18. General Electric

Undergrad Internships

Internship hiring for 2008 is not complete

Undergrad internships (paid and unpaid)

2008: 1,800* (to date)

2007: 2,300

2006: 2,200

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

2007 interns came from the following classes...

0% Freshman

12% Sophomores

31% Juniors

57% Seniors

...and from the following majors:

19% Business

5% Computer Science

1% Economics

66% Engineering

0% Liberal Arts

0% Math

1% Science

0% Undeclared

8%

There is an official summer internship program

Average summer program: 10 weeks

Minimum: 8 weeks

Maximum: 12 weeks

Average hourly wage: $19.50

Average total intern compensation: $10,250

60% of eligible 2007 interns received full-time job offers

83% of interns with offers accepted

Notes: GE offers full-time, paid internships to qualified candidates at each of our GE Businesses. GE also offers co-ops to four-year college students who want to work more than 12 weeks while maintaining their college schedules. All GE interns have access to mentoring, ongoing reviews, technical and business training, social events, discounts, and housing assistance.

Applicants & New Hires

Recruited on 173 undergrad campuses in 2007-08.
Made job offers on 123 undergrad campuses.

Applicants for entry-level jobs

2008: 44,500 (to date)

2007: 38,000

2006: 26,400

Entry-level hiring

Entry-level hiring is not complete for 2008.

New hires in:

2008: 1,100 (to date)

2007: 1,030

2006: 720

Entry-level hires who were undergrad interns

2008: 62% (to date)

2007: 63%

2006: 50%

Most important characteristics for new hires:

3 Analytical Skills

1 College Major*

2 College GPA

GE values high self-confidence, initiative, analytical ability, change orientation, teamwork, and interpersonal skills in its employees, but personal integrity is the most important trait.

2007 entry-level hires came from the following majors:

37% Business

4% Computer Science

2% Economics

48% Engineering

0% Liberal Arts

1% Math

1% Science

0% Undeclared

% Other

...and are:

NA% African American

NA% Hispanic American

NA% Asian American

NA% Other

NA% Total minorities

NA% Female

Salary & Benefits

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

Average base salary:
$55,000 to $59,999

1% earn less than $35,000

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

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

8% earn $45,000 to $49,999

18% earn $50,000 to $54,999

49% earn $55,000 to $59,999

11% earn $60,000 to $64,999

2% earn $65,000 to $69,999

1% earn $70,000 to $74,999

2% earn $75,000 and above

Bonuses, Overtime & Perks

75% received signing bonuses

Average signing bonus: $4,100

0% received performance bonuses in their first year on job

Average performance bonus, 2007: NA

20% of 2007 entry-level hires eligible for overtime

80% 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: $75,000

Full grad school sponsorship for jr. level employees? Yes

Partial grad school sponsorship for jr. level employees? No

Time Off

Total paid vacation days

Vacation days during first year: 10

Vacation days after one year: 10

Vacation days after three years: 10

Vacation days after five years: 15

Vacation days after 10 years: 20

Total paid holidays: 11

Paid time off for religious observances and/or floating holidays:

Floating holidays/religious observance days off per year: 5

Paid sick/personal days allowed in first year: 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? No

Does health plan provide vision coverage? Yes

Extra charge for vision coverage? No

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: 4%

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

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

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

Other Benefits

Does company match employee charitable gifts? Yes

Does company pay relocation expenses? Yes

Max. annual relocation expenses? NA

Employee Discounts on the following:

Car rentals

Gym memberships

Cell phone service

Insurance

Cultural events

Publications

Computers, appliances, and resources to help with education, childcare, adultcare, and aging.

Notes: "Entry level hires" defined as undergraduates hired for the associate consulting position.

Bonuses range from 0 - $15,000.

No maximum educational reimbursement amount.

BCG will cover 2 years of tuition for programs lasting 2 years or longer.

Work Environment

Average entry-level work week: 45 hours

Does average vary by business unit, department? Yes

Entry-level hire work locations...

10% in open work stations

30% in cubicles

39% in shared offices

20% in private offices

1% have no company-supplied work space

Typical dress code

Business Casual

NA

Does organization have fitness facilities on site? Most locations

Training Programs

The organization has a formal orientation program for new hires

Program length: 1 days

Orientation includes the following:

Computer training

Guest speakers

Diversity exercises

Team building activities

Facilities tour

Benefits overview

Integrity, safety

$30,000 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 a formal leadership program for entry-level hires that lasts a year or more.

Program Name: Edison Engineering Development Program*

How do new employees enter the program? Hired into the program

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

Is program rotational? Yes

If so, how many locations or business units does the employee spend time at? 2*

Minimum rotations: 2

Maximum rotations: 4

Length of program, in weeks: NA

Minimum: 104 weeks

Maximum: 156 weeks

After completion, what percentage of employees receive a raise?: 100%

How much is the typical raise: 10-14.9%

Does company have formal mentorship program? Yes

99% of entry-level hires participate

5 days of additional training expected

Notes: GE invests about $1 billion every year on training and education programs. Entry-level Leadership Programs offer recent college graduates development opportunities that combine real-world experience with formal classroom study through a series of rotating assignments. In addition to the Edison Engineering Development Program, GE's undergraduate programs include: Commercial Leadership, Communications Leadership Development, Financial Management, Information Management Leadership, and Operations Management Leadership. GE's Experienced Leadership Programs position high-potential talent in collaboration with some of the top innovators in their fields, offering intensive on-the-job development in the areas of Corporate Audit, Human Resources and Sales and Marketing

Participants in Edison Engineering Development Program can complete more than 1 assignment per location.

Getting Ahead

Three-year retention rate: NA%

Five-year retention rate: NA%

How are raises determined?

Performance

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

One-year anniversary

How are promotions determined?

Performance

When are entry-level hires eligible for first promotion?

More than 1 year

Evaluations

Frequency of evaluations

Quarterly

Most important characteristics for entry-level hires:

1 Analytical Skills

2 Leadership Ability

3 Teamwork

Min. tenure in years required for job change: 2

Long-Term Prospects

Does position of vice president exist at this organization? Yes

If not, is there a comparable title?

No. of employees who hold VP or similar title: 5,000

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

Age of youngest employee with VP or similar title: NA

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