How Chevron Pays

Operations and support — non-exempt

Professional ladder — PSG 17 through PSG 24

Leadership ladder — PSG 25 through PSG 30

Disclosed executive layer

Track divergence

Hierarchy qualifications and legacy structures

• CVX-1 to CVX-11 are analyst navigation bands, not Chevron grades. They exist to organise public observations; a Chevron offer letter will quote a pay salary grade that this report cannot map with certainty.
• The crosswalk is firmest between CVX-3 and CVX-8, where PSG 19 to PSG 24 observations exist. Below PSG 19 and above PSG 24 the placement is analytical, and the bundle marks it so.
• Every band represents local-payroll professional and operations staff. International assignees on expatriate terms carry tax equalisation, housing, schooling, travel and hardship elements that are assignment-specific and are excluded from every figure here.
• Rotational offshore and remote-site populations at Barrow Island, Escravos and Tengiz are priced only through a site factor. Roster loadings, site allowances and overtime are not in the model and can be the largest part of a real package.
• Joint-venture payrolls are separate systems. Tengizchevroil, GS Caltex and the Partitioned Zone operations can use their own grade structures and are not automatically Chevron Corporation grade equivalents.
• The 2025 Hess acquisition brought legacy titles, plans and pay arrangements into the group. Chevron runs a transition portal for legacy Hess employees but publishes no grade harmonisation map, so no legacy Hess title is claimed to map to a Chevron grade.

Peer-level mapping

Office and market catalogue — calibration factors versus Houston

Chevron discloses employees by broad region rather than by city, so office-level headcount is not available for any market in this table. Status labels in the bundle run from verified operating sites through market-only coverage to affiliate joint ventures, and the three affiliate markets are priced as local labour markets rather than as Chevron payroll.

Houston anchor medians — the basis of every modeled cell

• Houston is the anchor because it is the headquarters and carries the densest combination of official postings, public grade observations and visa records: 156 of the 242 retained labour condition applications sit there, at a $162,681 median base.
• The CVX-3, CVX-4, CVX-6, CVX-7 and CVX-8 anchors are direct Levels.fyi grade observations. CVX-5 is normalized between two of them because the raw PSG 21 sample reads below PSG 20 on base.
• CVX-1, CVX-2, CVX-9, CVX-10 and CVX-11 have no direct observation and are interpolated or triangulated. They are the rows to treat with the most caution.
• Bengaluru is the largest technology location outside the United States, reported at more than 1,000 professionals in October 2025, but direct Bengaluru salary observations are sparse and Chevron discloses no India headcount.
• Executive officer compensation is filed and is never location-scaled. It is held in the executive section rather than as a top band, so no city factor is ever applied to a worldwide executive figure.

Executive incentive targets — percent of salary

Named-executive outcomes

• No clean utilisation percentage can be derived. The 25,795,697 outstanding securities are not the same as shares already consumed from the current reserve, so dividing one figure by the other would mislead; the bundle deliberately refuses to publish a rate.
• The 93,262,833 securities available at 31 December 2025 are roughly 3.6 times the outstanding balance, so plan capacity is not the constraint on employee equity. Eligibility is.
• The director plan is the one pool with a clean read: 537,174 of 1.6 million shares remained, so about 66 percent of the authorisation had been used.
• Chevron does not disclose the share of long-term incentive value granted below the executive officer tier, so the split between the executive programme and everything else cannot be measured from the filings.

Equity plan capacity and executive grant design

Vesting — common reported employee schedule

The schedule above is the standard restricted stock unit and stock option cadence in the retained filings: one-third annually over three years. Performance shares work differently and are a single settlement at the end of a three-year performance period, at between 0 and 200 percent of target. Options carry a ten-year term from grant, which is why the 2026 exercises in the insider table are settling 2019 grants. Director awards follow plan-specific deferral and settlement terms rather than this schedule.

Eligibility by hierarchy level

• Chevron discloses no minimum equity-eligible pay salary grade. The strongest public signal is negative evidence: PSG 19 to PSG 22 salary samples typically show no stock at all, PSG 23 and PSG 24 samples show some, and filed executive packages are dominated by long-term incentive.
• That makes the annual cash incentive far broader than equity. About 38,000 employees were eligible for the Chevron Incentive Plan, while recurring long-term incentive eligibility appears concentrated in senior management and is nowhere disclosed grade by grade.
• Modeled grant envelopes in the bundle run $0 to $5,000 at CVX-3, $0 to $15,000 at CVX-7, $0 to $30,000 at CVX-8, $0 to $50,000 at CVX-9, $50,000 to $200,000 at CVX-10 and $200,000 to $1,000,000 at CVX-11. These are analytical estimates, not a Chevron grant schedule.
• For most of the workforce the meaningful Chevron share exposure is the Employee Savings Investment Plan stock option inside the United States 401(k), which is bought with retirement contributions rather than granted.
• Removing options from new executive grants in 2026 shifts the executive package further towards performance shares and restricted stock units, which changes the risk profile of the award rather than its headline target value.

Indicative annual grant value by band — Houston

Annualized planning value (±25%), not the face value of every new-hire grant. Share equivalents use the $199.89 reference price at 26 August 2026 12:48 UTC and ignore plan valuation rules and PSU performance. Highlighted rows are disclosed grant-date stock awards.

