Nice overall retirement plan offered
Here's the deal with annual raises - the department (in my case 4 people) has to average 2% for annual raises and how they divvy it up is decided by the director and/or the business unit manager. If someone gets a 3% raise, that means someone else has to get 1% - easy enough if you have poor performers in your department, but if not, count on getting 2% per year.
A Pension is by far the best thing about the benefits at Ball Aerospace
Benefits are very good compared to other employers currently
There are three medical options. Top insurance plan is 630 dollars a month for a family.
Just started offering adoption assistance as of 2018 Max $10k lifetime (fulltime) and $5k for part-time
401k Match and a Pension is very rare. The tuition reimbursement was also great. They have been holding the line on health care costs for the past many years, but the deductibles and out of pocket maximums have been getting larger.
The benefits are pretty straight forward and are fairly competitive. It is one of a few companies that still offer a pension.
The scoop on the Bonus Plan (Incentive Compensation)- for the support functions (Finance, Supply Chain, etc)- the IC plan is only available to managers/supervisors. Individual contributors (non-supervisors) are not eligible (no matter how awesome you are- management won't communicate this unless pushed). If you are a manager/supervisor- acceptance into the IC plan is NOT automatic. A "meeting" is held in August among the President and VPs where the small number of IC slots are fought over and assigned- some get in, some don't (the actual criteria and # of slots is unknown). Once selected, the "chosen ones" aren't notified until February of the next year (why the long time break in-between is a mystery). For mid-level managers lucky enough: the starting point is +/-5% of your base salary (not exactly earth-shattering). The actual payout is calculated after the end of the calendar year and all hinges on a bizarre "EVA" (Economic Value Added) formula. My experience: I was with the company for just short of 10 years total before leaving/came in with 10 years of experience. It took me 5 years with the company just to get nominated for the IC plan (15 years total experience) and, once accepted (5% base salary/lowest tier), another year before my first potential bonus payout. After waiting all this time just to get into this "vaunted" IC plan that no one is allowed to talk about, my first payout was a whopping $1700 on the Ball Corp-side (20%) and -$700 on the Ball Aerospace side (80%). Yup- you read that right (NEGATIVE $700)......I actually "owed" money to the bonus plan my first year in....... My wife's head exploded when I brought the letter home..... How do you end up owing money to a "bonus" plan??? Well, they found a way at Ball Aerospace.... Full disclosure- I wasn't required to write the company a check for $700, it was simply deducted from my "bonus" the next year which ended up being my last year with the company after it became clearly evident that the financial rewards just aren't there. If promotions and compensation are an important motivating factors for you, you should reconsider looking at Ball Aerospace. It's all about chasing the"carrot" with this company. Even when you do finally claw your way up the chain, the rewards are minuscule compared with the time and effort to get to that point. When I told my boss the first bonus "wasn't going to work for me" I was told "you should be glad your in the plan". Well....have fun filling my open position.......
Mediocre High Deductible Health Plan (Cigna). No 401K performance match in recent memory. Still have a Pension (Defined Contribution). Annual raises are mediocre (~2%) and not really based on work performance (just peanut butter spread across the org). Flex Time within 2 week period a plus. Work/Life balance is better here than other employers I've worked for. Employee Stock Purchase Plan is really nice.
List based on reports from current and former employees. It may not be complete.