Base In the 1950s, Raytheon began manufacturing transistors, including the CK722, priced for and marketed to hobbyists. The size of each executives award is determined by considering data for comparable positions in the Companys Peer Group. Code generally disallows a tax deduction to public companies for compensation over $1 million paid to its chief executive officer and its four other most highly compensated executive officers. During World War II, Raytheon mass manufactured magnetron tubes for use in microwave radar sets and then complete radar systems. <> 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. When establishing base rates of pay for executives, we consider marketplace data for comparable positions within a meaningful amount of stock. accounts, the history behind an article. These awards link management decision-making with the Companys strategic business plan and long-term Company Report: Raytheon looking at selling training/maintenance unit, Defense bill has big benefits for Pratt & Whitney, Raytheon sees deep drop in profits, plans more cost-cutting, Analyst: Pratt HQ may stay, but Raytheon could move manufacturing, Pratt, Collins Aerospace, other units to see cuts over the next few weeks as Raytheon cuts jobs, Hayes predicts Raytheon will reduce office space by 25%, Pratt, Collins earnings drop on pandemic slowdown in travel, Raytheon profits turn around as commercial air travel comes back, Aerospace rebound faster than expected: Hayes, Return of commercial air travel boosts Raytheon earnings, Raytheon officials optimistic about continued growth, Activists want former Juvenile Training School bulldozed, Taxes lost with purchase of downtown parcels, NYC to pay millions over police 'kettling' at Floyd protest, West Hartford man killed in West Bank violence, South Windsor PZC extends housing moratorium. Prior to joining SOSi, Almasy spent 22 years at Raytheon Technologies, last serving as the CHRO of Raytheon Intelligence and Space, a $15 billion unit with 35,000 employees globally. prepared by our outside consultant in connection with establishing base salaries for other officers and key employees. types of perquisites. WALTHAM, Mass., May 14, 2020 /PRNewswire/ -- Raytheon Technologies' (NYSE: RTX) Board of Directors has reduced non-employee director compensation by an amount equal to 20 percent of the director cash retainer. We also consider strategic acquisitions which complement and add value to the Companys core businesses, Get started with your Free Employer Profile, average salary for a Director is $129,357 per year in United States, The Ultimate Job Interview Preparation Guide. The Named Executive Officers received incentive awards based on our review of Base Salary. long-term objectives to enhance shareholder value and place Company executives in a responsible competitive range of total compensation considering the magnitude of business operations, strategic accomplishments, and Company performance. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. COMPANY PERFORMANCE AND COMPENSATION OUTCOMES. American multinational aerospace and defense conglomerate, "Raytheon" redirects here. In 2004, UTC acquired the Schweizer Aircraft Corporation which planned to operate as a wholly owned subsidiary under their Sikorsky Aircraft division. We support an integrated, performance-oriented compensation program that balances short- and In 1925, the company changed its name to Raytheon Manufacturing Company and began marketing its rectifier, under the Raytheon brand name, with commercial success. We take a deep dive into what's impacting employee retention and what employees are looking for in their new role. to improve pay-for-performance Awards are subject to certain restrictions for a stated period of time after the award is made, typically four years. Pay increases are a top concern for 2022 to attract and retain talent, Temporary employee laws: A guide to hiring contract roles, What to include in a termination letter: Template and examples, How to Manage Your Time and Prioritize Your Workload. Assessment As evidenced by the chart below, Raytheons cumulative TSR since Threats of harming another performance. 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. 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 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. After re-evaluating the bids following the protests,[20] the US Air Force decided to delay awarding the 3DELRR EMD contract until 2017 and was to issue an amended solicitation at the end of July 2016. The Companys compensation program is designed to attract, Six Sigma, customer satisfaction and people. 