2008 Best Places to Launch A Career

56. Macy's

Retailing


More Info

Company Insight: M

HQ Address:
7 West Seventh Street
Cincinnati, Ohio 45202

Organization's Web site

Careers site

Career Office E-mail

Managing Your Career

Macy's

Only retailer with 401(k), company pension, and profit sharing.

Getting Started

Undergrad Internships

Internship hiring for 2008 is not complete

Undergrad internships (paid and unpaid)

2008: 258 (to date)

2007: 295

2006: 274

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

2007 interns came from the following classes...

0% Freshman

5% Sophomores

25% Juniors

70% Seniors

...and from the following majors:

55% Business

0% Computer Science

5% Economics

0% Engineering

20% Liberal Arts

0% Math

0% Science

0% Undeclared

20% Retail

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

Applicants & New Hires

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)

    2007: 12,200

    2006: 8,400

Entry-level hiring

Entry-level hiring is not complete for 2008.

New hires in:

2008: 579 (to date)

2007: 584

2006: 435

Entry-level hires who were undergrad interns

2008: 28% (to date)

2007: 27%

2006: 26%

Most important characteristics for new hires:

1 Analytical Skills

2 Communication Skills

3 Leadership Skills

2007 entry-level hires came from the following majors:

55% Business

0% Computer Science

5% Economics

0% Engineering

20% Liberal Arts

0% Math

0% Science

0% Undeclared

Retail/apparel merchandising% Other

...and are:

21% African American

8% Hispanic American

11% Asian American

1% Other

41% Total minorities

75% Female

Salary & Benefits

Salary & Benefits

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

Time Off

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

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: 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

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:

Gym memberships

Cell phone service

Insurance

Cultural events

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.

Moving On Up

Work Environment

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

Business Casual

Casual Friday

Business

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.

Training Programs

The organization has a formal orientation program for new hires

Program length: 5 days

Orientation includes the following:

Computer training

Guest speakers

Diversity exercises

Team building activities

Facilities tour

Benefits overview

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?

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

90% of entry-level hires participate

8 days of additional training expected

Getting Ahead

Three-year retention rate: 64%

Five-year retention rate: 47%

How are raises determined?

Performance

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

6 months to 1 year

How are promotions determined?

Performance

When are entry-level hires eligible for first promotion?

One-year anniversary

Evaluations

Frequency of evaluations

Annually

Most important characteristics for entry-level hires:

3 Analytical Skills

1 Leadership Ability

2 Teamwork

Min. tenure in years required for job change: 1

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: 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

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