Lincoln Electric "profit sharing bonus" Reviews | Glassdoor

Lincoln Electric Employee Reviews about "profit sharing bonus"

Updated Feb 25, 2020

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2.8
39%
Recommend to a Friend
64%
Approve of CEO
Lincoln Electric President and CEO Christopher L. Mapes
Christopher L. Mapes
101 Ratings
Pros
Cons
  • "in premiums and deductibles) before Lincoln's health insurance covers 100% of expenses(in 16 reviews)

  • "Low Salary / High Bonus system that encourages extreme competition among employees(in 15 reviews)

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Reviews about "profit sharing bonus"

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  1. "Mechanic"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Compensation and Benefits
    • Senior Management
    Current Employee - Machine Repair Mechanic 
    Recommends
    Neutral Outlook
    No opinion of CEO

    I have been working at Lincoln Electric full-time for less than a year

    Pros

    Yearly profit sharing bonus, competitive pay, full benefits, employer match 401k contributions

    Cons

    Can be very labor intensive

    Lincoln Electric2019-11-07
  2. "Good company to work for"

    StarStarStarStarStar
    Former Employee - Mechanical Engineer 

    I worked at Lincoln Electric full-time for more than 10 years

    Pros

    Excellent Profit sharing bonus system and benefits

    Cons

    Health Care cost very expensive

    Lincoln Electric2020-02-25
  3. Helpful (4)

    "Good old boys club"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Human Resources Manager in Euclid, OH
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at Lincoln Electric full-time for more than 3 years

    Pros

    potentially the Profit Sharing bonus but it is heavily taxed

    Cons

    Management, HR, opportunity to grow internally and very poor leadership at the top

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    Lincoln Electric2018-03-07
  4. Helpful (17)

    "One of the Worst places in America to work!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Euclid, OH
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I have been working at Lincoln Electric full-time for more than 3 years

    Pros

    The pros of Lincoln is that they've been around a while and have multiple locations. They are also easily accessible off of the freeway.

    Cons

    I can't name all of the cons but I'll give you a few. Lincoln is still living off of its old reputation. They used to actually take care of their employees and compensated them well. But now the times have changed and management thinks that the people on the floor make too much money. The piecework system is antiquated and is almost akin to working in a sweatshop. I've seen people work 12hrs and make $20 for the day. The company can arbitrarily cut prices on a products piece price to cut wages for employees. For instance, today you could produce 10,000 lbs and make about $22.00/hr. Tomorrow you can run the same amount of material and be making $15.00/hr. All the while that products price wasn't cut in the store. Lincoln will make more money off of that product now that they are paying their employees less to produce it. The bonus system is a joke. If you've worked there for any length of time you'll know that it's not a bonus. Its deferred compensation. They are just holding part of your pay until the end of the year and then will decide if they will distribute it. How can the company do better than last year financially, but the bonus this year is slated to be less than last year. Its profit sharing right? Many employees come to Lincoln with the promise that if you show up to work and work hard, that you will have a big bonus at the end of the year. Then after busting their behinds all year trying to live up to expectations, they soon find that you will never meet those expectations. Alot of times, you aren't even given a set of goals to meet. But that won't stop them from using it against you in your review. Many of the supervisors have a phrase that they use as an excuse to steal your points. It might be in the Lincoln management handbook of bs. If you hear "we are raising the bar", just know that you've been had. They continuously change the rules in the middle of the game. Its a game of politics and if you are well liked, then you may get good points. But the minute you stand up for yourself or ask why something is happening, you will be branded and your points will suffer. This time of year, people used to walk around the place smiling and laughing. Not so much anymore. Its very depressing showing up to work. If you work there, you know with the swing shift, Lincoln controls most of your life. Especially if you are on 10-12hr shifts. Preferential treatment is given in some depts to individuals to accommodate them or management so that they can work a straight shift and not have to swing. That happens at the expense of those that do swing and causes discontent in some depts. Last but not least, it is widely known that Lincoln loves snitches, brown nosers, and those who cheat. When I first started working there, I encountered tattle telling on another level, by a grownup. It blew me away. The company stresses teamwork but the whole system is geared towards individuals. I've seen employees get their ideas stolen by management, after being told that it was too expensive to implement. I've seen people get told in because someone didn't like their body language. (No lie). Its crazy! This may sound like a disgruntled employee but that's not the case at all. I've actually done ok there. I just recognize bs when I see it and would like to let everyone know before they submit their application.

