Raytheon employees earn $77,000 annually on average, or $37 per hour, which is 15% higher than the national salary average of $66,000 per year. According to our data, the highest paying job at Raytheon is a Director at $195,000 annually while the lowest paying job at Raytheon is an Inventory Control Specialist at $22,000 annually. Most of our executives compensation is at risk and varies based on performance. Some Wall Street watchers questioned the true value of M&A at almost any price, seemingly for its own sake. This is the name that will be displayed next to your photo for comments, blog posts, and more. There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. In November 2018, UTC acquired Rockwell Collins for $23 billion ($30 billion including Rockwell Collins' net debt). Gear advertisements and other marketing efforts towards your interests. every area of the Companys operations. Due to COVID-19, which sharply reduced air travel and revenue at Raytheons airline customers, the company canceled merit increases for employees and executives of United Technologies Corp., which merged with defense giant Raytheon last year. How we use your information depends on the product and service that you use and your relationship with us. As evidenced by the chart below, Raytheons cumulative TSR since
For its 2021 fiscal year, RAYTHEON TECHNOLOGIES CORP, listed the following board members on its annual proxy statement to the SEC. and non-solicitation)
This change to mix affects
[34], In 1999, UTC acquired Sundstrand Corporation and merged it into UTC's Hamilton Standard unit to form Hamilton Sundstrand. The Management Development and Compensation Committee reviews and oversees
[34] UTC became a mergers and acquisitions (M&A)focused organization, with various forced takeovers of unwilling smaller corporations. You may also find the annual proxy statement by going directly to the company's website. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Payout as a
In 1959, Raytheon acquired the marine electronics company Apelco Applied Electronics, which significantly increased its strength in commercial marine navigation and radio gear, and changed its name to Raytheon Company. Increasing option which continues higher, 200 hours per year is the max you can earn at the max years of service, Learn How to State Your Case and Earn Your Raise, Climb the Ladder With These Proven Promotion Tips, A Guide to Negotiating the Salary You Deserve, How to Prepare for Your Interview and Land the Job. The following report of the Management Development and Compensation Committee and the performance graphs shall not constitute soliciting material and
https://www.raytheon.com, Raytheon Missiles & Defense - San Francisco, CA, Raytheon Missiles & Defense - Seattle, WA. median for comparable positions as a reference, though it also uses other factors in setting individual target compensation. United Aircraft, subsequently known as United Technologies and Raytheon Technologies, has remained a component of the Dow Jones Industrial Average since that time through August 2020. Company exceeded its financial goals for 2004. Percentage
Of this total $0 was received as fees earned or paid in cash, $0 was received as non-stock incentive plan compensation, $0 was received as change in pension value and nonqualified deferred compensation earnings, $0 was received as In January, company officials said they expect to ultimately let go of around 16,500 commercial aerospace staff. The most important daily headlines from News, Sports, Business, Living, and Opinion. In a Jan. 20 filing, the company attributed the drop in approval to a one-time award granted to CEO and Chair Vincent Roche worth more than $17 million. feedback from this outreach and other communications into numerous aspects of our executive compensation program,
However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. long-term incentive mix of 60% / 40% between performance-based LTPP and time-based restricted stock, our CEOs 2019
WebMar 16, 2022 0 A significant increase in an annual bonus lifted the top executive for Raytheon Technologies Corp. to a 12.3% increase in fiscal 2021 total compensation to This number represents the median, which is the midpoint of the CONTINUING OPERATIONS OF, MDCC
An email has been sent to with a link to confirm list signup. The MDCC uses the
20162018. Raytheon Co. employee benefits and perks data. 20162018 LTPP. Find your market worth with a report tailored to you, Education/Training/Tuition/Certification Reimbursement, New research shows how to set pay for remote employees. compensation, adheres to the principles and processes described above with respect to the Companys executive officers. The CEO is expected to own shares of stock with a market value of at least five times his or her annual base salary. The mix of our executives long-term incentive compensation should be more heavily weighted towards performance-based
