I was contacted by a headhunter and the job, offered by QTL, seems interesting according to his description. My concern is that there are some problems with Q, particularly with QTC. Should I worry about the next round of layoffs, which perhaps will take place within the next year?
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@ttp: Sorry, I forgot to add: No, your employer cannot legally keep a portion of any monthly insurance premiums you are required to pay. That would be ERISA fraud. And if it was as "sexy" for prosecutors as "drug busts," it would be criminally prosecuted at the federal level. But the employer does deduct the premiums from your paycheck. You just have to make sure that all they are deducting is the insurance costs and any tax withholding for your income bracket. They should not be taking out a "commission" from each paycheck for placing you. They get paid by Qualcomm.
About the benefits thing.... Under the Affordable Care Act, all employers in the US must make health care available to employees. The terms vary with the employer, but the care must include certain core preventive care for free. Yes, it is legal for the employer to "profit" from healthcare--if it is set up correctly to avoid conflicts. As a matter of fact, if you read all 100+ pages of Qualcomm's Plan, they also "profit" to some degree from the Plan. In particular, they receive a percentage of pass-through savings and discounts on services negotiated by the insurer, and the Pharmacy Benefits Manager. The fiduciary for the plan is a separate trust, which is how they avoid conflict of interest. With overseas employment corporations that have a US presence, the legal divisions are often less well-defined, and money is fungible. If more than one plan is offered and the employer acts as an "agent" they can also receive a commissions from the insurance company chosen by the employee. But yes, it is legal. The benefits offered are usually of the high-deductible variety. The Plan doesn't pay until you have incurred and paid out-of-pocket about $1,500-$2,500+ per individual in medical and pharmacy bills. The big profit centers are "bridge" insurance plans, such as Aflac, which cover the deductible and necessities, and is sold on a commission basis. These are not regulated in the same way as health plans, and you have to be careful what you sign up for. Dental and vision are also profitable because they also are not regulated to the extent health care is. It's like buying car insurance--only it's for your health, and is also sold on a commission basis.
If the plan provides an HSA or FSA, it is usually better to estimate your yearly medical, dental and vision expenses and use pre-tax dollars to pay for them in this way.
can you explain about the benefits being a profit center for the agency. Are you saying they keep a portion of the health insurance premium you are forced to pay ? Is that even legal ?
thank you for the info VUY
teu: Applying directly may not be possible, as QCOM may not want the hassle--and potential legal conflicts of hiring employees after they laid off most of their talent. But if your headhunter is anything like the guys who tried to recruit me after I quit, they start out at obscenely low prices--often $35 per hour or less. Assuming you have the skills you claim, tell the headhunter you can't really live on what he's offering. If they want your skillset, they will bargain. Depending on your skills, you should be able to get at least $65-$75 for mid-range skills, and a B.S. If you have more than 10 years, you should be getting over $100. The benefits offered by the headhunter's contracting company are often the real profit center, so you may need supplemental. Also, make sure they are not taking out more than permitted from your pay to cover taxes and benefits. They should be paid by Qualcomm--not by you.
Stay away from QTC.
But QTL, QTI, QCT, and QCA are fine.
Longevity should be defined in months not years.
I would suggest avoiding the headhunter and applying directly with the company as you can likely negotiate a better package. Consider it a temporary gig while you look for a more stable position. Also keep in mind there are negative connotations associated with working here now, so it will not look good on your resume, but like I said if it is just a stepping stone, not the end of the world.
Better than being a Walmart greeter but not by much.
Avoid unless desperate!