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      CommentAuthormerzbow
    • CommentTimeJan 16th 2009 edited
     permalink
    you know when they hire you and during training class they hype you up about the Deffered Compensation program? guess what? its REAL.  
     
    a real joke that is.  
     
    'every year it doubles! why, if youre with the company for 15 years, you can have up to a million dollars from differed compensation! blah blah etc etc'  
     
    now keep in mind i got my first of these certificates in 2004 (i started with the company in late 2002) and yes, each year it did double in value. the last certificate i got in early 2008 said mine was around 4400 dollars....  
     
    a week ago or so (about a month after i got my last paycheck) i finally get my deffered compensation bonus.... yep, a whole whopping 145 dollars after tax.  
     
    anybody else have stories to share about this wonderful program of theirs?
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      CommentAuthorasdf
    • CommentTimeJan 16th 2009
     permalink
    merzbow: you know when they hire you and during training class they hype you up about the Deffered Compensation program? guess what? its REAL.  
     
    a real joke that is.  
     
    'every year it doubles! why, if youre with the company for 15 years, you can have up to a million dollars from differed compensation! blah blah etc etc'  
     
    now keep in mind i got my first of these certificates in 2004 (i started with the company in late 2002) and yes, each year it did double in value. the last certificate i got in early 2008 said mine was around 4400 dollars....  
     
    a week ago or so (about a month after i got my last paycheck) i finally get my deffered compensation bonus.... yep, a whole whopping 145 dollars after tax.  
     
    anybody else have stories to share about this wonderful program of theirs?
     
     
    So you can get up to 1 million dollars paid over 30 years or something like that?
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      CommentAuthorSasquatch
    • CommentTimeJan 16th 2009
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    Sasquatch: Don't you get that annually for the next 14 years?
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      CommentAuthorflea
    • CommentTimeJan 16th 2009
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    I like how Jeremy Jach tell's all his customers he's close to getting his 1 million dollar deferred compensation money because he so close to his 15 year mark. You know whats funny, that once he gets close they will fire him. He should tell customers instead hi my name is Jeremy and like my last name says I like to jack other employees sales. Anyways I think someones should bust Jeremy's bubble and remind him that he wont be getting the $1million dollars Fry's promises to pay or anywhere near $1 million dollars. From what I hear its only store managers or assistance managers that could get $1 million dollars for working for Fry's for 15 years.Fry's is corrupt I am here to talk about it.
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      CommentAuthormerzbow
    • CommentTimeJan 16th 2009 edited
     permalink
    well if it is paid off annually over a period of several years that it would make more sense, i guess. but it comes in form of a regular paycheck(taxed income). does that mean every year i have to get a W2 and fill out tax info from Fry's every year? FFFFFFFFFFFFUUUUUUUUU  
     
    and it was funny... in six years time i know of like 4~5 long timers (one had been there 13 years) who were fired for real questionable/silly/trivial reasons....
  2.  permalink
    In order to get the million you gotta be a director or above. I am a former dm an worked for fry's for 9+ years. my def. comp. checks come in every six or seven months and average 1200 before tax. so it is based off of what you made as in pay/position in the company and how long you have been with the company.
  3.  permalink
    I completely forgot about that thing... still sounds good to me, I plan on working my way up one day too.  
     
    What about those other things like benefits and 401k's? Do those have any values or anything good?
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      CommentAuthorSuzukiman
    • CommentTimeJan 17th 2009
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    not from frys .... at my company the 401k is matched and immediately vested.Looking for my head ............... yeah the eight valve one yeah ....
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      CommentAuthorObiWan
    • CommentTimeJan 17th 2009
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    Suzukiman: not from frys .... at my company the 401k is matched and immediately vested.
     
     
    As I recall, you own your own company, right?
  4.  permalink
    <--- Jeremy my last statement shows me at 47000. I never expected the million .. just more then my lame ass teaching degree would have got me
  5.  permalink
    I would rather be a teacher because they don't treat you like shit at fry's and keep you till 2am

    I bet you don't get to spend much time with your daughter huh Jeremy...

