37. The Travelers Companies

Contact Info

385 Washington Street

St. Paul, Minnesota 55102

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Undergrad Internships

No. of undergrad internships in:

2005: NA

2006: 99

2007: 139

2006 interns from the following classes:

6% Freshman

0% Sophomores

15% Juniors

75% Seniors

4% Graduates

2006 interns from the following majors:

46% Business

11% Computer Science

11% Economics

3% Engineering

9% Liberal Arts

16% Math

3% Science

0% Undeclared

4% Other

100% of internships paid

0% of internships unpaid

Is there an offical summer internship program? Yes

Average length of summer program: NA weeks

Minimum: 10 weeks

Maximum: 12 weeks

Average hourly wage: $18.39

Are interns paid on lump sum basis? No

Average total intern compensation: $8,193

50% of eligible 2006 interns received full-time job offers

60% of interns with offers accepted

Applicants & New Hires

149 undergrad campuses where employer recruited 2006-07

103 undergrad campuses where employer made job offers

Applicants for entry-level jobs

2005: NA

2006: NA

2007: NA

Entry-level hires

2005: NA

2006: NA

2007: 155

Entry-level hires who were undergrad interns

2005: NA%

2006: 42%

2007: 18%

Most important characteristics for new hires:

1-Analytical Skills

2-Leadership Skills

3-College GPA

2006 new hires majored in:

46% Business

11% Computer Science

11% Economics

2% Engineering

9% Liberal Arts

16% Math

3% Science

0% Undeclared

2% Other

...and are:

NA% African American

NA% Hispanic American

NA% Asian American

NA% Other

18% Total minorities

58% Female

Salary & Benefits

Entry-level hires since Jan. 1

Average base salary: $35,000 to $39,999

49% earn less than $35,000

9% earn $35,000 to $39,999

14% earn $40,000 to $44,999

15% earn $45,000 to $49,999

9% earn $50,000 to $54,999

2% earn $55,000 to $59,999

1% earn $60,000 to $64,999

1% earn $65,000 to $69,999

0% earn $70,000 and above

Bonuses, Overtime & Perks

0% received signing bonuses

Average signing bonus: $NA

0% received performance bonus first year on job

Average performance bonus, 2006: $NA

80% of 2006 entry-level hires eligible for OT

20% of 2006 entry-level hires not eligible for OT

Reimburse employees for ed expenses?: Yes

Do employees become eligible immediately?: Yes

Maximum annual education reimbursement: $NA

Full grad school sponsorship for jr. level employees? No

Partial grad school sponsorship for jr. level employees? Yes

Time Off

Is there a Paid Time Off (PTO) Bank? Yes

If no, total paid vacation days:

During first year: NA

After 1 year: NA

After 3 years: NA

After 5 years: NA

After 10 years: NA

Total paid holidays: NA

Time off for religious observances: NA

If yes, max PTO days:

During first year: 20

After 1 year: 20

After 3 years: 20

After 5 years: 23

After 10 years: 26

Total days off for religious observances: NA

Is flex time available? Yes

Sick, personal days, first year: NA

Health Benefits

Do entry-level hires have access to health plan? Yes

Employees pay part of the cost? Yes

Does health plan provide dental coverage? Yes

Extra charge for dental coverage? Yes

Does health plan provide vision coverage? Yes

Extra charge for vision coverage? Yes

Are same sex partners permitted as dependents? Yes

Pension and Profit-sharing

Do entry-level hires have access to 401(k)? Yes

36 months to full vesting in 401(k)

Max. company match as a percentage of salary: 5%

Min. employee set-aside as a percentage of salary to receive max. co. match: 5%

If 401(k) match not calculated as percentage of salary, explain:

