Benefits at MathWorks

U.S. Benefits

Insurance Benefits

Health Insurance

MathWorks provides staff members and their families with comprehensive health coverage. The inclusive BlueCross BlueShield Blue Care Elect PPO plan offers quality health care and freedom of choice. Highlights include:

  • Freedom to choose any BC/BS physician without first obtaining a referral
  • $0 copayment for preventive care when using in-network outpatient services
  • $20 copayment when using in-network outpatient services
  • Up to $150 annual reimbursement per household for fitness center membership, including membership in our own onsite facility
  • 80% coverage of out-of-network services (after an annual deductible of $100 per individual or $300 per family)
  • Prescription drug coverage
  • Eye examination coverage and eyewear discounts
  • Unlimited chiropractic visits

Dental Insurance

MathWorks Dental Benefit Program provides comprehensive coverage through Blue Cross Blue Shield’s Dental Blue Plan. Highlights include:

  • 100% coverage for diagnostic and preventative care, with no deductible
  • 100% coverage for all basic restorative work, such as fillings, and 60% for all major restorative work, such as crowns and dentures
  • Freedom to choose an in-network or out-of-network provider
  • Orthodontia coverage for adults and children

Life Insurance

In the event of the death of a staff member, MathWorks provides life insurance coverage to help protect the financial security of the survivors.

The basic life insurance, equivalent to a staff member's annual salary with a maximum of $150,000, is provided free of charge. Staff members may purchase an additional 1, 2, 3, or 4 times their salary to a maximum of $800,000 (total combined with company-provided coverage).

Domestic Partners

Health, dental, and optional life insurance benefits are offered to same-sex domestic partners in states that do not recognize same-sex marriage.

Disability Benefits

MathWorks provides short- and long-term disability plans, which are 100% company paid. These plans offer protection against income loss when illness or injury prevent a staff member from working.

Flexible Spending Accounts

These plans allow staff members to contribute up to $3500 on a pretax basis for eligible nonreimbursed medical- and dental-related expenses and up to $5000 on a pretax basis for eligible dependent care expenses.

Vacation and Holidays

MathWorks offers a variety of benefits to provide staff members with free time for rest, relaxation, and personal pursuits.

Vacation Days

Vacation time accrues monthly for a total accrual of 15 vacation days at the end of the first year of employment. After four years of service, the rate of accrual increases, adding one day per year up to a maximum of five weeks.

Personal Days

Staff members have up to 24 hours of paid personal time each year to use at their discretion.

Holidays

MathWorks provides paid time off to celebrate the following established legal and traditional holidays: New Year's Day, Presidents' Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day and the Friday after, and Christmas Day.

Training and Development

Training and development are not only strongly encouraged at MathWorks, they are a key part of our company's purpose and our core values. We encourage every staff member to foster his or her own personal and professional development by participating in at least 40 hours of training every year. We provide and facilitate many opportunities to achieve this goal.

Training at MathWorks

MathWorks believes in reinvesting some of our hard-earned profits in ourselves. To that end, we make a variety of training options readily available, including:

  • In-house seminars
  • Public seminars
  • Onsite high-tech MBA certificate program
  • Subscriptions to professional organizations and periodicals
  • Industry conferences
  • Tuition assistance for formal continuing education programs
  • Business-related books and tapes

Tuition Assistance

MathWorks encourages educational development and excellence and will partner with you to help you achieve your higher education goals. Opportunities may be pursued through our tuition assistance plan.

  • Reimbursement at 100% of the cost for tuition, fees, and books for two approved courses at one time
  • Total maximum reimbursement of $5000 per calendar year

401(k) and Bonus Plan

Stakeholder Bonus Plan

The Stakeholder Plan is a quarterly bonus program designed to reward and encourage staff members' contributions to the success of MathWorks. Three factors determine the amount given: company profitability, individual performance, and individual salary. The Stakeholder Plan has been in place since 1993 and has paid out every quarter since then.

401(k) Plan

MathWorks offers a 401(k) Savings and Investment Plan with a choice of 20 investment funds and a self-directed brokerage option. Staff members may contribute up to 50% of their total pay on a pretax and/or Roth 401(k) basis and up to 25% on an after-tax basis. MathWorks matches 50% of the first 6% that a staff member contributes to pretax or Roth 401(k). Depending on year-end profitability, MathWorks may elect to match an additional amount. Historically, MathWorks has elected to match a total of 100% of the first 6% of pretax contribution.

Fitness and Recreation

The health and well-being of staff members are very important to MathWorks. We have many programs in place to support the notion that our staff members are "real people" with lives and interests outside their jobs.

Fitness Center

Our state-of-the-art fitness center, located onsite, is open 24 hours a day, seven days a week. In addition to the wide variety of cardio and Nautilus machines, free weights, and other exercise equipment, the fitness center offers group exercise classes, personal training, nutrition counseling, health education, and wellness seminars and classes.

Sports and Physical Recreation

The many sports and recreation enthusiasts at MathWorks are encouraged to pursue their interests. Runners and speed walkers have ready access to nearby backroads and woodland trails. Outdoor basketball nets are located behind the parking garage, and staff members often play pickup games at lunchtime or after work. We also support more organized sporting activities, such as soccer and golf leagues, a gardening club, and mountain biking.

Museum and Movie Passes

As a corporate sponsor of the Museum of Science and the Children's Museum, MathWorks receives free passes each year for use by staff members and their families. We also have reduced-price movie tickets available for purchase that are good at all AMC, Loews, and Regal Theatres.

Extras

We provide a wide variety of personal services and amenities to help staff members cope with the demands of daily life.

Referral and Counseling Services

Through Sobel & Raciti and Resources on Call, we offer a range of free and confidential services, including financial and legal advisors, child and elder care referrals, and confidential counseling. Counselors can be reached 24 hours a day by calling a toll-free number.

Paid Volunteer Time

Full-time staff members are eligible for 8 hours of paid time off per calendar year to be used for community service activities.

Other Amenities

  • Lactation room
  • Dry cleaning pickup and delivery service (for a fee)
  • Weekly table massage (for a fee)
  • Free hot and cold drinks and fresh fruit all day
  • Free breakfast every Wednesday
  • Free fresh-baked cookies every Friday

A Few Cool Perks

  • The Stakeholder bonus program has paid out every quarter since 1993.
  • The onsite fitness center offers free classes in yoga and kickboxing.
  • Garages have electric-car/EV charging stations.
  • You get a cash bonus when you refer someone who is hired.
  • The health plan covers unlimited chiropractic care.
  • You have access to services that help with work-life balance.