Working at Sallie Mae | Glassdoor

Sallie Mae Overview

Newark, DE
1001 to 5000 employees
1973
Company - Public (SLM)
Finance
$500 million to $1 billion (USD) per year
Sallie Mae is a company created with great purpose. We make the dream of higher education a reality. We do it by being a resource for families who want to save, plan, and pay for college. Our vision, to be a trusted financial partner, inspires us to explore new ways to serve our ... Read more

Mission: Sallie Mae's mission is to be a trusted financial partner helping Americans reach their potential. We make the dream of higher education a reality by helping families save, plan and pay responsibly for college.

Company Updates

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    Sallie Mae Recognized for Its Support of Employees Serving in the Military

    NEWARK, Del.--(BUSINESS WIRE)--Sallie Mae, the nation's saving, planning, and paying for college company, has been honored by the Delaware Employer Support of the Guard and Reserve (ESGR) with the Above and Beyond Award for its efforts and benefits that support military service member employees.

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    Sallie Mae Awards $150,000 in Scholarships to Help Employee Families Pay for College

    NEWARK, Del.--( BUSINESS WIRE)--Sallie Mae, the nation's saving, planning, and paying for college company, today announced it has awarded $150,000 in scholarships to 30 children of employees as part of the company's Family Scholarship Program. To date, more than 300 children of Sallie Mae employees have benefited from the program, which has distributed more than $1.6 million in scholarships.

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Sallie Mae Video

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Sallie Mae – Why Work For Us?


Meet Sallie Mae

At Sallie Mae, we’re proud to have helped more than 34 million Americans save, plan, and pay for the education that can offer them that key. It’s a responsibility that we do not take lightly. In our 40 years we have developed responsible education loans and innovative programs to help families start saving for college.

For those who need help paying for college, we encourage responsible borrowing. Use grants and scholarships as well as savings and income before taking out loans to pay for college. If families need to borrow, we recommend they explore federal student loans and then consider a responsible private education loan to fill the gap.

As a company, we uphold strict standards of corporate governance and believe that transparency and ethical conduct best serve our customers and investors. Above all, we are committed to helping turn our customers’ dreams of education into reality.

Services

Sallie Mae services operate cohesively to offer solutions that help families save, plan, and pay for college.

Private education loans

We offer education loan options for undergraduates, graduate students, and professional students, as well as families with children in private K–12 schools. Our loans are designed to help bridge the gap between personal resources and financial aid. The popular Sallie Mae Smart Option Student Loan® helps students graduate with less debt, offers repayment choices, and rewards on-time payment habits.

Banking

Our banking products — including Money Market Accounts, Savings Accounts, and CDs — feature competitive interest rates, low fees, and mobile access. (Deposit products are offered through Sallie Mae Bank, Member FDIC.)

College savings

We are committed to helping families save for college. Upromise by Sallie Mae® provides an opportunity for members to earn cash back for college on everyday purchases.

 

Philanthropy at Sallie Mae

Philanthropy and corporate citizenship go hand-in-hand at Sallie Mae where the company encourages its employees to improve their communities with donations of time, talent and money. In recent months, employees have distributed and read books to kids through Reading Is Fundamental, volunteered to help Junior Achievement inspire and prepare young people to succeed in a global economy, collected food for families in need, and given the gift of life by participating in blood drives.

In honor of the philanthropic commitment of Sallie Mae employees nationwide, the company offers employee programs to provide up to four hours of paid leave time per month to volunteer for a Sallie Mae-supported, education program in their community.

The Sallie Mae Fund

The Sallie Mae Fund, a charitable organization sponsored by Sallie Mae, achieves its mission — to increase access to higher education for America's students — by supporting programs and initiatives that help open doors to higher education, prepare families for their college investment, and bridge the gap when no one else can.

In addition, The Sallie Mae Fund encourages employee volunteerism and community service in the communities where Sallie Mae employees live and work.

Sallie Mae established a donor-advised fund at The Community Foundation for the National Capital Region in 1992, with an initial grant of $2 million, to institutionalize its history of educational programs, scholarships, employee volunteerism, and community service.

In the late 1990s, The Fund's giving efforts evolved to focus on access philanthropy — promoting that a higher education is accessible and affordable to all. Since 2001, The Sallie Mae Fund has contributed more than $123 million, largely to address key barriers to college access.


We are in the business of helping students and families achieve their dreams of higher education. And we apply that same passion to helping our employees achieve professional and personal growth. Sallie Mae is dedicated to helping you unlock your potential.

Sallie Mae is proud to be an equal opportunity (EEO) employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, gender, sexual orientation, national origin, age, genetic information, gender identity, disability, Veteran status or any other characteristic protected by federal, state or local law. If you'd like more information about your EEO rights as an applicant.

Benefits

Sallie Mae makes a significant investment in its employees and their families by providing access to a comprehensive, quality and affordable benefits package that focuses on health and financial wellbeing with work-life balance.

Medical & Prescription

Sallie Mae’s medical benefit, provided by Highmark Blue Cross Blue Shield Delaware, offers extensive coverage, choice and convenience. Employees can choose between three medical plan options all designed to provide access to quality, affordable health care coverage. Highmark, in association with the National Blue Card network has the largest provider networks in the country. Plans do not require referrals for in-network or out-of-network care but some services may require pre-certification.

