T. Rowe
Price
Provides mutual funds
and investment management.
Headquarters:
100 East Pratt St.
Baltimore, MD 21202
Employees: 4,975
CEO: James Kennedy
Stock Symbol: TROW
Website:
http://www.troweprice.com
Career Site
T. Rowe Price is a global investment management
firm serving the needs of institutional and individual investors
worldwide. T. Rowe Price provides a broad array of mutual funds,
sub-advisory services, and separate account management for individual
and institutional investors, retirement plans, and financial
intermediaries.
The firm also offers a variety of sophisticated
investment planning and guidance tools. Headquartered in Baltimore,
T. Rowe Price has offices in Amsterdam, Buenos Aires, Copenhagen,
Hong Kong, London, Paris, Singapore and Tokyo.
At the end of 2010, the company managed $482 in assets for individuals and some of the world's leading corporations, public retirement plans, foundations, and endowments. The firm's investment management services span the full range of U.S. and non-U.S. equity, fixed-income, and multi-asset class investment styles.
In 2010, the company reported revenues of $2.36 billion and net income of $672.2 million.
James Kennedy, the company's chief executive officer and president, said: "Although it was a volatile year, the dramatic and broad-based market recovery that started in 2009 continued through 2010. Additionally, our strong investment performance continues to attract assets from existing and new clients. As a result, our year-end assets under management hit a record level. Quarterly and annual average assets under management also hit new highs for a reported period. Accordingly, our annual net revenues, net income, and earnings have recovered from the recent financial crisis, surpassing their 2007 peaks."
The company was founded in 1937 by Thomas
Rowe Price Jr.
Benefits
Medical Insurance
Regular associates working at least 20
hours per week are eligible for medical/prescription coverage
beginning the first day of the month following the date of employment.
There are several options from which to choose. These plans also
cover dependents such as spouse, same-gender domestic partner,
and children under the age 19 (or 25 if full-time student).
Our plans generally cover hospital, major medical, doctor, prescription, and
diagnostic expenses(subject to provider rules)
Dental/Vision Insurance
Regular associates working at least 20
hours per week are eligible for dental/vision insurance coverage
on the first day of the month following their date of employment.
Lasik Vision Correction Surgery Discount
All regular associates on first day of employment are eligible
for this discount. Plan provides approximately 20% discount for
Lasik surgery to correct nearsightedness, farsightedness, or
astigmatism.
Employee Assistance Plan (EAP) - All regular associates are eligible for the
program on first day of employment. Plan addresses personal or
family problems, emotional strains, substance abuse, financial
worries, work stresses, dependent care issues, and other issues
that may affect work performance. The Nurse Line portion of this
program provides general information and support from registered
nurses on all types of health and medical concerns through a
toll-free telephone number available 24 hours a day, seven days
a week. Employer pays 100% of premium cost.
Basic Life, Accidental Death &
Dismemberment Insurance
Regular Associates working at least 30 hours per week are eligible
for this plan. You are eligible on the first day of employment
or first day of part-time status change to greater than 30 hours.
Plan provides life and accidental death and dismemberment benefits;
basic life insurance equals three times base salary up to a maximum
benefit of $1,000,000.
Travel Accident Insurance
Regular associates working at least 30 hours a week are
eligible for the Travel Accident Insurance plan on the first
day of employment. Plan provides travel accident death benefit
equal to five times base salary within a minimum benefit of $100,000
and a maximum benefit of $2,000,000.
Supplemental Life Insurance
Regular Associates working at least 30 hours per week
are eligible for this plan. You are eligible on the first
day of the month following date of employment or first day of
the month following a qualifying life event. This plan
allows you to purchase life insurance for yourself in multiples
of 1, 2, or 3 times your base salary with a maximum benefit of
$600,000.
Dependent Life Insurance
Regular Associates working at least 30 hours per week
are eligible for this plan. You are eligible on the first
day of the month following date of employment or first day of
the month following a qualifying life event. This plan
allows you to purchase life insurance for your spouse/same sex
domestic partner and/or eligible children. Spouse/partner
coverage is available in increments of $10,000 up to $300,000
and two coverage options of $5,000 or $10,000 for your dependent
children.
