38. Verizon

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140 West St

New York, New York 10007

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Undergrad Internships

No. of undergrad internships in:

2005: 200

2006: 233

2007: 179

2006 interns from the following classes:

0% Freshman

10% Sophomores

30% Juniors

60% Seniors

0% Graduates

2006 interns from the following majors:

40% Business

10% Computer Science

0% Economics

10% Engineering

25% Liberal Arts

0% Math

0% Science

0% Undeclared

15% 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: 6 weeks

Maximum: 16 weeks

Average hourly wage: $17.00

Are interns paid on lump sum basis? No

Average total intern compensation: $8,100

80% of eligible 2006 interns received full-time job offers

77% of interns with offers accepted

Applicants & New Hires

45 undergrad campuses where employer recruited 2006-07

41 undergrad campuses where employer made job offers

Applicants for entry-level jobs

2005: 622,800

2006: 705,600

2007: 165,120

Entry-level hires

2005: 30,927

2006: 35,072

2007: 8,239

Entry-level hires who were undergrad interns

2005: 1%

2006: 1%

2007: 1%

Most important characteristics for new hires:

1-Analytical Skills

3-Communication Skills

2-Leadership Skills

2006 new hires majored in:

40% Business

10% Computer Science

0% Economics

10% Engineering

25% Liberal Arts

0% Math

0% Science

0% Undeclared

15*% Other

...and are:

25% African American

13% Hispanic American

10% Asian American

1% Other

49% Total minorities

45% Female

NOTE: College majors in other category include communications, psychology, sociology, human services and sales.

Salary & Benefits

Entry-level hires since Jan. 1

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

10% earn less than $35,000

75% earn $35,000 to $39,999

5% earn $40,000 to $44,999

5% earn $45,000 to $49,999

3% earn $50,000 to $54,999

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

0% earn $60,000 to $64,999

0% earn $65,000 to $69,999

0% earn $70,000 and above

Bonuses, Overtime & Perks

0% received signing bonuses

Average signing bonus: $NA

100% received performance bonus first year on job

Average performance bonus, 2006: $4,500

25% of 2006 entry-level hires eligible for OT

75% 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: $8,000

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? No

If no, total paid vacation days:

During first year: 10

After 1 year: 10

After 3 years: 10

After 5 years: 15

After 10 years: 15

Total paid holidays: 7

Time off for religious observances: No

If yes, max PTO days:

During first year: NA

After 1 year: NA

After 3 years: NA

After 5 years: NA

After 10 years: NA

Total days off for religious observances: NA

Is flex time available? Yes

Sick, personal days, first year: 7

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: 6%

Min. employee set-aside as a percentage of salary to receive max. co. match: 6%

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

Are entry-level hires eligible for co-funded pension? No

Months to full vesting in co-funded pension: NA

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: $100,000

Does company pay relocation expenses? Yes

Max. annual relocation expenses? $100,000

Employee Discounts

Car rentals

Gym memberships

Cell phone/service

Insurance

Cultural events

Publications

NOTE: In addition to the 6% company match provided in the 401(k) plan, employees may receive an additional company contribution of as much as 3% of base salary based on company performance.

Maternity leave is provided under Verizon's short-term disability plan and is based on the health of the birth mother. Verizon disability provides 6 weeks unless there are medical complications.

The range for relocation reimbursements is $40,000 to $100,000; includes housing and moving-related expenses. (Although entry-level employees are technically eligible for this amount, their dollar amount is usually lower ($8,000 to $15,000) based on their salary band).

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...

30% in open work stations

60% in cubicles

9% in shared offices

1% 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

Casual Fridays

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? 5

Orientation includes:

Computer Training

Guest Speakers

Diversity Exercises

Team Building Activities

Tour of Facilities

$4,200 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

Financial Talent Aquisition Program

Do candidates apply directly? No

If not, how is eligibility determined? Performance

When are new hires first eligible? Within First Year

Is program rotational? Yes

If yes, number of locations or business units: NA

Minimum rotations: 1

Maximum rotations: 3

Length of program, in weeks: 52

Minimum: NA weeks

Maximum: NA weeks

After program, employees offered permanent positions: 100%

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

If yes, amount of typical raise: NA

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

Leadership Excellence and Development program*

Do candidates apply directly? No

If not, how is eligibility determined?

Automatic

When are new hires first eligible? Within First Year

Is program rotational? No

If yes, number of locations or business units NA

Minimum rotations: NA

Maximum rotations: NA

Length of program, in weeks: 104

Minimum: NA weeks

Maximum: NA weeks

After program, employees offered permanent positions: 100%

After program, do employees offered permanent position receive raise? No

If yes, amount of typical raise: NA

Does company have formal mentorship program? Yes

20% of entry-level hires participate

84 days of additional training expected

NOTE: Opportunities for education and training include Rotational Development Program, LEAD Program, Emerging Leader Program, Leadership Skills Workshop, Financial Talent Acquisition Program, HR Development Program, and others.

Getting Ahead

Three-year retention rate: 60%

Five-year retention rate: 53%

How are raises determined?

Performance

When are entry-level hires eligible for first raise? At the end of the performance calendar year

How are promotions determined?

Performance

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

Evaluations

Frequency of evaluations

Annually

Important qualities

3-Analytical Skills

2-Customer Satisfaction

1-Productivity/Efficiency

Min. tenure in years required for job change: 1

Describe any rules that apply: Depends on the needs of the business.

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: 389*

No. of employees with VP or similar title with 20 years plus seniority: 182

Age of youngest employee with VP or similar title: 33

Seniority of youngest employee with VP or similar title in years: 7

NOTE: Development and Leadership Initiative helps identify and develop a diverse pool of high-potential candidates.

Verizon has a comprehensive succession planning process that uses standardized tools to help senior leaders identify high-potential employees who are ready for greater responsibility.