BB&T Employee Benefits Review: Are Their Careers Worth It?

BB&T Employee Benefits Review: Are Their Careers Worth It?

BB&T is a bank holding corporation with a country-wide presence. The company was founded in 1872 and is one of the best places to work. BB&T employee benefits are second to none and offer excellent growth potential.

The organization is headquartered in Winston-Salem, North Carolina. It has 2,049 branches in 15 U.S. states and 37,000 employees. BB&T is one of the largest U.S banks by assets. It also operates one of the world’s largest insurance brokers, BB&T Insurance Services – a subsidiary of BB&T.

BB&T specializes in consumer and commercial banking, insurance, investment banking, and mortgage.

BB&T Employee Benefits Team

Diana Pietrzak – Chief Talent Officer, BB&T Insurance Holdings

Diana Pietrzak – Chief Talent Officer, BB&T Insurance Holdings

Diana Pietrzak joined BB&T in 2006. Since then she has been involved with the company’s human resources department. She started off as Vice President, Compensation Consultant. Pietrzak was promoted to her current position in October 2019.

Some of her major responsibilities include designing compensation plans, performance management, and profit planning. she also oversees recruitment & retention, Employee Assistance Program, training & development, and employee relations. Diana Pietrazk received her BBA from Walsh College. She attended a graduate program at Wake Forest University.

Find her on:

LinkedIn

What are BB&T Employee Benefits

Here is a complete overview of BB&T employee benefits:

Employee BenefitsDescription
Medical Plan
You get two plan options, the Select Option (low deductibles) and the Consumer Option. With Consumer plan comes with HSA and Limited Use Healthcare FSA. Coverage is provided through BlueCross BlueShield.
Dental Coverage
Dental coverage is offered through Ameritas. You can save money by using in-network dentists. It gives you a maximum payable of $1000 per person per year.
Vision Coverage
Vision Plan is offered through Vision Service Plan. you get coverage for eye exams, contact lenses, glasses, laser vision treatment.
Flexible Spending Accounts (FSA)
You can set aside some pre-tax money for healthcare and other expenses.
Disability Insurance
You get two disability insurance options. One offers 50% coverage while the second one gives you 60% coverage.
401 (k) Plan
Your deferral limit is $19,000. You can contribute 50% of your salary. The 401 (k) match depends on the company you work for.
• CRC Insurance Services: 50% match
• McGriff, Seibels, and Williams: 100% match up to 4%.
• All others: 100% up to 6%
Pension Fund
BB&T offers a defined pension plan. You are fully vested in your account after 5 years.
Paid Time-off
You can be eligible for 0-25 vacation days. The number of days depends on your tenure. You also get sick days, and other off days for events like jury duty, and leave of absence, etc.
Education Assistance
You get tuition reimbursement for your own studies and scholarships for your children. For tuition reimbursement compensation is up to $5,250.
Parental Leave
You can get 20 days off for bonding with your child. Adopting and foster care parents can also get this leave.
AD&D Coverage
Your beneficiaries are covered in case of your accidental death or dismemberment. You get coverage according to the amount you choose.
Retiree Medical Plan
You can get retiree medical coverage if you enroll in the program during your service with BB&T.
Relocation Benefits
Job-related relocations are covered by BB&T through BB&T Relocation Program.
Dependent Life Insurance
You get coverage for your dependents. For spouse death, the coverage is $10,000 and for a child’s death, it is $7,500.
Basic Life Insurance
Basic Life Insurance is fully covered by the company. Supplement Life Insurance can be purchased.
Employee Assistance Program
You get counseling for and help with your day-to-day personal and professional challenges.

What Benefits is BB&T Known for?

BB&T employee benefits are quite comprehensive. The BB&T perks create an environment that offers a good employee experience. This, in return, allows the company to maintain a high rate of employee retention. Some of the best-known employee benefits include:

  • A cost-effective medical plan.
  • Dental and Vision coverage.
  • A 100% 401 (k) match.
  • PTO is between 0 to 25 days.
  • Employees get 20 paid days off for bonding with their new child.
  • Medical coverage for retirees.
  • Life insurance for dependents.

The medical plan is not only cost-effective but also offers two options. The Select option has lower deductibles of $1,150 for an individual and $2,875 for family. While the Consumer Option’s deductibles are $2,500 for an individual and $5,000 for family. Consumer Option also comes with HSA and Limited Use Healthcare FSA. The medical plan also offers dental and vision coverage.

BB&T has an excellent retirement plan. You get the 401 (k) plan and a defined pension plan. CRC Insurance Services match is 50%, matchMcGriff, Seibels, and Williams match is 100% match up to 4%. And all others get a 100% match for up to 6%. You are immediately vested in your own contributions. The pension plan is completely funded by BB&T. You are fully vested in your pension fund after 5 years of service. After a vesting period of 10 years, if you reach the age of 55, you can access your fund.

