2007 Best Places to Launch A Career

95. MetLife

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200 Park Avenue

New York, New York 10166

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It's like having a rich uncle: The company will match charitable contributions up to $5K and pick up the tab for grad school.

Undergrad Internships

No. of undergrad internships in:

2005: 416

2006: 420

2007: 336

2006 interns from the following classes:

3% Freshman

32% Sophomores

40% Juniors

25% Seniors

0% Graduates

2006 interns from the following majors:

NA% Business

NA% Computer Science

NA% Economics

4% Engineering

NA% Liberal Arts

NA% Math

NA% Science

NA% Undeclared

10% Other

100% of internships paid

0% of internships unpaid

Is there an offical summer internship program? Yes*

Average length of summer program: 10 weeks

Minimum: 8 weeks

Maximum: 12 weeks

Average hourly wage: $17.00

Are interns paid on lump sum basis? No

Average total intern compensation: $6,800

65% of eligible 2006 interns received full-time job offers

94% of interns with offers accepted

NOTE: For the summer internship program described in this section, Metlife partners with INROADS to host internships for diverse college students at its corporate and administrative offices.

Applicants & New Hires

225 undergrad campuses where employer recruited 2006-07

30 undergrad campuses where employer made job offers

Applicants for entry-level jobs

2005: 57,669

2006: 68,286

2007: 35,912

Entry-level hires

2005: 4,268

2006: 4,253

2007: 1,494

Entry-level hires who were undergrad interns

2005: 32*%

2006: 38*%

2007: 19*%

Most important characteristics for new hires:

2-Analytical Skills

1-Communication Skills

3-Leadership Skills

2006 new hires majored in:

NA% Business

NA% Computer Science

NA% Economics

NA% Engineering

NA% Liberal Arts

NA% Math

NA% Science

NA% Undeclared

NA% Other

...and are:

12% African American

6% Hispanic American

11% Asian American

1% Other

30% Total minorities

52% Female

NOTE: The percentage of entry-level hires who were former undergraduate interns reflects percentages for positions in MetLife's corporate and administrative offices. In 2006, 82% of entry-level hires in sales were former undergraduate interns; in 2007 (to date) the figure is 83%.

Salary & Benefits

Entry-level hires since Jan. 1

Average base salary: Less than $35,000*

54*% earn less than $35,000

16*% earn $35,000 to $39,999

19*% earn $40,000 to $44,999

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

1*% earn $50,000 to $54,999

5*% 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*

87*% received performance bonus first year on job

Average performance bonus, 2006: $1,190*

78% of 2006 entry-level hires eligible for OT

22% 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? Yes

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: 17

After 1 year: 17

After 3 years: 17

After 5 years: 21

After 10 years: 22

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? No

Extra charge for vision coverage? NA

Are same sex partners permitted as dependents? Yes

Pension and Profit-sharing

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

60 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: 3%

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: $5,000

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: Entry-level compensation data (salary, signing bonus, performance bonus) applies to non-sales positions. Sales professionals compensated on a commission basis.

Full-time associates eligible for 100% educational reimbursement. Part-time associates are eligible for a partial refund based on number of hours worked and must have completed 2 years of continuous service. If a graduate program is pursued, associates must have completed six months of continuous service. Up to 6 courses/year are available for reimbursement.

The discount program also provides benefits to help employees pay for eye exams, eyeglasses and contacts.

After the disability period, employees may take up to 26 weeks personal leave of absence for maternity leave, inclusive of FMLA and any state leave entitlement. MetLife does not offer paternity leave.

Maximum dollar amount for relocation reimbursement varies.

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...

10% in open work stations

75% in cubicles

10% in shared offices

0% in private offices

5% 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

NOTE: Average work week is for non-sales associates. Hours worked by sales professionals varies.

Employees are offered discounts on child-care services through certain arrangements with third-party providers.

Training Programs

Does your organization have a formal orientation program? Yes

If yes, how many days is it? 1

Orientation includes:

MetLife offers a highly flexible, interactive e-learning program.

$4,400* 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*

NA

Do candidates apply directly? NA

If not, how is eligibility determined? NA

When are new hires first eligible? NA

Is program rotational? NA

If yes, number of locations or business units: NA

Minimum rotations: NA

Maximum rotations: NA

Length of program, in weeks: NA

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*

NA

Do candidates apply directly? NA

If not, how is eligibility determined?

NA

When are new hires first eligible? NA

Is program rotational? NA

If yes, number of locations or business units NA

Minimum rotations: NA

Maximum rotations: NA

Length of program, in weeks: NA

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

Does company have formal mentorship program? Yes*

10*% of entry-level hires participate

12* days of additional training expected

NOTE: On the service and sales side, the average amount spent on training per new entry-level hire could reach $10,000 annually, and individuals could take 8-12 weeks of training.

MetLife has several training programs of less than a year, and a year or more.

Mentoring at MetLife varies by department, but uses committed partnerships, typically between a senior leader (mentor) and a more junior associate (the protégé) to develop cross-functional exposure, organizational awareness, business techniques, coaching skills and enhanced communication.

Figure shown for mentorship participation is an estimate.

Entry level employees are expected to or strongly encouraged to undergo additional formal and informal training in compliance, business skills, and desktop productivity skills.

Getting Ahead

Three-year retention rate: 53*%

Five-year retention rate: 65*%

How are raises determined?

Performance

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

How are promotions determined?

Performance

When are entry-level hires eligible for first promotion? Career goals, time in position, manager recommendations.

Evaluations

Frequency of evaluations

Twice a year

Important qualities

2-Customer Satisfaction

3-Productivity/Efficiency

1-Quality

Min. tenure in years required for job change: 1

Describe any rules that apply: The policy guideline is a minimum of 1 year; there are rare exceptions.

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: 691

No. of employees with VP or similar title with 20 years plus seniority: 220

Age of youngest employee with VP or similar title: 31

Seniority of youngest employee with VP or similar title in years: 0

NOTE: Retention information is for non-sales associates. The 3-year sales retention rate is 32%.

When new entry-level hires get their first raise varies. Pay increases for financial services representatives are based on sales/productivity.

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