Had a center manager tell me that he was going to make less this year than he did as a on car supervisor last year. When they decided to take that large profit from last year and pay everything forward, like buying all the new trucks/ planes/ automated stuff/ buy new companies, it reduced the number that is used to calculate their bonus. Keep your heads down because there is going to be some pissed off managers for the next few weeks when Mrs. supervisor/ Mr. supervisor won't address the needs of your boss because they too are pissed. Lil Johnny won't be attending private school next year. He also mentioned that anyone close to retirement is taking a hard look even if they weren't before. Also, I'm betting this won't affect the CEO getting his bonus when he retires. The top of this company screws its' managers as much as us.
Management upset LMAO
- Thread starter BrownMonk
- Start date
clean hairy
Well-Known Member
Such rough times, they might have to downgrade transportation to a low cost leased Altima!
Might have to get rid of the Country Club membership as well....
Might have to get rid of the Country Club membership as well....
I soooo agree with this.
Boywondr
The truth never changes.
We work for some stellar people don't we?
UnconTROLLed
perfection
sailfish
Master of Karate and Friendship for Everyone
Worked.
detmaintainer
Detroit Maintenance Rat
Had a safety/visibility ride. Sup also mentioned how soft their bonus was. Something about 40% company wide and that’s the second worst anyone has ever seen.
Do you know what they get 40% of?
PASinterference
Yes, I know I'm working late.
Management is more secretive than the Masons. One thing they are good at is keeping a tight lip.
Boywondr
The truth never changes.
The passing score on a GED?
Over70irregs
❤️ MORE 😡 LESS
I’ll worry about their bonus/compensation when they worry about my family time and war torn body.
Heavy Package
Well-Known Member
friend All of them. They are a horrid bunch of people for the most part. Would scare a nest of pit vipers off.
burrheadd
KING Of GIFS
Had a safety/visibility ride. Sup also mentioned how soft their bonus was. Something about 40% company wide and that’s the second worst anyone has ever seen.
I believe it is 40% of "projection". He said something about them exceeding the "projection" significantly but then thy took all of that money and diverted it which caused them to lose 60% in bonus. Again, Abney is retiring soon and I'm guessing it doesn't affect his bonus.
UnconTROLLed
perfection
It's something like a half months salary, at least for ft sups. That's a guess though, from what I remember reading. It is a % of salary though. a 100% mip factor would be the full half for ex
JustAnotherSup
Active Member
MIP Bonus is calculated as followed:
(Total Salary)*(MIP Factor = 40% for 2019)*(A fixed % of Salary based on job level) = Total MIP
That fixed % is 17% for FT Supervisors, 34% for Mid-Managers, 60% for Staff Managers (e.g. your Division Manager), and continues to climb the higher you go.
Total MIP is split between an electable award you get "immediately" and can choose between cash or stock, and RSUs (stock). RSUs take 1 year to vest (previously took 5 years, with 20% vesting per year). Mid-managers and below get half as electable, and half as RSUs. Staff managers and above get a third as electable, and two-thirds as RSUs. Newly promoted "partners" get their first year of MIP 100% in stock.
So an example FT Supervisor making $65,000/year would get a bonus of $4,420 total this year, $2,210 in cash/stock as the electable portion, and $2,210 next year. Or if they had just been promoted, they get the entire bonus in stock. None of this sounds too bad, but it feels bad when you're expecting a bonus that's *at least* double that, all your compensation statements from the company pretend you're getting paid 100% of the target bonus value, and the total compensation really *isn't* that great considering how many hours (and extra days) are put in and how much
is dealt with on a day to day basis compared to a lot of other companies. And it feels even worse when projections for that MIP factor were *well above* 40%, and the MIP factor is based on some fairly subjective things and this year's MIP factor is probably low just to lower retiree (with pensions) compensation and/or set the stage for phasing out MIP and/or to reduce expenses because of money spent elsewhere, as opposed to anything to do with the performance of the company.
AwashBwashCwash
Well-Known Member
So an example FT Supervisor making $65,000/year would get a bonus of $4,420 total this year, $2,210 in cash/stock as the electable portion, and $2,210 next year. Or if they had just been promoted, they get the entire bonus in stock. None of this sounds too bad, but it feels bad when you're expecting a bonus that's *at least* double that, all your compensation statements from the company pretend you're getting paid 100% of the target bonus value, and the total compensation really *isn't* that great considering how many hours (and extra days) are put in and how much
LMAO
DELACROIX
In the Spirit of Honore' Daumier
MIP Bonus is calculated as followed:
(Total Salary)*(MIP Factor = 40% for 2019)*(A fixed % of Salary based on job level) = Total MIP
That fixed % is 17% for FT Supervisors, 34% for Mid-Managers, 60% for Staff Managers (e.g. your Division Manager), and continues to climb the higher you go.
Total MIP is split between an electable award you get "immediately" and can choose between cash or stock, and RSUs (stock). RSUs take 1 year to vest (previously took 5 years, with 20% vesting per year). Mid-managers and below get half as electable, and half as RSUs. Staff managers and above get a third as electable, and two-thirds as RSUs. Newly promoted "partners" get their first year of MIP 100% in stock.
So an example FT Supervisor making $65,000/year would get a bonus of $4,420 total this year, $2,210 in cash/stock as the electable portion, and $2,210 next year. Or if they had just been promoted, they get the entire bonus in stock. None of this sounds too bad, but it feels bad when you're expecting a bonus that's *at least* double that, all your compensation statements from the company pretend you're getting paid 100% of the target bonus value, and the total compensation really *isn't* that great considering how many hours (and extra days) are put in and how much
By the way thanks for the explanation....Questions:
Does RSU (Restricted Stock Units) and your MIP included with your last 5 year final salaries to calculate your total retirement benefit?
What happens to management's (RSU) when the UPS Retirement Plan is frozen in 2023?
