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COMPENSATION
The
McGraw-Hill Companies demonstrates that it values individual
contribution to our success by offering a multifaceted
Compensation Program. Competitive base salaries are
only the beginning. In addition to performance-based
pay, we offer eligible employees additional upside financial
opportunity to improve business performance through
participation in annual incentive plans. These plans
are targeted for individuals in specific positions or
are broad-based plans covering larger groups of employees.
The
corporation also provides managers with the ability
to recognize and reward outstanding achievement on a
more immediate basis through our Discretionary Rewards
and Recognition Program. Through this program, managers
can provide both cash and non-cash rewards to recognize
the outstanding achievements and exceptional efforts
of our employees.
Our
Pool of Shares Program provides managers with the opportunity
to make stock option grants to high performing employees
– at all levels – throughout the corporation
in order to recognize and reward individual performance
and contributions.
We
review our compensation programs regularly to ensure
alignment with our business strategies and competitiveness
with prevailing market conditions. Results drive our
approach to compensation, and excellent performance
is valued and rewarded by The McGraw-Hill Companies.
BENEFITS
The
McGraw-Hill Companies understands that everything that
goes on in your life has an impact on your ability to
use your talent in the workplace. We realize that benefit
requirements will vary from person to person and from
family to family. Our benefit plans cover a wide spectrum
of offerings, briefly described below.
As an overview, this information highlights our various
benefit plans and does not include every regulation
or take into account every conceivable circumstance.
The benefit plans and contracts govern the actual benefits
available. Certain employees in selected subsidiaries
of The McGraw-Hill Companies are not covered by this
program but may be covered by other, similar plans.
A domestic partner or an adult relative is eligible
for some of our benefit plans subject to meeting eligibility
requirements.
Holidays
Nine paid holidays are observed annually by most of
The McGraw-Hill Companies business units in addition
to three floating holidays (depending upon your date
of hire.)
Vacation
Having time away from the job is part of our commitment
to work/life balance.
The amount of vacation time available to you each year
depends on your length of service with the company.
Medical
Coverage (Company/Employee Cost Sharing)
The medical plan options vary depending on where you
live. They include Health Maintenance Organizations
(HMOs) and Point of Service (POS) Plans. In some areas,
a traditional indemnity plan is also offered.
Health
Maintenance Organizations (HMO) offer you broad
coverage for hospital, medical and surgical expenses
through a local network of healthcare providers. The
network includes physicians, hospitals, pharmacies and
other healthcare providers.
Point
of Service (POS) Plans are another medical choice.
A POS Plan provides a network of physicians, hospitals,
pharmacies and other healthcare providers. When you
need medical care, you choose whether to use the network
or go to a medical provider outside the network. When
you use network providers, benefits are higher and your
out-of-pocket expenses are less than when you obtain
care outside of the network.
Traditional
Indemnity Plan is only offered in areas where a
POS Plan is not available or only an HMO is offered.
In that case, you may elect The McGraw-Hill Companies
Medical Plan. This medical plan is a fee-for-service
plan with an annual deductible applying to most medical
services. It provides coverage for a broad range of
hospital, medical and surgical expenses.
Dental
(Company/Employee Cost Sharing)
You have the choice of two dental options to help you
with your dental care needs.
The DMO Dental Plan is a managed care dental
program with a nationwide network of dentists who provide
care at pre-negotiated fees so you don’t have to
worry about exceeding reasonable and customary costs
for care.
The McGraw-Hill Companies Dental Plan is a traditional
indemnity plan that allows you to select any dentist
you wish and covers a portion of your expenses after
satisfying a deductible.
Vision
Care (Employee-paid)
The Vision Plan gives you access to a nationwide network
of vision care professionals and covers the cost of
annual exams, basic lenses and select frames.
Flexible
Spending Account (FSA)
You can set funds aside on a before-tax basis to pay
for certain healthcare expenses and/or dependent care
expenses.
Life/Disability
Insurance
Basic
Life Insurance: (Company-paid)
Provides coverage based on your compensation. Coverage
is effective on your date of employment.
Supplementary
Life Insurance: (Employee-paid)
Provides an option to purchase additional life insurance.
Life
Insurance for your Spouse/Children:
Provides an option to purchase life insurance coverage
for your spouse and/or children.
Accidental
Death and Dismemberment Insurance:
Provides an option to purchase coverage for you, your
spouse and/or children.
Travel
Accident Insurance: (Company-paid)
Covers you while traveling on company business anywhere
in the world. Your benefit is equal to five times your
annual earnings up to $1 million. Coverage is effective
on your date of employment. The Company pays the full
cost of this insurance.
Disability
Plans
Short-Term Disability Plan: (Company-paid)
Provides income if you are unable to work due to an
illness, injury or pregnancy. Coverage is effective
on your date of employment. Certain waiting periods
may apply.
Basic
Long-Term Disability: (Company-paid)
Provides you with a percentage of your pay if you are
totally disabled. Coverage is effective on your date
of employment.
Supplementary
Long-Term Disability: (Employee-paid)
Provides an option to purchase additional disability
income coverage.
Retirement
Plans
Pension
Plan: (Company-paid)
Provides a monthly lifetime retirement benefit based
on your earnings during your career with The McGraw-Hill
Companies. You are automatically enrolled after one
year of service provided you are age 21 or over.
Profit
Sharing Plan: (Company-paid)
Provides retirement income in the form of an investment
account to which the Company contributes each year based
on profits. You are automatically enrolled after one
year of service provided you are age 21 or over.
401(k)
Plan: (Employee Contributions/Company Match)
Allows you to build retirement income in the form of
an investment account if you participate and make contributions
to the plan. Your tax-deferred, after-tax and company-matching
contributions can be invested among 10 investment funds.
Each fund has a slightly different investment objective,
offering you the advantage of diversified investment
strategies. You are eligible after one year service
provided you are at least 21 years of age.
Tuition Refund (Company-paid)
The McGraw-Hill Companies encourages you to pursue educational
interests and goals by providing financial assistance
through its Tuition Refund Program. To be eligible,
the course(s) or degree program must be job-related
and are subject to the program’s requirements.
Our competitive reimbursement practices help you reach
your educational goals while gaining valuable on-the-job
experience.
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