1. Millennial Benefit Preferences Study
2015
Peanut Butter
Student Loan Repayment

2. Summary of Findings
Benefit Preferences of College-Educated Millennials
THE AVERAGE RESPONDENT PREFERS STUDENT LOAN REPAYMENT NEARLY 2X MORE THAN
401(K) CONTRIBUTION, 2X MORE THAN HEALTH INSURANCE, 7X MORE THAN FOOD, 11X
MORE THAN GYM MEMBERSHIP AND 12X MORE THAN ENHANCEMENTS TO THE WORKPLACE
ENVIRONMENT
27% OF RESPONDENTS PREFER STUDENT LOAN REPAYMENT 18X MORE THAN 401(K)
CONTRIBUTIONS AND 23X MORE THAN HEALTH INSURANCE CONTRIBUTIONS; THESE
INDIVIDUALS ARE MORE LIKELY TO BE FEMALE AND MINORITY ETHNICITIES
COMPANIES THAT SHAPE THEIR EMPLOYEE VALUE PROPOSITION BASED ON THE DEMANDS
OF MILLENNIAL WORKERS HAVE AN OPPORTUNITY TO ATTRACT MORE QUALIFIED TALENT
AND KEEP PRODUCTIVE WORKERS ONBOARD LONGER
2
RESPONDENTS INDICATED A WILLINGNESS TO STAY AT A JOB AT LEAST 36% LONGER
(1.3 ADDITIONAL YEARS) WHEN AN EMPLOYER OFFERS STUDENT LOAN REPAYMENT
85% OF RESPONDENTS WOULD ACCEPT A JOB OFFER WHEN STUDENT LOAN REPAYMENT
IS INCLUDED

3. 73% of respondents are currently unsatisfied with
at least one benefit/perk provided by their employer
27%
73%
Free meals
Working environment
Gym membership
Discounts Pet insurance
Public commuting
Long term care insurance Student loan forgiveness
Housekeeping service Flu shots
Free job training Benefits for spouse
Carpooling Office supply allowance
Car insurance Paid company parties Housekeeping
Paid further education PTO Perks Site
Tuition reimbursement Financial advising
DOES YOUR COMPANY CURRENTLY OFFER ANY BENEFITS OR PERKS THAT YOU DON'T VALUE?
IF SO, WHAT?
YES NO
3

4. 85% of respondents would accept a job offer when
student loan repayment is included
IF YOU RECEIVED JOB OFFERS FROM TWO EMPLOYERS WITH IDENTICAL SALARY, BENEFITS, AND PERKS,
BUT EMPLOYER #1 ALSO OFFERED TO CONTRIBUTE TO THE REPAYMENT OF YOUR STUDENT LOANS,
WOULD YOU ACCEPT THE JOB OFFER FROM EMPLOYER #1?
YES NO IT DEPENDS
4
85%
13%
3%

5. Respondents indicated a willingness to stay at a job
at least 36% longer (1.3 additional years) when
an employer offers student loan repayment
5
IF AN EMPLOYER PROVIDED YOU WITH COMPETITIVE SALARY, BENEFITS, AND PERKS,
ABOUT HOW LONG WOULD YOU EXPECT TO STAY WITH THIS EMPLOYER?
20%
40%
60%
80%
100%
0 1 2 3 4 5 6
99%
91%
70%
Average 5.0 years
Average 3.7 years
58%
48%
44%42%
35%
21%
19%
65%
92%
More than 2x as many people said
they would stay 6 years or more,
when employer contributes to
student loans

6. College-educated Millennials prefer student loan
repayment 2-12x more than other perks and benefits
6
IF YOUR EMPLOYER WERE WILLING TO CONTRIBUTE $1000 TOWARD ANY OR ALL OF THE FOLLOWING
BENEFITS, HOW WOULD YOU PREFER THE MONEY BE DISTRIBUTED?
AVERAGE SPEND PREFERRED
Student loan repayment
401(k) contribution
Health insurance (e.g., premiums, HSA, FSA)
Food (e.g., breakfast, lunch, snacks, soda)
Gym membership
Workplace environment (e.g., foosball tables, artwork, leather sofas)
$0 $250 $500
$418
$239 2 x
2 x
7 x
11x
12x
$181
$63
$38
$35

7. 27% of respondents prefer student loan repayment
18x more than 401(k) and 23x more than health
insurance contributions; these individuals are more
likely to be female and minority ethnicities
7
Cluster Analysis
15%
25%
35%
27%
LOVE STUDENT
LOAN REPAYMENT
SLIGHTLY PREFER 401(K)
CONTRIBUTIONS
LIKE STUDENT
LOAN REPAYMENT
SLIGHTLY PREFER
HEALTH INSURANCE
CONTRIBUTIONS

8. Implications for Companies
8
Implications for Employers

9. Implications for Companies
9
Modest contributions to
employee student loans can help
attract talent
85% of college-educated Millennials would accept
a job when student loan repayment is offered
SHORTEN HIRING TIMELINE
DECREASE COST TO HIRE
INCREASE QUANTITY OF APPLICANTS

