The Wisconsin Officer Long Term Incentive Compensation Plan is a specifically designed compensation program for officers at Southern California Edison Co. This plan aims to reward and incentivize officers with long-term benefits for their dedicated service, contribution to organizational growth, and commitment to achieving set objectives. Under this plan, Wisconsin officers are entitled to various forms of compensation, including cash incentives, stock options, restricted stock units, and performance-based bonuses among others. These incentives are designed to align the interests of the officers with the company's long-term success, thereby encouraging them to focus on achieving sustainable growth and enhancing shareholder value. The Wisconsin Officer Long Term Incentive Compensation Plan offers different types of compensation components, each with its own unique features and benefits. These components may include: 1. Cash Incentives: Officers may be eligible for cash bonuses based on their individual, team, or company performance against specific targets and objectives. These cash incentives provide immediate rewards and can be structured to promote retention and longevity. 2. Stock Options: Officers may have the opportunity to receive stock options, allowing them to purchase company shares at a predetermined price within a specified time frame. This aligns the officers' interests with that of shareholders by giving them the opportunity to benefit from potential future stock price appreciation. 3. Restricted Stock Units (RSS): RSS are grants of company stock that are subject to certain vesting requirements. The Wisconsin Officer Long Term Incentive Compensation Plan may provide officers with RSU awards, which convert into actual shares of company stock over a predetermined vesting period. This RSS provides long-term incentives and encourage officers to remain with the company throughout the vesting period. 4. Performance-Based Bonuses: In addition to annual cash incentives, officers may be eligible for performance-based bonuses tied to specific financial, operational, or strategic goals set by the company. These bonuses are designed to recognize exceptional performance and reward officers for their contributions to the organization's success. It is important to note that the specific details, eligibility criteria, and allocation of incentives under the Wisconsin Officer Long Term Incentive Compensation Plan may vary depending on the officer's level, role, and individual performance. The plan is regularly reviewed and adjusted by Southern California Edison Co. to ensure its relevance in attracting, retaining, and motivating top talent in Wisconsin.
Wisconsin Officer Long Term Incentive Compensation Plan for Southern California Edison Co.
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For example, a manager agrees to give everyone working on a certain marketing account a $500 bonus if they can complete all deliverables and get client approval by the end of the week.
The median estimated compensation for executives at Southern California Edison including base salary and bonus is $203,470, or $97 per hour. At Southern California Edison, the most compensated executive makes $652,000, annually, and the lowest compensated makes $65,000.
An annual incentive plan is a plan for compensation that is earned and paid based upon the achievement of performance goals over a one-year period. These plans motivate performance and align executives' work with the company's short-term performance goals.
Incentive compensation is a form of variable compensation in which a salesperson's (or other employee's) earnings are directly tied to the amount of product they sell, the success of their team, or the organization's success.
A good example of a monetary incentive is a sales-based incentive. Sales-based incentive compensation is ideal for employees who are responsible for talking to customers and closing sales. Employers often structure these incentive plans as a percentage, like 5% of all the deals each sales rep closes.
Southern California Edison Salary FAQs The average Southern California Edison hourly pay ranges from approximately $23 per hour for a Customer Service Representative to $107 per hour for a "Director, Strategy and Engagement".
For example, the employer may offer health insurance, dental insurance, life insurance, short- and long-term disability insurance and vision insurance. Employee retirement plans, like 401(k) plans, are another common form of indirect compensation. Equity-based programs are another compensation offering.
Long-term incentives are usually provided to induce an executive to achieve results over a period of longer than one year. Often, they are paid in stock. Sometimes executives receive a balance of short- and long-term variable compensation.