As for PTO, depending on your years of service, you can get anywhere between 0 to 25 vacation days. Other types of leaves include holidays, Leave of Absence, bereavement leave, leave for education and community service, sick days, jury duty, national guard, and reserve yearly training.

Employees can also sign up for Flexible Spending Accounts (FSA). It allows you to set aside pre-tax dollars for a number of expenses. These expenses include Limited Use Healthcare FSA, Healthcare FSA, Dependent Care FSA. You also get commuter benefits TSA, and Mass Transit Transportation Spending Account.

How does BB&T Help with Student Loans?

BB&T does not offer any direct help with student loans. The company does offer a good education assistance program. You get tuition reimbursements for formal degrees that are related to your job at BB&T. The company also gives you a 100% reimbursement for expenses related to mandatory courses. BB&T also gives scholarships to its employees’ children.

Any employer who offers help with student loan repayment is preferred as a career option. The reason is the mounting student loans in America. The technical aspects of these loans make it even tougher for college graduates to manage their student loans.

Companies that already offer or want to offer this benefit need to implement it properly. One of the best ways to do it is through FutureFuel. The platform lets employees create their personalized accounts that make it easier for them to manage their student loans. Employers can also have their FutureFuel accounts and manage the student loan benefit.

How do BB&T Benefits Change for Different Jobs?

BB&T offers some of the most competitive benefits you will find anywhere. Employees are given every incentive to give their best and every chance to thrive at BB&T. Even though the basic benefits are the same, but the nature and conditions of these benefits change with job type, job level and the number of employment years. Here are a few ways how BB&T benefits change for different jobs:

  • The number of vacation leaves depends on your years of service. You start from zero leaves and work your up to 25 per year.
  • Disability coverage has two options. The one that offers 60% coverage takes employees’ Benefits Annual Rate and age into account.
  • Employees based in California have an additional option for a medical provider, Kaiser.
  • The 401 (k) match also depends on the company you work for.
  • Employee benefits also change for full-time, part-time employees, and new hires.

Moreover, coverage policies can be different for different U.S. states.

How BB&T Improved its Benefits Package Overtime?

BB&T has been around for almost 148 years. Since its inception, the company has paid special attention to creating a work environment where employees can thrive personally and professionally. Frequent updates to coverage plans ensure that employees can keep up with the ever-increasing financial expenses. The company also keeps introducing perks and benefits that can help employees achieve a better work-life balance.

For example, employees now get paternal leave. This leave also includes adopting parents and parents through surrogacy. The number of leaves also increases with time. The retirement plans also mature as you spend more time with the company. When it comes to keeping its employees happy, BB&T has certainly been getting it right.

Are BB&T Careers Worth It?

BB&T has established itself as a reputable organization that offers the very best of benefits and coverage to its employees. These perks allow employees to build their careers and achieve financial stability. Here are a few factors that make BB&T an excellent career option:

  • You get competitive salary packages.
  • Besides salary, employees get compensations, performance-based bonuses, and salary increments.
  • Perks like commuter benefits, education assistance, and Employee Assistance Program, reduce financial expenses. Employees can manage their income better and plan their future well.
  • Any work experience with BB&T increases your market value.
  • The excellent retirement plan sets employees up for retirement.
  • BB&T likes to promote from within the company, so you have every chance to advance in your career.
  • The company also has a work environment where employees can improve their skills and knowledge.

Discover BB&T Jobs and Careers

If you want a job at BB&T, you should keep checking the following websites:

BB&T Careers

BB&T has a very detailed job webpage. You can find all the listings and also search by location, state, category, and job type. The search feature will help you narrow down your search and save time. All the listings have complete job details such as job descriptions, requirements, skills needed, and qualifications, etc. You can apply for jobs online by filling out BB&T’s online application form.

BB&T Glassdoor

You can find more than 600 job postings on Glassdoor. To look for specific jobs use the website’s search filters. You will also find all the details about each available position. You can also see hundreds of employee reviews. These reviews will give you a clear idea about the company’s work culture and employee experience.

BB&T Indeed

Indeed is also a good place to look for BB&T jobs. It has a powerful search tool that will narrow down your search. Besides, this feature will help you save time. All jobs have detailed information. Similar to Glassdoor, Indeed also has hundreds of employee reviews. Besides reviews, the website also has a Q&A section that will tell you all about BB&T as an employer.

BB&T LinkedIn

LinkedIn also has a lot of job postings. The search feature will make your search easier and faster. You can find a job based on your preferences. Moreover, you can apply directly on the BB&T website through LinkedIn.

 

 

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