Exxon suspends company match for retirement plans...
I've been working for Exxon for over 5 years...but I think it's time to start looking for other opportunities outside of the industry. Sort of overwhelmed with where I should start. Saw some folks from Shell and Valero on Blind..,Is it time for us to find another job? Are you guys actively looking for other opportunities? Advice and support appreciated. https://finance.yahoo.com/news/exxon-suspend-company-match-employee-050005927.html
I work in O&G as well and my company has suspended matching for retirement plans also. I think it’s just a tough time for the O&G industry in particular and will turn around after COVID fears subside
Agreed. Time to get out of O&G. Especially Exxon. Company is robbing the piggy banks of it's own employees to pay a huge dividend so wall street wont think it's as weak as it is
You’d think they’d be smart enough to realize that those smoke and mirrors won’t really work when it comes time to invest and we are out of cash because it was all poured into the dividend
I think they are smart. Smart enough to do what needs to be done to keep their massive compensation going for another few months. Just another few months they say, same as me, except with a minute fraction of the compensation.
Transitioned from O&G to tech a few months back, and it was the best decision I've ever made. It was a lot of work learning how to code, but leaving the culture of O&G behind was well worth it.
What were you doing in O&G ?
Where did ya end up going if ya don’t mind me asking? I’m headed out in the coming months and want to get into tech
My position isn’t tied to O&G, but Valero is a very appealing employer in San Antonio. There aren’t many other large companies that can match salary + benefits for my role. However, at this point, I’m willing to take a pay cut to leave this company and industry.
I left XOM (and O&G) in mid-March. You can do it! Be free!
Where did you go?
Recently decided to leave on my own and now work at FANG. Best decision I've made, unfortunately the industry is dying and the good times are over.
Leaving XoM for another O&G company is delaying the inevitable. XoM has some big bets that are stranded as a result of Covid and the steady encroachment on oil consumption by renewables and improved technology. They have a big problem with the huge campuses they built that are only going to be partially filled soon too. Amazon is actively recruiting O&G skills in Houston, take a look there.
"Amazon is actively recruiting O&G skills in Houston" Can you expand? Why O&G? Tech people with background in O&G?
Amazon (and Msft) are targeting O&G primarily for cloud business development. Both have tech folks that work as solutions architects, developers, and consultants as well as folks with O&G career/domain knowledge that mostly work in business development/PM type roles.
Left Exxon subsidiary and went back to school for tech two years ago. Without a doubt the best decision of my professional career. Not saying you ‘need’ to go to school to transition but it made sense for me. I work in FAANG now and my new career trajectory will put me ahead of where I would have been if I stayed. If you worked in process control, transitioning to SWE or DS is an easier task. If not, PM or program manager may be a more reasonable transition.
Hi, I’m currently at XOM working in operations. I’m in school to get a bachelors degree and will finish in the spring. I’m trying to figure out if I want to leave. What are the acronyms you used. FAANG, SWE, or DS?
My bad- FAANG refers to Facebook, Apple, Amazon, Netflix, and Google, some of the more well-known and sought after tech companies. SWE is software engineer, DS is data science, and PM is product manager.
My 2 cents from shell. Yeah Exxon screwed the employees, shell screwed the shareholders. I used to think I’d rather be at xom but now I’m 100% happy to be at shell. As far as industry take? I’m trying to run away as fast as I can. Been workin 5 yrs, I personally am applying to business schools since I really have no other transferable skills outside of O&G
What do you do in Exxon?