60. Ameriprise Financial

Undergrad Internships

Internship hiring for 2008 is not complete

Undergrad internships (paid and unpaid)

2008: 36 (to date)

2007: 58

2006: 25

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

2007 interns came from the following classes...

3% Freshman

10% Sophomores

85% Juniors

2% Seniors

...and from the following majors:

76% Business

0% Computer Science

3% Economics

0% Engineering

5% Liberal Arts

0% Math

0% Science

0% Undeclared

16% Law

There is an official summer internship program*

Average summer program: 11 weeks

Minimum: 10 weeks

Maximum: 12 weeks

Average hourly wage: $19.00

Average total intern compensation: $8,360

64% of eligible 2007 interns received full-time job offers

61% of interns with offers accepted

Notes: During the 12-week program, interns gain work experience, attend presentations given by senior executives, participate in networking activities and have access to several professional development courses offered through Ameriprise University.

Applicants & New Hires

Recruited on 730 undergrad campuses in 2007-08.
Made job offers on NA* undergrad campuses.

Applicants for entry-level jobs

2008: 34,291 (to date)

2007: 111,313

2006: 33,274

Entry-level hiring

Entry-level hiring is not complete for 2008.

New hires in:

2008: 894 (to date)

2007: 2,966

2006: 2,335

Entry-level hires who were undergrad interns

2008: NA% (to date)

2007: 1%

2006: 1%

Most important characteristics for new hires:

2 Analytical Skills

3 Communication Skills

1 Leadership Skills

Ameriprise Financial extended entry-level job offers for corporate positions to students from 15 campuses, but no comparable national figure for field positions is available.

2007 entry-level hires came from the following majors:

NA% Business

NA% Computer Science

NA% Economics

NA% Engineering

NA% Liberal Arts

NA% Math

NA% Science

NA% Undeclared

% Other

...and are:

4% African American

2% Hispanic American

3% Asian American

2% Other

11% Total minorities

71% Female

Salary & Benefits

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

Average base salary:
$40,000 to $44,999

76% earn less than $35,000

7% earn $35,000 to $39,999

2% earn $40,000 to $44,999

4% earn $45,000 to $49,999

2% earn $50,000 to $54,999

2% earn $55,000 to $59,999

1% earn $60,000 to $64,999

1% earn $65,000 to $69,999

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

4% earn $75,000 and above

Bonuses, Overtime & Perks

4% received signing bonuses

Average signing bonus: $2,926

100% received performance bonuses in their first year on job

Average performance bonus, 2007: $2,600

68% of 2007 entry-level hires eligible for overtime

32% 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: $5,000

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: 23

Maximum PTO days after one year: 23

Maximum PTO days after three years: 23

Maximum PTO days after five years: 28

Maximum PTO days after 10 years:33

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: 3%

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

Varies across business units

Employee Discounts on the following:

Car rentals

Gym memberships

Cell phone service

Insurance

Cultural events

Financial planning

Notes: New hires have access to a 401(k) with employer match after 60 days.

Employees are eligible for company-funded pension after one year of service.

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

Organization sponsors employee volunteer opportunities*

Does organization have fitness facilities on site? Some locations

Notes: Average number of hours worked is for full-time employees only.

Ameriprise Financial matchesing employee contributions to eligible nonprofit organizations. To encourage volunteerism, employees are given one day of paid time off per year to volunteer through a company sponsored project.

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

Customer Service, NASD Licensing for Series 6, 63, 7, 24; longer orientations exist for some departments and may include field work and services.

$105,000 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: Finance Leadership 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? 3

Minimum rotations: NA

Maximum rotations: NA

Length of program, in weeks: 72

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: Various departments offer mentoring programs, and the company participates in the MENTTIUM 100? Program which matches outside mentors with high-potential female employees. An company-wide prgram is being considered for 2009.

Web-based and instructor-led training opportunities are available through Ameriprise University. The amount of extra training expected of entry-level employees is based on job function and personal development plan.

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:

1 Customer Satisfaction

3 Leadership Ability

2 Productivity/Efficiency

Min. tenure in years required for job change: 1

Transfer rules: Applications permitted earlier with manager's approval.

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: 496

No. of employees with VP or similar title with 20 years plus seniority: 84

Age of youngest employee with VP or similar title: 27

Seniority of youngest employee with VP or similar title in years: 3

Notes: Separation from American Express in 2005 mandated an HR system conversion that affected retention records.