MANAGEMENT BENEFITS
Compensation
Approximately more than half or restaurant management compensation is
performance-based. That means you determine how much you make based on how well
you perform in terms of sales, profits, and people statistics.
| TARGET INCOMES FOR WAFFLE HOUSE, INC. MANAGEMENT |
Unit Manager
Manages one restaurant |
$43,000 to $49,000 |
District Manager
Manages three restaurants |
$78,000 to $85,000 |
Division Manager
Manages 7-12 restaurants |
$88,000 to $94,000 |
Vacation
Waffle House, Inc. Operations Management receive three weeks of paid vacation
per fiscal year (June through May), which includes one ten-day vacation and two
seven-day vacations.
Waffle House, Inc. Stock
Waffle House, Inc. stock is the best way to build personal financial wealth
for you, your family and for retirement. Waffle House, Inc. is privately held,
so the price of its stock does not vary daily with Wall Street market pressures.
The stock price is mainly a function of profitability and Waffle House has a
great track record for more than 51 years of performance.
You can accumulate wealth through Waffle House, Inc. stock in three ways:
- Direct Purchase Plan: Deduct up to 10% of your paycheck to purchase stock.
You are eligible 90 days after your first day.
- Management Options: After one full fiscal year, you are eligible to
receive an annual Management Option which equates to 5% of your compensation.
Each option vests in five years and must be exercised by the end of the
tenth year. You may trade shares to purchase your options.
- Career Options: Eligibility is based on job level, starting at check-in
as a Unit Manager. Career Options vest in 9.75 years and must be exercised
by the end of tenth year. You may trade shares to purchase your options.
| JOB LEVEL |
CAREER OPTION |
CUMULATIVE OPTION AWARDS |
| Note – all awarded options are based on board approval. |
| Unit Manager (check-in) |
$12,154 |
$12,154 |
| 2-unit District Manager |
$12,154 |
$24,308 |
| 3-unit District Manager |
$36,668 |
$60,976 |
| 7-unit Division Manager |
$60,255 |
$121,231 |
Health Insurance
Waffle House, Inc. offers several health benefits for individuals and family
members. You may enroll on your first day and coverage takes effect 28 days
after the first payroll deductions.
Comprehensive Medical Plan
Waffle House, Inc offers comprehensive Blue Cross Blue Shield coverage with a
Preferred Provider Organization (PPO) covering the entire United States. The plan
covers 80% after deductible ($750 for individual and $1,875 for family). For
more details on Blue Cross Blue Shield and their providers log onto
www.bcbsga.com.
Basic Care Plan
Waffle House, Inc. also offers a Basic Care Plan for those who want lower
premiums and limited coverage.
Dental
Benefits are covered for any dentist you choose, but you will pay less if
you choose a dentist in the Blue Cross Blue Shield dental network.
Life Insurance
Waffle House, Inc. provides $10,000 of Term Life and $20,000 Accidental Death
and Dismemberment benefits when you participate in the medical plan. You may
elect to increase those amounts up to $50,000 and $100,000 respectively at
an additional cost under the Comprehensive Care Plan.
Vision Discount
A vision discount is offered through Lenscrafters and BlueChoice Vision
optometrists and features 30% off the regular retail for eyeglasses and low
fixed prices for contact lenses and eye exams.
Advancement
Waffle House, Inc. will continue to have long term steady growth, so there
are plenty of restaurant operations opportunities at all levels of management.
All promotions come from within the company. This "home-grown philosophy" has
served us well for more than 51 years. The Waffle House, Inc. selection system
affords everyone with the same opportunity to apply for and to be considered
for promotion. This "self-selection" process has also served us well, along
with some required continuing education modules, and development plans make up
the system for selecting the best candidate for the next level.
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