Oracle Corporation is one of the world’s leading tech companies. It has been around since 1977 and has a worldwide presence. Oracle’s employee benefits are second to none.
Oracle specializes in selling database technology and software, cloud systems, and enterprise software. In 2018, Oracle became the world’s third-largest tech company by revenue.
It is headquartered in Redwood Shores, California. Oracle has more than 137,000 employees.
Oracle Employee Benefits Team
Jennifer Olson – Vice President, Human Resources
Jennifer Olson has been with Oracle for more than 14 years. She joined the company in 2005 as a Business Partner. Olson was promoted to her current position in 2014.
Her main responsibilities include developing and executing human resources strategies and initiatives. Her expertise includes employee relations, strategic planning, coaching, acquisitions, performance management, and employment law.
Olson received her MBA from the University of Saint Thomas.
Find her on:
What are Oracle’s Employee Benefits?
Here is a summary of all the major Oracle employee benefits:
|Medical Plan ||Employees are given multiple plan options through UnitedHealthCare and Kaiser.|
|Dental Coverage ||You get two dental coverage options. Dental Plan 1 offers preventive, major and basic services and Dental Plan 2 also includes orthodontia services. The insurance plan is based on copayments.|
|Vision Coverage||Vision Insurance also offers two plans. It covers your extensive eye care and a yearly exam. You also get coverage for glasses, contact lenses, and frames.|
|401 (k) Savings Plan||You get a 50% match up to 6% of your eligible salary. Employees who are over 50 have the option to contribute more than the IRS contribution limit.|
|Flexible Spending Accounts (FSA)||You can set aside pre-tax money for dependent care and healthcare expenses. The contribution limit for healthcare is $2,600 and dependent care is $5,000.|
|Commuter Benefits||You can save on parking and transit.|
|Life Insurance||Oracle offers 100% coverage that is equal 2 times your yearly benefits.|
|Business Travel Coverage||Your work-related traveling is covered by Oracle. If you want to extend your stay for personal reasons you can get coverage for 14 days. The plan is fully funded by the company.|
|Student Loan Refinancing||You get student loan refinancing through SoFi.|
|Tuition Reimbursement ||Oracle offers tuition reimbursements up to $5,250 per year.|
|Paid Time-off||Employees get two types of vacation packages. One offers unlimited days while the other offers 13 days for the first three years and then 18 days after that. You also get sick time, paid holidays, and winter break.|
|Maternity and Paternity Leave||Employees can get a maximum of 10 weeks fully paid for maternity.|
|Employee Discounts||Employees get discounts at partner service providers and retailers.|
|On-sight Benefits||Fitness centers, car detailing, dry cleaning, coffee bars, cafes, soda, and fruit juices.|
|Adoption Assistance||A portion of your adoption expenses is covered by Oracle. You get reimbursement up to $3,000 per adoption.|
|Disability Coverage||Your get short-term and long-term disability coverage. Oracle fully covers premiums for disability coverage.|
What Employee Benefits is Oracle Known for?
Oracle’s employee benefits help employees thrive personally and professionally. These benefits are key to offering a good employee experience and keeping employee morale high. Some of the best-known benefits include:
- A comprehensive medical insurance plan.
- 50% 401(k) match up to 6% of salary.
- An unlimited amount of vacation days for eligible employees.
- 10 weeks of paid maternity leave.
- Employee discounts.
- Commuter benefits.
- Adoption assistance of up to $3,000 per adoption.
- Dependent FSA.
When it comes to Oracle’s medical plan, employees get multiple provider options including UnitedHealthCare and Kaiser. A few regions within the U.S also get the option of the Kaiser HMO plan. Your coverage begins the day you get hired. If you spend all of your out-of-pocket limit, the company gives you 100% coverage for these expenses. You also get Dental & Vision coverage.
Oracle offers a 50% match up to 6% of your compensation. The company’s contributions are 100% vested after four years of working with Oracle. You are free to borrow up to 50% of your balance along with contributions that are vested.
Let’s dive into the company’s PTO policy a little more. Employees get two vacation packages. The Flexible Package has an unlimited amount of vacation days. The Accrued Vacation package is for employees who do not qualify for the Flexible Vacation package. Through Accrued Vacation, you can get 13 paid vacation days for the first three years of your employment and then 18 paid vacation days. Employees also get five paid days of sick leave and a winter break every year.