    Plus teachers get great benifits what a waste...
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      CommentAuthorSuzukiman
    • CommentTimeJan 17th 2009 edited
     permalink
    the one i own is a side job for recycling and reselling computers. My real job was at NanoISI which has now become part of EAG, so I now work for EAG as a systems admin with many other hats.Looking for my head ............... yeah the eight valve one yeah ....
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      CommentAuthorSasquatch
    • CommentTimeJan 17th 2009
     permalink
    Guest: In order to get the million you gotta be a director or above. I am a former dm an worked for fry's for 9+ years. my def. comp. checks come in every six or seven months and average 1200 before tax. so it is based off of what you made as in pay/position in the company and how long you have been with the company.
     
     
    By DM, do you mean district manager, or department manager?
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      CommentAuthorsomeone
    • CommentTimeJan 17th 2009
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    Suzukiman: not from frys .... at my company the 401k is matched and immediately vested.
     
     
    Not every company matches.. Fry's is one of them... but the thing about Fry's 401k..... the choices metlife gives us.. blow chunks.. though I guess I cannot complain too much.. I only lost 26% the whole last year including the bursting stock bubble.. and so far this year i'm only down 1.95% since the start of the year.. I started losing 7.5% at the beginning of last year..  
     
    But at least if I lose my job at Fry's I have a decent junk of change to last me awhile while I find a new job.. or I could just reinvest it like I should..Hiya kids. Here is an important message from your Uncle Bill. Don't buy drugs. Become a pop star, and they give you them for free!
  6.  permalink
    someone:
    Suzukiman: not from frys .... at my company the 401k is matched and immediately vested.
     
     
    Not every company matches.. Fry's is one of them... but the thing about Fry's 401k..... the choices metlife gives us.. blow chunks.. though I guess I cannot complain too much.. I only lost 26% the whole last year including the bursting stock bubble.. and so far this year i'm only down 1.95% since the start of the year.. I started losing 7.5% at the beginning of last year..  
     
    But at least if I lose my job at Fry's I have a decent junk of change to last me awhile while I find a new job.. or I could just reinvest it like I should..
     
     
    Savings FTW
  7.  permalink
    sasquatch, I was a former department manager....I have some what of a life to become a district...lol.. just a fyi to everyone. got my def. comp. check and they gave me 2523.61 on this one. and this one came in 2 months early. some may think def. comp is a joke.. in some cases the amount maybe. but its money you didn't have before and its money coming from a company you may or may not like... but either way its free money to me. the only down side is you pay taxes on the amount and get a w2...In some cases it will jump you up to a diff. tax bracket. but if the person doing your taxes is good you can get it all back or write it off.
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      CommentAuthorasdf
    • CommentTimeJan 18th 2009
     permalink
    Guest: sasquatch, I was a former department manager....I have some what of a life to become a district...lol.. just a fyi to everyone. got my def. comp. check and they gave me 2523.61 on this one. and this one came in 2 months early. some may think def. comp is a joke.. in some cases the amount maybe. but its money you didn't have before and its money coming from a company you may or may not like... but either way its free money to me. the only down side is you pay taxes on the amount and get a w2...In some cases it will jump you up to a diff. tax bracket. but if the person doing your taxes is good you can get it all back or write it off.
     
     
    Well it ain't a million dollars but an extra $2600 a year doesn't sound so bad.  
     
    For tax purposes you can lower your taxable income by putting more into your 401k at work.
  8.  permalink
    merzbow: you know when they hire you and during training class they hype you up about the Deffered Compensation program? guess what? its REAL.  
     
    a real joke that is.  
     
    'every year it doubles! why, if youre with the company for 15 years, you can have up to a million dollars from differed compensation! blah blah etc etc'  
     
    now keep in mind i got my first of these certificates in 2004 (i started with the company in late 2002) and yes, each year it did double in value. the last certificate i got in early 2008 said mine was around 4400 dollars....  
     
    a week ago or so (about a month after i got my last paycheck) i finally get my deffered compensation bonus.... yep, a whole whopping 145 dollars after tax.  
     
    anybody else have stories to share about this wonderful program of theirs?
     
     
    Well when I was Coach I would see that damn video over and over again. They only use the whole "million dollar" thing as an example. The deferred compansation is all based off an average of how much you make and the hours you work. It also said that you only get it after being there for 7 years, so if you quit before that you don't get anything. But if you quit after then you get. Well that was my impression at least. It only doubles after seventh year. Then if you are still with the company after 14 years on the 15th year you start getting your DC checks. when you get your DC check you get one each year for the next 10 years even if you haven't quit yet.  
     
