Over the past few weeks I have been researching exactly what my benefits look like once these boys arrive. I work for a Fortune 500 company, so I was expecting some pretty decent benefits. I was sadly mistaken. Not only does my company not have so called "maternity benefits" they also have quite a crap system for non salary employees. Basically, I will be on short term disability from weeks 2-8 of my leave (with a c-section). And then can go on 4 more weeks on FMLA (baby bonding they called it) completely unpaid leave. Also, since I work on a mostly commission basis, the paid portion of my leave (although it is 100% for 6 weeks), is based on my base pay, which is not really an income. So, the system was not designed for non-salary employees. After some research by lawyer husband, we discovered that this level of benefit is the absolute minimum required by the state of Alabama. Interesting...
So, what companies are maternity friendly? Lets look at comparable financial firms*:
Best of them:
-Bank of America (not sure if this includes Merrill Lynch)- 12 weeks 100% pay (60% of employees are women, fun fact)
-American Express- 10 weeks 100% pay (my company spun off of Amex 6 years ago...I guess their benefits weren't duplicated in the spinoff)
-Citigroup- 13 weeks 100% pay
-FINRA (financial regulatory body)- 13 weeks 100% pay
-Goldman Sachs- 16 weeks 100% pay
Now there are several that have little to no benefits, such as:
-New York Life
-Mass Mutual Financial Group
-Capital One Financial
-Marriott (zero-not a financial firm, but quite a well known brand to have such crap benefits
*All information is from the 2011 benefits survey of Sociey for Human Resources Management members
Hmm, looks like some companys are on the ball and others are not. From this list, it is overwhelmingly the financial industry that is lagging in benefits. Maybe they arnt use to catering to a female workforce. Regardless, it is wrong and I plan on trying to do my part to help. Currently working on a memo to our CEO. Will keep ya updated. If you see me in the hospital with my laptop, you know why.
State of alabame also has zero maternity leave, just your sick days you earn at one per month of work.... So a regular employee ears 9 sick days a year plus 5 personal days, 3 of which you have to pay to use! Boo... Thank goodness for our summer baby! I'll be praying for a great outcome for this!
ReplyDeleteGood for you! Could you write a letter to my boss demanding 100% for 12 weeks too?? Oh, wait, I am my boss, and I, not being salaried, and on commission only, cannot allow myself to take 12 weeks off! Ugh. Its hard being a momma!
ReplyDeleteI will not comment on calling giving birth a "short term disability"
ReplyDeleteI will not comment on calling giving birth a "short term disability"
I will not comment on calling giving birth a "short term disability"