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Company Insight: Private
175 W. Jackson Blvd.
Chicago, Illinois 60604
Internship hiring for 2008 is not complete
Undergrad internships (paid and unpaid)
2008: 167 (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
0% Liberal Arts
There is an official summer internship program*
Average summer program: 9 weeks
Minimum: 8 weeks
Maximum: 10 weeks
Average hourly wage: $22.00
Average total intern compensation: $9,600
87% of eligible 2007 interns received full-time job offers
79% of interns with offers accepted
Notes: Number of seniors includes students in their 4th & 5th years of study.
Through the Footsteps program, students are invited to spend 3 days shadowing an associate, meeting with partners, and getting a sense for the firm. Through the firm's internship program interns work directly with associates through partners on client engagements and are invited to join in the firm?s social & networking activities.
Recruited on 85 undergrad campuses in 2007-08.
Made job offers on 85 undergrad campuses.
Applicants for entry-level jobs
2008: 7,532 (to date)
Entry-level hiring is not complete for 2008.
New hires in:
2008: 258 (to date)
Entry-level hires who were undergrad interns
2008: 40% (to date)
Most important characteristics for new hires:
1 Leadership Skills
2 Work Experience
3 College GPA
2007 entry-level hires came from the following majors:
0% Computer Science
0% Liberal Arts
6*% African American
5% Hispanic American
18% Asian American
29% Total minorities
Notes: Grant Thornton sponsors and recruits at the National Association of Black Accountants, the American Latino Professionals in Finance and Accounting, and the National Asian American Society of Accountants.
Entry-level hires since Jan. 1, 2008 (to date)
Average base salary:
$50,000 to $54,999
0% earn less than $35,000
0% earn $35,000 to $39,999
0% earn $40,000 to $44,999
32% earn $45,000 to $49,999
41% earn $50,000 to $54,999
24% earn $55,000 to $59,999
1% earn $60,000 to $64,999
1% earn $65,000 to $69,999
0% earn $70,000 to $74,999
1% earn $75,000 and above
Bonuses, Overtime & Perks
61% received signing bonuses
Average signing bonus: $2,750
71% received performance bonuses in their first year on job
Average performance bonus, 2007: $1,850
0% of 2007 entry-level hires eligible for overtime
100% 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? Yes
The organization has a Paid Time Off (PTO) Bank
Maximum PTO days during first year: 15
Maximum PTO days after one year: NA
Maximum PTO days after three years: NA
Maximum PTO days after five years: NA
Maximum PTO days after 10 years: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? 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: 1.5%
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
Does company match employee charitable gifts? Yes
Does company pay relocation expenses? Yes
Max. annual relocation expenses? $3,000
Employee Discounts on the following:
Cell phone service
Notes: Employees are eligible to have 80% of their tuition expenses paid-without an annual limit-to pursue a graduate degree. In 2007, the firm began paying for the Becker CPA Review Course, a benefit valued at about $2,000 per hire.
Depending upon job level, employees receive up to 27 days of PTO per year (entry level employees generally receive 15 days) and at least 7 paid holidays.
In addition to the 401(k) match, the firm contributes an amount equal to 4% of eligible employees? gross wages to a cash balance defined-benefit pension plan.
Average entry-level work week: 42 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
Organization sponsors employee volunteer opportunities*
Does organization have fitness facilities on site? Some locations
Notes: As part of the firm?s Healthy Lifestyles initiative, Grant Thornton will pay the hotel, travel and entrance fees for more than 230 partners and employees to run the 2008 Rock ?n? Roll Marathon. Additionally, the firm participates in more than 100 charitable activities. For the past four years, Grant Thornton has earned a spot on the Companies That Care Honor Roll for its community involvement.
The organization has a formal orientation program for new hires
Program length: 2 days
Orientation includes the following:
$5,000 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: LEADS*
How do new employees enter the program? Automatic
If not hired directly into the program, when are most new hires first considered eligible?
Is program rotational? No
If so, how many locations or business units does the employee spend time at? NA
Minimum rotations: NA
Maximum rotations: NA
Length of program, in weeks: NA*
Minimum: NA weeks
Maximum: NA weeks
After completion, what percentage of employees receive a raise?: NA
How much is the typical raise: NA
Does company have formal mentorship program? Yes
100% of entry-level hires participate
5* days of additional training expected
Notes: A learning & leadership development initiative within GT University, LEADS guides employees from campus to partner through customized & comprehensive training at each phase of their career.
The program length of LEADS varies.
GTU provides online training and development programs for all employees, who are able to access live and archived web casts and Web-based, self-study courses.
Three-year retention rate: 46%
Five-year retention rate: 36%
How are raises determined?
Both performance and seniority
When are most entry-level hires eligible for their first raise?
6 months to 1 year
How are promotions determined?
Both performance and seniority*
When are entry-level hires eligible for first promotion?
More than 1 year
Frequency of evaluations
Most important characteristics for entry-level hires:
3 Customer Satisfaction
1 Learning Ability
Min. tenure in years required for job change: 1
Does position of vice president exist at this organization? No
If not, is there a comparable title? Partner/Principal
No. of employees who hold VP or similar title: 534
No. of employees with VP or similar title with 20 years plus seniority: 113
Age of youngest employee with VP or similar title: 31
Seniority of youngest employee with VP or similar title in years: 6
Notes: Promotions are determined by the firm?s overall performance and individual contributions. In fiscal year 2007, 906 people throughout the firm were promoted, 16% of our total population.