Archive » United Kingdom » OTE "On Target Earnings" and other BS
Member # 7141
|Posted March 05, 2004 03:21 PM |
Here's a topic that I think is very relevant to any HSMP holders or others who may be looking for a job. When looking at advertisements for jobs, I constantly see many ads that show the salary accompanied by the letters OTE.
Up till now I assumed that this was a common term and therefore I have been too embarrassed to ask people what OTE means. Yesterday I went to a business library and searched in about 5 dictionaries of business term and acronyms and couldn’t find OTE. The librarian didn’t know either. I finally found it buried in a book on salary negotiations. The book stated that OTE jobs should be avoided because the OTE or On Target Earnings salary is very misleading because the "target" can never be realistically achieved. The book also denounces as misleading advertisements which state that the salary is “attractive,” “competitive,” or “AAE – according to age and experience,” all meaningless terms.
It would be interesting to get others’ opinions or personal experiences on this topic.
Member # 7448
|Posted March 05, 2004 04:29 PM |
This is interesting and useful information. Thanks for sharing.
However I am not able to share similar experience although I applied a couple of times. But I wonder where you've seen such OTE ads cause I did not notice such.
To light a candle is to cast a shadow...
Member # 7225
|Posted March 05, 2004 04:30 PM |
nice info J, i never saw or may be i overlooked OTE, will have closer looks to such terms
by the way if i come across any such term i Google first
Member # 4428
|Posted March 05, 2004 04:47 PM |
In my last employment, we used to have something on similar lines for senior staff, who were not in the front office Bonus pools. They were given an amount called Target Bonus, decided upfront during the yearly objective setting.
I remember most of they being unhappy with what they got.... tricky concept.
Member # 7446
|Posted March 05, 2004 05:32 PM |
OTE is widely used for Sales people, however for Senior people with profit/loss responsibilities, I've seen a notable increase of them, not only in SA but also in UK jobs.
Indeed, very interesting.
[ March 05, 2004: Message edited by: JayGee ]
Member # 1945
|Posted March 05, 2004 06:48 PM |
Any idea what "cpm" means with regards to "Apartment Rents" ??
I see this in many apartment advts.
Member # 1907
|Posted March 05, 2004 07:03 PM |
Do you mean pcm? If so that is per calendar month. Most of the time rents in the UK are specified per week so pcm is somewhat rare.
Member # 5984
|Posted March 07, 2004 12:23 PM |
Yup OTE primarily a sales remuneration thing especially in finance/banking, advertising, insurance and real estate. I understand they are usually based on the highest earners making them appear quite attractive.
To get per calendar month rent multiply weekly rent by 52 (weeks) and divide by 12 (months).
---audi alteram partem---
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