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    Lincoln Electric2017-12-08
  5. Helpful (2)

    "Sales"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - TSR 
    Recommends
    Neutral Outlook
    No opinion of CEO

    I have been working at Lincoln Electric full-time for more than 10 years

    Pros

    Good work life balance, industry leader, job security

    Cons

    Non-competitive compensation, as nice as the profit sharing "bonus" is at the end, realistically it barely makes us competitive with our industrial gas suppliers

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    Lincoln Electric2017-12-03
  6. Helpful (14)

    "Poor employee morale"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Cleveland, OH
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Lincoln Electric full-time for more than 10 years

    Pros

    Lincoln is historically known as a hard place to work. They reward hard work with very nice profit sharing bonuses. The more you contribute to the success of the company, the better you get rewarded. Lincoln has been around for nearly 120 years and is a stable company to work for with a reputation for producing well made welding equipment and consumables. There are many people that work at Lincoln that have stuck with it for 40+ years. Most management treats employees in a professional manner and there is a diversity group that can assist with employee issues. Lincoln has a really good program for new hire engineering/sales trainees.

    Cons

    Lincoln is a HARD place to work for. The employee morale is very low. The work environment is hot and dirty on most of the factory floor. Opportunity for advancement is limited for most. The entire cost of the employee's health insurance comes out of the profit sharing bonus - leaving many with little to no bonus. Pay raises are far and few between and the manufacturing personnel are paid on piecework. It keeps getting harder and harder to make money the longer a person is there. Many people make about half of what they did a few years ago. There is a very big division between the engineering/office staff and manufacturing personnel. Employees are usually on edge because of prospect of having their pay cut. The Lincoln facilities have no frills. There is no exercise rooms, no wifi, or any of the things that you may find at newer, more progressive companies. There is a simple cafeteria, and vending machines scattered about the factory.

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    Lincoln Electric2016-04-05
  7. Helpful (4)

    "Do your homework"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Recruiting Supervisor in Euclid, OH
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Lincoln Electric full-time for more than a year

    Pros

    Decent culture. Community driven organization, decent values

    Cons

    Compensation if you are a professional. They offer a lower base salary but say you can make it up with the profit sharing bonus but they only pay you 75% of the Bonus first year due to their PDS rating system. Your healthcare cost also come out of the bonus and it is taxed at 25% basically you will lose money going to work for this company, for your first three years. Very little room to grow professionally, good old boys club philosophy. Buyer Beware if you are a professional but decent if you are in production as a pieceworker.

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    Lincoln Electric2015-12-08
  8. "Engineer"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Cleveland, OH
    Recommends
    Negative Outlook

    I worked at Lincoln Electric full-time for more than 5 years

    Pros

    Lincoln has some of the hardest working employees you'll ever meet. The unique profit sharing bonus is highly motivating to all employees.

    Cons

    1. The unique profit sharing bonus can highly motivate certain employees to cast heavy shadows on peers to improve their own appearance. 2. The employee pays 100% of own health insurance. 3. As such a large portion of the yearly pay is in form of the end of year bonus, the base salary is far from being anything to brag about. 4. During economic slumps, the company can become short-sited and make decisions that adversely affect its long-term goals.

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    Lincoln Electric2015-08-05
  9. Helpful (1)

    "Strong, stable company where hard work can pay off with a long-term career."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Technical Sales Engineer in Dallas, TX
    Recommends
    Neutral Outlook
    Approves of CEO

    I have been working at Lincoln Electric full-time for more than 8 years

    Pros

    -very stable, company always makes money -'family' feel despite being a large company -excellent engineering team behind the products -profit sharing program

    Cons

    -limited knowledge of finance/profitability -limited ability for individuals to negotiate -profit sharing program

    Lincoln Electric2015-04-02
  10. "Overall a good place to start or finish your career."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Engineer in Cleveland, OH
    Recommends
    Positive Outlook

    I have been working at Lincoln Electric full-time for more than 5 years

    Pros

    Excellent profit sharing bonus plan, excellent cafeteria since being renovated summer 2014, stable company with excellent growth, good health insurance plan.

    Cons

    Annual raises can be less than enough to cover cost of living increase, year end profit sharing bonus can be great one year and drop by 50% the next. Base salary very low since bonus is regarded as part of a total compensation package and not a bonus in the normal sense.

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    Lincoln Electric2015-01-30
Found 12 reviews