Pay structures

[The Cosworth]

Salary + bonus based on how the department performs financially.

[max_boost]

Lunch boxes

[killramos]

You guys are getting paid?

[ExtraSlow]

It's a near fucking thing, I need a new job.

Actually have some movement on that. Everyone cross your fingers for me.

[Pacman]

I've been in sales for my whole career since finishing university. Started off on 100% commission, then went to base + commission and currently on base+bonus.

[StreetRacerX]

Salary+dividends

[SKR]

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That's pretty silly. It should be more transparent.

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If you are busy it might work, but yeah tha5s grossly nontransparent.

I've got a number in my head that I want to make in a month, and I guess if I hit that number then it doesn't matter what it could have been. Or so I keep telling myself. But it is a hard thing to reconcile.

My supervisor either quit or was fired today, so that is going to complicate things. It'll probably mean working exclusively away from home, which is the absolute opposite of what brought me here in the first place. Like I say, I don't know how long I'll put up with it.

[ercchry]

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Salary+dividends

If you own the business, it’s 100% “eat what you kill”

I’ve done all the things, currently base+commission+bonuses+unquestioned expense account… and I must say, it’s been great. Perfect combo of being compensated for your contributions and low stress of not having to make payroll or any other shit that usually comes with variable comp

[ThePenIsMightier]

Every 15 minute increment I work is paid for, with the expectation that I work somewhere between 40 and 50 hours per week. In addition to that, I've been lucky enough to snag Restricted Share Units to that may perish or may be extremely lucrative in the emerging energy economy, depending on several orders of complex factors.

For example, I possibly expected to be a rich cunt by now; however, things seem to either be delayed, or in in a situation where the RSU's are essentially valueless. That remains to be seen. At least I'm in it, because if you're not in it, you can't win it.

I'll remain grateful that either way, I'm in a position that I'm not reliant on a certain situation occurring. Because holy fuck - there are people far better off than I am who may still end up losing all their shit. Allah willing, I seem to remain insulated from that, and for that, I'm grateful.

[Buster]

Spread over risk free rate.

[CompletelyNumb]

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I currently get paid a salary, plus a percentage of the final discounted job ticket. It's a fucking dumb way of getting paid and I don't know how long I'm going to put up with it. We had a job a while ago and the field ticket came out to $16,000. Nice enough for a day's work. The trouble is that the ticket got discounted in town to $6000, so now instead of making a dollar, I make 37 cents.

The even sweeter part of the deal is that no one tells us what the final ticket is, and jobs done this month are paid at the end of next month. So I can do that $16,000 job on July 1, have it discounted in town to $6000, no one will tell me they've done it, and I won't know it until I see my paycheck on August 31. I don't know how anyone can live like that. The advice I get from the people I work with is "just don't think about it."

Well this brings me back to my wireline days in southern alberta. Fill out the ticket as per book, consultant signs it, 2 months later you find out how much you get paid. The real fun ones were the tickets discounted to $0 because the oil company bought multiple services from the same company and got a kickback in the form of discounts.

[Pacman]

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Well this brings me back to my wireline days in southern alberta. Fill out the ticket as per book, consultant signs it, 2 months later you find out how much you get paid. The real fun ones were the tickets discounted to $0 because the oil company bought multiple services from the same company and got a kickback in the form of discounts.

Wonder why they didn't just take a small amount from each product line vs all of it from Wireline? We have multiple divisions (including wireline) at the company I work for and we get each product line to provide their own discount vs having one group take the massive gross margin hit.

[SKR]

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Wonder why they didn't just take a small amount from each product line vs all of it from Wireline? We have multiple divisions (including wireline) at the company I work for and we get each product line to provide their own discount vs having one group take the massive gross margin hit.

Because people who run oilfield service companies are fuckin dumb, and so are their customers.

[vengie]

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Wonder why they didn't just take a small amount from each product line vs all of it from Wireline? We have multiple divisions (including wireline) at the company I work for and we get each product line to provide their own discount vs having one group take the massive gross margin hit.

Margin on other service lines are significantly higher and op costs for wireline are lower with a much smaller final ticket.

Example
Margin on wireline ~5%
Final ticket ~$12,000

Margin on frac ~15%
Final ticket $1.0mm +

It's a perception thing, they give up $12,000 in cost to be selected the preferred vendor on the frac to make ~$150k.

[killramos]

That and lots of games get played in areas with WI or NPI partners, depending on whether your service is capitalized or not.

[ExtraSlow]

.

[spike98]

Salary plus STIP in April and LTIP in Dec. Pretty standard comp model with decent pension/SPP programs.

[ShermanEF9]

Salary + Bonus that our team has very little control over.

[Buster]

I have to split tips with the kitchen staff and it sucks!

[BavarianBeast]

Favourite pay structure I had was at PCL. Salary + dividend (30%+ historically, and share prices never fell) + bonus. Amount of shares offered increased as you progressed through the ranks. Top cheese was collecting more than $700k in dividend each year.

Now I just rely on stonks to pay the bills and it’s a stressful but occasionally rewarding game.