    But since I quit I thought I wasn't getting anything. Low and behold I get a check from fry's for $5. That's after tax. So I was suppose to get like 10 something. I was only there for 3+ years but only 2 calander years, but the thing was is that I never got any certificates. I wasn't really worried about it to much. But now for the next 10 years I guess I will be getting a 5 dollar check from fry's. I just don't know why they don't tell you that in the video that you can get it without being there for 7 calander years.
  9.  permalink
    Does anyone have any numbers as to how many people make it to 15 years at Fly's?
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      CommentAuthorSasquatch
    • CommentTimeJan 19th 2009
     permalink
    At store 23, I'm pretty sure the service department manager, Don Houston, has hit fifteen years by now.
  10.  permalink
    notparistexas: Does anyone have any numbers as to how many people make it to 15 years at Fly's?
     
     
    From what I have heard the Audit Manager in Store 7 hit her 15th year this year and got a 9k check after taxes.
    •  
      CommentAuthorasdf
    • CommentTimeJan 20th 2009
     permalink
    gossipgirl025:
    notparistexas: Does anyone have any numbers as to how many people make it to 15 years at Fly's?
     
     
    From what I have heard the Audit Manager in Store 7 hit her 15th year this year and got a 9k check after taxes.
     
     
    9k/year is about a full time job at McDonnalds .
    •  
      CommentAuthorsomeone
    • CommentTimeJan 20th 2009
     permalink
    gossipgirl025:
    notparistexas: Does anyone have any numbers as to how many people make it to 15 years at Fly's?
     
     
    From what I have heard the Audit Manager in Store 7 hit her 15th year this year and got a 9k check after taxes.
     
     
     
    that only accounts for $90,000Hiya kids. Here is an important message from your Uncle Bill. Don't buy drugs. Become a pop star, and they give you them for free!
  11.  permalink
    I wouldn't worry to much about getting 15 years in and receiving your million dollars anyway.Fry's will find a excuse to fire you and if they can't find one they will set you up with bogus warnings then boom you are gone.
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      CommentAuthorGuest 7428
    • CommentTimeMay 11th 2011
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    It's up to a million dollars, which means it's a percent of your netpay. A store manager who hits all of their bonuses (depending on store) making $150-190k will put away ~$1m in 15 years at that rate of pay. However a cashier will only put away at maximum $40k in the same period of time. Though no numbers have ever been released, I'm going to guess that it's fixed at 5% contributions of netpay with a staggered growth rate that packs on most of the interest in years 12-15. So assuming $150k @ 5% is $7500 with an averaged compounded rate of growth of 20% anually when amoritized over 15 years is $840,521.96 including yearly deposits of $7500. So yes, it's possible to get a million dollars from it if you're taking home high six figures already.
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      CommentAuthormickeyd699
    • CommentTimeJul 23rd 2011
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    You guys know that they stopped that sometime last year? so what ever your last certificate was that is what you will be getting. The amount will no longer rise from that point and on.
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      CommentAuthort0rrent
    • CommentTimeJul 26th 2011
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    I have a feeling they stopped all compensation. I got 75 bucks 2 years ago, and was expecting 9 more years of dinner and a movie with the wife and got nothing last year lol.
  12.  permalink
    Rip Don Houston. He was agreat man.
  13.  permalink
    I get my $20 a year stilli love it when they call me big papa
  14.  permalink
    Got my $76 (after taxes) last week first one too. Not bad covered my car insurance for the month.
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      CommentAuthorqwertyguy
    • CommentTimeJan 7th 2014
     permalink
    Guest: Got my $76 (after taxes) last week first one too. Not bad covered my car insurance for the month.
     
     
    Its cool to look at the bright side. esp if $76 is a lot of money to some.  
    What i can see in this place as a whole is downright horrible. How can one sustain a existence here? Ive been going for 7 months now and  
    its got to be the one of the worst places ive encountered. covering 2 working decades. OH I CANT WAIT to get out. Im tempted to just dump it and Then start looking, cuz this place is go nowhere fast. And the thing is Frys is making Bank. sure not like 10yrs ago. The manager even said so, and not to mention, they can afford embezzlement law suites ect. They are willing to pay a decent wage only when they win the lotto every week out of every store! and the benefits i dont even care to know. Tnx all