"He went from making $52,000 a year to $30,000."
...after 26 years with the company!?!?!
LOL!! New execs in my area start at around 49k fresh out of college with no work experience.. and if they come from another retail management position-- significantly more than 49k. This guy was getting ripped off lol... PLUS this article is dated from 2010.
Before or after taxes/health?
You guys really believe ETLs make that much?
About two years ago I was in the TL office and our ETL-GE had left her paycheck stub out on her desk. I couldn't help but look. Guess what the check was for? About $1400. That is still $2800 monthly and isn't bad, but no where near 50K a year which would be at least $4200 monthly.
ETL's say they make gobs of money to BS people. Hell, I lied about how much I made if a TM ever asked. Added about $4 more an hour than I actually made. It was too embarrassing otherwise considering all the years I had put in.
The tax bracket for a single person making over $38,000. a year is 25%.
I've been trying to talk my son into contributing more to his 401k since he is getting killed in taxes....
The tax bracket for a single person making over $38,000. a year is 25%.
I've been trying to talk my son into contributing more to his 401k since he is getting killed in taxes....
$1,400 a check would put them at around $42,000 a year with a rough offset of 15% for 401(k)/medical/taxes. Your $50,000 at $4,200 a month doesn't take deductions into account. At the 15% mark, $50,000 would end up being roughly $1,650 a check.
i don't think it's just older ETLs that are being targeted. ANY employee who has been with the company over 5 to 6 years seems to be on the defensive.
about three years ago we got all new ETLs. only two of them were not new to target. we (the specialists) watched several TL's get "performanced out" over the dumbest things. some of them had over 10 yrs with the company. now that i think about it, they were all african american and mexican american. a few months later we saw a couple more of the white TL's get the same treatment. i've been targeted more than once and still wonder how i've got a job at spot.
FYI she had no 401k. That was my first thought too, but I looked that paystub over good at the time because I knew I would probably never get another chance like that.
Also, that is no where near 42000! Do some simple math. 1400X2 = 2800 X 12 = annual salary of $33600. Which is about the salary the this news article says the ETLs were making. Sorry, even with taxes taken in to account there was no way in hell she came even close to 42000. Also, we live in a state with no state income taxes - so that was pay with only federal deductions.
Now, considering the fact many ETLs put in 50 or 60 hours a week - if they were making a wage instead of a salary (assuming 40 hours a week) their pay would probable be around $27000 a year. Not very impressive.
i have said it before & i will say it again: Target can "performance you out" anytime they want. All they have to do is document something that you do not do on a regular basis on your cole roles. They can build a case on anyone because many of the core roles are so general (this done purposely, in my opinion).
For example, when i was a backroom team lead a few years ago, one of my core roles was "responding to all backup at the registers." what backroom team lead do you know who responds to all backup? No one! Even if you responded to most, management can still get you for not responding to all!
Target can make the best team members look like "scum" by using target language and lingo on a corrective action. There is really nothing anyone of us can do about it because the company has a legal team ready to do their dirty work. You just have to hope that it doesn't happen to you.
You realize that the effective tax rate is different than what tax bracket you fall in to, right? Because you are in the 25% bracket does not mean you actually pay 25%.