Individual compensation outcomes will vary depending on
company results, global trading, and individual performance, Exxon said.
Exxon launched a major push into trading in 2019, but pulled
back in 2020 as the COVID-19 pandemic crushed energy demand. It rebooted and
restructured the operation last year under a new chief.
The trading unit helped the company beat fourth-quarter
profit estimates earlier this month.
"The company plans to offer competitive salaries,
informed by benchmarking," Exxon said in a statement.
Earlier in the day, Bloomberg News had reported that the
energy firm informed traders in the U.S. and Europe this month that base
salaries would be cut to better align with industry standards.
Under the new compensation structure shared internally this
month, the bonuses are the only way to offset salary cuts for some traders, the
report added.