Unsurprisingly, Silicon Valley firms like Facebook and Salesforce.com come in top, with consulting, banking and media gigs not far behind
There’s more to Silicon Valley benefits than ping pong tables and kombucha on tap.
FertilityIQ, an online platform for patients interested in assisted reproductive technology, has just published its yearly Family Builder Index of industries and companies offering fertility treatment-related benefits in the United States. And for all the brickbats that have faced the American tech industry this year, they can justly be proud of the perks they’re offering would-be parents.
The website analyzed 14 different industries and concluded that Silicon Valley was the most generous with such benefits. In second place was the consulting and accounting sector, with Wall Street and large fashion and media companies rounding up the top five. The lowest three performers on the index were non-profits, industrial companies and retailers respectively, though there’s widespread variation within them. As the report’s authors note, the Bill and Melinda Gates Foundation—the largest non-profit organization in America—offers IVF-related perks that are comparable to any corporate giant.
More than 250 U.S. companies had such perks on the books in 2017 and among those singled out for praise are Facebook and Salesforce.com, which offer fertility benefits that can amount to around $100,000. FertilityIQ also notes that upstart tech firms like Snapchat, Spotify and Uber have also significantly increased the perks pertaining to assisted reproduction. For instance, the latter ridesharing platform—which has been heavily criticized for an alleged culture of misogyny in its workplace—offered $0 in IVF-related perquisites in 2016. It’s since bumped such benefits to $25,000.
For those in need of help to conceive, the change couldn’t come sooner. By FertilityIQ’s calculations, one IVF cycle now costs over $20,000 for those residing in large metropolitan areas. The average patient undergoes two such cycles.
Whereas the top 5% of FertilityIQ’s employers last year came from Silicon Valley, the upper crust of the 2017-2018 ranking is more diverse. Other big firms that are keen to offer a helping hand to their employees include the Boston Consulting Group and Bain & Co., which are known for the benefits they offer their consultant employees. The likes of Chanel, Unilever, Google and LinkedIn are also on the list, as is News Corp, which publishes Moneyish.
The corporate index was based on three factors: the average dollar size of reproduction-affiliated perquisites, whether companies place a limit on how much their employees spend on IVF and the extent to which they make fertility benefits available to everyone. For example, it’s not unusual for firms to require their heterosexual workers attempt sexual intercourse for 6 to 12 months before paying for such treatments. Among the firms that have waived such requirements are the Gates Foundation, Facebook and Google.
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