TD Bank Employee Benefits Review: Are Their Careers Worth It?

TD Bank Employee Benefits Review: Are Their Careers Worth It?

TD Bank is a United States’ national bank that was founded in 1852. It is a subsidiary of Toronto-Dominion Bank. The corporation has a presence in 15 states of the U.S. and Washington D.C. TD Bank employee benefits make the company a good workplace.

TD Bank is the USA’s 7th largest bank by deposits and 8th largest by assets. It has more than 26,000 employees and 1,300 locations. The bank is headquartered in Cherry Hill, New Jersey.

TD Bank Employee Benefits Team

Girish Ganesan – Head of Talent

Girish Ganesan – Head of Talent

Girish Ganesan was promoted to his current position as Head of Talent in 2018. He is responsible for strategy building and its implementation for all talent-related practices. Ganesan focuses on Talent Acquisition, Organizational Effectiveness, Talent and Succession Management, Executive Development, Learning and Development, and Employee Experience.

He previously worked with Manulife and Northern Reflections.

Girish Ganesan received his Post Graduate Diploma from Humber College and his BA from the University of Dehli.

Find Girish Ganesan on:

LinkedIn

What are TD Bank Employee Benefits?

Some of the major benefits offered at TD Bank are as follows:

Employee BenefitsDescription
Health InsuranceIt is available on copay and the plan is very extensive. You can choose between basic and premium plans.
Dental CoverageBasic dental coverage is available.
Vision CoverageBasic vision coverage is available.
Health Savings Account (HSA)You can set aside pretax money for healthcare expenses.
401 (k) PlanEmployees get a match of 4.5%. You can contribute up to 6% of your salary.
Paid Time OffUp to 6 weeks off.
Maternity and Paternal LeaveUp to 16 weeks off for all parents.
Employee DiscountsEmployees can get discounts on products, services, events, and other attractions.
Retiree BenefitsMedical and dental coverage for retirees is available.
On-Sight BenefitsOn-sight facilities include massages, aromatherapy, BP monitoring, health sessions, eye exams, and cardiac health assessment, etc.
Flu Shot ProgramFree on-sight flu shots and flu shot reimbursements are offered.
Employee Assistance ProgramThe program offers support with everyday personal and professional challenges.
Banking BenefitsEmployees and retirees can receive discounts on various TD banking services.

What Employee Benefits is TD Bank Known for?

Employers have become quite aware of the fact that employee incentives are important to keep a company’s employee morale high and improve employee retention rates. TD Bank also offers a number of employee benefits that focus on the bank’s employees’ mental, physical, and financial wellbeing.

Some of the best-known benefits at TD Bank include the following:

  • Health insurance.
  • Dental and Vision coverage.
  • 401 (k) match up to 6%.
  • PTO up to 6 weeks.
  • Maternity leave up to 16 weeks.
  • Health Savings Account (HSA).
  • Employee discounts.
  • Medical and dental coverage for retirees.

The 401 (k) savings plan is quite good as it allows employees to save well for their retirement. you can contribute anywhere between 2% to 6% of your eligible salary and the company will give you a 4.5% match.

As for TD Bank’s PTO policy, you can work your way up to 6 weeks of PTO, which is quite generous by any standards. This is one of the most popular benefits among employees. Even part-time employees can get some paid time off. Your leaves accrue over time quickly. A few of the federal holidays (not all), however, may be included in your PTO.

The company’s maternity leave is also quite generous. You can get up to 16 weeks off and this is valid for all parents.

Besides these perks, another popular benefit is employee discounts. You can get discounts on different products, events, and services. Moreover, employees and retirees can also get discounts on many banking services offered by TD Bank.

The company also offers many useful on-sight benefits, such as flu shots, eye exams, BP monitoring, massages, and aromatherapy, etc.

All these benefits go a long way in winning employee loyalty, which results in increased employee engagement.

How does TD Bank Help with Student Loans?

TD Bank does not help its employees with their student loan repayments. However, the bank does offer tuition reimbursement. According to Glassdoor, you can get reimbursement for courses or degrees related to your current or any other job at the bank. You can get up to $4,000 a year.

Even though it has its limits, but tuition reimbursement programs do help with tuition coverage. However, these loans do not assist with student loans in any way. The student debt of American college graduates has reached its all-time high, more than $1.5 trillion. Instead of following their ambitions, this massive financial burden forces job seekers to look for companies that offer student loan benefits. However, only 4% of employers offer the program, which limits the options.

But employers are smart enough to understand the rewards of offering student loan benefits. Not only will it attract the best talent but it will go a long way in improving their employee retention rates. That is why many companies are planning to add the support program to their benefits package.

The best way to seamlessly implement student loan benefit programs is through FutureFuel. The visionary platform allows employers to create accounts and use them for sending company contributions and monitor the benefits program. Employees can also set up their accounts and manage their loans and make loan payments through them.

How do TD Bank Benefits Change for Different Jobs?

Many of the TD Bank employee benefits are offered to both part-time and full-time employees. However, the cost and coverage can be different depending on your job level, job type, and seniority level. The benefits also depend on a few other factors that include the following:

  • The cost of insurance such as life and health is different for part-time and full-time employees.
  • Many of the benefits offered are not accessible to part-time employees.
  • The number of paid days off depends on your employment hours/years at the company. So, not all employees have the same number of days off.
  • New hires do not have access to all the benefits. They have to put in a few weeks before they can access the entire package.
  • Benefits change with state and country-wide policies.

How TD Bank Improved its Benefits Package Overtime?

TD Bank is fully aware of the fact that not only does it need to offer benefits but it also ensures that these benefits continue to meet the highest industry standards. The bank does this by constantly updating its benefits package.

Here are a few ways TD Bank has improved its package over the years:

  • TD Bank recently improved its maternal pay to include all parents. It now offers 16 weeks off to all parents.
  • The company has kept the cost of its health insurance quite affordable.

There are also many benefits that get better as you spend more years at the company, these include PTO and the retirement plan.

Are TD Bank Careers Worth It?

TD Bank is one of the most prestigious banks in the United States. Any work experience with the bank is considered valuable as the employees get to learn all about the industry. Moreover, TD Bank offers both wellbeing and monetary benefits that help employees thrive in all aspects of their lives.

Benefits such as 401 (k) savings plans, Health Savings Account (HSA), and employee discounts offer monetary support that helps attain financial stability. The savings plan allows employees to save for their retirement and lead a comfortable post-employment life.

Moreover, employees can have a good work-life balance through benefits like PTO and maternal leave.

Besides the benefits, employees also get extensive on-job training that improves their skills and industry knowledge, increasing their market value.

All these factors make TD Bank a good career option.

Discover TD Bank Jobs and Careers

If you are looking to build a career with TD Bank, you need to keep checking the following websites to see all the latest job openings.

TD Bank Careers

This link will take you to the official TD Bank Careers page for the United States. The page has a search bar where you can search by keywords and location. To see all the available jobs, you can click the Job Opportunities tab, which will take you to the page with all the listings. You can also see additional information about each job. You can submit your application online.

TD Bank Glassdoor

Glassdoor is another excellent platform for job hunting. It lists around 3.3k job openings, which can take time to filter through. So, to make things easier, you can use the search bar and its filters. The website also has an employee reviews section that will give you a better understanding of the company’s work culture and the kind of employee experience it offers.

TD Bank Indeed

Indeed contains around more than 550 job listings. You can click on each job to see all the related information. Indeed, like Glassdoor, has a powerful search bar, which will narrow down your search and save time. Besides employee reviews, you can visit the Q&A page to see answers to all the questions you may have about TD Bank.

 

 

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