104. McGladrey & Pullen

Undergrad Internships

Internships are filled for 2008

Undergrad internships (paid and unpaid)

2008: 428 (to date)

2007: 390

2006: 287

100% of internships are paid, 0% are unpaid.

2007 interns came from the following classes...

0% Freshman

3% Sophomores

27% Juniors

70% Seniors

...and from the following majors:

100% Business

0% Computer Science

0% Economics

0% Engineering

0% Liberal Arts

0% Math

0% Science

0% Undeclared

0%

There is an official summer internship program*

Average summer program: 9 weeks

Minimum: 8 weeks

Maximum: 10 weeks

Average hourly wage: $20.21

Average total intern compensation: $7,275

80% of eligible 2007 interns received full-time job offers

78% of interns with offers accepted

Notes: McGladrey has comprehensive summer and winter internship programs, due to the seasonality of work in the accounting industry. Overtime is heavier in the winter program, which is not included in the questions above. All McGladrey summer interns attend a 3-day national Capstone Conference during their internship, which focuses on helping them achieve their goals.

Applicants & New Hires

Recruited on 207 undergrad campuses in 2007-08.
Made job offers on 182 undergrad campuses.

Applicants for entry-level jobs

2008: 3,927 (to date)

2007: 3,725

2006: 2,551

Entry-level hiring

Entry-level hiring is not complete for 2008.

New hires in:

2008: 644 (to date)

2007: 700

2006: 431

Entry-level hires who were undergrad interns

2008: 29% (to date)

2007: 28%

2006: 16%

Most important characteristics for new hires:

2 Communication Skills

3 Leadership Skills

1 College Major

2007 entry-level hires came from the following majors:

100% Business

0% Computer Science

0% Economics

0% Engineering

0% Liberal Arts

0% Math

0% Science

0% Undeclared

% Other

...and are:

4% African American

5% Hispanic American

13% Asian American

0% Other

22% Total minorities

47% Female

Salary & Benefits

Entry-level hires since Jan. 1, 2008 (to date)

Average base salary:
$45,000 to $49,999*

0% earn less than $35,000

4% earn $35,000 to $39,999

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

40% earn $45,000 to $49,999

30% earn $50,000 to $54,999

11% earn $55,000 to $59,999

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

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

0% earn $70,000 to $74,999

0% earn $75,000 and above

Bonuses, Overtime & Perks

64% received signing bonuses

Average signing bonus: $1,958

20% received performance bonuses in their first year on job

Average performance bonus, 2007: $1,340

0% of 2007 entry-level hires eligible for overtime

100% of 2007 entry-level hires not eligible for overtime

Reimburse employees for education expenses? Yes

Do employees become eligible immediately? Yes

Maximum annual education reimbursement: $5,250*

Full grad school sponsorship for jr. level employees? Yes

Partial grad school sponsorship for jr. level employees? No

Time Off

The organization has a Paid Time Off (PTO) Bank

Maximum PTO days during first year: 15

Maximum PTO days after one year: 15

Maximum PTO days after three years: 20

Maximum PTO days after five years: 23

Maximum PTO days after 10 years:25

Flextime is an option for entry-level employees

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)? Entry-level hires are given access to a 401(K) savings plan*

Max. company match as a percentage of salary: 3%

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

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

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

Other Benefits

Does company match employee charitable gifts? Yes

Does company pay relocation expenses? No

Max. annual relocation expenses? NA

Employee Discounts on the following:

Gym memberships

Cell phone service

Insurance

Cultural events

Publications

Consumer products, computers, travel, theme park tickets.

Notes: Average annual salary for August through October, when most entry level employees are hired, is considerably higher than amount shown; in 2007, it was $50,000 to $55,000.

Educational reimbursement program applies only to Tax personnel seeking Masters in Taxation from two universities - DePaul & University of Minnesota.

PTO is true vacation days only, based on time and level. Entry-level associates also receive unlimited sick time.

In addition to 401(k), employees of RSM McGladrey (a wholly owned subsidiary of H&R Block) are eligible to participate in an H&R Block Stock Purchase plan after one year of service, receiving a 10% discount on all stock purchases.

Work Environment

Average entry-level work week: 43* hours

Does average vary by business unit, department? Yes

Entry-level hire work locations...

10% in open work stations

90% in cubicles

0% in shared offices

0% in private offices

0% have no company-supplied work space

Typical dress code

Business Casual*

Casual Friday

Business

Organization sponsors employee volunteer opportunities*

Does organization have fitness facilities on site? Facilities not available

Notes: Hours worked vary by location and business unit, based on client needs.

'Firm is business casual year-round, unless a client situation dictates otherwise. Many locations allow jeans on Friday's in exchange for a charitable donation.

Volunteer opportunities vary by location.

Training Programs

The organization has a formal orientation program for new hires

Program length: 3 days

Orientation includes the following:

Computer training

Guest speakers

Team building activities

Facilities tour

Benefits overview

Technical training for each business function, performance management training, social events.

$3,600 average spent on training, per new hire, in 2007

*

How do new employees enter the program?

If not hired directly into program, when are most new hires first considered eligible?

After completion of program, what percentage of employees receive a raise?

How much is the typical raise:

There is not a formal leadership program for entry-level hires that lasts a year or more.

How do new employees enter the program?

If not hired directly into the program, when are most new hires first considered eligible?

Is program rotational?

If so, how many locations or business units does the employee spend time at?

Minimum rotations:

Maximum rotations:

Length of program, in weeks:

Minimum: weeks

Maximum: weeks

After completion, what percentage of employees receive a raise?:

How much is the typical raise:

Does company have formal mentorship program? Yes

100% of entry-level hires participate

8 days of additional training expected

Notes: Leadership/management development programs exist within the firm, but not for entry-level employees, who receive a combination of formalized and on-the-job training to develop skills and competencies.

Getting Ahead

Three-year retention rate: 35%

Five-year retention rate: 20%

How are raises determined?

Performance

When are most entry-level hires eligible for their first raise?

Sept. 1

How are promotions determined?

Performance

When are entry-level hires eligible for first promotion?

One-year anniversary

Evaluations

Frequency of evaluations

Twice a year

Most important characteristics for entry-level hires:

2 Analytical Skills

1 Learning Ability

3 People relationships

Min. tenure in years required for job change: 0

Transfer rules: Business rationale and acceptable employee performance required.

Long-Term Prospects

Does position of vice president exist at this organization? No

If not, is there a comparable title? Manager*

No. of employees who hold VP or similar title: 2,585

No. of employees with VP or similar title with 20 years plus seniority: 194

Age of youngest employee with VP or similar title: 27

Seniority of youngest employee with VP or similar title in years: 3