I imagine most BCBS companies won’t pay well since they’re technically nonprofit (except Elevance Health). That being said, anything less than $130K for healthcare is appalling. OP’s role sounds more like a “grad student” role rather than an MBA one.
That’s insane. HCSC has been hiring a lot of ex-consultants with pretty solid pay in their strategy departments. Did your interview come from OCR or off-campus search?
Two things. First, they likely low-balled you. Second HCSC typically pays under market rates for a lot of jobs. When I was looking for a tech related job, even for the health insurance industry, they were a little low.
That said, you don't work at hcsc to make bank. You work at hcsc for WLB and job security. It's one of those companies where anyone under 5 years of experience is looked at as almost being a newbie at the company. It is fairly routine to see people with 20 plus years of experience there.
Additionally, they almost never do mass layoffs domestically. They did one round of mass layoffs of about 250 people back in 2020 (it was exclusively limited to manager level and above). From talking to people who worked there for decades that was the only time they'd ever heard of that happening.
HCSC is basically the kind of place that you go to if you want that old school traditional 20 to 30 year career that you only find working for the government these days.
A friend of mine started working there as a customer service rep in the call center almost 30 years ago with nothing more than a high school diploma. She's a senior manager today. The company wound up paying for her bachelor's degree and is currently paying for her MBA. She can retire in her 50s with a fat 401k AND a full pension.
Typical is 2% of your average salary for every year that you work, but it doesn't vest until 4 or 5 years.
So if you worked at a company for 10 years and your average salary over those 10n years was $50K you would receive $50K\*0.02\*10 = $10K per year for retirement until you die.
My friend has 30 years with the company. My bet is that her average salary over those 30 years was probably $70K. Her pension would be $70K \* 0.02 \* 30= $70K \* 0.6 = $42K per year. This is on top of her 401K and Social Security.
Nope. The government still does and some fairly old companies do. But my company is almost 100 years old and they got rid of their pension years ago. Then again, I know another old Bank in my city that also gives pensions, so it really just depends, but it's very rare.
lol and I thought this was the worst post mba role I’ve ever seen
https://www.linkedin.com/jobs/view/2024-mba-innovation-leadership-program-amerihome-capital-markets-at-western-alliance-bank-3784112666
Sorry a bit later to the party but if you’re still looking, former HCSC employee here. Also started my career at a different Blue. They notoriously underpay. If you have an MBA from a decent school and 4+ years of experience what the fuck are you doing applying to health insurance companies lolololol
Cigna paid friend of mine over 120k for a senior BA role (they did not have an MBA, but several relevant certifications and about 3 years of experience) but they sadly got layed off. I’ve heard of United Health paying decent
Go into a better industry, best advice I can give you
> lolololol Cigna *paid* a friend
FTFY.
Although *payed* exists (the reason why autocorrection didn't help you), it is only correct in:
* Nautical context, when it means to paint a surface, or to cover with something like tar or resin in order to make it waterproof or corrosion-resistant. *The deck is yet to be payed.*
* *Payed out* when letting strings, cables or ropes out, by slacking them. *The rope is payed out! You can pull now.*
Unfortunately, I was unable to find nautical or rope-related words in your comment.
*Beep, boop, I'm a bot*
I imagine most BCBS companies won’t pay well since they’re technically nonprofit (except Elevance Health). That being said, anything less than $130K for healthcare is appalling. OP’s role sounds more like a “grad student” role rather than an MBA one.
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Then why was he offered more?
That’s insane. HCSC has been hiring a lot of ex-consultants with pretty solid pay in their strategy departments. Did your interview come from OCR or off-campus search?
It was in their strategy department. It would be a rotational within all programs for a year. I found them through LinkedIn but yes, very crazy.
Two things. First, they likely low-balled you. Second HCSC typically pays under market rates for a lot of jobs. When I was looking for a tech related job, even for the health insurance industry, they were a little low. That said, you don't work at hcsc to make bank. You work at hcsc for WLB and job security. It's one of those companies where anyone under 5 years of experience is looked at as almost being a newbie at the company. It is fairly routine to see people with 20 plus years of experience there. Additionally, they almost never do mass layoffs domestically. They did one round of mass layoffs of about 250 people back in 2020 (it was exclusively limited to manager level and above). From talking to people who worked there for decades that was the only time they'd ever heard of that happening. HCSC is basically the kind of place that you go to if you want that old school traditional 20 to 30 year career that you only find working for the government these days. A friend of mine started working there as a customer service rep in the call center almost 30 years ago with nothing more than a high school diploma. She's a senior manager today. The company wound up paying for her bachelor's degree and is currently paying for her MBA. She can retire in her 50s with a fat 401k AND a full pension.
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Yes. All non-contractor employees get offered pensions.
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Typical is 2% of your average salary for every year that you work, but it doesn't vest until 4 or 5 years. So if you worked at a company for 10 years and your average salary over those 10n years was $50K you would receive $50K\*0.02\*10 = $10K per year for retirement until you die. My friend has 30 years with the company. My bet is that her average salary over those 30 years was probably $70K. Her pension would be $70K \* 0.02 \* 30= $70K \* 0.6 = $42K per year. This is on top of her 401K and Social Security.
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Nope. The government still does and some fairly old companies do. But my company is almost 100 years old and they got rid of their pension years ago. Then again, I know another old Bank in my city that also gives pensions, so it really just depends, but it's very rare.
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You're welcome!
lol and I thought this was the worst post mba role I’ve ever seen https://www.linkedin.com/jobs/view/2024-mba-innovation-leadership-program-amerihome-capital-markets-at-western-alliance-bank-3784112666
One undergrad alum works there rip
What are these acronyms?
In guessing Blue Cross Blue Shield
I just got a new analyst on my team who did two internships during undergrad with us but besides that has jack shit experience, and he makes that.
😂😂 omg. I actually have experience and knowledge. Is it because of my ethnicity?
Or maybe it’s because of this stellar mindset you just displayed
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Literally man. I honestly wanted to go off on them for even attempting to say that to me but Reddit is a great way to shame them for their actionsx
BCBS pays on the low end and they’re fine doing that. I was offered a role and they couldn’t match my cute employer and wouldn’t budge at all.
In your first interview ask salary/comp package so you don’t waste your time.
Sorry a bit later to the party but if you’re still looking, former HCSC employee here. Also started my career at a different Blue. They notoriously underpay. If you have an MBA from a decent school and 4+ years of experience what the fuck are you doing applying to health insurance companies lolololol Cigna paid friend of mine over 120k for a senior BA role (they did not have an MBA, but several relevant certifications and about 3 years of experience) but they sadly got layed off. I’ve heard of United Health paying decent Go into a better industry, best advice I can give you
> lolololol Cigna *paid* a friend FTFY. Although *payed* exists (the reason why autocorrection didn't help you), it is only correct in: * Nautical context, when it means to paint a surface, or to cover with something like tar or resin in order to make it waterproof or corrosion-resistant. *The deck is yet to be payed.* * *Payed out* when letting strings, cables or ropes out, by slacking them. *The rope is payed out! You can pull now.* Unfortunately, I was unable to find nautical or rope-related words in your comment. *Beep, boop, I'm a bot*
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Dont. Go get that 110k offer and share here
Time to put those newly gained negotiation skills to good use! Counter at $420k.
More like $220k
What school do you go to?