Michael C. Ruettgers. [53], In December 2020, the Board of Directors authorized a $5 billion repurchase of common stock.[54][55]. It should also be noted that our actual 2018
Section 162(m) of the Internal Revenue
The results across all 20162018 LTPP metrics are indicative of our return to growth in 2015 ahead of schedule, our
His 2020 compensation is 193 times the annual earnings of Raytheon Technologies workers, who on average make about $108,000 per year. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. In addition, executives participate in the. In 1948, Raytheon began to manufacture guided missiles, including the SAM-N-2 Lark, the air-to-air AIM-7 Sparrow, and the ground-to-air MIM-23 Hawk missiles. backlog. Each executive has an RBI target expressed as a percentage of base salary. Board of Directors in RAYTHEON TECHNOLOGIES CORP. The size of each executives award is determined by considering data for comparable positions in the Companys Peer Group. Know Your Worth. [13] In 1945, Raytheon's Percy Spencer invented the microwave oven by discovering that the magnetron could rapidly heat food. 213 0 obj We sell different types of products and services to both investment professionals and individual investors. Company, an American manufacturer of electron tubes and switches, to form the successor of the same name, Raytheon Manufacturing Company. See Perquisites
With Raytheon Technologies facing steep losses across its aerospace businesses due to COVID-19 and the near collapse of commercial air travel, Hayes last spring asked for and received a 20% reduction to his base salary. February 10, 2023. MANAGEMENT DEVELOPMENT AND COMPENSATION COMMITTEE. 2018 financial performance, we exceeded our 2018 RBI targets on all metrics, resulting in a 140.7% funding level. drive continuous financial performance and higher payouts for higher performance impacting almost 38,500 employees,
There was an error processing your request. We also consider strategic acquisitions which complement and add value to the Companys core businesses,
Base
Therefore, our compensation peer group (our Peer Group) is not made up of the same companies as the peer group index in the
Change-in-Control Agreements. the impact of the stock performance in 2018, Raytheons three-year TSR ranking was seventh out of ten peers under the
Results as a
Using the Amana brand name and its distribution channels, Raytheon began selling the first countertop household microwave oven in 1967 and became a dominant manufacturer in the microwave oven business.
Short-term cash flow performance
Rather than aviation being the central theme of UTC businesses, high tech (of any type) was the new theme. Salary. Notifications from this discussion will be disabled. We reserve the right at any time to adjust funding for the program and, in our sole discretion, to interpret, amend or modify the
The company's first product was a gaseous (helium) rectifier that was based on Charles Smith's earlier astronomical research of the star Zeta Puppis. No racism, sexism or any sort of -ism FCF performance exceeded our actual 2017 FCF performance by $472 million. For its 2021 fiscal year, RAYTHEON TECHNOLOGIES CORP, listed the following CEO pay ratio data on its annual proxy statement to the SEC. <>>>/Type /Page/Parent 211 0 R/MediaBox [0 0 612 792]/Rotate 0/Tabs /S/StructParents 0>> Companys executive compensation program is designed to increase the total portion of cash and incentive compensation at risk at higher levels of. [21] In 2017 the Air Force again awarded the contract to Raytheon. Error! After reaching an all-time high in April, Raytheon
Annually, we review and recommend to the independent directors as a group the base salary level
In 1928, Raytheon merged with Q.R.S. Every Thursday get news from local eateries, real life food and drink tips, plus updates on the foodie world from far and wide. has determined that our CEOs total target direct compensation should remain at the same level as his 2018 compensation in
We have conducted formal [50] The merger was completed in April 2020, forming Raytheon Technologies. WebRaytheon Co. Chairman and CEO William H. Swanson received a pay package worth $15.86 million, according to an AP analysis of the Waltham, Mass.-based company's proxy statement. on pages 19 - 20 of this proxy statement. The establishment of Mr. Swansons annual goals and objectives, as well as his
As discussed beginning on page 43, the MDCC uses information furnished by its independent compensation consultant to
The MDCC
stock performance in the fourth quarter of 2018, Raytheons five-year cumulative TSR of 85.3% exceeded the core peer group
Annual Incentives. Get a free, personalized salary estimate based on today's job market. Dow Jones Industrial Average, S&P 500, Nasdaq, and Morningstar Index (Market Barometer) quotes are real-time. CFCF and TSR, have driven strong Raytheon operational results, including Company performance in 2018 and increased
Terms of Service apply.
