Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.
+1 212 318 2000
Europe, Middle East, & Africa
+44 20 7330 7500
+65 6212 1000
Company Insight: M
7 West Seventh Street
Cincinnati, Ohio 45202
Internship hiring for 2008 is not complete
Undergrad internships (paid and unpaid)
2008: 258 (to date)
100% of internships are paid, 0% are unpaid.
2007 interns came from the following classes...
...and from the following majors:
0% Computer Science
20% Liberal Arts
There is an official summer internship program
Average summer program: 10 weeks
Minimum: 8 weeks
Maximum: 10 weeks
Average hourly wage: $14.00
Average total intern compensation: $5,600
85% of eligible 2007 interns received full-time job offers
74% of interns with offers accepted
Recruited on 92 undergrad campuses in 2007-08.
Made job offers on 87 undergrad campuses.
Applicants for entry-level jobs
2008: 17,200 (to date)
Entry-level hiring is not complete for 2008.
New hires in:
2008: 579 (to date)
Entry-level hires who were undergrad interns
2008: 28% (to date)
Most important characteristics for new hires:
1 Analytical Skills
2 Communication Skills
3 Leadership Skills
2007 entry-level hires came from the following majors:
0% Computer Science
20% Liberal Arts
Retail/apparel merchandising% Other
21% African American
8% Hispanic American
11% Asian American
41% Total minorities
Entry-level hires since Jan. 1, 2008 (to date)
Average base salary:
$40,000 to $44,999
0% earn less than $35,000
23% earn $35,000 to $39,999
77% earn $40,000 to $44,999
0% earn $45,000 to $49,999
0% 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
0% received signing bonuses
Average signing bonus: NA
0% received performance bonuses in their first year on job
Average performance bonus, 2007: NA
56% of 2007 entry-level hires eligible for overtime
44% 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: NA*
Full grad school sponsorship for jr. level employees? No
Partial grad school sponsorship for jr. level employees? No
Total paid vacation days
Vacation days during first year: 5
Vacation days after one year: 10
Vacation days after three years: 15
Vacation days after five years: 20
Vacation days after 10 years: 25
Total paid holidays: 6
Paid time off for religious observances and/or floating holidays:
Floating holidays/religious observance days off per year: unlimited
Paid sick/personal days allowed in first year: NA
Flextime is an option for entry-level employees
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: 1.7%
Min. employee set-aside as a percentage of salary to receive max. co. match: 5%
401(k) Details: Maximum company match does not include supplemental contribution based on company profits.
Are entry-level hires eligible for company funded pension? Yes
Are entry-level hires eligible for profit-sharing program? Yes
Does company match employee charitable gifts? Yes
Does company pay relocation expenses? Yes
Max. annual relocation expenses? NA
Employee Discounts on the following:
Cell phone service
Notes: Several of policies pertaining to educational reimbursement, maternity and paternity leave, sick days, etc. are determined by each of our operating divisions and amounts vary by division.
Health plan includes an Employee Assistance Program.
Average entry-level work week: 42 hours
Does average vary by business unit, department? Yes
Entry-level hire work locations...
35% in open work stations
65% in cubicles
0% in shared offices
0% in private offices
0% have no company-supplied work space
Typical dress code
Organization sponsors employee volunteer opportunities*
Does organization have fitness facilities on site? Facilities not available
Notes: In 2007, the Macy's Inc. Partners in Time employee volunteer program participated in more than 3,100 projects. In total, employees contributed nearly 143,000 hours of community service, valued at $2.7 million to nonprofit organizations.
The organization has a formal orientation program for new hires
Program length: 5 days
Orientation includes the following:
Team building activities
NA 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: Executive Development Program-Performance Through People
How do new employees enter the program? Automatic
If not hired directly into program, when are most new hires first considered eligible? Within First Year
10-week training program
After completion of program, what percentage of employees receive a raise? 100%
How much is the typical raise: Up to 5%
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?
Length of program, in weeks:
After completion, what percentage of employees receive a raise?:
How much is the typical raise:
Does company have formal mentorship program? Yes
90% of entry-level hires participate
8 days of additional training expected
Three-year retention rate: 64%
Five-year retention rate: 47%
How are raises determined?
When are most entry-level hires eligible for their first raise?
6 months to 1 year
How are promotions determined?
When are entry-level hires eligible for first promotion?
Frequency of evaluations
Most important characteristics for entry-level hires:
3 Analytical Skills
1 Leadership Ability
Min. tenure in years required for job change: 1
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: 584
No. of employees with VP or similar title with 20 years plus seniority: 176
Age of youngest employee with VP or similar title: 32
Seniority of youngest employee with VP or similar title in years: 10