new compensation meetings

Since: Mar 12

Location hidden

#166 Jul 9, 2012
Superstar wrote:
<quoted text>
Eventually the "co-manager" or "store leader" would be what a store manager will be called. Much like the exa to asm transition next year. 2015 would be my guess.
Nope.......the point is if they are considering ELIMINATING a job code or position, the point of wasting time on a job code that is supposedly disappearing is pointless......many things have changed withe "The Plan" and will continue to change as we get closer to election day which will determine our countries economy moving forward....trust me they have more then just one plan. Corporate IS waiting to see how the elections play out and who they can and cannot play ball with.....this is bigger then just mere talk of salaries.
peasant

Phoenix, AZ

#167 Jul 9, 2012
MGTSF wrote:
This falls in line with the conference call i overheard on monday. Salary for SM and EXA will change. I doubt lower employees except for MGTs will be changed in my district. Clerks are union here.
Walgreens has union workers?? Where do I sign up?

Since: Feb 12

Location hidden

#168 Jul 9, 2012
My district is considered a tier 2 market for cost of living.Here is what I have been told so far for each volume of stores.

Tier 1-Starts at 55k cap at 70 k max bonus 9k
Tier 2-starts at 60k cap at 75k max bonus 12k
Tier 3-starts at 65k cap at 80k max bonus 24k
tier 4-? We dont have any.

Here is one change.If a manager is currently above the cap they will not be given a pay cut.They wont get any more raises though until Cost of living raises make the max more then they are currently making.They are also giving one last pay raise to these managers in august and then they are done.
Really

Sayre, PA

#169 Jul 9, 2012
xvef wrote:
My district is considered a tier 2 market for cost of living.Here is what I have been told so far for each volume of stores.
Tier 1-Starts at 55k cap at 70 k max bonus 9k
Tier 2-starts at 60k cap at 75k max bonus 12k
Tier 3-starts at 65k cap at 80k max bonus 24k
tier 4-? We dont have any.
Here is one change.If a manager is currently above the cap they will not be given a pay cut.They wont get any more raises though until Cost of living raises make the max more then they are currently making.They are also giving one last pay raise to these managers in august and then they are done.
Those numbers look great and all,but it will depend on the part of the country you are in.The cost of living is different everywhere so the base pay will be different depending on where you are.
Really

Sayre, PA

#170 Jul 9, 2012
RickyFlair wrote:
<quoted text>
Nope.......the point is if they are considering ELIMINATING a job code or position, the point of wasting time on a job code that is supposedly disappearing is pointless......many things have changed withe "The Plan" and will continue to change as we get closer to election day which will determine our countries economy moving forward....trust me they have more then just one plan. Corporate IS waiting to see how the elections play out and who they can and cannot play ball with.....this is bigger then just mere talk of salaries.
That's not true because they spent alot of time and money on converting simms over to SLT and now to SFL. They even had a district supervisor for those positions and that would have cost even more money.
Nick

United States

#171 Jul 10, 2012
xvef wrote:
My district is considered a tier 2 market for cost of living.Here is what I have been told so far for each volume of stores.
Tier 1-Starts at 55k cap at 70 k max bonus 9k
Tier 2-starts at 60k cap at 75k max bonus 12k
Tier 3-starts at 65k cap at 80k max bonus 24k
tier 4-? We dont have any.
Here is one change.If a manager is currently above the cap they will not be given a pay cut.They wont get any more raises though until Cost of living raises make the max more then they are currently making.They are also giving one last pay raise to these managers in august and then they are done.
Here's a thought. Do you think with this structured pay system, Wag will want to move SM that are above the cap to a store that would fit their pay? For instance, a SM making tier 3 pay in tier 1 store would get moved to a tier 3 store. Which leads to another question, what if the district does not have a tier 3 store? Will Wag want the SM to move to a store that would support their salary even if that means a different district? With all the cuts, I could see Wag doing something like this.

Since: Jul 12

Location hidden

#172 Jul 10, 2012
xvef wrote:
My district is considered a tier 2 market for cost of living.Here is what I have been told so far for each volume of stores.
Tier 1-Starts at 55k cap at 70 k max bonus 9k
Tier 2-starts at 60k cap at 75k max bonus 12k
Tier 3-starts at 65k cap at 80k max bonus 24k
tier 4-? We dont have any.
Here is one change.If a manager is currently above the cap they will not be given a pay cut.They wont get any more raises though until Cost of living raises make the max more then they are currently making.They are also giving one last pay raise to these managers in august and then they are done.
The cap for a tier 4 store is 105k with a target bonus of 40k. The bonuses are targets, not maximums. You can possibly earn 150% of your target bonus if you knock your goals out of the park. There are 4 cost of living zones, so you could fall into one of eight different store tiers. 80% of the company is in zone 2. CLs are going to be encouraged to step down to a lower tier store by some DMs since they will be out 60% of the time. They are being bonused on the community as a whole so it doesn't matter what tier store they are at. This will allow others who would never get the chance to earn tier 3 or 4 bonus the opportunity. Also, about 5-10% of managers will get a one time settlement for the loss of bonus. If you made tier 3 or 4 bonus before ESI but now have gone down a tier you can figure on getting roughly 1/3 of your previous 3 year average bonus.