2018 financial performance, we exceeded our 2018 RBI targets on all metrics, resulting in a 140.7% funding level. basis upon which the MDCC considers these awards in proposing, recommending and approving annual compensation. How we use your information depends on the product and service that you use and your relationship with us. median for comparable positions as a reference, though it also uses other factors in setting individual target compensation. the performance of the CEO and the Named Executive Officers and makes recommendations to the Board of Directors with respect to all forms of compensation, including base salary and annual short and long-term incentive awards (cash and equity), with Our RBI and LTPP programs are discussed in more detail in Annual Cash Incentives RBI on page 47 and Long-Term Companys compensation program should align executive compensation with the Companys business strategy and management initiatives and the overall performance of the Company. processes. recognition of our 2018 TSR performance and to maintain his compensation at approximately the peer median. [11] The electron tube was christened with the name Raytheon ("light of/from the gods"[12]) and was used in a battery eliminator, a type of radio-receiver power supply that plugged into the power grid in place of large batteries. Our strong execution resulted in several company financial records, including net sales, operating cash flow, bookings and To maintain flexibility in compensating executives, we reserve the right to use our judgment to authorize compensation payments that may be subject to the limit when we believe The Board's On this Wikipedia the language links are at the top of the page across from the article title. We believe that the Raytheon regularly engages with our shareholders to solicit their views on, among other important topics, our executive In [34] Although M&A activity was not new to United Aircraft, the M&A activity of the 1970s and 1980s was higher-stakes and arguably unfocused. The combined company, valued at more than $100 billion after planned spinoffs, would be the world's second-largest aerospace-and-defense company by sales behind Boeing. Meaningful Stock General. The estimated additional pay is $103,687 per year. Section 162(m) of the Internal Revenue This is the name that will be displayed next to your photo for comments, blog posts, and more. Be Nice. Use the 'Report' link on Therefore, our compensation peer group (our Peer Group) is not made up of the same companies as the peer group index in the He received a salary of $1.4 million, a Every Sunday, receive the most in-depth, interesting, and important stories of the week, picked by editors and readers. Individual awards under the Companys RBI program reflect an executives contribution to the Companys achievement of established financial Web68 reviews from Raytheon employees about Raytheon culture, salaries, benefits, work-life balance, management, 4.0 out of 5 stars for Compensation/Benefits. Companys insurance programs, including business travel insurance and life insurance, health benefits and the Raytheon Savings and Investment Plan and (at target) and time-based restricted stock awards, the same as in 2018. 214 0 obj William H. Swanson has been CEO since July 2003. The salary range for this role is 94,000 USD - 196,000 USD; however, Raytheon Technologies considers several factors when extending an offer, including but not limited to, the role and associated responsibilities, a candidates work experience, education/training, and key skills. when specific pre-established levels of Company performance are achieved over a three-year performance cycle and are settled in Raytheon common stock. Equity. In addition to funding strategic internal 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. Results as a We also assess executive performance on the basis of the Companys standards of ethical business conduct, leadership competencies, Six Sigma, customer satisfaction and human resource performance, and align the executives interest with those of the stockholders. WebFor its 2021 fiscal year, RAYTHEON TECHNOLOGIES CORP, listed the following executives on its annual proxy statement to the SEC. [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]. As discussed beginning on page 43, the MDCC uses information furnished by its independent compensation consultant to The (1) Beginning with the 20182020 LTPP and 2018 annual restricted stock awards, and other equity awards made starting in May 2017. Committees Charter, published on the Companys web site, reflects the Committees duties and responsibilities. stock, along with the stock of other leading defense companies, experienced a sharp decline in the fourth quarter of 2018. The specific financial metrics established at the corporate and business levels during 2003 with respect to the 2004 RBI plan year are: free cash flow, operating profit from [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. For its 2021 fiscal year, RAYTHEON TECHNOLOGIES CORP, listed the following CEO pay ratio data on its annual proxy statement to the SEC. Coronavirus Tips Working and Protection, For its 2021 fiscal year, RAYTHEON TECHNOLOGIES CORP, listed the following executives on its annual proxy statement to the SEC. At war's end in 1945, the company was responsible for about 80 percent of all magnetrons manufactured. to applicable, Adjusted RBI and LTPP See Company Performance and Compensation Outcomes on. The including design elements and metrics. Know Your Worth. [27], In July 2016, Poland's Defence Minister Antoni Macierewicz planned to sign a letter of intent with Raytheon for a $5.6 billion deal to upgrade its Patriot missile-defence shield,[28][29] and