MULALLY OUT-EARNED TOYODA AND GHOSN COMBINED IN 2009
A new report that focuses on automaker chief executive officer compensation has suggested that Ford’s high-profile CEO, Alan Mulally, managed to bring home more compensation in 2009 than both Akio Toyoda and Carlos Ghosn – combined.
The report, compiled by Bloomberg, refers only to the executives’ pay as “compensation,” but falls short of differentiating between salary and other forms of compensation. Leftlane issued a detailed report in mid-May that outlined the potential for major payouts to auto industry executives for 2009, in which we explained the reasons for such dramatic pay increases.
The Leftlane report discussed the fact that many auto executives were poised for major net-earnings following strong recoveries at the companies they represented due to their heavy compensation bias in stock options. Alan Mulally, for example, took only a $1 annual salary for 2008, but his stock options were issued when Ford stock was trading at $1.96 – compared to a value roughly five to six times that figure today.
As a result, the value of Mulally’s stock options provided for a healthy total compensation, especially when compared to Toyoda and Ghosn. Bloombergsays that Toyoda received approximately $1.1 million in total compensation for 2009, a number reduced due to the recall struggles that battered the beleaguered automaker. Carlos Ghosn, Renault-Nissan CEO, earned just shy of $10 million for 2009, with Honda’s CEO, Takaobu Ito earning just under $1.3 million.
the average compensation for automotive CEOs came in at roughly $12 million for 2009, based on a study by Towers Watson & Co., a U.S. benefits consulting firm. Towers Watson says that Mulally led all CEOs with $17.9 million in compensation.
source: leftlanenews
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In: Business Stories · Tagged with: 10 Million, Akio Toyoda, Alan Mulally, Annual Salary, Auto Executives, Auto Industry, Bloomberg, Carlos Ghosn, Ceos, Chief Executive Officer, Consulting Firm, Forms Of Compensation, High Profile, Industry Executives, Profile Ceo, Renault Nissan, Salary Information, Six Times, Stock Options, Watson
What Not to Say During a Job Interview
Don’t say: “My current boss is horrendous.”
Why: It’s unprofessional. Your interviewer might wonder when you’d start bad-mouthing her. For all you know, she and your current boss are old pals.
Instead say: “I’m ready for a new challenge” or a similarly positive remark.
Don’t say: “Do you think I’d fit in here?”
Why: You’re the interviewee, not the interviewer.
Instead say: “What do you enjoy about working here?” By all means ask questions, but prepare ones that demonstrate your genuine interest in the company.
Don’t say: “What are the hours like?” or “What’s the vacation policy?”
Why: You want to be seen as someone who focuses on getting the job done.
Instead say: “What’s the day-to-day like here?” Then, if you’ve really jumped through every hoop and time off still hasn’t been mentioned, say, “Can you tell me about the compensation and benefits package?”
source: realsimple.com
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In: Job Search Advice · Tagged with: Boss, Compensation And Benefits, Current, Genuine Interest, Interview Don, Interviewee, Interviewer, Job Interview, New Challenge, Old Pals, Package Source, Salary Information, Time Off, Vacation Policy
Federal Employees Retirement Pension Calculation
The basic annual CSRS (Civil Service Retirement System) annuity is expressed as a percentage of your highest 3 years average salary.
Your high 3 percentage is determined by a three-part formula based on your length of creditable service. You earn:
- 1.5% x High-3 x first five years of service
- plus 1.75% x High-3 x next five years of service
- plus 2.0% x High-3 x all years of service over 10
Thus, after 10 years of service you have earned 16.25% of your “high three” and after 30 years you have earned 56.25% (16.25% + 2% x 20 = 56.25%).
By law, the percentage is limited to 80% (reached after 41 years and 11 months of service)however, unused sick leave can be used in the formula to produce a greater result.
Your unused sick leave is converted into months and days and added to your other service. Credit is given for whole months only, (30 days). However, the time representing days of unused sick leave is not counted toward your “high 3” years average salary or for establishing eligibility for retirement. (see the following examples)
| Example 1: | |
| Age | 55 |
| High-3 | $60,000 |
| Years of Service | 30 years |
| .015 x 5 x $60,000 | = $4,500 |
| .0175 x 5 x $60,000 | = $5.250 |
| .02 x 20 x $60,000 | = $24,000 |
| $33,750 (56.25% of High-3) |
| Example 2: | |
| Age | 60 |
| High-3 | $50,000 |
| Years of Service | 20 years |
| .015 x 5 x $50,000 | = $3,750 |
| .0175 x 5 x $50,000 | = $4,375 |
| .02 x 10 x $50,000 | = $10,000 |
| $18,125 (36.25% of High-3) |
source: myfederalretirement
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In: Careers · Tagged with: 10 Years, 3 Years, Average Salary, Civil Service Retirement, Civil Service Retirement System, Creditable Service, Csrs Retirement, Federal Employees Retirement, Federal Retirement, First Five Years, Next Five Years, Pension Calculation, Retirement Annuity, Retirement Calculation, Retirement Pension, Salary Information, Service Retirement System, Sick Leave, Whole Months
