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TygrBright

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Member since: 2001
Number of posts: 17,532

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Next week, Ima march in to my boss and say...

"Look, I know you hired me on the representation that I have the skills to do this job competently, and that I have the integrity and character to apply those skills diligently and conscientiously. And I know we discussed at my interview that the reason I wanted this job is because I have a passion for this kind of work, and that I'm eager to apply myself to help this company exceed its plans, goals, and expectations...

...but yer gonna have to wash that s*** out, because baby, there ain't NOTHIN' I can do for ya unless you dangle "incentives" worth seven or eight times my base salary in front of me, and make sure that I end up taking home at least five times that base salary amount in cash, assets, and benefits. Nothin'. Sorry.

I mean, really, how can you POSSIBLY expect me to perform up to and/or above the standards of everyone else in this business, without that kind of compensation plan?"

And I fully expect my boss to give me the stink eye and say, "It's Monday, Bright, and I'm not in the mood for jokes. Now go straighten out that database issue and get the company Facebook page switched over to the new whatchamacallit, or there'll be no pizza for you at the monthly staff birthday party."

Excerpts from Manulife Financial Shareholder Proxy Circular
For the year 2011

Donald Guloien, President & CEO
Base salary: $986,550; Share-Based Awards: $2,711,280; Option-Based Awards: $2,711,280; Non-Equity Incentive Plan Compensation: $1,584,435; Pension Value: $568,300; Other Compensation: $103,307
TOTAL COMPENSATION: $8,665,152

Michael W. Bell, Senior Executive Vice President & CFO
Base salary: $690,585; Share-Based Awards: $1,478,880; Option-Based Awards: $1,478,880; Non-Equity Incentive Plan Compensation: $499,097; Pension Value: $112,700; Other Compensation: $835,696
TOTAL COMPENSATION: $5,095,838

Paul Rooney, Senior Executive Vice President, Canadian Division
Base salary: $625,000; Share-Based Awards: $900,000; Option-Based Awards: $900,000; Non-Equity Incentive Plan Compensation: $534,240; Pension Value: $354,200; Other Compensation: $58,307
TOTAL COMPENSATION: $3,371,747

Warren Thomson, Senior Executive Vice President and Chief Investment Officer
Base salary: $641,257; Share-Based Awards: $887,328; Option-Based Awards: $887,328; Non-Equity Incentive Plan Compensation: $549,271; Pension Value: $103,000; Other Compensation: $66,112
TOTAL COMPENSATION: $3,134,296

James Boyle, Senior Executive Vice President, U.S. Division
Base salary: $641,290; Share-Based Awards: $887,328; Option-Based Awards: $887,328; Non-Equity Incentive Plan Compensation: $480,612; Pension Value: $96,200; Other Compensation: $0
TOTAL COMPENSATION: $2,992,758

(And that's just what they're publicly willing to allow the accounting to show...)


So, tell me, fellow DUers: How do you think YOUR boss would respond to being told that s/he can't possibly get top-level performance from you unless they "incentivize" your compensation to five or six times your base salary?

Or, conversely, if you are yourself a boss, tell me when you're going to implement such a compensation plan, because obviously, your employees can't possibly do their jobs up to industry standards without it?

curiously,
Bright





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