Annual awards take into account the financial and operational performance of each business and the Company as a whole. the opportunity to earn variable compensation, is a discretionary incentive program administered by the Committee. Annual Incentive Award. The Named Executive Officers received incentive awards based on our review of
Raytheon Technologies Corporation is an American multinational aerospace and defense conglomerate headquartered in Arlington, Virginia; it is one of the largest aerospace and defense manufacturers in the world by revenue and market capitalization as well as one of the largest providers of intelligence services. 20162018 LTPP awards. He led all efforts in establishing ethics and compliance as a priority within the Company while demonstrating visible leadership in these areas within the Aerospace Industry. [8] Raytheon Technologies began trading at $51 per share, on the New York Stock Exchange under the ticker RTX. In November 2007, Raytheon purchased robotics company Sarcos,[15] and in October 2009, Raytheon acquired BBN Technologies. of executive performance-based LTPP awards for
assess the competitive positioning of our executives total target direct compensation against the market. to improve pay-for-performance
Types of benefits available to executive officers and other key
Unlike
WebRaytheon insights Based on 1,073 survey responses What people like Ability to meet personal goals Ability to learn new things Time and location flexibility Areas for improvement Sense of belonging Overall satisfaction Support from manager Horrible place to work Executive Assistant (Former Employee) - Huntsville, AL - October 29, 2020 Other officers,
WebFor its 2021 fiscal year, RAYTHEON TECHNOLOGIES CORP, listed the following executives on its annual proxy statement to the SEC. of restrictive covenant
See Stock Ownership and Retention Guidelines on page 57. effective December 31, 2018. We noticed that your web browser is outdated! Increasing option which continues higher, 200 hours per year is the max you can earn at the max years of service, Learn How to State Your Case and Earn Your Raise, Climb the Ladder With These Proven Promotion Tips, A Guide to Negotiating the Salary You Deserve, How to Prepare for Your Interview and Land the Job. Change-in-Control Agreements. What your skills are worth in the job market is constantly changing. Performance, MDCC
[14] Raytheon also divested itself of several nondefense businesses in the 1990s, including Amana Refrigeration and Seismograph Service Ltd (sold to Schlumberger-Geco-Prakla). inflows from the U.S. government through the pricing of our products and services. WebSupplemental Executive Retirement Plan - Raytheon Co.: , determined without application of the limitation on compensation imposed by Section 401(a)(17) of the Code. In recent years, the compensation of chief executives of big, publicly traded companies has risen steadily, despite efforts by lawmakers to restrain C.E.O. Raytheon Technologies Corp., the parent company of Collins Aerospace and East Hartford-based Pratt & Whitney, is considering selling off i, EAST HARTFORD Raytheon Technologies Corp. is looking to sell 300 acres of mostly undeveloped property adjacent to the sprawling campus of it, Stung by a steep global downturn in the commercial aviation sector, Raytheon Technologies Corp. last year eliminated 16,500 positions and laid, The massive $740 billion defense spending bill vetoed by President Donald Trump last week and now being used as a bargaining chip in negotiat, Raytheon Technologies Corp., the parent company of Pratt & Whitney and Collins Aerospace, saw a steep plunge in year-to-year profits over , Raytheon Technologies Corp.s recently announced plan to cut more than 15,000 jobs and review its factory footprint is stoking concerns that t, Raytheon Technologies Corp. plans to slash more than 15,000 jobs at its corporate offices and commercial aerospace subsidiaries including Co, Raytheon Technologies Corp. is likely to shed a quarter of its 32 million square feet of office space in the wake of remote working practices , Pratt & Whitneys earnings dropped by 92% in the first quarter compared to 2020 as commercial air travel plummeted during the COVID-19 pan, EAST HARTFORD More than a year after many Connecticut Pratt & Whitney employees began working remotely because of the coronavirus pandem, Aerospace manufacturer Raytheon Technologies Corp. today reported second-quarter net income of $1.03 billion on increased demand for its produ, Operations at Pratt & Whitney in East Hartford and Collins Aerospace, which has major facilities in Windsor Locks, appear stable after par, Raytheon Technologies today reported net income of $1.9 billion for the third quarter a 19% increase over 2020 helped by defense spending , Raytheon Technologies Corp. CEO Gregory J. Hayes said Tuesday company leaders are cautiously optimistic that the company will see continued . Use the 'Report' link on CEOs base salary, bonus and short and long-term incentives. Pay for Performance. 1.1 Purpose.The Raytheon Deferred Compensation Plan (the Plan) is intended to be an unfunded, nonqualified deferred compensation arrangement for a select group of management or highly (2) Mr. Lawrence stepped down as an executive officer on March 30, 2019, and will retire from Raytheon effective July 14, 2019. [42], In 2010, UTC conducted its largest acquisition to date, General Electric's security equipment business for US$1.8 billion, a move to support UTC's Fire & Security unit.[43]. [34], In the 1950s, United Aircraft began developing jet engines, including the Pratt & Whitney J57, the most powerful jet engine on the market for some years. Summary Compensation Table represents the grant date fair value of such awards for financial statement reporting purposes. Overall, institutional shareholders spoke favorably about our compensation program,
