re: Decisions: Shell Norco or Exxon Refinery

I guess you started out in the industry as an expert with no questions. Good job

Just take a fricking job and stop being an attention whore.

Im not sure if shell has a pension but I know exxon does plus you get to keep your insurance after you retire

The question was directed toward one person. This is a discussion board and it was your decision to read the post. I apologize that I have attractive options and don't have connections in these particular plants to ask questions. Thanks again for your attention.

Thanks for your help

Both Shell and XOM have a pension. I believe neither have insurance after retirement anymore. This was phased out recently. I believe both allow you to maintain the company coverage, but the company does not continue to pay their portion.

The Shell plan is an accumulation of % based on Age + Years of Service (this increases over time from 4%/yr to 16%/yr). This is a one time payment upon retirement or termination. If you start around 30 and retire around 60, you’d earn roughly 300% of your final average salary.

At XOM, you earn 1.6% for every year of service. This is multiplied by your final average salary, and reduced if you retire early (Age 55 through 59.5). Using similar assumptions, you’d earn around 50% of your salary. However, this would be every year or you have the option to take a calculated lump sum (at a higher total based on some assumptions by the company).

So for pensions, XOM has the advantage. However, Shell contributes higher to your 401k, 10% once you’ve been with the company for 9 years.

quote:

---

Just go to West Texas and work pipeline.

---

Doing what kind of work on pipeline?

quote:

---

The Shell plan is an accumulation of % based on Age + Years of Service (this increases over time from 4%/yr to 16%/yr). This is a one time payment upon retirement or termination. If you start around 30 and retire around 60, you’d earn roughly 300% of your final average salary. At XOM, you earn 1.6% for every year of service. This is multiplied by your final average salary, and reduced if you retire early (Age 55 through 59.5). Using similar assumptions, you’d earn around 50% of your salary. However, this would be every year or you have the option to take a calculated lump sum (at a higher total based on some assumptions by the company). So for pensions, XOM has the advantage. However, Shell contributes higher to your 401k, 10% once you’ve been with the company for 9 years.

---

For a company earning Billions of dollars per quarter, that’s really, really cheap of Shell.

Assuming a baw is making $100k per year, which is of course easily doable- the 300% payout would be $300k... Under the XOM pension, making the same $100k, you’d get $50k a year for life; if you live another 30 yrs after retiring at 60 (again, very realistic in this day and age) you’d eventually get $1.5 million.. even if Shell contributes more to the 401k, you probably still wouldnt approach that amount... Then again, having several generations of my own family who’ve worked for Shell, they do so much shady shite and poison their workers in various ways, so i guess the life expectancy after retirement isn’t real good, and they know that.

Compounding interest baw. I am half asleep though so your probably right. I am in the salary side of the fence and would love to find the best pension / salary ratio.