American Express Employee Benefits: Are Their Careers Worth It?

American Express Employee Benefits: Are Their Careers Worth It?

The American Express Company (also known as AMEX) is one of the biggest multinational financial service companies in the world. Currently headquartered in New York City, it was founded in 1850, initially serving as an express mail business. Today, the company employs approximately 59,000 professionals, while American Express employee benefits are some of the best in the industry.

The company is known for its credit card, traveler’s check businesses, and change cards. It acts as one of the 30 components of the Dow Jones Industrial Average, is currently ranked at number 72 on the Fortune 500, and generated $36.99 billion in revenue in 2018.

If you’re looking for an American Express job, continue reading to learn more about its benefits.

American Express Employee Benefits Team

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Monique Herena – Chief Human Resources Officer

Monique Herena joined American Express as the Chief HR Officer in April 2019. She is responsible for the benefits, training, and development of all American Express employees.

Before joining American Express, she was the SEVP of HR for BNY Mellon for 5 years. Prior to that, she held various leadership positions at PepsiCo for 13 years. She also has experience working at Honeywell, Inc., the Quaker Oats Company, and HR Consulting.

Herena earned her Bachelor of Arts in Business/Corporate Communications from the University of Wisconsin in 1993. She then completed her Master of Arts from Northern Illinois University in 1995, before completing her Master of Arts in Industrial and Organizational Psychology from Columbia University in 2017.

Find Monique Herena on:

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What are American Express’s Employee Benefits?

Employee BenefitsDescription
Health InsuranceSeveral insurance plans to choose from, with high deductibles, as much as $1,600 per person. The company also contributes up to $800 to your HSA.
Dental InsuranceTwo plans available. Most dental procedures are covered, but the maximum allowance is $1,800 per year.
Vision InsuranceOne free checkup and pair of glasses/contacts, per year, while other scenarios are semi-covered.
Mental Health CareMental health care is provided for employees in need. A hotline is also available for all employees 24/7.
Health Care On-SiteCompany nurses and doctors are available on-site. Some sites also have dental vans on stand-by.
401(k) PlanThe company matches your contributions by up to 6% after one year of employment. They also reimburse any fees incurred by the bank managing the 401(k).
Charitable Gift MatchingYou can receive 100% matching on charities.
Maternity & Paternity LeaveFor both parents, there is a maximum leave of 20 weeks (both part-time and full-time employees) and covers normal birth, surrogacy, and adoption. Mothers can receive 6-8 additional weeks depending on the medical conditions.
Casual Dressing & AtmosphereA casual atmosphere is preferred and fostered.
Work From HomeWork from home for up to 2 days per week.
Vacation & Paid Time Off6 personal days and 5 days PTO, initially. 23 days in total if you add sick days and holidays. You can also accrue overtime to increase your PTO.
Sick Days6 sick days per year, but can roll them over with 4 hours accrued per pay period.
Paid Holidays6 paid holidays per year, which can be deferred and added as PTO.
Diversity ProgramStrong diversity and inclusion program that extends overseas.
Professional DevelopmentThe company provides constant support, training, and guidance on the professional development of all employees.
Tuition AssistanceYou can get reimbursed for up to $7,500 per year for degree and non-degree based programs from accredited universities and colleges.

What Employee Benefits is American Express Known for?

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American Express’s employee benefits are very thorough and are available for both part-time and full-time employees. The company is best known for the following benefits:

  • Healthcare package.
  • 401(k) of up to 6%.
  • Up to 20 weeks of maternity and paternity leave.
  • PTO starts with 23 days including all types of leave.
  • Mental health care program.
  • Training and development.

American Express’s 401(k) plan officially starts after one year of experience. After that, the company matches up to 6% and reimburses any additional bank fees that are incurred.

The vacation and paid time off amounts to 23 days in total (including holidays and sick days) for fresh employees. You can accrue your overtime and convert it to PTO. Additionally, you can rollover your sick days with 4 hours accrued per pay period. The PTO increases with your years of service.

Coming to health insurance, you can choose between a normal and premium plan at either UHC or BCBS. The deductibles are high, reaching up to $1,600 per person. However, the company also pays up to $800 for your HSA.

The company has a scholarship program for the children of employees and their college education. If your child is eligible, you can receive anywhere between $2,000 to $4,000 per year for up to 3 years.

Compared to the employee benefits of other financial services companies, American Express proves to be a better option.

How does American Express Help with Student Loans?

At the moment, American Express has no student loan assistance programs. However, they do offer tuition assistance where you can get reimbursed for up to $7,500 per year.

The total student loan debt is expected to reach $3 trillion by the end of the coming decade.

With some people’s student loans exceeding a million dollars, an increase in stress and anxiety is observed in all employees who are in debt. This is why more and more corporations are looking into offering student loan programs.

That’s why businesses have started to partner with companies, like FutureFuel, that help employers set up student loan assistance programs. These include explaining how to pay off student loans, how to manage finances while doing so, and how to handle loan repayment.

How do American Express’s Employee Benefits Change for Different Jobs?

All American Express jobs tend to provide the same benefits to employees. Even part-time employees receive the same set of benefits.

The main difference is between employees who have been with American Express for more than a year, and those who have not yet reached one year with the company.

There are other minor changes, as well. The corporate headquarters tend to lack the casual atmosphere that can be found in all other American Express offices. On-site health care benefits may also be region-specific. Finally, the work from home benefit is limited to specific employees who don’t need to be present in the office at all times.

How American Express Improved its Benefits Packages Overtime?

American Express is among the few companies that constantly renew, modify, and improve their employee benefits.

Some of the recent changes/improvements are:

  • Increase in the total parental leave, and extension of the coverage to surrogacy with natural birth, and adoption.
  • Increase in the total vacation and paid time off.
  • Addition of tuition assistance programs and scholarship programs.
  • Global Diversity and inclusion program for both part-time and full-time employees.

Are American Express Careers Worth It?

American Express is a globally recognized entity that strives for diversity and takes good care of both, its employees and customers.

With an American Express job, you can expect to:

  • Work at a multinational giant with oversees diversity and inclusion programs.
  • Receive excessive room for growth in the industry.
  • Be provided with employee benefits based on contemporary needs.

An American Express career is considered one of the besAt in the financial services industry, primarily because it’s one of the oldest institutions in the US – one that is crucial to the country’s economy.

Discover American Express Jobs and Careers

If you’re considering building your career at American Express, keep an eye out for job openings on the following platforms:

American Express Careers

The company page lets you search for jobs through job titles and city, state, or country. You can also join the company’s professional or student talent community for updates on future openings.

American Express LinkedIn

American Express’s LinkedIn page has job postings from around the world, mostly related to marketing and HR. There are jobs posted for Marketing Assistant, Digital Marketing Coordinator, PPC Media Analyst, etc.  Internships are also posted on the page, and can be found by filtering the results according to experience level.

American Express Indeed

Indeed has fewer job postings but can be more search-friendly. You can find jobs like Market Research Analyst, Fraud Analyst, Manager for Business Development, Technology Associate, Senior Manager for Risk Management. You can check the Q&A section to get answers to questions like, “How thorough of a background check do they do?” You can also check the salaries received by different employees like Data Scientists, Senior Engineers, etc.

 

 

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