Lockheed Martin Benefits

3.4 out of 5 (40 comments)
Most talked about benefits
  • Health Insurance

    "They are trying to move everyone over to the Lockheed Health plan and get rid of all others." (18 comments)

  • Vacation & Paid Time Off

    "I am satisfied with the time offer" (14 comments)

  • 401K Plan

    "Every other place I have worked wit has been a better program." (12 comments)

From compensation and benefits to flexible work schedules and financial tools, at Lockheed Martin we show our appreciation for your skills, ambitions and potential.

Provided by employer [?]

Benefits Summary

  • High % reporting
  • Medium % reporting
  • Low % / No reports
  • * Employer Verified

Insurance, Health & Wellness

Financial & Retirement

Family & Parenting

Vacation & Time Off

Perks & Discounts

Professional Support

Employee Comments

  • Sep 11, 2014
    Current Engineering Project Manager in Reston, Virginia

    Overall I am satisfied with the benefits, but there are betters options with competing companies if you seek top notch medical insurance. I was also very disappointed that they froze the pension earlier this year.

  • Sep 10, 2014
    Current Subcontract Administrator, Senior in Washington, District of Columbia

    The insurance benefits used to be better with various options and providers, but like all companies today the costs are being shifted to the employees and only one provider for Health is Aetna. The dental plan is the BEST of all the benefits and vision is so cheap it cancels itself out. The life insurance and disability are very affordable, but have always been. The premiums are lower, but the deductibles are high. If you take a lot of prescription meds than you'll enjoy the discounts on the plans. The company match is pretty standard and if you choose to pay a fee to get your account managed by the 401k vendor it's well worth it. The vacation benefits are great and you earn them monthly. The use or lose cap is at 400 hours which is great for folks who have been around a while. The other benefits will vary based on who your manager is and program requirements. I know people who lose vacation hours because they are key personnel and can never use their time or get it approved which is absurd. Teleworking is becoming increasingly frowned upon which is frustrating, when it would actually improve work/life balance and lower overhead, but it depends on your functional organization and again your manager. The employee discounts are great and I used them often, they change every few months so it's good to keep checking.

  • Sep 7, 2014
    Former Staff Auditor in Fort Worth, Texas

    The benefits package is probably best in the industry

  • Sep 7, 2014
    Former Electro-optics Engineer in Palo Alto, California

    Paid time off was great, the whole company shuts down between Christmas and New Year's so you don't have to use any vacation time. The 9/80 schedule gives you every other Friday off, so that's an extra 25 or so days off.

  • Sep 4, 2014
    Former Employee in Herndon, Virginia

    It is a comprehensive program with great coverage on all levels.

  • Sep 16, 2014
    Current Employee in Seattle, Washington State

    401k half match up to 8% (they put in 4%), custom health plan that gives you opportunities to earn money added to a health fund where out of pocket expenses come from first.

  • Sep 15, 2014
    Current Employee in Sunnyvale, California

    Health Insurance option getting worse.

  • Sep 14, 2014
    Current Employee in Washington, District of Columbia

    Matching 401k, vacation, work life balance. Expensive.

  • Sep 1, 2014
    Current Software Engineer in Fort Worth, Texas

    Benefits are good, gives you 3 weeks of vacation when you join. They contribute to the 401K 3% of your salary. Health insurance coverage is good. Gives you Dental and Eye insurance. Every other friday is off. You work for 9 hrs everyday and get every other fri off. Can have flexible spending account. Gives you life insurance, twice of your salary.

  • Aug 27, 2014
    Current Program Security Representative Senior in Cleveland, Ohio

    Flexible work schedule is great. Matching 401K (50%) and CAP is a very nice benefit (CAP=LM automatically gives 4% of your salary into a 401K type plan). Medical is so-so. Eye plan is good. Vacation is generous also plus 40 hours of mandated holiday and 40 hours of personal floating holidays). Raises and promotions are hard to come by but not impossible. In four years, I've seen vacation days cut from 440 to 400 hours (carryover from one year to the next), change in performance reports (mandated stratifications), and elimination of per diem for travel. They have increased the CAP from 4 to 6% starting in 2016. The biggest complaint is there are no cost of living increases. If you rate a merit increase, it is typically less then the "real" cost of living increases. Overall, I'm satisfied.

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