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Hello, I have received an offer from Southwest Airlines as a Associate Technology Analyst with their direct college hire program. Will be graduating in May with a degree in MIS and also have internships experience as a Business Systems analyst intern. The salary compensation started off at 66,500 but was looking for the 75k range and they got back to me saying the best they can do is 68,500. They also have a 401k company match up to 9.3%. Do you think this is a solid offer for this job market?
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Let the partners take one first. Then we’ll talk. Personally, I still have student loans - it would take a lot for me to be willing to take a pay cut to help a firm that would replace me in a heartbeat if it was in their best interest to do so.
Partners took a 20% cut for the rest of the year, all other employees took a tiered pay cut up to 20% for the next four months, about 10% of employees were furloughed for 90 days, and about another 8% of employees went on a reduced schedule.
Arne Sorenson (Marriott CEO) has a net worth over $95m, his salary is $1.3m. So 1 year of his salary is equivalent to 1.4% of his net worth.
To answer your question, yes, I would take a 1.4% temporary pay cut if it meant saving jobs.
You're asking if staff want to take a pay cut to help their company? He's the CEO...
Mostly agree though I think it makes more sense to trim the fat before disrupting your pipeline (interns and new hires)
The day I am asked to take a pay cut is the day I immediately start working 9-5 only and look for a new job
Can someone explain to me how what is (so far) a two-week shutdown could have already impacted us so dramatically to where we are talking about staff people taking a pay cut?
It’s because people are worried that the issue could go on much longer, and even if it’s not a complete shutdown, there’ll be less consumer activity => Economic recession. Our clients are tightening their spending (either because sales is already hit, or to prepare for a potential recession) which means there’ll less work for us as well. It’s honestly the possibility of recession that is going to cause the actual recession.
I would be willing to take a pay cut if it meant the people on my team stay employed. I think this process makes sense on a team by team basis. It is kind of heard for me to wrap my mind around taking a pay cut to keep someone employed that I have never met.
On a related note I would happily cut down on expenses to help keep anyone employed.
It’s not my firm. Not taking a pay cut to line partners’ pockets.
Someone please say this won't be necessary.
Looks like it was necessary.
Only with a clear contact that says I get current pay plus bonus as soon as firm revenue returns to PY levels
Exec level / partner level? Or any?
EY’s cutting PPMD salaries. Currently no pay cut for staff level, but there’s no PBB this year.
Performance based bonuses
Wouldn’t give up a single penny.