9. Lockheed Martin

Contact Info

6801 Rockledge Drive

Bethesda, Maryland 20817

Web site

More info

Recent Discussions

Whether you're a current or former employee—or a prospective job candidate—our forum on Lockheed Martin provides a place for you to share your experience or learn from others

Undergrad Internships

No. of undergrad internships in:

2005: 2,071

2006: 1,857

2007: 1,225

2006 interns from the following classes:

4% Freshman

29% Sophomores

25% Juniors

35% Seniors

7% Graduates

2006 interns from the following majors:

17% Business

20% Computer Science

1% Economics

59% Engineering

4% Liberal Arts

2% Math

5% Science

0% Undeclared

0% Other

100% of internships paid

0% of internships unpaid

Is there an offical summer internship program? Yes

Average length of summer program: 11 weeks

Minimum: 3 weeks

Maximum: 19 weeks

Average hourly wage: $17.21*

Are interns paid on lump sum basis? No

Average total intern compensation: $7,572*

60% of eligible 2006 interns received full-time job offers

80% of interns with offers accepted

NOTE: Interns are also eligible for overtime pay.

The average total compensation for paid summer undergraduate interns is based on a 40-hour work week.

Applicants & New Hires

86 undergrad campuses where employer recruited 2006-07

86 undergrad campuses where employer made job offers

Applicants for entry-level jobs

2005: 39,040

2006: 49,325

2007: 16,293

Entry-level hires

2005: 3,983

2006: 4,573

2007: 3,745

Entry-level hires who were undergrad interns

2005: 14%

2006: 17%

2007: 19%

Most important characteristics for new hires:

1-College Major

3-Work Experience

2-College GPA

2006 new hires majored in:

17% Business

20% Computer Science

1% Economics

51% Engineering

4% Liberal Arts

2% Math

5% Science

0% Undeclared

0% Other

...and are:

NA% African American

NA% Hispanic American

NA% Asian American

NA% Other

30% Total minorities

30% Female

Salary & Benefits

Entry-level hires since Jan. 1

Average base salary: $50,000 to $54,999

0% earn less than $35,000

3% earn $35,000 to $39,999

9% earn $40,000 to $44,999

16% earn $45,000 to $49,999

28% earn $50,000 to $54,999

27% earn $55,000 to $59,999

10% earn $60,000 to $64,999

4% earn $65,000 to $69,999

3% earn $70,000 and above

Bonuses, Overtime & Perks

20% received signing bonuses

Average signing bonus: $2,235

7% received performance bonus first year on job

Average performance bonus, 2006: $382

100% of 2006 entry-level hires eligible for OT

0% 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: $7,500

Full grad school sponsorship for jr. level employees? Yes

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: 15

After 1 year: 15

After 3 years: 15

After 5 years: 15

After 10 years: 15

Total paid holidays: 9

Time off for religious observances: Yes*

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: 5

Is flex time available? Yes

Sick, personal days, first year: Unlimited

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

0 months to full vesting in 401(k)

Max. company match as a percentage of salary: 4%

Min. employee set-aside as a percentage of salary to receive max. co. match: 8%

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: 36

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

NA days during first year

NA days after 1 year

NA days after 3 years

NA days after 5 years

Other Benefits

Does company match employee charitable gifts? Yes

Max. annual company match for employee charitable gifts: $10,000

Does company pay relocation expenses? Yes*

Max. annual relocation expenses? $NA*

Employee Discounts

Car rentals

Gym memberships

Cell phone/service

Insurance

Cultural events

Publications

NOTE: An illness for more than 5 full/partial workdays due to an employee's own serious health condition/disability falls under our Short Term Disability Leave.

There are 14 paid holidays overall; 5 are floating holidays that can be used for religious observances

Maximum amount paid for relocation varies.

Work Environment

42 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

67% in cubicles

1% in shared offices

1% in private offices

1% have no company-supplied work space

Does organization monitor e-mail?: No

Does organization monitor Web usage? No

Typical dress code

Business Casual

Casual Fridays

Casual

Does organization sponsor employee volunteer opportunities? Yes

Does organization offer employee daycare? Some locations

Does organization have fitness facilities on site? Some locations

NOTE: Lockheed also offers fitness reimbursement to employees.

Training Programs

Does your organization have a formal orientation program? Yes

If yes, how many days is it? 1

Orientation includes:

Guest Speakers

Tour of Facilities

The formal 1 day program is part of a 12-month continual orientation program in which the employee and the manager meet and discuss such topics as career development.

$NA 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

New hire entry-level rotation orientation program (NEROP)

Do candidates apply directly? No

If not, how is eligibility determined? Automatic

When are new hires first eligible? Immediately

Is program rotational? Yes

If yes, number of locations or business units: NA

Minimum rotations: 1

Maximum rotations: 2

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? No

If yes, amount of typical raise: NA

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

Leadership Development Program (LDP)

Do candidates apply directly? Yes

If not, how is eligibility determined?

NA

When are new hires first eligible? Immediately

Is program rotational? Yes

If yes, number of locations or business units NA

Minimum rotations: 2

Maximum rotations: 4

Length of program, in weeks: 104

Minimum: NA weeks

Maximum: 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

100% of entry-level hires participate

NA* days of additional training expected

NOTE: The expectations as to the number of additional days of training varies with the job requirements.

Getting Ahead

Three-year retention rate: 69%

Five-year retention rate: 61%

How are raises determined?

Performance

When are entry-level hires eligible for first raise? Eligibility determined by start date - typically within 1st year

How are promotions determined?

Performance

When are entry-level hires eligible for first promotion? Less than two years

Evaluations

Frequency of evaluations

Twice a year

Important qualities

1-Analytical Skills

3-Creativity

2-Learning Ability

Min. tenure in years required for job change: 1

Describe any rules that apply: Eligibility requires successful job performance.

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: 475

No. of employees with VP or similar title with 20 years plus seniority: 244

Age of youngest employee with VP or similar title: 36

Seniority of youngest employee with VP or similar title in years: 15