Exxon boosts U.S. worker pay as profit reaches record high
ExxonMobil said Wednesday it will award above-inflation pay increases to its U.S. employees in the company’s biggest salary award in the aggregate since 2015.
Workers will receive an average 9% salary increase, and those who got promoted will see an additional 5% bump, according to a Bloomberg report.
The company also will give restricted stock options to 14K employees globally, more than 20% of its total workforce and up from 5K last year.
Pay at Exxon (XOM) is heavily influenced by where an employee rates in the company’s performance evaluation system, with some top performers who got promoted receiving raises of 15%-25%, Bloomberg said.
Exxon (XOM) disclosed earlier this week that it had rewarded top executives including CEO Darren Woods with a 10% salary boost.