At AstraZeneca you will receive a competitive salary and remarkable health and wellness benefits.
Salary & Financial Benefits
Salary levels at AstraZeneca are typically at or above the median for the pharmaceutical industry; annual incentives rank in the top 25th percentile for the industry and are available to all employees, regardless of position or pay band. Long-term incentive opportunities are available to many employees.
Base pay
Each position is assigned to a pay band through a process of market pricing. Individuals may earn base pay anywhere within the assigned pay band, depending on experience, individual contributions, and other factors.
Annual incentives
- Field Sales Incentive Plan (FSIP)
- AstraZeneca Incentive Plan (AZIP)
- Long-term incentives
Stock-based awards are granted to some employees based on external and internal factors.
Reward & recognition
For field sales employees, reward and recognition programs include Circle of Excellence and Being the Best awards. Non-field-sales employees typically enjoy cash-based rewards; however, non-cash rewards may also be given
401(k) plan
Employees may contribute from 1% to 50% of their eligible pay on a before-tax or after-tax basis through payroll deductions. They direct the investment of their contributions and all company-matching contributions among 19 different funds and 11 target retirement funds. AstraZeneca makes matching contributions of one dollar for each dollar an employee contributes, up to 6% of eligible pay. Company-matching contributions are 100% immediately vested. In addition, plan participants who are 50 or older during the calendar year may elect to make Catch-Up Contributions.
Retirement plan
A defined-contribution, money-purchase plan through which the company establishes an individual account for each employee and makes contributions on a periodic basis. Employees have the flexibility to direct the investment and can choose from a wide variety of funds. Employees are 100% vested in their retirement plan account upon completion of three (3) years of service.
Matching gift program
AstraZeneca will match 100% of any contribution employees make to any college or university or to a properly certified foundation or association connected with a college or university.
Health & Wellness
We know that making a commitment to health and wellness is a very personal decision; therefore, the company enables employees to take more responsibility for their lifestyle choices.
Our healthcare strategy focuses on PQA:
- Prevention—taking care of your health before you need to take corrective action,
- Quality—working with medical practitioners and facilities that consistently demonstrate favorable outcomes, and
- Adherence—following your prescribed medical and drug treatment programs.
AstraZeneca’s healthcare program offers employees flexible benefits so they can match them to suit their own needs and priorities, including medical, prescription drug, dental, and vision insurance and disability coverage. Retirement and savings benefits are provided to employees to build a financially secure future. To ensure a healthy work/life balance, our employees also enjoy company-provided holidays, vacation time, adoption assistance, education reimbursement, and leave of absence policies. The AstraZeneca healthcare strategy (PQA) is the framework for all these benefit options.
All full- and part-time employees who work a minimum of 18.75 hours per week are eligible to elect the following health and welfare benefits:
- Medical—coverage through either a PPO or an HMO. Employees may cover spouses, domestic partners, and/or eligible dependents or choose to opt out of coverage and receive cash back (unless the employee is covered under a spouse’s AstraZeneca plan).
- Dental—a PPO plan with general and specialty dentists. Employees may use any dentist to receive services in or out of network, or may opt out of coverage and receive cash back (unless the employee is covered under a spouse’s AstraZeneca plan).
- Vision—the vision plan at AstraZeneca is optional. For those employees who elect coverage, vision expenses will be covered, up to specified amount.
- AstraZeneca drugs—when prescribed by a physician, all AstraZeneca medications are free of charge to qualifying employees and their eligible dependents.
- Disability—short-term disability provides full or partial income replacement for eligible employees for up to 26 weeks of disability. Long-term disability coverage is provided to pay benefits when an employee is out of work for more than 26 weeks. AstraZeneca pays the full cost of long-term disability coverage at 60% base pay replacement, up to certain amounts.
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Life/accident insurance—basic life insurance of one times base pay, up to $250,000, is automatically provided.
Group universal life and supplemental term life—optional coverage wherein employees may purchase additional insurance in amounts from one to five times their base pay, up to $1,250,000. Employees can also purchase coverage for their spouse/domestic partner and/or children, depending on the laws of the state where they live. - Accidental death and dismemberment—coverage equal to one to five times base pay, as well as coverage for family members, may be elected.
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Flexible spending accounts—allows employees to set aside part of their salary on a before-tax basis to pay for qualifying healthcare expenses or qualifying dependent care expenses:
- Healthcare
- Dependent care - Long-term care—protects against the financial effects of long-term illness or injury. This voluntary plan provides benefits for home and nursing facility care. Employees and their spouses (or domestic partners), parents, and parents-in-law may enroll.
- Other voluntary benefits—employees can enjoy group/discounted rates on home, auto, pet insurance, and MetDesk, a resource for disabled children.
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Employee assistance program—provides employees and covered family members with confidential assistance for a wide range of concerns, including free face-to-face mental health and substance abuse sessions (up to eight visits) with experienced counselors.