Named executive target equity

For the four non-chief-executive named officers the retained extract carries the Summary Compensation Table total, the filed 2025 base salary and the filed incentive target, but not the individual component columns. The stock column shown for those four is therefore a residual after salary and, where disclosed, the cash incentive: it bundles stock awards, option awards, the pension and deferred-compensation change and all other compensation, and it is not the proxy's stock-award line. A zero cash-incentive cell means the award was not in the retained extract, not that no award was paid; only Eimear Bonner's $1,443,800 award was separately disclosed.

Board compensation framework

Director pay is 60 percent equity by design, which puts a non-employee director's annual award close to the modeled long-term incentive envelope for a CVX-11 vice president. It is a governance package rather than an employment band, and it is not part of the pay ladder.

Not publicly disclosed

Modeled promotion planning timeline

The executive cycle is the only documented one: corporate performance is evaluated after year end, the 2025 Chevron Incentive Plan awards were paid in March 2026, and named executive salary changes generally took effect on 1 March 2026. For everyone else the planning heuristics run one to three years in band at CVX-1 and CVX-2, two to four years through CVX-3 to CVX-5, three to six years at CVX-6 and CVX-7, four to eight years at CVX-8 and CVX-9, five to ten years at CVX-10, and appointment rather than progression at CVX-11. Promotion depends on role scope, vacancy, discipline, performance, geography and organisational redesign.

Dataset summary

City-level H-1B wage history

All-years aggregates. P25/P75 are rounded reconstruction values marked modeled; medians and record counts are the stronger fields.

Selected title / worksite records

Evidence classification

Explicit “Not publicly disclosed” index

Known gaps and diligence before relying on a cell

1. 1The executive officer tier is deliberately excluded from the band ladder. Chevron's filed executive compensation is a single worldwide figure that the bundle explicitly never location-scales, and folding it in as a top band would have forced every city factor towards 1.0 at the top and produced absurd offshore cells such as an India business unit president on a United States chief executive base. The executive numbers are carried in full in the executive section instead, so the ladder runs CVX-1 to CVX-11 and represents employees only.
2. 2Because the executive row is out of the ladder, and because the bundle publishes a single flat factor per city, no baseFactorTop or totalFactorTop is set anywhere in this report. That is faithful to the source but almost certainly understates senior-level compression in low-factor markets; there is simply no level-by-level offshore observation in the bundle to calibrate it with.
3. 3Totals were rebuilt from base plus bonus plus equity so the components reconcile. Where the bundle's published planning total differed, the gap is recorded on the band and runs from 0.1 percent at CVX-4 to 1.6 percent at CVX-5. The CVX-1 total departs furthest, because the bundle's $68,000 figure includes overtime and shift pay that this report does not treat as base package.
4. 4At CVX-10 and CVX-11 the equity residual implied by the bundle's own planning total falls below the low end of the bundle's own modeled grant envelope, at $45,250 against a $50,000 floor and $145,500 against a $200,000 floor. The two figures in the source are internally inconsistent; this report keeps the planning total as the binding number and flags the discrepancy rather than inflating the total.
5. 5No employer benefit load is added anywhere. The 8 percent Employee Savings Investment Plan contribution and the defined-benefit pension accrual are real value but are employer cost rather than pay, so they stay in the benefits section and out of every total.
6. 6Expatriate assignment packages and rotational site allowances are excluded from every band and every city factor. Site markets such as Barrow Island, Escravos and Tengiz carry only a location premium. Any band shown for those markets represents local-payroll staff, not an assignee package.
7. 7Affiliate and joint-venture markets are priced as local labour markets rather than as Chevron payroll. Tengiz is the clearest case in this report; the bundle also leaves GS Caltex in Seoul unpriced for the same reason.
8. 8Markets the bundle marks as having no defensible factor are omitted rather than modeled: Auckland, Pembroke, Malabo, Erbil, Seoul, Caracas, Vancouver and Burnaby. Several are legacy locations where Chevron has sold the underlying asset.
9. 9Only 30 of the bundle's 75 covered locations appear here. The omitted markets are either duplicates of a retained factor, market-only coverage with no verified payroll population, or the not-publicly-disclosed rows above.
10. 10For the four non-chief-executive named officers the component columns of the Summary Compensation Table were not in the retained extract, so the stock column in the executive table is a residual that bundles stock, options, pension change and other compensation. It is labelled as such and should not be read as the proxy's stock-award line.
11. 11Chevron discloses geographic revenue in its Form 10-K, but the bundle does not carry the split, so no regional revenue panel appears in this report rather than one being reconstructed.
12. 12Only one bundle exists for Chevron, so there is no second source to cross-check against and no disagreement to adjudicate. Every figure inherits that single bundle's judgement calls.

FX rates used — 1 USD equals, snapshot 2026-08-25

Single-date conversion layer for comparability; it ignores payroll-date FX, tax, purchasing power, benefits valuation and hedging. Compensation intelligence, not legal, tax, investment, immigration or employment advice.

Source register — 25 sources

Chevron discloses employees by broad region and not by city, so no market in this report has a published headcount. The proxy's median-employee population of roughly 43,137 employees in 49 countries differs slightly from the Form 10-K total because of methodology and timing. Company-wide voluntary attrition is not disclosed, and quarterly net movement was not reconstructed because the Hess integration and the restructuring make simple year-on-year comparisons misleading.