Guess i woke up in an inspiring mood but just thought of something. Im pretty sure the announcement is going modify MIP in sone way. However at the same time what are the changes you think she will also announce some kind of cash bonus for cost of living/inflation. Kind of how we got a couple years ago. Could lighten the blow of losing MIP
"Pay Mix" update...
- Thread starter OrionIsDaddy
- Start date
DELACROIX
In the Spirit of Honore' Daumier
The statement released on UPSers website reads "there will be no change in target compensation" and she said more money in our pockets. So, I guess MIP will reduce , salary will increase by a bit and ownership incentive will increase, this way the target compensation will remain the same but the company will have to pay us less since most of us won't have enough stocks to capture the full benefit of ownership incentive.
APeonInALandOfCorpLackies
Member
This goes back to what I originally thought. They’ll reduce MIP to 10/20/30 instead of 17/34/51.
But, because some of that reduction will go to regular salary they’ll have to adjust the midpoint slightly (because those at 130 would be “overcap”).
Only those at the very bottom of the range might get a slight bump if the addition to salary if after they add the redistributed MIP amount they’re below the new bottom (very very unlikely).
1
10, 20, 30 and 35% of annual salary for new MIP targets (down from 17,35, 60 and 75% going up to Band 50s) would pretty much equalize out with target salary if you use an MIP factor of 80% - the historical average, if salaries were raised 5,10, 20 and 25% in January (and merit increase is still received in April.) More money upfront and nice round numbers which makes it easy to explain at an MIP of 80%. Management would lose out in that scenario if MIP is over 80% and make out if it is less than 80%.
The Total Rewards Portal clearly states(when you do the math) that the Target MIP Award is 100%, not 80%. So if they are saying there will be no change to target compensation it will be interesting to see how this is going to play out Thursday.
I'm curious to see how they are going to get screwed today.........Tick, tick...tick....
Pretty confident it will be this:
Supervisor: 10
Manager: 20
District staff manager: 55
On average, managers will see a 10% raise in salary to maintain the same total target compensation, for example. Losing 14% in MIP, the other 4% is made up in 401k match and retirement contribution and the increase in Ownership incentive.
Supervisor: 10
Manager: 20
District staff manager: 55
On average, managers will see a 10% raise in salary to maintain the same total target compensation, for example. Losing 14% in MIP, the other 4% is made up in 401k match and retirement contribution and the increase in Ownership incentive.
DELACROIX
In the Spirit of Honore' Daumier
Most will grin and bear it...there might be a few malcontents or free thinkers here and there that didn’t drink the corporate Kool-aid...
Writing on the Wall though...
APeonInALandOfCorpLackies
Member
It’s a contract year, so traditionally our things get “enhanced” to make up for changes from that.Most will grin and bear it...there might be a few malcontents or free thinkers here and there that didn’t drink the corporate Kool-aid...
Writing on the Wall though...
It really depends on the individual. People that have been here for a long time may get more in retirement benefits (pension, extra 401k, etc) that it might just be
. For folks without the tie in it might be because maybe it’s irrelevant if they’re getting a bit more pay and a little less stock.At the end of the day, UPS is a for profit company and that’s why their decisions will always be company first. Anyone that thinks otherwise isn’t drinking the koolaid, they’re full blown delusional.
DELACROIX
In the Spirit of Honore' Daumier
It’s a contract year, so traditionally our things get “enhanced” to make up for changes from that.
It really depends on the individual. People that have been here for a long time may get more in retirement benefits (pension, extra 401k, etc) that it might just be
At the end of the day, UPS is a for profit company and that’s why their decisions will always be company first. Anyone that thinks otherwise isn’t drinking the koolaid, they’re full blown delusional.
It is just a ploy, a gimmick..
With this coming year how can they ask the Union for concessions if their own Management partners are living high on the hog.
Gutting the little fish is a ways to the means.
They just announced the rate increases for 2023.. (6.9) % add that to the increasing surcharges and you are probably looking at a nearly (10) % increase in shipping rates.
Do the math...
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TearsInRain
IE boogeyman
- OIP rolled into salary
- MIP decreased, rolled into salary
- effective Jan 2023
- thanks for playing goyim, no refunds
LongTimeComing
Air Ops Pro
And 2023 merit raise still happening.
And all future lower MIPs 100% cash electable.
No more RPUs.
2023 MIP stock portion vested immediately.
And all future lower MIPs 100% cash electable.
No more RPUs.
2023 MIP stock portion vested immediately.
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Is that good or bad?
LongTimeComing
Air Ops Pro
Good-ish. Nothing spectacular. Not terrible.
Unknown/unsure
Member
So what exactly are the raise percents?
LongTimeComing
Air Ops Pro
7%/14% + whatever ownership incentive you have when calculated
