Lack of Business Focus & Turnover Among Younger High Skill Employees
Pros
Large, relatively stable company. Usually decent work/life balance.
Cons
WFH is now discouraged. The official policy is WFH is left to manager discretion, however a large percentage of managers see this as a decree to mean no working from home ever. The pension no longer has any medical benefit if you start today. The pension vests after five years, but unless you're making six figures the vesting period closer to six years. They can force a buy-out if the expected benefit is under $5k a year. The 401k match is very low. The pension does not offset this unless you work here 20+ years. Bonuses are lower than they've ever been. Company profits are the highest they've been in years. Net company worth increased $10+ billion in 2017. However, their bonus calculation is almost purely based on how many policies they sell. The merit system (which determines your yearly salary increase) is horrible, and punishes high performing teams and individuals. I was promoted relatively quickly. No complaints. However, as such, I've always been on the lowest end of the pay scale for that job grade. Every year they've increased that minimum pay for the job grade. That's not too bad, right? Well, kind of. That cost of living increase is often higher than the salary increase from your yearly review. HR has decided that only the higher of the two apply. The merit salary increase, even for good rated employees, has been so low that it has been lower than the cost of living increase the last couple years. I make the same as an employee who gets bad ratings. Why try harder?
