Pros

Strong, financially stable company with an experienced and knowledgable management group. They are very aware of work/life balance issues and go out of their way to promote a healthy balance. Benefits are great and everyone very friendly like a big family.

Cons

There is a significant rift between the way management's pay and development are handled in comparison to non-management professional staff. While executives have been raking in millions of dollars in bonuses and stock options, non-management staff merit increases have not even been able to keep up with inflation. While I have a lot of respect for our management team, it is disheartening to come to work every day and see their new Mercedes or Ferrari's parked in executive parking because of the success of the last few years, while the real incomes of non-management have been shrinking (due to inflation). It is especially ironic considering inflation is being driving by the same thing that has been providing us with record revenues and profits: energy prices.

Career development is a new concept at Valero, unless you are in the executive development program, which is a detailed and extensive program. If you are just a working class professional, your development options are limited to "core competency" courses stressing objectives that offer very little value to developing ones career or learning new skills.

Not surprisingly, there has been an exodus of a large number of young, smart and hard working individuals to other companies. This is because Valero's assets grew a lot faster than its ability to develop and recognize people. There is no uniform career path progression, so you might see an extremely talented individual who offers a lot to the organization in terms of shareholder value be stuck in the same position for years, meanwhile a less-talented person gets promoted through the ranks simply because talent management is severely lacking.

Advice to Senior Management

Get a firmer hold of talent management with an eye to the future leaders.

Narrow the disparity between executive compensation and the average employee. Nothing will kill moral faster than watching your boss pull up in an exotic sports car while employees are figuring out how to cope with rising prices.