Short-Term Disability (STD) Regular associates working at least 30 hours
per week are eligible for STD. You are eligible for this benefit
on the first day of employment or on an effective date of
a part-time status change to greater than 30 hours. Benefits
are paid based on length of services with the firm and associates
must at least have 90 days of service to receive a benefit
from this plan. Plan covers short-term disability benefits, which
begin on the fifth consecutive business day of absence through
180 calendar days.
Long-Term Disability (LTD) - Regular associates working at least 30 hours
per week are eligible for LTD. You are eligible for this benefit
on the first day of employment or first day of a part-time status
change to greater than 30 hours. Plan covers long-term disability
benefits, which begin on the 181st calendar day of disability.
Exercise and Fitness - Regular associates working at least 20 hours
per week are eligible on their first day of employment for
this T. Rowe Price program, which offers reimbursement of membership
dues (up to $200 per year) to any recognized exercise and fitness
club.
Retirement Plan
As a T. Rowe Price employee, the Retirement
Program is an important part of your overall benefits package.
The company helps you save for your retirement by making contributions
to your account. In addition, the Retirement Program also provides
convenient pretax payroll deductions, tax-deferred earnings,
and a wide range of investment choices. And, convenient 24-hour
access to your account is available from on-line access
and Plan Account Line.
You are eligible for the plan on the first day of your employment;
vesting schedule is gradual (fully vested in five years; based
on number of hours worked per calendar year). Associates
can contribute on a pretax basis 1% to 40% of eligible compensation
up to an annual dollar maximum. The company matches contributions
equals 50% of the first 4% of the associate's pretax contribution,
deposited each pay period.
In addition, each pay period, T. Rowe Price deposits a fixed
company contribution based on an associate's eligible compensation.
The contribution equals 4.5% of the associate's earnings up to
the Social Security benefit cap and 9% of earnings above the
Social Security benefits cap.
With approval of the Board of Directors, a contribution equal
to 0% - 6% of an associate's eligible compensation is deposited
in January of each year by T. Rowe Price. This variable
company contribution is discretionary.
Employee Stock Purchase Plan
Regular associates are eligible for the
employee stock purchase plan on the first day of the month following
their date of employment. The company's matching contribution
equals 50% of the first 4% of the associate's after-tax contribution
up to $75,000 per year and 50% on the first 3% in excess of $75,000.
Associates can contribute on an after-tax basis up to 10% of
their base salary, and vesting is immediate.
Paid Time Off
Vacation
- After 90 days of employment, all regular associates are eligible
for paid time off. Vacation of up to two weeks during your first
calendar year of employment (depending on the month of your hire)
is provided. Vacation days increase with the associate's length
of service.
Personal Days - Up to two days of paid personal
leave during your first calendar year of employment (depending
on the month of your hire).
Holidays - T. Rowe Price follows the New York Stock
Exchange holiday schedule; nine paid holidays per year are usually
granted, plus one floating holiday.
Medical Appointment Time - Up to 8 hours per year
to use for medical/dental appointments.
Tuition Reimbursement Program - Regular associates working at least 30 hours
per week may be reimbursed for eligible undergraduate and graduate
level classes (subject to certain limitations). Part-time associates
working 20 to 29 hours per week may only be are reimbursed for
undergraduate classes only. Associates are eligible for the first
full semester after their date of employment when taking classes
that are part of an accredited degree program.
ConSern Education Program - This program assists
all regular associates and their family members with obtaining
financing for educational needs and sponsors a corporate scholarship
program.
Additional Benefits
- Associate referral award program
- Business casual dress
- Community outreach initiatives
- MEDEX Travel Assistance program
- Passes to local attractions
- Property and Casualty Insurance
- Public transportation discounts/ transportation assistance
(MD Only)
- Recognition programs
- Various discount programs both nationally and locally
Updated January 30, 2011
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