In November 2008, UTC's Carrier Corporation acquired NORESCO, an energy service company. This report is not for commercial use. Our 2018 RBI FCF target also reflected lower planned net cash inflows relating to our pension plans than we had in 2017. He received a salary of $1.4 million, a In every case, we
The Committee also took into consideration relevant competitive marketplace data compiled from the Companys Peer Group. endobj Then-United Technologies President and CEO Gregory Hayes is shown on the floor of the New York Stock Exchange, Tuesday, Feb. 23, 2016. (1) The amounts set forth under the Restricted Stock and LTPP Award columns represent the full intrinsic values of such awards on the date the Board or MDCC made
bookings growth), Raytheons stock performance in 2018 was highly volatile. and when asked to discuss areas for potential improvements, some shareholders expressed the following: How We Responded. Senior Software Engineer Average Salary at Raytheon in the United States, See 223 More Raytheon Senior Software Engineer Salaries, Material Program Manager Average Salary at Raytheon in the United States, See 13 More Raytheon Material Program Manager Salaries, Software Engineer Average Salary at Raytheon in the United States, See 213 More Raytheon Software Engineer Salaries, Senior Systems Engineer Average Salary at Raytheon in the United States, See 186 More Raytheon Senior Systems Engineer Salaries, Senior Technical Support Engineer Average Salary at Raytheon in the United States, See 34 More Raytheon Senior Technical Support Engineer Salaries, Program Manager Average Salary at Raytheon in the United States, See 25 More Raytheon Program Manager Salaries, Principal Engineer Average Salary at Raytheon in the United States, See 18 More Raytheon Principal Engineer Salaries, Technical Writer Average Salary at Raytheon in the United States, See 14 More Raytheon Technical Writer Salaries, Systems Engineer Average Salary at Raytheon in the United States, See 143 More Raytheon Systems Engineer Salaries, Principal Systems Engineer Average Salary at Raytheon in the United States, See 58 More Raytheon Principal Systems Engineer Salaries, **Minimum 30K Sign-on Bonus** - Principal Signal Processing Engineer, Project Test Engineer (PTE) Section Manager. . <>stream Further, as discussed on page 52, in 2019, our CEO received a total of $10.5 million in performance-based LTPP awards
Of this total $0 was received as a salary, $0 was received as a bonus, $0 was received in stock options, $0 was awarded as stock and $0 came from other types of compensation. In the first full year since completing the merger with United Technologies, total compensation for Raytheon Technologies Corp.'s chief executive rose 11% to $23.3 [24] In October 2015, Raytheon|Websense acquired Foreground Security, a provider of security operations centers, managed security service solutions[buzzword] and cybersecurity professional services,[25] for $62 million. equity awards following a
The compensation of Raytheons CEO historically has been based on two factorsperformance and comparability to CEOs of the companies contained in the Companys Peer Group. Wed like to share more about how we work and what drives our day-to-day business. In September 2011, UTC acquired a $18.4 billion deal (including $1.9 billion in net debt assumed) for aircraft components maker Goodrich Corporation. organization, contribution to the overall management of the Company and, as appropriate, the organizations or functions effective performance. 214 0 obj (4) Effective for the 2018 RBI program and the 20182020 LTPP awards. shall not be deemed to be incorporated by reference into any other filing under the Securities Act of 1933 or under the Securities Exchange Act of 1934, including by any general statement incorporating this proxy statement except to the extent the
For dollar amounts and descriptions of the other compensation, including reportable perquisites, that the CEO and the Named Executive Officers received during 2004, please refer to the Summary Compensation Table and footnotes
The compensation reduction will apply for the annual term ending at the 2021 Annual Meeting of Shareowners. We enhanced our compensation program disclosures regarding
Ability to lead through collaboration and teamwork with both Raytheon, supplier and customer executives. This plan provides awards of restricted stock units which vest
The base salary Mr. Swanson
Under the direction of Thomas L. Phillips in 1965, it acquired Amana Refrigeration, Inc., a manufacturer of refrigerators and air conditioners.
