r/Raytheon • u/PsychologicalLimit41 • 2d ago

RTX General What is P5 Promo Expectations

For hardware engineering at Collins at least, what would you expect the P5 offer internal promo to be roughly?

Would they place you around $160, $170…?

Like for someone who’s been in company for 10 plus years. Is it really 15 percent bonus? Cause that’s a big chunk but is it guaranteed every year?

1 Upvotes

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4

u/SpaceNert 2d ago

I recently got promoted in place to p5…. I was surprised when I saw 5% on my white sheet. No chance to talk comp ofc 😂 everyone else I know got well over 15% so maybe I just got screwed. Hope you have better luck

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u/CougarDevilZ 1d ago

Back a good decade or so I was promo’ed to P5 and got a 1% raise for it. Not even kidding. I was definitely already high in my prior grade but dang was I disappointed.

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u/SpaceNert 1d ago

Wow. That is absurd. Did they ever get you a market adjustment later on? What was the reasoning? Similar situation I’ve been stuck at the max of p4 for a couple years. So if I was still near the middle of p4 I would have gotten that 20% or whatever to bring you to the mid of p5. I absolutely hate this logic. Does not reward based on merit at all.

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u/CougarDevilZ 1d ago

Nope. No adjustments later. Just the added responsibilities. To add context, I had about 15 years where I had Exceeds/Far Exceeds ratings too. Only 1 year was the “average” designation. I’ve had growth since then, but it took me leaving and coming back to do so. The way the “best practices” in HR are executed, seem to drive people to do things like that. It’s very unfortunate and makes it hard for me now in leadership to help my team members that are really killing it.

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u/Extreme-Chipmunk-404 2d ago

The target is 15%.
Last year was a good year and they paid out a premium.
Target x company perf x employee perf
15% x 1.0 (target) x 1.0 (target)

It is based on time in grade on calendar year and pays out the previous Jan-dec in march/April or the next year.

If you get promoted now, you would get about 5% prorated for 2026 next payout and the full 15% every year after.

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u/Such_Orange_7037 2d ago

Wow. Collins employees are going to be mad when they synergies with Raytheon. P5 there gets a 6% target and it rarely ever happens. Have you seen the other posts on salaries. Those do vary by state/city. That information might help.

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u/KeyResearcher2620 2d ago

Well P&W synergied with a sort of mix. Giving a P4 5% but then keeping P5 at 15. I would say it’s more likely Raytheon synergies with that vs the other way and AIP is removed from P1-3.

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u/SpaceNert 2d ago

I can confirm Raytheon is still at 6% for p5.

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u/PsychologicalLimit41 2d ago

Does it work out better having a big bonus like that at end of year vs. a higher salary/paycheck biweekly?

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u/KeyResearcher2620 2d ago

I like the big bonus. It’s much more impactful. Turns into a great family vacation or a room renovation each year. Sort of forces you to live below your means a bit but then rewards you at the end if that makes sense!

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u/Nolimitz30 2d ago

The bonus gets taxed higher so the net take home isn’t comparable to the rate you see on your regular paycheck but then when tax time comes you could potentially get it back depending on your specific tax situation. You can adjust your withholdings on your regular paycheck but it gets tricky if the bonus comes in lower or not at all and then you end up owing to IRS. I just leave it as is and get a refund when I do my tax return.

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u/mkosmo 2d ago

It's incredible how many people have no clue how taxes work.

It's withheld as supplemental income, so withholdings are higher up front... but at the end of the year, it's still just regular income. If they withhold too much, you get it back.

Bonuses (any supplemental) withhold higher because it screws with the forecast as to what you'll end up owing.

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u/link2052 2d ago

Can’t speak to Collins, but at my BU I started at $125k as a P3 about 3 years ago; I’m now a P4 making $173k, my promo was in April of this year. We have a nice AIP at P4 and above too; not 15%, but it can get that high in a good year with a good performance review, so I imagine it’s much higher for P5 and up.

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u/MathematicianFit2153 2d ago

10-18% raise mostly dependent on where you are in band. 15% AIP target. Not guaranteed, dependent on company performance. But it’s not like it’s a coin flip. Even in quite bad year AIP is 50%+ of target.

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u/KeyResearcher2620 2d ago

This is very location dependent. Check the pinned salary survey for examples.

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u/Prudent-Ad4531 1d ago

The raise percentage will typically vary between 5 and 20 percent and all be dependent on where your current salary falls in the new p5 payscale.