|
|
Enron Mail |
Steve -
As you requested, attached please find the Analyst compensation comparables we discussed last week: We are having an extremely tough time recruiting Analysts from Rice because our main competition on campus comes from consulting companies (Bain, McKinsey, BCG, EY, Andersen, etc.) and investment banks (Goldman, JP Morgan, CSFB, Merrill Lynch, etc.). Even though these companies are not directly in our industry group, they are our principal competitors for talent at Rice. As evidenced by our recruiting performance this year and in previous years, we loose nearly every time when we compete with these companies. In the last three years of recruiting at Rice, only 1 or 2 people have accepted our offer. The other Analysts who are rice alumni (myself included) joined Enron through other circumstances. I think our poor performance at Rice is due primarily to the following factors: Compensation: The Enron compensation package is below that of our competitors at Rice. Additionally, there is more risk associated with our offer, since Enron's compensation structure relies more heavily on the year end bonus than some of our competitors. In the cases where the package is similar (ie, McKinsey), we loose folks because of other company's name and prestige. Rotations: Most investment banks give their analysts offers to work in specific groups (M&A, Trading, Etc.). Our analyst recruits can express a preference, but their placement is not guaranteed. This also creates an added element of risk and uncertainty. In sum, I think we will continue to be unsuccessful in our recruiting efforts at Rice if we do not address these issues. Should you need any further information, please feel free to contact me. Regards, Alex Hernandez ENA - Principal Investments 713-345-4059 ---------------------- Forwarded by Alejandro Hernandez/NA/Enron on 12/15/2000 03:31 PM --------------------------- Alejandro Hernandez 12/15/2000 03:30 PM To: Charlene Jackson/Corp/Enron@ENRON, Julie Braly/NA/Enron@ENRON, Jana Giovannini/HOU/ECT@ECT, Shelly Butler/HOU/ECT@ECT cc: Brian Hoskins/Enron Communications@Enron Communications, David Hunker/ENRON@enronxgate, Priya Jaisinghani/NA/Enron@Enron, Carrie Southard/LON/ECT@ECT, Erin A Rice/LON/ECT@ECT, Julie Davidson/HOU/EES@EES Subject: Analyst Compensation Comparables Charlene - As we discussed yesterday, attached please find a comparable compensation analysis for this year's Analyst offers: We believe that the low acceptance rate ( 14/112 ) we are experiencing this year is due to the following reasons: Enron's base salary is significantly below that of our competitors The bonus ranges were not mentioned in the offer letters I hope this information is useful to you as we continue our efforts to attract quality employees to Enron. Should you have any questions, please feel free to contact me. Regards, Alex Hernandez Analyst Advisory Board x54059
|