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Gilead recognizes outstanding performance with a variety of rewards. Our Total Rewards package helps us to attract and motivate the talent we need to remain competitive in our industry.
The Total Rewards program includes exceptional stock option and employee stock purchase plans, competitive base salary and incentive compensation, health and welfare benefits, 401(k) savings with a company match that vests immediately, and other valuable benefits, such as paid time off and wellness programs.
Linking pay to company and individual performance is central to Gilead's continued success. Our Total Rewards program allows you to see your compensation increase when you and the company perform well.
Gilead offers both competitive base pay and several forms of incentive compensation. All Gilead employees are eligible for a bonus, except those on commission plans. Unlike many other companies, Gilead offers each U.S. regular employee a stock option grant at hire. After the new-hire grant, additional stock options are granted annually according to your individual performance and potential. Finally, the Values at Work cash awards program recognizes employees who demonstrate Gilead's core values of integrity, accountability, excellence and teamwork.
Gilead's Employee Stock Purchase Program (ESPP) is one of our most highly valued benefits. When you participate in the plan, you can elect to have 1% to 15% of your pay withheld (subject to IRS limits) to purchase company stock at a discount. Our ESPP differs from that of many other companies in that your purchase is typically locked in for a two-year period rather than the usual six-month period. Your purchase price is 85% of either the fair market value on the date you enter the plan or the fair market value of Gilead stock on the purchase date, whichever is lower. You benefit from the automatic 15% discount off the price of the stock, as well as from any gain in the stock price during the time you hold the stock.
The 401(k) plan includes a matching contribution of 50% of your contribution, up to a maximum of $7,500 a year. Unlike many plans, where matching contributions vest over several years, Gilead's matching contributions vest immediately.
All regular U.S. employees working 30 hours or more per week are eligible for health coverage. Your spouse or domestic partner and your dependent children through age 25 are eligible dependents under Gilead's benefit plans. Coverage begins on your date of hire.
We offer rich medical plans with several coverage options - including both preferred and exclusive provider networks - and nominal out-of-pocket costs. All plans include a discount mail-order drug program. We offer vision care and a dental plan that covers preventive, routine, major restorative and orthodontia care. We also provide life, accidental death and dismemberment, and short- and long-term disability coverage. Finally, Gilead offers health and dependent care reimbursement programs that allow employees to set aside a portion of their salary on a pre-tax basis to pay for qualified health and dependent care expenses.
Complementing the medical plans, Wellness at Gilead offers an array of services that help employees achieve and maintain optimal health, including biometric screenings, wellness seminars, fitness classes and health assessment tools.
Regular full-time employees receive 12 company-paid holidays (including an annual winter shutdown) and 10 paid sick days. For the first five years of service, employees receive 15 days of vacation each year.
The program supports employees when they experience a temporary interruption in normal child care, elder care, or other care arrangements and need to get to work. Center-based and in-home care is available 24/7 for loved ones of any age, in any U.S. location, whether they are healthy or mildly ill. Gilead covers the majority of costs for the Backup Care program for up to 80 hours per year.
All regular full-time employees and their families, as well as domestic partners, are eligible to receive EAP services. Benefit services include financial, legal, pre-retirement, eldercare and child-care consultations, as well as clinical counseling. Employees and eligible dependents are entitled to receive up to five sessions per family member for each issue.
After six months of employment, employees can receive up to $5,250 per year to pursue undergraduate, graduate or certificate courses at an accredited college or university.
This program offers employees discounted tickets to major entertainment events, including Broadway and Las Vegas shows, as well as popular vacation destinations such as Disneyland and Walt Disney World.
2012 Interactive Annual Report