are left, you decide management @ Cisco is equivalent to a Nazi Death Camp Oven Operator and the value you have been pulling in has ceased...head for the exit at the first good opportunity and don't look back. You are witnessing the long slow decline of what was a great company. Don't waste any more time.
Don't think it is possible? One word....... NORTEL
I was an admin and got RSU's!
There is a pool of RSUs that is available for each VP to distribute to thier directors who then parse out to worker bees. Top performers will get higher % and it goes down from there. Usually RSUs get soaked up by directors and above.
I'm 11 got only one grant in 09 and excuses ever since.
Yes. Entirely normal. I went almost a decade without any new grants. I got minor raises over that time, but never stock, even being constantly ranged E+/X.
The new stock handout method is even worse, with SVPs hand-picking who gets them. It's not even theoretically tied to performance anymore what with the people deal wiping out visible rankings, not that I ever saw a correlation between performance and reward.
Finally got sick of their excuses and ran as far away as I could, as fast as I could. Haven't looked back since.
When I was joining, they hired me at grade 6 but I really should be grade 8 back then. I was in a s...ty position, and that's why I took it. My manager was actually very fair, and told openly me that I was qualified for the next level, but he can't give me it immediately, because he has this position approved only for grade 6. So I got my first promotion (to grade 8) pretty quickly - in about a year after joining. And then from G8 to G10 about 3 years later. So now, I'm a little over a year at G10. But I feel that I may be a little behind the curve salarywise and I haven't ever seen any RSUs, which - from what I hear - quite a lot of people have.
How did you get promoted so much? I rarely saw anyone get promoted in my immediate team within 5 years except managers.