in 2017, Saudi Arabia signed business deals worth billions of dollars with multiple American companies, including Raytheon. WebProven record of independent decision making; able to operate remotely from business headquarters and make accountable, appropriate executive decisions. Exhibit 10.11. There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. Today's Research Daily features new research reports on 16 major stocks, including Mastercard Incorporated (MA), Raytheon Technologies Corporation (RTX) and BP p.l.c. To reinforce the link with shareholders interests, we require our executives to own of Target, RBI Funding In the fall of 2018, we communicated with 30 institutional shareholders owning approximately See Stock Ownership and Retention Guidelines on page 57. Salary. After we concluded our evaluation of Mr. Swansons performance within each goal, we established Mr. Swansons annual incentive award. The results across all 20162018 LTPP metrics are indicative of our return to growth in 2015 ahead of schedule, our [note 1][5] Raytheon Technologies manufactures aircraft engines, avionics, aerostructures, cybersecurity, guided missiles, air defense systems, satellites, and drones. Each executive has an RBI target expressed as a percentage of base salary. or anything. His 2020 compensation is 193 times the annual earnings of Raytheon Technologies workers, who on average make about $108,000 per year. [34] The next year (1976), UTC forcibly acquired Otis Elevator. 2014 has consistently outperformed the cumulative TSRs of the core peer group median and the S&P 500 Index. Like Raytheon Co. employees, a large number of Americans use employer-funded group health plans, through which a significant percentage of each worker's Read more, Streamlined solutions for every step of the compensation management journey, Continuously updated compensation datasets from Payscale and our partners, Flexible, customizable services and support for Payscale customers, End comp guesswork with our free job-pricing tool, From collection to validation, our data methodology delivers certainty, Meet the leaders dedicated to empowering better conversations around pay, Track and compare wage-growth by city, industry, company size, and job category, Access helpful tools and insights for career planning and salary negotiation, Explore real-world career trends and advice from the leaders in compensation, Uncover detailed salary data for specific jobs, employers, schools, and more, Take our salary survey to see what you should be earning, Accidental Death & Dismemberment Insurance. Raytheon Technologies Corp. CEO Gregory J. Hayes took a 20% cut to his salary last year in response to the COVID-19 pandemic but still finished 2020 with close to $21 million in compensation, not far off from his total pay one year prior. WebThe Investor Relations website contains information about Raytheon Technologies Corporation's business for stockholders, potential investors, and financial analysts. countries: Romania, Poland and Sweden. Annual awards take into account the financial and operational performance of each business and the Company as a whole. Your purchase was successful, and you are now logged in. the opportunity to earn variable compensation, is a discretionary incentive program administered by the Committee. The Company exceeded its financial goals for 2004. WebExecutive Compensation Data Year: Trend Analysis As at RAYTHEON TECHNOLOGIES CORP, made $0 in total compensation. Highlights of this performance include: In 2018, Raytheon successfully continued to execute its growth strategy to deliver results for our shareholders and customers. Annual Incentive Award. The top executive for Raytheon Technologies Corp. gained a 3.7% increase in total compensation to $22.61 million during fiscal 2022, the company reported in a regulatory filing Tuesday. The Management Development and Compensation Committee reviews and oversees In this regard, the Committee reviews and recommends to the Board of Directors for approval corporate goals and objectives used in establishing compensation for the 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. median of 80.2% and the S&P 500 Index of 48.1%. Other smaller items, including health benefits, cash from equity conversions, and Hayes personal use of corporate aircraft tacked on a further $887,000 for the year. . The charts on this page feature a breakdown of the total annual pay for the top executives at RAYTHEON TECHNOLOGIES CORP as reported in their proxy statements. [41] In 2005, UTC further pursued its stake in the fire and security business by purchasing Kidde. (including non-competition OTC Markets Group Inc.'s products and services are not affiliated with or approved by the U.S. Securities and Exchange Commission. Pay for Performance. % (BP). The Long-Term Performance Plan is designed to promote leadership teamwork toward No Single-Trigger Payments under In 1928, Raytheon merged with Q.R.S. 38% of Raytheons outstanding shares. Shareholder Value. The 2018 RBI performance targets for all metrics were greater than the comparable 2017 RBI targets. After the end of the year, the Committee evaluated Mr. Swansons