Since: Mar 12

Location hidden

#173 Jul 10, 2012
Really wrote:
<quoted text>That's not true because they spent alot of time and money on converting simms over to SLT and now to SFL. They even had a district supervisor for those positions and that would have cost even more money.
Sorry to break it too you, but it is true.....because with the track record as of late of Wags spending money on stupid, useless stuff doesn't happen right? Most companies will never admit they wasted any time, effort or money on stupid crap that may change again and again over time right?
Really

Sayre, PA

#174 Jul 10, 2012
RickyFlair wrote:
<quoted text>
Sorry to break it too you, but it is true.....because with the track record as of late of Wags spending money on stupid, useless stuff doesn't happen right? Most companies will never admit they wasted any time, effort or money on stupid crap that may change again and again over time right?
You just proved my point. They have been doing it more and more as of late so thank you.
Really

Sayre, PA

#175 Jul 10, 2012
RickyFlair wrote:
<quoted text>
Sorry to break it too you, but it is true.....because with the track record as of late of Wags spending money on stupid, useless stuff doesn't happen right? Most companies will never admit they wasted any time, effort or money on stupid crap that may change again and again over time right?
Besides that they will be able to tell the stock holders that it was all part of the transition and needed to be done to avoid any disruptions in the stores.

Since: Feb 12

Location hidden

#176 Jul 10, 2012
form_276 wrote:
<quoted text>
The cap for a tier 4 store is 105k with a target bonus of 40k. The bonuses are targets, not maximums. You can possibly earn 150% of your target bonus if you knock your goals out of the park. There are 4 cost of living zones, so you could fall into one of eight different store tiers. 80% of the company is in zone 2. CLs are going to be encouraged to step down to a lower tier store by some DMs since they will be out 60% of the time. They are being bonused on the community as a whole so it doesn't matter what tier store they are at. This will allow others who would never get the chance to earn tier 3 or 4 bonus the opportunity. Also, about 5-10% of managers will get a one time settlement for the loss of bonus. If you made tier 3 or 4 bonus before ESI but now have gone down a tier you can figure on getting roughly 1/3 of your previous 3 year average bonus.
You are correct about bonuses,the true max is as follows

Tier 1-9k
Tier 2-18k
Tier 3-37.5k

I guess I am one of the lucky ones who will be getting that one time payment(Or unlucky depending how you look at it).It was explained to me this way.I will use tier 2 as an example

3 year average bonus 20k
They take - 5k off that
------
15K
target bonus - 12k(tier 2 target)
-------
3,000
x .75
------
One time payout of $ 2250 in FY 2013
Really

Sayre, PA

#177 Jul 10, 2012
RickyFlair wrote:
<quoted text>
Nope.......the point is if they are considering ELIMINATING a job code or position, the point of wasting time on a job code that is supposedly disappearing is pointless......many things have changed withe "The Plan" and will continue to change as we get closer to election day which will determine our countries economy moving forward....trust me they have more then just one plan. Corporate IS waiting to see how the elections play out and who they can and cannot play ball with.....this is bigger then just mere talk of salaries.
OK sure. The election has everything to do with what they are doing. If that's the case we had better watch out.
Fluffy One

York, PA

#178 Jul 10, 2012
The districts or markets are considered ZONES (cost of living in your area). The stores are Broken into TIERS depending on their sales. The Paper that I had gone over with my boss say the caps are
Tier 1= 75k
Tier 2= 85k
Tier 3=95k
Tier 4=105k
xvef wrote:
My district is considered a tier 2 market for cost of living.Here is what I have been told so far for each volume of stores.
Tier 1-Starts at 55k cap at 70 k max bonus 9k
Tier 2-starts at 60k cap at 75k max bonus 12k
Tier 3-starts at 65k cap at 80k max bonus 24k
tier 4-? We dont have any.
Here is one change.If a manager is currently above the cap they will not be given a pay cut.They wont get any more raises though until Cost of living raises make the max more then they are currently making.They are also giving one last pay raise to these managers in august and then they are done.
Charlie W

Topeka, KS

#179 Jul 10, 2012
I wonder if I'll get a bump in salary for having an MBA?

Since: Feb 12

Location hidden

#180 Jul 10, 2012
lol why would you get a raise for having an MBA? You must be new to the company.
Charlie W

Topeka, KS

#181 Jul 10, 2012
I should at least get moved to the tier 4 cap and a guaranteed bonus, I worked hard for it. It's time to take it easy now and let the money flow in.
life's too short for Wags

Austin, TX

#182 Jul 10, 2012
xvef wrote:
<quoted text>You are correct about bonuses,the true max is as follows

Tier 1-9k
Tier 2-18k
Tier 3-37.5k

I guess I am one of the lucky ones who will be getting that one time payment(Or unlucky depending how you look at it).It was explained to me this way.I will use tier 2 as an example

3 year average bonus 20k
They take - 5k off that
------
15K
target bonus - 12k(tier 2 target)
-------
3,000
x .75
------
One time payout of $ 2250 in FY 2013
Thanks for posting.
Registered MGR

Topeka, KS

#183 Jul 10, 2012
Does anyone know how registered store managers will be affected?
Squishy

Bloomfield Hills, MI

#184 Jul 11, 2012
I know u fluffy!

Since: Mar 12

Location hidden

#185 Jul 11, 2012
Really wrote:
<quoted text> OK sure. The election has everything to do with what they are doing. If that's the case we had better watch out.
For those in the know, yes it does have alot to do with it. Major businesses do and will make decisions based on what political sides they take in the market. And if you are that blind to see that Wasson is knee deep in Obama slime, you sir have the problems along with anyone else who seems to be wearing the horse blinders.

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