2008 Best Places to Launch A Career

48. Aetna

Insurance


More Info

Company Insight: AET

HQ Address:
151 Farmington Ave
Hartford, Connecticut 06156

Organization's Web site

Careers site

Career Office E-mail

Managing Your Career

Aetna

Entry-level hiring is up more than 40% so far this year.

Getting Started

Undergrad Internships

Internship hiring for 2008 is not complete

Undergrad internships (paid and unpaid)

2008: 122 (to date)

2007: 125

2006: 140

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

2007 interns came from the following classes...

9% Freshman

7% Sophomores

73% Juniors

11% Seniors

...and from the following majors:

37% Business

12% Computer Science

6% Economics

0% Engineering

24% Liberal Arts

13% Math

5% Science

0% Undeclared

3%

There is an official summer internship program

Average summer program: 12 weeks

Minimum: NA weeks

Maximum: NA weeks

Average hourly wage: $14.50

Average total intern compensation: $7,000*

22% of eligible 2007 interns received full-time job offers

90% of interns with offers accepted

Notes: Average total compensation is based on 12 week internship program

Applicants & New Hires

Recruited on 52 undergrad campuses in 2007-08.
Made job offers on NA undergrad campuses.

Applicants for entry-level jobs

    2008: NA (to date)

    2007: NA

    2006: NA

Entry-level hiring

Entry-level hiring is not complete for 2008.

New hires in:

2008: 113 (to date)

2007: 80

2006: 75

Entry-level hires who were undergrad interns

2008: NA% (to date)

2007: NA%

2006: NA%

Most important characteristics for new hires:

2 Communication Skills

1 Leadership Skills

3 College Major

2007 entry-level hires came from the following majors:

51% Business

7% Computer Science

4% Economics

0% Engineering

23% Liberal Arts

5% Math

7% Science

0% Undeclared

% Other

...and are:

17% African American

8% Hispanic American

5% Asian American

0% Other

30% Total minorities

70% Female

Salary & Benefits

Salary & Benefits

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

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

NA% earn less than $35,000

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

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

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

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

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

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

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

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

NA% earn $75,000 and above

Bonuses, Overtime & Perks

1% received signing bonuses

Average signing bonus: $4,000

90% received performance bonuses in their first year on job

Average performance bonus, 2007: $1,400

NA% of 2007 entry-level hires eligible for overtime

NA% 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: $3,000

Full grad school sponsorship for jr. level employees? No

Partial grad school sponsorship for jr. level employees? Yes

Time Off

The organization has a Paid Time Off (PTO) Bank

Maximum PTO days during first year: 18

Maximum PTO days after one year: 18

Maximum PTO days after three years: 23

Maximum PTO days after five years: 23

Maximum PTO days after 10 years:28

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? 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: 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? 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

Reimbursements based on postion and department's ability to pay; eligible actuarial and underwriting interns receive a $4,000 lump sum.

Employee Discounts on the following:

Gym memberships

Cell phone service

Insurance

Cultural events

Publications

Computers, airport parking

Notes: In addition to PTO, Aetna employees receive eight paid holidays, maternity leave through short-term disability, and participation in Aetna Wellness programs and tools.

Moving On Up

Work Environment

Average entry-level work week: 40 hours

Does average vary by business unit, department? Yes

Entry-level hire work locations...

0% in open work stations

100% 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? Some locations

Training Programs

The organization has a formal orientation program for new hires

Program length: 1 days

Orientation includes the following:

Diversity exercises

Benefits overview

Business code of conduct and integrity training; Aetna Values training; online set up of payroll, tax, arbitration, and other documents

$5,000 average spent on training, per new hire, in 2007

There is a formal leadership or management training program that lasts less than a year:

Program Name: Group School

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

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

12-week training program

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

How much is the typical raise: NA

There is a formal leadership program for entry-level hires that lasts a year or more.

Program Name: Actuarial 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? NA

Minimum rotations: 3

Maximum rotations: 6

Length of program, in weeks: NA

Minimum: 156 weeks

Maximum: 312 weeks

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

How much is the typical raise: Up to 5%

Does company have formal mentorship program? No*

NA% of entry-level hires participate

3 days of additional training expected

Notes: Other formal leadership and management development programs which last more than one year include the IT Leadership and Underwriting Intern Program.

Many departments offer informal mentorship programs.

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?

One-year anniversary

Evaluations

Frequency of evaluations

Twice a year

Most important characteristics for entry-level hires:

2 Analytical Skills

1 Leadership Ability

3 Quality

Min. tenure in years required for job change: 1

Transfer rules: Success in current position; must notify current manager

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: 26*

No. of employees with VP or similar title with 20 years plus seniority: 8

Age of youngest employee with VP or similar title: NA

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

Notes: The 26 individuals are within the top 3 tiers of the company only.

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