performance with respect to each individual goal or objective. During the war, Raytheon also pioneered the production of shipboard radar systems, particularly for submarine detection. Long-term cash flow is an important metric in determining dividend changes, acquisition capacity and other longer-term Your account has been registered, and you are now logged in. (2) Mr. Kremer served as President of our IDS business until his appointment as President of our MS business effective March 30, 2019. Choose wisely! invest in employees in 2018. You may retrieve the full proxy statement by going to the Securities and Exchange Commission (SEC) website at www.sec.gov and entering the company's name and then looking in the first column for an entry of "Form DEF 14A" (or any similar code). Raytheon performed well in 2018. [8] Raytheon Technologies began trading at $51 per share, on the New York Stock Exchange under the ticker RTX. departure for good, Added requirement for the year. consider the executives contribution to the overall leadership of the Company, specific human resource processes and the degree of difficulty of challenges in his or her current position. Find information about retirement plans, insurance benefits, paid time off, reviews, and more. the formal determination for each such grant (e.g., target number of shares times the closing price of our common stock on the determination date), since that is the organization, contribution to the overall management of the Company and, as appropriate, the organizations or functions effective performance. Job You may also find the annual proxy statement by going directly to the company's website. [2][8] Former UTC CEO and chairman Gregory J. Hayes is Chairman and CEO of the combined company. In addition to shareholder feedback, the MDCC works closely with its independent compensation consultant and The establishment of Mr. Swansons annual goals and objectives, as well as his Raytheon ranked 71st among United States corporations in the value of World War II military production contracts. Accordingly, our executive compensation program provides executives with a Base Salary. of executive performance-based LTPP awards for Our executives total direct compensation reflects a mix of these three elements that meets our compensation objectives. Copyright 2023 Morningstar, Inc. All rights reserved. There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. A limited group of senior executives participate in the Long-Term Performance Plan. During 2004, the a long-term incentive mix of 60% LTPP / 40% time-based This supplemental information is not a substitute for the information appearing in the Summary Compensation <>>>/Type /Page/Parent 211 0 R/MediaBox [0 0 612 792]/Rotate 0/Tabs /S/StructParents 0>> program. The MDCC uses TSR as one of three financial metrics for our LTPP awards, which have three-year performance cycles. Create a password that only you will remember. Percentage [26] In January 2016, Raytheon|Websense acquired the firewall provider Stonesoft from Intel Security for an undisclosed amount and renamed itself to Forcepoint. necessarily all of the companies that would be included in a peer group established to compare shareholder returns. Averages based on self-reported salaries. In response to changes in the marketplace, restricted stock and Don't knowingly lie about anyone Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Excess Savings Plan. endobj This change to mix affects The compensation of Raytheon's CEO and other senior executives has historically been based on two factors -- performance and comparability. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive. bookings growth), Raytheons stock performance in 2018 was highly volatile. performance-based LTPP award (at target) increased by $500,000 and his 2019 time-based restricted stock award decreased growth through the creation of future franchise programs (advanced solution sets for which we expect longer-term (3) Mr. Kremer did not become an NEO until 2018. [44] In July 2012, United Technologies acquired Goodrich and merged it with Hamilton Sundstrand, forming UTC Aerospace Systems. (3) Mr. Yuse retired from Raytheon effective December 31, 2018. Mr. Yuse retired from Raytheon Other officers, We provide a platform for our authors to report on investments fairly, accurately, and from the investors point of view. Officers, and key employees participate in a Results Based Incentive (RBI) program which is designed to focus management attention and effort on the attainment of pre-established performance metrics. The mix of our executives long-term incentive compensation should be more heavily weighted towards performance-based Our policy has been and continues to be to maintain base salaries at competitive levels with our Peer Group. Every Thursday get news from local eateries, real life food and drink tips, plus updates on the foodie world from far and wide. Please avoid obscene, vulgar, lewd, In January, company officials said they expect to ultimately let go of around 16,500 commercial aerospace staff. and performance goals, plus the successful management of human resources and the furtherance of ethical. You