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  1.  permalink
    A conference call yesterday with the powers-that-be confirmed that deferred compensation is dead, among a few other tidbits about our collective futures at Fry's Electronics.  
     
    Notes:  
    1. No new associates will qualify for the deferred compensation program, though 401k is still available as usual after (I think) 2 years.  
    2. Associates currently in deferred compensation will have their accounts frozen, so no additional vesting will occur.  
    3. According to the powers-that-be, the money that has been going to deferred compensation will instead be used to beef up commission tables for sales associates.  
    4. Full commission is coming to A/T and Components Sales Associates this year, company wide.  
     
    My inclination is to take this news rather negatively, but does anyone have any thoughts?  
     
    Last time commission tables were raised (for computers and A/V associates going full comm), the raise seemed awfully minor compared to the loss of base rate..
  2. Other Topics You Might Like
    "Deferred compensation"
    LOL deferred compensation.
    What is Fry's Deferred Compensation
    Has Anyone Received Their Deferred Compensation This Year Yet?
    Fry's Deffered Compensation..... what a joke
    •  
      CommentAuthorGuest 9352
    • CommentTimeOct 8th 2010
     permalink
    As a computer sales guy I see this as good. If they will beef up our commisions I am all for it.
    •  
      CommentAuthorSasquatch
    • CommentTimeOct 9th 2010
     permalink
    fearlessLeader: A conference call yesterday with the powers-that-be confirmed that deferred compensation is dead, among a few other tidbits about our collective futures at Fry's Electronics.  
     
    Notes:  
    1. No new associates will qualify for the deferred compensation program, though 401k is still available as usual after (I think) 2 years.  
    2. Associates currently in deferred compensation will have their accounts frozen, so no additional vesting will occur.  
    3. According to the powers-that-be, the money that has been going to deferred compensation will instead be used to beef up commission tables for sales associates.  
    4. Full commission is coming to A/T and Components Sales Associates this year, company wide.  
     
    My inclination is to take this news rather negatively, but does anyone have any thoughts?  
     
    Last time commission tables were raised (for computers and A/V associates going full comm), the raise seemed awfully minor compared to the loss of base rate..
     
     
    How reliable is this?
    •  
      CommentAuthorasdf
    • CommentTimeOct 10th 2010
     permalink
    How reliable is Fry's about giving out commission increases? This is just any other thing to cut costs. The company is just not efficient.
  3.  permalink
    @sas closed door meeting with SM reliable.. Some of it might be interpretation but SM seemed very straightforward about it. I know I'm new to the forum, but have worked several positions at fry's over the last few years.  
     
    @asdf fully agreed, I'm doubtful the tables will raise appreciably if at all at this point.
    •  
      CommentAuthorGuest 2911
    • CommentTimeOct 11th 2010
     permalink
    good thing i got promoted.
  4.  permalink
    how do you find out much money you have already contributed to the deferred compensation. how do we get it back?
  5.  permalink
    Is that the program where you are told on your first day that if you stay with the company long enough you will earn $1 million in that account or some other bullshit figure? Or is that something else?  
     
    Can you cash that out when you quit? What if you get fired?
  6.  permalink
    the $1 million thing is random. it depends on how much you earn over the 15+ years it takes for the account to mature. you get the vested amount over 22 years... it wasn't a stellar plan anyway. i know of one associate who hit 19 years and had under 20k vested.
  7.  permalink
    I know associates that get an average of $600.00 each December for 10 years, after the company fired them for one freason or the other and the company had no choice but to pay them what was promised on employment. ( An average of 10-12 years as a Sales Associate )  
     
    Next thinkg will be a Chapter 11 Reorganization from Fry's, and their money go good bye too.
  8.  permalink
    I always loved that they pitched it like Hey work here for 15 years and get a million dollars! No one not named Fry, Kolder or Omar ever got that kind of coin from that company.
    •  
      CommentAuthorGuest 5719
    • CommentTimeOct 13th 2010
     permalink
    Ehh, Omar's interpetation of Deferred Compensation has him sitting in jail right now.
  9.  permalink
    If I was a fry's associate (which I not saying one way or the other) I could be fired for my comments or even visiting this web site. I guess I'll have to work until i am a 127 years old to be able to retire with them taking away the deferred comp. I wonder if i just waisted the last ten years.
    •  
      CommentAuthorasdf
    • CommentTimeOct 13th 2010
     permalink
    you worked at frys for 10 years because you liked the benefits of deferred compensation?
  10.  permalink
    Guest: If I was a fry's associate (which I not saying one way or the other) I could be fired for my comments or even visiting this web site. I guess I'll have to work until i am a 127 years old to be able to retire with them taking away the deferred comp. I wonder if i just waisted the last ten years.
     
     
    You can't be fired for discussing the terms and conditions of employment at a workplace. That is the law. You CAN be fired for divulging trade secrets, but nothing in this forum really qualifies.
  11.  permalink
    How do associates cash out what they've vested thus far?
    •  
      CommentAuthorasdf
    • CommentTimeOct 14th 2010
     permalink
    How many years will I be receiving my deferred compensation check?
  12.  permalink
    22 years
  13.  permalink
    Actually its over 10 years
    •  
      CommentAuthorasdf
    • CommentTimeOct 14th 2010
     permalink
    nice please send me a lump sum check. i dont think the $6 check i get will be worth anything in 10 years.
  14.  permalink
    is this only for full time associates? how do i know they were taking money from my paycheck? or did the company just add it into my account or something?
  15.  permalink
    I heard this on Saturday from an AV sup (our DM never tells us ANYTHING. We rely on other departments to get our store news. It's fucking ridiculous). I knew this day would come for us. On one hand I'm excited for the new opportunity. Commission only? Sweet. No schematics, no inventory (FUCK that), and I will now have even more of a reason to sell more. On the other hand, I've been at Fry's for five years now. I know how this company runs, and I've seen what happened to AV and Computers when the switch went over. Home office promises a lot of stuff and they very rarely pull through with their word. They say the deffered compensation has been dropped in order to raise comissions for us but I HIGHLY doubt we'll see any change. I am wondering if they'll pull this shit on us before Christmas.
  16.  permalink
    No, nobody here will help you. You are supped to be selling over priced crap, and returning used items to the shelves while on the clock, and not trading recipes and beauty secrets on Facebook. NOW GET BACK TO WORK!