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<blockquote data-quote="squeekywheel" data-source="post: 243529" data-attributes="member: 4999"><p>With the changes in the MIP program and the addition of the LTIP many partners I have spoken with feel they are now only employees. 2006's MIP was cut 1/3 from the previous year (2.4 -> 1.6). Ok, I'm not happy but I could accept it better if the top management at the company 'shared' in this event.</p><p> </p><p>Well they did to a certain extent but then the top 600 or so managers received the new LTIP. I don't know the exact number but I have heard rumor that the LTIP was around 110% of their <strong>yearly</strong> salary. So a top 2+ unit manager would have lost 2 x .8 = 1.6 months salary in MIP, but gained 1.10 x 12 = 13.2 months salary in LTIP for a net gain of 11.6 months salary. (I sure their monthly salary is a lot larger than mine!)</p><p> </p><p>And to add insult to injury, the 'L' in LTIP is supposed to mean long term at 3 years where the MIP award vests over 5 years. So after 3 years, while I'm still waiting for 40% of my RSUs to vest, the top management could have sold of all their RSUs from the LTIP. Doesn't this sound like Enron?</p><p> </p><p>pretzel_man, am I missing something here?</p></blockquote><p></p>
[QUOTE="squeekywheel, post: 243529, member: 4999"] With the changes in the MIP program and the addition of the LTIP many partners I have spoken with feel they are now only employees. 2006's MIP was cut 1/3 from the previous year (2.4 -> 1.6). Ok, I'm not happy but I could accept it better if the top management at the company 'shared' in this event. Well they did to a certain extent but then the top 600 or so managers received the new LTIP. I don't know the exact number but I have heard rumor that the LTIP was around 110% of their [B]yearly[/B] salary. So a top 2+ unit manager would have lost 2 x .8 = 1.6 months salary in MIP, but gained 1.10 x 12 = 13.2 months salary in LTIP for a net gain of 11.6 months salary. (I sure their monthly salary is a lot larger than mine!) And to add insult to injury, the 'L' in LTIP is supposed to mean long term at 3 years where the MIP award vests over 5 years. So after 3 years, while I'm still waiting for 40% of my RSUs to vest, the top management could have sold of all their RSUs from the LTIP. Doesn't this sound like Enron? pretzel_man, am I missing something here? [/QUOTE]
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