"Pay Mix" update...

Whatthewhat

Well-Known Member
20
10k salary is 2,500 a week, first raise is 1.5 k ...
A additional 375 dollars a week = a raise of $ 9.36 an hour based on a 40 hour schedule.

Not bad...


The average full time package car driver will gross 1,600 (40 x 40) also on a 40 hour workweek...

Our last raise was 1 dollar an hour not including COLA...an additional $ 40 a week.

Notice the difference?
10k a month is 120 a year. 2307 a week
Majority of management isn’t close to 10k

Hourly gain OT after 8 and no HC out of pocket
 

DELACROIX

In the Spirit of Honore' Daumier
20

10k a month is 120 a year. 2307 a week
Majority of management isn’t close to 10k

Hourly gain OT after 8 and no HC out of pocket

Granted..Math is not my strongpoint, History would be my strength....but still my totals are close enough to see the disparities in compensation between the (Union Free's) and the (Collective Bargaining Employees).

I am presuming that a two unit manager has a base salary of 120,000, hear say that a on road supervisor stands at roughly 90,000..that is at the operational level.

A division manager I am guessing grosses over 300,000...and we all know what those executives make in Atlanta.

Even if a feeder or package driver works over 60 hours a week they will still be lucky to make 120K...with the O/T..the Health Care package is running the Company roughly $ 500 a week for a full timer and $350 for a part timer..That benefit is needed considering the attrition of the (Union Folk) due to the physical nature of many of our jobs......Many will never reach that 25 or 30 year mark required for a decent retirement benefit...remember back in 2013 the Company wanted out of controlling our Health coverages, before then they actively pursued it. I believe that it had to do with the Obama Care (Cadillac Plan Taxes).... Team Care started to collect those negotiated monetary contributions and they are doing quite well and growing.

Your UPS Retirement Plan future benefits are still in tact...obtainable at the normal retirement age of 65....The Company should of already sent you that info, if not get an estimate every year.. I am surprised that they haven't had a second round of Buy Outs yet, guessing they are waiting who bails in the first quarter of next year...

As stated before project transformation is not yet completed...there will be a downsizing of the Corporate and Management positions...The Peter Principle is now in affect...Those partners that are not producing will be given an offer that they cannot refuse. Those higher end executives may be protected with their "golden parachutes"...
A lot of them are still young so are easily controlled or replaced, if demoted they will simply quit and take home Millions with a severance settlement...with their previous pension years vested and intact...
 

jmsan27

Member
This is pretty much on par with what I expected. My holdings just allowed me to reach max OIP and that'll push me above the 7% instant pay bump. With a decent merit increase I should be well over a 10% increase in base salary. With no OIP moving forward, I don't see many people keeping stock anymore. There will probably be a massive stock dump by sups after Dec. 1st. Our MIP goes down in percentage, but 10% of my new base salary won't be to shabby considering. It's a wash and more cash in pocket. 22 in and 18 to go!
Plus you can put that extra cash into the DESPP at a 5% discount if you do want the stock still!!!!
 

John D

Active Member
Was there any mention of the mini/max salary range??? It sounds like a lot of people will be pushed over the 130% comp ratio.

There is an FAQ on upsers. Says you will get the bump regardless of ratio, including raise in April. Also states they will be looking at adjusting the bands nexzt year.
 

Mplayers2006

The Most Hated Troll 😈
Here is the formula if you want to calculate your monies before dec 16.
FYI: In order to calculate the most accurate total target compensation based on your OIP. you must wait until dec 1. (4pm) to get the average stock price jan. 1- dec. 1 2022.

Ownership incentive(OIP): 2022/2021 eligible holdings (which ever is highest of the two) x average stock price x ownership incentive target (1.035 or 1.03 or 1.0xx)

Background:
Bonus: your 2023 target bonus amount(10%= sups, 20=mgr). All bonuses Must be enter in as 3 significant figures or your numbers will be off. For example; 34% = 1.34 and 17%=1.17
Base: current base salary
Total: current base x current bonus target (1.17) + ownership incentive


Inputs:
Bonus= 1.10
Base= 55,000
Total= 55k*1.17=64,350+1,000=65,350

Formula:

Bonus x base=total

The below formula will give you the new base amount you will receive in 2023.

total/bonus = Base(x)

65,350/1.10 = 59,409.09
 

Whatthewhat

Well-Known Member
Has anyone seen or heard if the OIP get recalculated each year based on that years current shares you own? If you sell does it go down? Does it go away completely in 2024?
Can’t imagine them paying OIP after there isn’t any RSU held back or if you sold shares.
 

John D

Active Member
Has anyone seen or heard if the OIP get recalculated each year based on that years current shares you own? If you sell does it go down? Does it go away completely in 2024?
Can’t imagine them paying OIP after there isn’t any RSU held back or if you sold shares.
No more OIP starting Jan 1 2023. You sell after Jan 1st and it will have to impact on future bonus etc.
 

Mplayers2006

The Most Hated Troll 😈
No more OIP starting Jan 1 2023. You sell after Jan 1st and it will have to impact on future bonus etc.

This is correct. Now you can move your risky stock options into a safer form of investment. It really is a win if you are already at your max OIP payout.
 

Whatthewhat

Well-Known Member
So in 2024 they’ll no longer pay out OIP?
do we lose that portion in 2024 causing our salary to be reduced by whatever % we received in 2023? Or does it lock in permanently?
 

Mplayers2006

The Most Hated Troll 😈
So in 2024 they’ll no longer pay out OIP?
do we lose that portion in 2024 causing our salary to be reduced by whatever % we received in 2023? Or does it lock in permanently?
Yes, no OIP in 24.

It is locked in permanently, and your merit increases will be based on your current participation. Which is good if you are already at your max OIP payout.
 

Whatthewhat

Well-Known Member
The more percentage you get from the OIP, added to your salary the higher you’ll be in your pay band making yearly raises smaller or not happen at all. This will give the newer employees greater growth and help stagnant the veterans even more
 

Mplayers2006

The Most Hated Troll 😈
The more percentage you get from the OIP, added to your salary the higher you’ll be in your pay band making yearly raises smaller or not happen at all. This will give the newer employees greater growth and help stagnant the veterans even more

that’s not fully correct. You will continue to get the same increases as scheduled. Even if you’re over the max. This “re-distribution” will place a number of people over the max, but it should not effect their merit % increase. There will be an initiative to fix the employees over 130% compa next year.

In 2023, there will be a team who job it is to look into our salary groups and see if we’re being paid relative to the market ( which we’re not). So this can lead to an actual salary increase in the near future.
 

Mplayers2006

The Most Hated Troll 😈
Curious as well. I am newly promoted, so I will have nothing to compare it to.
the change benefits everybody, but it benefits newly promoted sups and individuals who sell their stock every year the least. Since you have zero OIP. You can easily calculate your new base salary today. If you are a supervisor, then your set up would look like below

Total compensation amount/1.10 = new base salary
 
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