Are entry-level hires eligible for co-funded pension? Yes

Months to full vesting in co-funded pension: 60

Are entry-level hires eligible for profit-sharing program? No

Months to full vesting in profit-sharing program: NA

Maternity/Paternity Leave

Maximum Maternity Leave

NA* days during first year

NA* days after 1 year

NA* days after 3 years

NA* days after 5 years

Maximum Paternity Leave

0 days during first year

0 days after 1 year

0 days after 3 years

0 days after 5 years

Other Benefits

Does company match employee charitable gifts? Yes

Max. annual company match for employee charitable gifts: $500

Does company pay relocation expenses? Yes

Max. annual relocation expenses? $NA

Employee Discounts

Car rentals

Cell phone/service

Insurance

Cultural events

NOTE: Maternity is covered under short-term disability; For a typical pregnancy, an employee would be approved for 6-8 weeks based on type of delivery; disability pays first 8 weeks at 100% of salary.

Work Environment

40 hours worked weekly by entry-level hires on average

Does average vary by business unit, department? Yes

Entry-level hire work locations...

5% in open work stations

95% in cubicles

0% in shared offices

0% in private offices

0% have no company-supplied work space

Does organization monitor e-mail?: Yes

Does organization monitor Web usage? Yes

Typical dress code

Business Casual

Formal/Business

Does organization sponsor employee volunteer opportunities? Yes

Does organization offer employee daycare? Some locations

Does organization have fitness facilities on site? Some locations

Training Programs

Does your organization have a formal orientation program? Yes

If yes, how many days is it? NA

Orientation includes:

Computer Training

Tour of Facilities

$1,500 average spent on training, per new hire, in 2006

Is there a formal leadership program for entry-level hires of a year or less? Yes

Leading By Personal Example

Do candidates apply directly? No

If not, how is eligibility determined? Sponsor*

When are new hires first eligible? Immediately

Is program rotational? No

If yes, number of locations or business units: NA

Minimum rotations: NA

Maximum rotations: NA

Length of program, in weeks: 0.5*

Minimum: NA weeks

Maximum: NA weeks

After program, employees offered permanent positions: NA

After program, do employees offered permanent position receive raise? NA

If yes, amount of typical raise: NA

Is there a formal leadership program for entry-level hires of a year or more? Yes

Actuarial Leadership Development Program

Do candidates apply directly? Yes

If not, how is eligibility determined?

NA

When are new hires first eligible? NA

Is program rotational? Yes

If yes, number of locations or business units 3*

Minimum rotations: NA

Maximum rotations: NA

Length of program, in weeks: 156

Minimum: NA weeks

Maximum: NA weeks

After program, employees offered permanent positions: 100%

After program, do employees offered permanent position receive raise? NA

If yes, amount of typical raise: NA

Does company have formal mentorship program? Yes

5% of entry-level hires participate

21 days of additional training expected

NOTE: Employees are nominated by manager for seven core programs in Travelers Leadership Pipeline, including Leading By Personal Example. Others programs in pipeline include Manager Essentials and Leading People.

Leading By Personal Example is 3 day-long session.

Actuarial LDP participants have three rotations on the Hartford campus. They may have fewer, but longer, rotations in St. Paul because the businesses are smaller and they can learn multiple functions within a given business.

Getting Ahead

Three-year retention rate: 45%

Five-year retention rate: 30%

How are raises determined?

Performance

Job level

When are entry-level hires eligible for first raise? One-year anniversary

How are promotions determined?

Performance

Career path of employee

When are entry-level hires eligible for first promotion? Depends on career path and individual development plan

Evaluations

Frequency of evaluations

Annually

Important qualities

1-Team Player

Other-Performance measures vary by job

Min. tenure in years required for job change: 1

Describe any rules that apply:

Long-Term Prospects

Does position of VP exist at this organization? Yes

If not, is there a comparable title? NA

No. of employees who hold VP or similar title: 562

No. of employees with VP or similar title with 20 years plus seniority: 227

Age of youngest employee with VP or similar title: 34

Seniority of youngest employee with VP or similar title in years: 12