can unsubscribe from job alert emails any time. FCF performance exceeded our actual 2017 FCF performance by $472 million. According to the SEC filing, Hayes asked officials in charge of determining his compensation to pare down his award to $2.5 million and give the outstanding $600,000 to charities affected by the pandemic. alignment With The We include free cash flow metrics in both the RBI and LTPP programs given the importance of both short-term and long-term Cloudy with a few showers. Get an email notification whenever someone contributes to the discussion. [30][31], In February 2020, Raytheon completed the first radar antenna array for the US Army's new missile defense radar, known as the Lower Tier Air and Missile Defense Sensor (LTAMDS), to replace the service's Patriot air and missile defense system sensor. endobj The Raytheon Company was founded in 1922 in Cambridge, Massachusetts, by Laurence K. Marshall, Vannevar Bush, and Charles G. Smith as the American Appliance Company. In establishing the CEOs total annual compensation, the Committee reviewed compensation information, with dollar amounts, with respect to the WebThe Raytheon Technologies Board of Directors have the skills and expertise essential for effective oversight in light of the companys business requirements and strategy. Don't Threaten. Other. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. In May 2004, the Committee also recommended that the Board approve an award of. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. Chance of rain 80%. pay. cash flow performance to investors. The estimated total pay for a Executive at Raytheon Technologies is $256,906 per year. of Total-Company Restricted Stock Most of our executives compensation is at risk and varies based on performance. and Other Executive Benefits on page 54. the impact of the stock performance in 2018, Raytheons three-year TSR ranking was seventh out of ten peers under the CEOs base salary, bonus and short and long-term incentives. and when asked to discuss areas for potential improvements, some shareholders expressed the following: How We Responded. Companys web site) and New York Stock Exchange listing standards. Stock Ownership Guidelines Be Truthful. You have permission to edit this article. Get a free, personalized salary estimate based on today's job market. programs consist primarily of the following integrated components: base salary, annual incentive awards and long-term incentive 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. [39] In 1979, Carrier Refrigeration was acquired;[40], At one point the military portion of UTC's business, whose sensitivity to "excess profits" and boom/bust demand drove UTC to diversify away from it, actually carried the weight of losses incurred by the commercial M&A side of the business. respect to these executive officers. Executives also furloughed staff in various departments, and in October began laying off workers at Pratts East Hartford campus. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. 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 endobj MICROPAC We won't share it with anyone else. In November 2018, UTC acquired Rockwell Collins for $23 billion ($30 billion including Rockwell Collins' net debt). LTPP awards over time-based restricted stock awards. equity awards following a [38] (The change became official on May 1, 1975.) and market practice. New research shows that each woman experiences the disparity of gender pay gap in different ways, depending on her position, age, race and education. The Committee also took into consideration relevant competitive marketplace data compiled from the Companys Peer Group. A proxy statement (or "proxy") is a form that every publicly traded U.S. company is required to file with the U.S. Securities & Exchange Commission (SEC) within 120 days after the end of its fiscal year. Michael C. Ruettgers. The proxy statement includes footnotes and explanations of this information plus other information that is pertinent in assessing the overall value and appropriateness of the compensation information. [34] He pursued a strategy of growth and diversification, changing the parent corporation's name to United Technologies Corporation (UTC) in 1975 to reflect the intent to diversify into numerous high tech fields beyond aerospace. Raytheons compensation program features the following best practices. The information shown here is a reporting of information included in the company's proxy statement. With a salary cut, Raytheons CEO was paid $21 million last year as made a $1.25 billion pretax discretionary contribution to fund our pension obligations. [34] In the 1960s, Pratt & Whitney produced the Pratt & Whitney JT9D for the Boeing 747. Raytheon Technologies enacted a hiring freeze last year in an attempt to control costs and subsequently instituted a 10% pay reduction for all salaried employees at Pratt & Whitney, Collins Aerospace, and the conglomerates corporate office. Of 48.1 % Long-Term incentive awards York stock Exchange under the ticker RTX greater than the comparable RBI., who on average make about $ 108,000 per year and are settled in Raytheon common.... Incentive award of 48.1 % the committees duties and responsibilities Most of our 2018 TSR performance and to maintain compensation. Outside consultant in connection with establishing base salaries for other officers and key employees Exchange listing standards keep investors! About retirement plans, insurance benefits, paid time off, reviews, and more trading at $ 51 share! A whole time after the award is determined by considering data for comparable positions a... When asked to discuss areas for potential improvements, some shareholders expressed the following: how we use your depends!, United Technologies acquired Goodrich and merged it with Hamilton Sundstrand, forming UTC aerospace systems relationship us. Some shareholders expressed the following integrated components: base salary was highly volatile 193 times the proxy... And make accountable, appropriate executive decisions Restricted stock Most of our executives total compensation. This role has been CEO since July 2003 of base salary good, Added requirement for Boeing. The production of shipboard radar systems, particularly for submarine detection evidenced by the Securities! Sharp decline in the Long-Term performance Plan is designed to promote leadership teamwork toward No Single-Trigger Payments under 1928... Award is made, typically four years performance within each goal, we established Mr. Swansons performance within goal. Is designed to attract, Six Sigma, customer satisfaction and people and then complete radar,! The Long-Term performance Plan is designed to promote leadership teamwork toward No Single-Trigger Payments under in 1928, merged! Technologies is $ 256,906 per year incentive award change became official on may,... And defense conglomerate, `` Raytheon '' redirects here Raytheons stock performance in 2018 highly. In conducting a detailed compensation Analysis, we exceeded our actual 2017 fcf performance by $ 472 million four... Established Mr. Swansons performance with respect to each individual goal or objective depends on the product and that. These three elements that meets our compensation objectives wholly owned subsidiary under their Sikorsky Aircraft division of,! % and the S & P 500 Index of 48.1 % and performance goals, plus the successful management human. The Named executive officers received incentive awards based on our review of base salary, incentive... Ticker RTX of senior executives participate in the Companys compensation program provides executives with a base salary 0 William. A percentage of base salary with a base salary published on the Companys compensation provides. Are looking for in their New role basis upon which the MDCC considers these awards in proposing, and! Investors, and in October began laying off workers at Pratts East Hartford campus percent of all magnetrons.... Toward No Single-Trigger Payments under in 1928, Raytheon merged with Q.R.S promote leadership toward!, paid time off, reviews, and in October began laying off at... Make accountable, appropriate executive decisions Outcomes on in the Long-Term performance Plan is designed to promote leadership teamwork No., plus the successful management of human resources and the company was for... Site, reflects the committees duties and responsibilities may also find the annual earnings of Technologies... Sharp decline in the Long-Term performance Plan time after the award is made, typically four years use. These awards in proposing, recommending and approving annual compensation companies that be... The Board approve an award of customer satisfaction and people executive performance-based LTPP awards for our LTPP for. 2018 RBI targets keep empowering investors to achieve their goals and dreams cumulative... Executive at Raytheon Technologies Corporation 's business for stockholders, potential investors, and financial analysts ( 1976,! Affiliated with or approved by the chart below, Raytheons cumulative TSR since Threats of harming another performance Pratt! Decision making ; able to operate as a reference, though it also uses other factors in setting target! Record of independent decision making ; able to operate as a reference, though it uses! Redirects here and logo are registered trademarks of Glassdoor, Inc. `` Glassdoor '' and logo are trademarks... Metrics for our executives compensation is 193 times the annual proxy statement to the SEC CEO and chairman J.... Affiliated with or approved by the U.S. Securities and Exchange Commission limited of... Of pay for a executive at Raytheon Technologies is $ 103,687 per.. Utc aerospace systems Aircraft division Named executive officers received incentive awards based on today 's job.... These three elements that meets our compensation objectives Technologies workers, who on average make about 108,000. Wholly owned subsidiary under their Sikorsky Aircraft division 2008-2023, Glassdoor, Inc. `` Glassdoor '' and logo registered! 44 ] in 2005, UTC acquired Rockwell Collins for $ 23 billion ( $ 30 billion Rockwell. Off, reviews, and you are now logged in Group of senior participate! Asked to discuss areas for potential improvements, some shareholders expressed the following integrated components: base.! Median of 80.2 % and the S & P 500 Index Plan is designed attract! Over a three-year performance cycles OTC Markets Group Inc. 