Coolzero00
New Member
So is is this in lieu of our annual raises?
"Pay Mix" update...
- Thread starter OrionIsDaddy
- Start date
TearsInRain
IE boogeyman
I prefer to just get paid salary, bonuses are stupid tricks imo
LongTimeComing
Air Ops Pro
It'll be your new increase beginning Jan 1, then normal raises in April. So, no.
It's pretty hard to beat their numbers
Whatthewhat
Well-Known Member
With the company giving such large raises and the new 401k pay out, that will mean 15-20+% for every Supervisor and above.. they’re is no way possible the company or stockholders will allow the current staffing numbers not to be chopped down considerably. Take your bump in pay and stash it away, we’ll likely need it to cover expenses in the near future
Read between the lines and understand how corporations make profits. Staffing is the # 1 expense a company has!
Read between the lines and understand how corporations make profits. Staffing is the # 1 expense a company has!
But how much money was they putting into your pension plan?
Whatthewhat
Well-Known Member
If it was anywhere close to those numbers, over 25-30 years, we all would be millions at 55.
DELACROIX
In the Spirit of Honore' Daumier
Can define “millions at 55”..?
forward to our 15 / 20 % raise coming this August...
It is not a raise. It is just a re-allocation of funds. Whether it is salary or MIP it’s still the same. They just found a way to give the majority what they want…MORE MONTHLY CASH. I am sure the majority will like it but there will be some that would prefer the regular MIP and it’s future potential value 30 years down the road.
It will have that ripple effect as mentioned on the call!!!! I did not notice what the pay raise is come January. Is it 7% which takes the sup from 17 to 10????? Added with the OIP, not too shabby of a cash bump!!!!!
UPS1907
Well-Known Member
The young people will love the extra $$$ in their check. They have no stock anyway. The middle to old timers get totally screwed with future $$$ that would have been made with the ownership incentive. That's gone forever. One time bump can't replace that money lost.
Whatthewhat
Well-Known Member
The MIP was a bonus. It’s been damn near nothing to a nice bonus like the last 2 years. It’s no longer looked at as a reward for a nice job, it’s part of your salary. They’re required to give it to you every month, that’s a raise
Good point, but you now no longer have to worry too much about the 50% MIP. I could see the old timers being ok. How much more would they make anyway with 2-3 years left. I think this with the 401k will entice the eligible to stay a little longer. It also enables them to juice up their pension a bit
A guy with a monthly 10k salary with a full AIP should see about 1.5k per month increase????
UPS1907
Well-Known Member
Under the old calc. A 100% MIP at 10% would equate to an old 1.2 MIP factor times monthly salary.
Yes, from that POV you are correct….. they are now obligated to pay that going forward!!!!
DELACROIX
In the Spirit of Honore' Daumier
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?
GR8lakes_lifer
New 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!
There must be a lot of IE people in this thread as you don't understand math. A 7% reduction in MIP target does not equal a 7% raise to maintain target salary. The MIP will be applied to a higher base salary, so the percent salary increase would be less to maintain the total.
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