2008 Best Places to Launch A Career

78. SunTrust Banks

Financial Services


More Info

Company Insight: STI

HQ Address:
303 Peachtree Center Ave
Atlanta, Georgia 30303

Organization's Web site

Careers site

Managing Your Career

SunTrust Banks

Industry's best 5-year retention rate, plus one of the few company-sfunded pensions.

Getting Started

Undergrad Internships

Internships are filled for 2008

Undergrad internships (paid and unpaid)

2008: 62 (to date)

2007: 80

2006: 74

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

2007 interns came from the following classes...

0% Freshman

10% Sophomores

90% Juniors

0% Seniors

...and from the following majors:

95% Business

0% Computer Science

5% Economics

0% Engineering

0% Liberal Arts

0% Math

0% Science

0% Undeclared

0%

There is an official summer internship program

Average summer program: 12 weeks

Minimum: NA weeks

Maximum: NA weeks

Average hourly wage: $15.50

Average total intern compensation: $7,800

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

NA% of interns with offers accepted

Applicants & New Hires

Recruited on 28 undergrad campuses in 2007-08.
Made job offers on 22 undergrad campuses.

Applicants for entry-level jobs

    2008: NA (to date)

    2007: NA

    2006: NA

Entry-level hiring

Entry-level hiring is not complete for 2008.

New hires in:

2008: 108 (to date)

2007: 179

2006: 211

Entry-level hires who were undergrad interns

2008: 13% (to date)

2007: 9%

2006: 8%

Most important characteristics for new hires:

2 Analytical Skills

1 Communication Skills

3 Work Experience

2007 entry-level hires came from the following majors:

95% Business

0% Computer Science

5% Economics

0% Engineering

0% Liberal Arts

0% Math

0% Science

0% Undeclared

% Other

...and are:

NA% African American

NA% Hispanic American

NA% Asian American

NA% Other

21% Total minorities

31% Female

Salary & Benefits

Salary & Benefits

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

Average base salary:
$45,000 to $49,999

0% earn less than $35,000

36% earn $35,000 to $39,999

0% earn $40,000 to $44,999

36% earn $45,000 to $49,999

0% earn $50,000 to $54,999

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

28% 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

64% received signing bonuses

Average signing bonus: $4,500

28% received performance bonuses in their first year on job

Average performance bonus, 2007: NA

50% of 2007 entry-level hires eligible for overtime

50% 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: $2,500

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: 10*

Vacation days after one year: 10

Vacation days after three years: 10

Vacation days after five years: 15

Vacation days after 10 years: 15

Total paid holidays: 10

No paid time off for religious observances and/or floating holidays:

Floating holidays/religious observance days off per year: NA

Paid sick/personal days allowed in first year: 15

Flextime is not 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: 5%

Min. employee set-aside as a percentage of salary to receive max. co. match: 5%

Are entry-level hires eligible for company funded pension? Yes

Are entry-level hires eligible for profit-sharing program? No

Other Benefits

Does company match employee charitable gifts? Yes

Does company pay relocation expenses? No

Max. annual relocation expenses? NA

Employee Discounts on the following:

Car rentals

Gym memberships

Cell phone service

Insurance

Cultural events

Publications

Apparel, automotive, consumer electronics, event tickets, flowers & gifts, restaurants, travel

Notes: Vacation days shown are a minimum; number varies based on length of service, officer status, salary grade and exempt/non-exempt status.

Moving On Up

Work Environment

Average entry-level work week: 45 hours

Does average vary by business unit, department? Yes

Entry-level hire work locations...

0% in open work stations

80% in cubicles

0% in shared offices

20% 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

Training Programs

The organization has a formal orientation program for new hires

Program length: 1 days

Orientation includes the following:

Guest speakers

Diversity exercises

Benefits overview

Company history & overview

$10,000 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: Commercial Banking Associate Training Program

How do new employees enter the program? Hired into the program*

If not hired directly into program, when are most new hires first considered eligible?

The program is rotational.

A minimum rotation of 1 and a maximum of 3

24-week training program

After completion of program, what percentage of employees receive a raise? 100%

How much is the typical raise: 10-14.9%

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

100% of entry-level hires participate

18 days of additional training expected

Notes: External candidates can be hired directly into Commercial Banking Associate Training Program. Internal candidates can apply after 1 year in their current position.

Getting Ahead

Three-year retention rate: 60%

Five-year retention rate: 62%

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?

6 months to 1 year

Evaluations

Frequency of evaluations

Twice a year

Most important characteristics for entry-level hires:

2 Analytical Skills

3 Effort

1 Sales/Revenue Generation

Min. tenure in years required for job change: 1

Transfer rules: Transfers permitted earlier with 2 levels of management 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: 6,141

No. of employees with VP or similar title with 20 years plus seniority: 1,326

Age of youngest employee with VP or similar title: 25

Seniority of youngest employee with VP or similar title in years: 5

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