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Redesigned mip
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<blockquote data-quote="susiedriver" data-source="post: 51802"><p>Here is a cut &amp; paste I had from a few years ago describing the MIP: </p><p> </p><p> </p><p>For anyone who doesn't know how this is computed, you first calculate the overall profit of the company, and take 15% of it (unless they've increased this amount). Then take all mgmt (supervisors and managers) salaries summed together (but you count the managers twice - they are called two-unit mgrs, while supervisors are one-unit...more on this in a second). Then divide this total monthly salary into the 15% of profit...you then get the MIP. It's been just over 2 the last couple of years, for easy math, we'll use 2.0 right now. </p><p> </p><p>Now, you have supervisors (one-unit) who will get their Monthly salary * 1 (one-unit) * 2.0 (MIP) = $$$ awarded. </p><p> </p><p>Managers: Monthly salary * 2 (two-unit) * 2.0 (MIP) = $$$ awarded. </p><p> </p><p>Supes make perhaps 4K/month avg, mgrs make say 6K/mo avg. (some more some less - staff level mgrs make more, and get options too). </p><p> </p><p>Next, you have to apply federal/state taxes to those dollar amounts (which effectively cut them nearly in half for most people). The final figure is then divided by the current stock price yielding number of shares "awarded" to each supervisor/manager.</p></blockquote><p></p>
[QUOTE="susiedriver, post: 51802"] Here is a cut & paste I had from a few years ago describing the MIP: For anyone who doesn't know how this is computed, you first calculate the overall profit of the company, and take 15% of it (unless they've increased this amount). Then take all mgmt (supervisors and managers) salaries summed together (but you count the managers twice - they are called two-unit mgrs, while supervisors are one-unit...more on this in a second). Then divide this total monthly salary into the 15% of profit...you then get the MIP. It's been just over 2 the last couple of years, for easy math, we'll use 2.0 right now. Now, you have supervisors (one-unit) who will get their Monthly salary * 1 (one-unit) * 2.0 (MIP) = $$$ awarded. Managers: Monthly salary * 2 (two-unit) * 2.0 (MIP) = $$$ awarded. Supes make perhaps 4K/month avg, mgrs make say 6K/mo avg. (some more some less - staff level mgrs make more, and get options too). Next, you have to apply federal/state taxes to those dollar amounts (which effectively cut them nearly in half for most people). The final figure is then divided by the current stock price yielding number of shares "awarded" to each supervisor/manager. [/QUOTE]
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