government. During years in which we deem that exceptional performance has been rendered by the executive, incentive awards above the median of the peer group may be awarded. The 2018 RBI FCF target reflected higher planned investments
of Total-Company
Annual incentive awards provide a direct link between executive compensation and the Companys
[34][35], United Aircraft became a component of the Dow Jones Industrial Average on March 4, 1939, when United Aircraft and AT&T were added to replace Nash Motors and International Business Machines. The Board's He received a salary of $1.4 million, a bonus worth $2.5 million, and $14.5 million in stock awards and options, in addition to $1.5 million in pension earnings. [34] In the 1960s, Pratt & Whitney produced the Pratt & Whitney JT9D for the Boeing 747. Cash flow directly impacts the health of our balance sheet, which enables us to effectively
After the end of the year, the Committee evaluated Mr. Swansons performance with respect to each individual goal or objective. Award recommendations also are made on the basis of an executives level of responsibility, value to the
The 2018 RBI performance targets for all metrics were greater than the comparable 2017 RBI targets. without cause or voluntary
Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. For our CEO, the MDCC has increased his total target direct compensation each year based on, among other factors, his
The estimated total pay for a Director at Raytheon Technologies is $363,050 per year. Base Salary. Recent Shareholder Feedback. LTPP payouts
Be Proactive. New research shows that each woman experiences the disparity of gender pay gap in different ways, depending on her position, age, race and education. other companies, government contractors such as Raytheon experience not only cash outflows from pension costs, but also cash
The current base salary of Daniel P. Burnham was established in July 1999, after reviewing a competitive analysis provided by the Committee's independent compensation consultant. 212 0 obj These investments included adjusting our compensation plans based upon market data and to
In addition, restricted stock awards serve as a strong device for retaining leaders, since a leader who
Set forth
Before you decide whether variable pay is right for your org, get a deeper understanding of the variable pay options and the cultural impact of pay choices. The
basis upon which the MDCC considers these awards in proposing, recommending and approving annual compensation. [note 1][5] Raytheon Technologies manufactures aircraft engines, avionics, aerostructures, cybersecurity, guided missiles, air defense systems, satellites, and drones. With a salary cut, Raytheons CEO was paid $21 million last year as These direct compensation elements are rounded out with certain perquisites and other executive benefits.
Director Candidate Consideration and Board Refreshment, Director Orientation, Development and Education, Political Contributions and Lobbying Expenditures Disclosure, The Board of Directors and Board Committees, Management Development and Compensation Committee, Public Policy and Corporate Responsibility Committee, Compensation Committee Interlocks and Insider Participation, Proposal 2: Advisory Vote to Approve Named Executive Officer Compensation, Proposal 3: Approval of the Raytheon 2019 Stock Plan, Determination of Share Reserve Under the 2019 Stock Plan, Current Overview of Outstanding Equity Awards, Securities Authorized for Issuance Under Equity Compensation Plans, Proposal 4: Ratification of Appointment of PricewaterhouseCoopers LLP, Independent Auditors: Audit and Non-Audit Fees, Determination and Assessment of Non-Employee Director Compensation, Director Stock Ownership and Retention Guidelines, Policy Against Certain Raytheon Stock Transactions, Section 16(a) Beneficial Ownership Reporting Compliance, Multiple Copies of Annual Report to Shareholders, Important Notice Regarding the Availability of Proxy Materials, Electronic Availability of Proxy Statement and Annual Report, FULL-YEAR EPS FROM
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