10. Implications for Companies
10
Voluntary attrition can be reduced
by offering benefits employees value
College-educated Millennials expressed a willingness
to stay 36% longer when an employer offers student
loan repayment
SPEND LESS ON TRAINING
REDUCE HIRING COSTS
AVOID LOST PRODUCTIVITY

11. 11
Careful refinement of the employee value proposition
can improve diversity and help companies become
an employer of choice
The group of college-educated Millennials that values
student loan repayment 18x more than 401(k) and
23x more than health insurance contributions
included significantly more females and minorities
than the sample’s average
ASSIST IN RESOLVING AMERICA’S $1.2T STUDENT
DEBT PROBLEM
HELP EMPLOYEES GET OUT OF DEBT
DIFFERENTIATE VERSUS COMPETITORS

12. 12
Peanut Butter makes it easy for companies to offer
student loan repayment
Communicate plan benefits and
rules to eligible employees
EMPLOYEE ENROLLMENT
Set employer contribution amount
and identify eligible employees
PLAN SETUP
Securely route payments to ensure
maximum benefit to employees
PAYMENT MANAGEMENT
$
Validate loan information and loan
servicer accounts of enrolled employees
LOAN VERIFICATION
getpeanutbutter.com
START TODAY AT
Security, controls, and audit reporting
for info in transit and at rest
SECURE ENVIRONMENT
Track contributors, quantify impact
and handle questions
REPORTING & SUPPORT

13. 13
Methodology and Demographics

14. Methodology
THIRD PHASE: QUANTITATIVE RESEARCH AND ANALYSIS, CONDUCTED BY FC CONSULTING
SECOND PHASE: SURVEY TESTING, CONDUCTED BY FC CONSULTING
FIRST PHASE: FOCUS GROUP INTERVIEWS, CONDUCTED BY FC CONSULTING
• 1:1 interviews regarding perceptions of benefits and perks
• Self-administered, online survey delivered via email to 62 testers, completed July 5–8, 2015
• Self-administered, online survey, open from July 26 – August 9, 2015
14
• Distribution included: Email, Handouts, Craigslist, Amazon Mechanical Turk, Facebook, Reddit,
Twitter, LinkedIn
• 717 total respondents
• 229 disqualified based on Age (“20 years old, or younger,” “35 years old, or older,” no response);
study intended to focus on Millennial generation
• 26 disqualified based on Education (“High school diploma, or less,” no response); study intended to
focus on individuals with at least some college education
• 62 disqualified based on Incompletion (no response to final required question)
• 400 qualified and complete responses (n=400 for all charts in this presentation)
• Survey data analyzed and questions refined

15. 15
Gender Employment Status
MALE FEMALE
Yes, salaried
Yes, hourly
No, enrolled in
school full time
No, retired or not
searching for work
No answer
0% 100%50%
0%
3%
7%
36%
54%
50%50%

16. 16
Student Loan Balance Household Income
$100,000 or more
$80,000 - $99,999
$60,000 - $79,999
$40,000 - $59,999
$20,000 - $39,999
$5,000 - $19,999
$1 - $5,000
0
No answer
0% 60%30%
2%
16%
23%
33%
14%
5%
4%
1%
3% $200,000 or more
$150,000 - $199,999
$100,000 - $149,999
$75,000 - $99,999
$50,000 - $74,999
$35,000 - $49,999
$25 - $34,999
Less than $25,999
No answer
0% 60%30%
9%
16%
17%
19%
22%
9%
5%
2%
2%

17. Home and Workplace
17
25%
11%
5%
15%
4%
39%
LIVE URBAN &
WORK URBAN
NO ANSWER
LIVE RURAL &
WORK RURAL
LIVE SURBUBAN &
WORK SURBUBAN
LIVE SURBUBAN &
WORK URBAN
LIVE URBAN &
WORK SURBUBAN
LIVE URBAN &
WORK RURAL, 0%

18. 18
Years Since Completing
Most Recent Degree
Industry You Work In
0% 60%30%
No answer 9%
1 year, or less 16%
2 years 23%
3 years 12%
4 years 9%
5 years 9%
6 years 5%
7 years, or more 17%
0% 60%30%
Retail 7%
Utilities 1%
Oil & Gas 0%
Industrials 4%
Telecommunications 3%
Basic Materials 4%
Travel & Leisure 2%
Advertising, Communications, and Media 7%
Other 9%
Government or Nonprofit 10%
Consumer Goods 11%
Technology 13%
Financials 13%
Healthcare 14%

19. 19
60%
No answer
0% 30%
Southwest - AZ, NM, OK, TX 6%
West - AK, CA, CO, HI , ID,
MT, NV, OR, UT, WA, WY
16%
Southeast - AL, AR, FL, GA,
KY, LA,MS, NC, SC, TN,…
13%
Northeast - CT, DC, DE, MA,
MD, ME, NH, NJ, NY,…
17%
Midwest - IA, IL, IN, KS, MI,
MN, MO, ND, NE,…
46%
2%
Region Ethnicity
White
0% 60%30%
Pacific Islander 1%
52%
Prefer not to answer 4%
Hispanic 15%
Asian 11%
African American 17%
2%No answer

20. 20