Thread regarding General Motors layoffs

They force you to take a GM vehicle whether you want one or not. And it's a taxable benefit, so you're going to pay the IRS no matter what.

Seeking for some help. I did interview for a manager position and the role reports into Asst Plant Manager. The recruiter mentioned the role carries 13% bonus but also comes with Car. So I am confused if the offer that I may get is at Level 7 or Level 8. Worst case it might be level 7 but GM probably changed policy to include Car at this level. Please advice

Why Care? That fing company car gas, and insurance should have been eliminated during the bankruptcy.

Gas ~ $200 / month

Full Coverage insurance ~ $75-100$/ month.

Car Payment ~ $500-750$ / month [depend on vehicle]

most reasonable vehicles average 25-50K. (500-1000 per month)

Maintenance - 75$ / month [tires, battery, emergencies, etc...]

Registration - 7$/month

Taxed Outlay = 10,284

20% Tax Bracket = 12,341$

GM requires that you get leased vehicle every few years ... low leased GM vehicle is approx. 250$ per month including maintenance.. 3000 per year .... with insurance 4000.. pre-tax amount is 5000 you must earn.

You must get an additional approx. 10,000 before tax depending on level of usage (light, moderate, heavy) and size of car (small, cross-over, SUV) to break even with this benefit.

~$75 Annual registration/inspection - Texas

~$600 annual insurance

~$1750 annual fuel expenses based on 2.29/gallon, (1) 16 gallon fillup /week (YMMV)

~$4800 vehicle expense based on a ~400/month lease or car payment

$7225 annually. Obviously if you have a long commute, the gas + lease mileage avoidance would be higher. You need to purchase a new vehicle quadrenilaly YMMV. If you do not have a licensed operator in your household you do not need to make that purchase. There is no fee associated the program other than the quadrennial purchase.

When i left, i went back to my reliable 20 year old vehicle, and a pay increase that more than made up for $7225 annually. I now have to spend my own time getting the car inspected/registered, but i was doing that anyways on my personal vehicle.

The problem with the level 8 car is you don't know what kind of car you are going to get. Some people end up with huge pickup trucks.

Getting a promotion at large companies is more about having friends in the right places rather than what you did for the company. A lot of people that go to Kettering get their level 8 almost like an automatic thing.

My old boss at GM knew nothing about software but somehow was qualified to be a software manager. BUT he would tell me I did not have the skills to at a level 7A.

Later he admitted that another level 8 in the area did not like me and would stop him from getting me a promotion. at least he was honest.

The company car is the stupidest perk GM offers (from a budget perspective). If Mary was serious about saving cash, she'd have k--led that program years ago, and long before canning people.

What's it worth? That depends. Do you drive a car that's already paid off? Would you buy a new car every 4 years already? If your vehicle is paid off and you wouldn't be buying a new one for your spouse regularly, it's probably not worth all that much.

Don't forget they require you to keep purchasing or leasing a new vehicle every 4 year so that will need to subtracted....

Let's see now.

Free gas ~ $100 / month at today's rate of like $2.25 / gallon.

Free insurance ~ $50 / month.

Free lease ~ $350 / month [could be higher if they give you one of those Cadillacs, and lower if you get the Chevy].

Misc like car wash / maintenance etc ~ $50/mo

Total you're looking at $6600 / yr give or take.

If you are married there's some junk about your spouse needs to buy or lease a GM car.

Free gas, maintenance and insurance. Do the math.

GM wants people to quit, don't count on a promotion even if the company goes bankrupt without you.

Where are you located? I know for a fact that GM pays well below market rate in Austin. Over the last few weeks, I've spoken with about 10 recruiters who disclosed salary range for various IT positions throughout Austin. The low end of the salary ranges would be a 20% increase for me - high end more like 30-50%.

You could leave and easily get 20% - likely much more depending on your skill set. No kidding, start talking to recruiters on LinkedIn and see for yourself.

I'll be jumping ship very soon ...

Company car is a great perk, especially when you get a really nice car. The good thing it is tax free, including fuel, all maintenance, and insurance. And base of all you are always driving a new vehicle. I was laid off and that and health care were the best things about GM. Other than that I am glad to be gone and off to new adventures.

There may be merit in it to compare a level 8 and another offer outside GM. A company car benefit is one which is hard to put a dollar value against, yet it can still be used to factor in a total compensation package.

Then again there are others who have a bought and paid for car that works like a charm and their argument would be that company car brings nothing to the table compensation wise, except maybe bragging rights.

Being a level 8 just makes you more likely to get laid off next time.

If you know you're never going to be a level 8, why do you care what the car is worth?

Do they still charge $250 per paycheck or is it now waived? apparently you also have to purchase new vehicle every 4 years so calculating a dollar amount for the perk is not easy. Maybe $7500 / yr ?!

Since your in IT maybe you can use Excel to solve the question, try using the + and - keys, with Gozinto function.

Lol