55. Progressive

Undergrad Internships

Internships are filled for 2008

Undergrad internships (paid and unpaid)

2008: 53 (to date)

2007: 38

2006: 38*

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

2007 interns came from the following classes...

8% Freshman

15% Sophomores

62% Juniors

15% Seniors

...and from the following majors:

13% Business

18% Computer Science

13% Economics

11% Engineering

0% Liberal Arts

5% Math

0% Science

0% Undeclared

40% Management information systems, information science technology, information technology, computer information systems, information and telecommunication systems, actuarial sciences, English

There is an official summer internship program

Average summer program: 12 weeks

Minimum: 8 weeks

Maximum: 20 weeks

Average hourly wage: $16.20

Average total intern compensation: $10,989*

97% of eligible 2007 interns received full-time job offers

61% of interns with offers accepted

Notes: The number of interns in 2006 includes Master?s interns.

Interns also receive a housing allowance and tickets to baseball games, concerts and amusement parks.

Applicants & New Hires

Recruited on 157 undergrad campuses in 2007-08.
Made job offers on 77 undergrad campuses.

Applicants for entry-level jobs

2008: 24,716 (to date)

2007: 84,002

2006: 63,818

Entry-level hiring

Entry-level hiring is not complete for 2008.

New hires in:

2008: 420 (to date)

2007: 1,637

2006: 1,281

Entry-level hires who were undergrad interns

2008: 1% (to date)

2007: 1%

2006: 1%

Most important characteristics for new hires:

1 Communication Skills

3 College Major

2 Work Experience

2007 entry-level hires came from the following majors:

27% Business

3% Computer Science

4% Economics

0% Engineering

1% Liberal Arts

2% Math

12% Science

0% Undeclared

Management information systems, information science technology, information technology, comparative information systems, telecommunications systems, actuarial science, English.% Other

...and are:

9% African American

8% Hispanic American

6% Asian American

2% Other

25% Total minorities

35% Female

Salary & Benefits

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

Average base salary:
$35,000 to $39,999

1% earn less than $35,000

67% earn $35,000 to $39,999

28% earn $40,000 to $44,999

3% earn $45,000 to $49,999

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

0% earn $55,000 to $59,999

0% 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

2% received signing bonuses

Average signing bonus: $3,214

NA*% received performance bonuses in their first year on job

Average performance bonus, 2007: NA

89% of 2007 entry-level hires eligible for overtime

11% of 2007 entry-level hires not eligible for overtime

Reimburse employees for education expenses? Yes

Do employees become eligible immediately? No*

Maximum annual education reimbursement: NA

Full grad school sponsorship for jr. level employees? No

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: 17

Maximum PTO days after one year: 18

Maximum PTO days after three years: 19

Maximum PTO days after five years: 24

Maximum PTO days after 10 years:24

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: 5%

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

Are entry-level hires eligible for profit-sharing program? Yes

Other Benefits

Does company match employee charitable gifts? Yes

Does company pay relocation expenses? Yes

Max. annual relocation expenses? NA

Reimbursements are unlimited

Employee Discounts on the following:

Car rentals

Gym memberships

Cell phone service

Insurance

Cultural events

Publications

Computers, car rentals, jewelry, hotels

Notes: All entry-level employees are eligible for performance bonuses in their first year, but bonus awards are not tracked.

Progressive employees are eligible for tuition reimbursement after 12 months of employment.

Work Environment

Average entry-level work week: 48 hours

Does average vary by business unit, department? Yes

Entry-level hire work locations...

42% in open work stations

53*% in cubicles

0% in shared offices

5% in private offices

0% have no company-supplied work space

Typical dress code

Casual

Organization sponsors employee volunteer opportunities*

Does organization have fitness facilities on site? Some locations

Notes: Data on workspace use is for entire company; 0.4% of employees telecommute.

Volunteer activities include food drives, blood drives, and adoption of local schools.

Training Programs

The organization has a formal orientation program for new hires

Program length: 2 days

Orientation includes the following:

Computer training

Guest speakers

Diversity exercises

Team building activities

Facilities tour

Benefits overview

Review of emergency procedures, staff introductions, additional business specific training

NA average spent on training, per new hire, in 2007

NA

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: Accounting Rotational 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? 4

Minimum rotations: 3

Maximum rotations: 4

Length of program, in weeks: 104

Minimum: NA weeks

Maximum: NA 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? Yes

NA% of entry-level hires participate

NA* days of additional training expected

Notes: While there is no formal number of days of training required for new entry-level hires, Progressive spends an average of $35 million a year on training, and professional development is highly valued and encouraged at all levels.

Getting Ahead

Three-year retention rate: 52%

Five-year retention rate: 41%

How are raises determined?

Performance

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

Raises can be awarded at any time

How are promotions determined?

Performance

When are entry-level hires eligible for first promotion?

6 months to 1 year

Evaluations

Frequency of evaluations

Twice a year

Most important characteristics for entry-level hires:

1 Analytical Skills

2 Effort

3 Teamwork

Min. tenure in years required for job change: 0.5

Transfer rules: Strong performance, discussion with current supervisor required.

Long-Term Prospects

Does position of vice president exist at this organization? No

If not, is there a comparable title? Director

No. of employees who hold VP or similar title: 461

No. of employees with VP or similar title with 20 years plus seniority: 151

Age of youngest employee with VP or similar title: 28

Seniority of youngest employee with VP or similar title in years: 7