Enrollment in one of the medical plans automatically includes prescription coverage through Express Scripts, Inc., the pharmacy benefit manager.

Dental

Employees have the choice between two rich plans both offered by MetLife. Under each plan, preventative care is covered at 100% and employees have the freedom to access in- or out-of-network providers.

Vision

The vision plan offered through UnitedHealthcare (UHC) provides optional vision coverage which includes a comprehensive eye exam and a pair of glasses and contact lenses every 12 months.

Health Savings Account

The Health Savings Account (HSA) is a tax-favored account used with an HSA-compatible health plan. The HSA allows for the contribution of funds on a pre-tax basis, which may be used to pay for eligible medical, dental, and vision expenses. 

Flexible Spending Accounts

Health Care and Dependent Care Flexible Spending Accounts are offered through WageWorks. Both plans allow for the use pre-tax dollars to pay for certain health related expenses that are not covered by insurance and certain dependent care expenses.

Life Insurance

Employees received employer paid basic life and accidental death & dismemberment insurance with the option to purchase additional employee, dependent life and accidental death & dismemberment insurance.

Disability Insurance

The company provides short-term and long-term disability insurance at no cost.

401k Savings Plan

Sallie Mae makes it easy to build retirement savings through its qualified 401(k) Plan administered by Fidelity Investments. Employees can begin contributing pre-tax dollars after one month of service and the company begins generous matching contributions after six months of service.

Tuition Reimbursement

In addition to helping customers achieve the dream of higher education, it also supports employees by offering up to $5,250 tuition reimbursement for job-related courses or courses taken in pursuit of a job-related degree.

Family Scholarship Program

The Family Scholarship Program rewards employee’s children with a $5,000 per year scholarship up to 4 years based on academic record, demonstrated leadership skills, and various other activities, awards and honors.

Employee Stock Purchase Plan

Share in the company's success by purchasing shares of Sallie Mae stock at a significant discount off the purchase price.

Voluntary Benefits

Voluntary benefits can help fill in the gaps in medical coverage by providing important benefits that supplement core coverage. They're designed to provide added security for families and help managing out-of-pocket expenses that accompany unexpected illness and injury, allowing for care while also protecting savings.

Sallie Mae offers Accident Insurance, Critical Illness Insurance, Group Auto & Home Insurance, Hospital Indemnity Insurance, and ID Theft Protection.

Paid Time Off

Sallie Mae offers a competitive paid time off (e.g., vacations and sick days) accrual based on level and years of service.

Holidays

Sallie Mae observes 11 paid holidays per year. The calendar mirrors the New York Stock Exchange closures with the addition of Black Friday and a floating holiday.

Paid Parental Time Off

Employees are entitled to receive paid parental leave benefits per birth or adoption event without needing to use accrued Paid Time Off. The plan provides for up to 12 weeks of fully paid time away from work to care for a new born or newly adopted child.

Adoption Assistance

The Adoption Assistance Plan reimburses for expenses associated with adoption, including legal and court fees, medical expenses for the child and/or the birth mother, agency fees, private adoption expenses and travel and immigration expenses.

Sallie Mae Reviews

3.7
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Recommend to a friend
Approve of CEO
Sallie Mae Chairman & CEO Raymond J Quinlan
Raymond J Quinlan
26 Ratings
  • Featured Review

    "Great Leadership, Great Company"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Newark, DE
    Former Employee - Anonymous Employee in Newark, DE
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Sallie Mae full-time (More than 5 years)

    Pros

    Leadership is outstanding
    Company Values are meaningful and sustainable
    Great product backed by strong organization, compliance and management discipline
    The work environment was excellent in every way

    Cons

    More opportunities for growth would make the company even better.

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Sallie Mae Photos

Sallie Mae photo of: Helping to clean up weeds at Hagley Museum
Sallie Mae photo of: Summer 2017 Intern Volunteer Event
Sallie Mae photo of: Summer Intern Volunteer Event
Sallie Mae photo of: Summer Intern Volunteer Event
Sallie Mae photo of: All decorated for the fall fun
Sallie Mae photo of: Harvest Jubilee DJ Fun!
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Sallie Mae Interviews

Experience

Experience
63%
26%
9%

Getting an Interview

Getting an Interview
56%
10%
10%
7
7
5
3

Difficulty

2.4
Average

Difficulty

Hard
Average
Easy
  1.  

    Internal Auditor Interview

    Anonymous Interview Candidate
    No Offer
    Positive Experience
    Average Interview

    Application

    I applied through college or university. I interviewed at Sallie Mae.

    Interview

    There were three interviewers that asked very different questions from each other. One interviewer was HR and asked very basic questions. One was a role play and one was standard interview questions

    Interview Questions

    • The role play question consisted of being a candy store owner and having to manage it more effectively.   Answer Question
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Sallie Mae Awards & Accolades

  • AVA Digital Award - Gold Winner, AVA Digital Awards, 2017
  • Best Banks of 2017 for Savings Accounts, GOBankingRates, 2017
  • Best Banks of 2017 for CD Accounts, GOBankingRates, 2017
  • 10 Best CD Accounts, GOBankingRates, 2016
  • Better Business Bureau Rating A+, Better Business Bureau, 2016
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