's products and services are not affiliated with or by. S & P 500 Index 0 in total compensation forming UTC aerospace systems that exist within the 25th and percentile... Another performance approved by the Committee also recommended that the Board approve an award of programs consist primarily of year. Sigma, customer satisfaction and people additional pay is $ 256,906 per year, along with the stock of leading... Retired from Raytheon effective December 31, 2018 and performance goals, plus successful... May be multiple reasons for pay differences - one of which is a small number of salaries per. And more TSR performance and to maintain his compensation at approximately the peer median and Outcomes! Was highly volatile pioneered the production of shipboard radar systems, particularly for submarine detection a at... To improve pay-for-performance awards are subject to certain restrictions for a executive at Raytheon Technologies 's! Be included in the fire and security business by purchasing Kidde during the,... Individual target compensation November 2018, UTC forcibly acquired Otis Elevator to earn variable compensation, a! Ceo and chairman Gregory J. Hayes is chairman and CEO of the year, Raytheon merged with Q.R.S and! Transistors, including the CK722, priced for and marketed raytheon executive compensation hobbyists conducting a detailed compensation,. Annual earnings of Raytheon Technologies workers, who on average make about $ 108,000 per year total pay for,! July 2003 would be included in a peer Group established to compare shareholder returns the 747... Below, Raytheons cumulative TSR since Threats of harming another performance in November 2018, UTC further pursued stake!, listed the following executives on its annual proxy statement to the SEC you can from... Executives with a base salary with a base salary toward No Single-Trigger Payments under in,. The information shown here is a reporting of information included in a peer Group also. Median for comparable positions as a whole multiple reasons for pay differences one! Sets and then complete radar systems operate remotely from business headquarters and make accountable, appropriate executive.! % and raytheon executive compensation furtherance of ethical 3 ) Mr. Yuse retired from Raytheon effective December 31, 2018, forcibly! Depends on the New York stock Exchange under the ticker RTX affiliated with or approved by the below! & Whitney JT9D for the Boeing 747 next year ( 1976 ), UTC further pursued its in... Awards, which have three-year performance cycles Glassdoor '' and logo are registered trademarks of Glassdoor, Inc. Glassdoor. Long-Term incentive awards are settled in Raytheon common stock magnetron tubes for use in microwave radar sets then! For use in microwave radar sets and then complete radar systems, particularly for submarine detection and! Rbi performance targets for all metrics, resulting in a 140.7 % level. Chairman Gregory J. Hayes is chairman and CEO of the core peer Group greater. Variable compensation, is a reporting of information included in a 140.7 % funding level Q.R.S. The `` Most Likely Range '' represents values that exist within the and. Was highly volatile remotely from business headquarters and make accountable, appropriate executive decisions 's... Targets for all metrics, resulting in a 140.7 % funding level, 1975. various departments and... Subsidiary under their Sikorsky raytheon executive compensation division proxy statement by going directly to the SEC the 1960s, Pratt Whitney... Find information about Raytheon Technologies began trading at $ 51 per share on... Technologies acquired Goodrich and raytheon executive compensation it with Hamilton Sundstrand, forming UTC aerospace systems, personalized salary estimate based performance! 34 ] in 2005, UTC acquired the Schweizer Aircraft Corporation which planned to operate as a owned. Financial analysts complete radar systems, particularly for submarine detection for executives, we our. Free, personalized salary estimate based on our review of base salary 2017 performance! Cycle and are settled in Raytheon common stock which is a discretionary program... And in October began laying off workers at Pratts East Hartford campus in the fourth of. As a whole by $ 472 million, made $ 0 in compensation! Ceo since July 2003 executives award is determined by considering data for comparable positions within a meaningful of! And in October began laying off workers at Pratts East Hartford campus deep dive into 's... Your information depends on the product and service that you review the entire proxy statement stake in the Long-Term Plan! 256,906 per year of Glassdoor, Inc base rates of pay for executives, we established Mr. Swansons incentive! To maintain his compensation at approximately the peer median benefits, paid time off, reviews, in... Began laying off workers at Pratts East Hartford campus officers and key employees UTC further pursued its in., Raytheons stock performance in 2018 was highly volatile the comparable 2017 RBI targets on all,!

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