Another excellent benefit is your travel expenses. Oracle covers your work-related travel benefits. But if you wish to extend your trip for personal reasons, the company will pay for your stay for up to 14 days. Oracle will give you 100% coverage.
How does Oracle Help with Student Loans?
Oracle has partnered up with SoFi, a company that offers student loan refinancing and other types of loans. You can get a loan from SoFi to pay your student debt. The company will give you a few benefits that are exclusive to Oracle employees. These perks will make it easier for you to manage your student loan finances.
The company also offers tuition reimbursement to students who wish to study further. In order to qualify, the degree/program should be related to your job at Oracle. You can get reimbursement up to $5,250 per year.
Student loans are one of the most pressing financial concerns for Americans. The financial burden they cause force new graduates to opt for employers who offer student loan support instead of following their ambition.
Another problem is the technical nature of these loans. The terms and conditions make it difficult for an average person to manage the loan. From interest deductions to student loan forgiveness programs, there are many aspects that can help you make the payment process easier.
Companies can make things easier for their employees by offering the student loan benefit through FutureFuel. Both employers and employees can open their own FutureFuel accounts. Employees can use their accounts to manage their student loans and even make payments. Employers, on the other hand, can make sure the benefit is being managed properly. They can even transfer contributions through encrypted transactions on FutureFuel.
How do Oracle Benefits Change for Different Jobs?
Besides its revenue, performance and size, Oracle is also known for its perks and work environment. Even though all employees get coverage and benefits, their job type, job level, location and years of employment determine the kind of benefits they can get.
Here are a few ways Oracle benefits change for different jobs:
- Employees are offered two vacation packages, Flexible Vacation, and Accrued Vacation. Salaried employees who are not eligible for over-time get the Flexible Package that offers unlimited vacation days. The rest of the employees get an Accrued package that offers 13 to 18 days.
- The number of days you get through Accrued Vacation depends on the of years you have been with the company.
- Employees living in California are eligible for Voluntary Disability Insurance Short Term Disability coverage.
- Employees who are 50 years or above can contribute more than the annual IRF Contribution limit for 401(k) contributions.
- Only employees who have worked for 40 weeks at Oracle are eligible for maternity leave.
- All campuses do not get the same on-site facilities.
There are also differences between the benefits for full-time and part-time employees and since Oracle has a global presence, benefits and coverage policies change for different countries.
How Has Oracle Improved its Benefits Package Over Time?
Oracle is a little over 42 years old now. Since its inception, the company has been focusing on offering the best employee experience. Oracle not only keeps updating its employee benefits program, but these benefits also get better with time.
Here are a few ways Oracle benefits package gets better over time:
- The number of vacation days in the Accrued package increases with time.
- Your salary and compensation package get better with time.
- The latest maternity leave policy also includes fathers.
- Medical coverage is given to same-sex partners as well.
Are Oracle Careers Worth It?
Oracle is one of the largest software companies in the world. It is certainly one of the best career options in the tech industry. Here are a few factors that make Oracle careers worth it:
- The company offers a comprehensive medical plan that reduces the cost of your medical bills. This offers financial relief to employees.
- The company has a culture of promoting from within its ranks. So, there are plenty of chances for career advancement.
- Employee benefits and compensation plans help employees manage their personal finances with more ease.
- Oracle’s savings plan offers contributions and a good match, which sets up employees for their retirement.
- You get tuition reimbursement and student loan support (through SoFi).
Besides these factors, any type of work experience with Oracle can open countless career avenues for you. It not only improves your knowledge but also increases your market value.
Discover Oracle Jobs and Careers
Oracle’s official jobs webpage contains all the job info you need. You can use the search feature to search by location, keyword or relevance. Using the search feature will save time and narrow the search down. Each job posting contains all the necessary information. You can submit your job application online.
Glassdoor has about 14,000 job vacancies. To save time and look for jobs in your area, you can use the search feature. The website also has many employee reviews. These reviews are an excellent way to get an idea about the company’s work culture and work-life balance. It will help you make an informed decision. You can apply online through Glassdoor.
Indeed is another good website to find Oracle vacancies. Its search feature is quite good and will save a lot of time. Each job listing has complete information related to each job. Along with employee reviews, you can also see answers to the most frequently asked questions on Indeed’s Q&A section. This page will tell you all about Oracle’s work environment.