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re: Electrical Engineering
Posted on 3/7/14 at 6:29 pm to guesswho
Posted on 3/7/14 at 6:29 pm to guesswho
Mine does. I work for a top 3 Oil Major.
I'll break down my compensation package for you.
My base salary is $123600k. I have a bonus target of 15% annually. It's based on my performance and the company performance. I've had it as low as 8% and as high a 26%. I get 300 shares of preferred stock annually.
I get 4 weeks of vacation based on my years experience, not my time with the company. Will go to 5 with 20 years experience and 6 at 30.
I have a 401K that in year 2-5 of employment is funded with 2.5% of my salary regardless of my contributions. Years 5-9 is 5%. Year 10 and beyond is 10%.
I also have a pension that is based on a point scale. My points equate to my age plus years of service. At 80 points, I've bypassed the point of deductions in my pension, however, there is a sticking point that for every year before I'm 59.5 they deduct 5% of my pension. My pension is an annuity. It's 60% of the average of my final 3 years salary.
Once past 30 years of service I retain my medical benefits.
I have several friends that work for other oil majors and all our packages are relatively similar with relatively similar pay scales.
With time, you could easily get to $175k with a 20% bonus target and 600 shares of stock. To progress past that point you'll need to move into a management role.
I'll break down my compensation package for you.
My base salary is $123600k. I have a bonus target of 15% annually. It's based on my performance and the company performance. I've had it as low as 8% and as high a 26%. I get 300 shares of preferred stock annually.
I get 4 weeks of vacation based on my years experience, not my time with the company. Will go to 5 with 20 years experience and 6 at 30.
I have a 401K that in year 2-5 of employment is funded with 2.5% of my salary regardless of my contributions. Years 5-9 is 5%. Year 10 and beyond is 10%.
I also have a pension that is based on a point scale. My points equate to my age plus years of service. At 80 points, I've bypassed the point of deductions in my pension, however, there is a sticking point that for every year before I'm 59.5 they deduct 5% of my pension. My pension is an annuity. It's 60% of the average of my final 3 years salary.
Once past 30 years of service I retain my medical benefits.
I have several friends that work for other oil majors and all our packages are relatively similar with relatively similar pay scales.
With time, you could easily get to $175k with a 20% bonus target and 600 shares of stock. To progress past that point you'll need to move into a management role.
Posted on 3/11/14 at 8:36 pm to Nobs
quote:
My base salary is $123600k.
Highest paid engineer in the world
I'm not EE but work with them in Petrochem. Can someone confirm the general classification at my work that EE is the most volatile of the engineering disciplines? It seems to have high contractor and turnover rates compared to the others. Why is that?
Posted on 3/11/14 at 10:09 pm to Nobs
quote:
Nobs
Sounds like you and I work for the same company. I started in consulting in 2007. I switched jobs last May and I make more than double what I did out of college, which at the time was pretty competitive.
quote:
I'm not EE but work with them in Petrochem. Can someone confirm the general classification at my work that EE is the most volatile of the engineering disciplines? It seems to have high contractor and turnover rates compared to the others. Why is that?
Are they getting canned or leaving on their own? May be switching companies for better compensation?
This post was edited on 3/11/14 at 10:12 pm
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