Compensation and Benefits

Compensation

NXP provides team members with total rewards packages consisting of base salary, short-term incentives and equity-based long-term incentives for some team members as well as competitive benefits aimed at supporting team members’ financial, physical and mental well-being.

Rewarding performance is a critical foundation for our overall program. NXP is committed to managing all reward-based compensation programs, including merit increases, annual incentive program (AIP) payouts and long-term incentive awards, to deliver on our pay-for-performance philosophy. Rewarding performance is a critical foundation for our overall program.

NXP has policies and procedures in place to promote pay equity, and diligent reviews are performed twice a year alongside the rewards processes. We also developed a proactive process to evaluate each reward-based compensation program in real-time and provide leaders with feedback to ensure fair and equitable compensation. We continue to use analytical tools, to assess potential compensation recommendations that need further review prior to these recommendations becoming effective, in order to make appropriate adjustments and promote pay equity. We use this process globally to evaluate these compensation-related decisions based on a variety of factors, including gender, and in the United States, race and ethnicity.

NXP relies on third-party data to establish fair, equitable and competitive compensation and benefits programs. We then empower leaders to recognize both individual and team accomplishments through a variety of compensation programs. Rewards decisions are linked to a team member’s performance evaluation. A formal assessment of both specific achievements, and the individual’s demonstrated behaviors – consistent with our values – to deliver those achievements, is performed annually.

Benefits

NXP helps our team members maintain their health and financial well-being by supplying benefits that may include an employee stock purchase plan, life insurance, business travel accident insurance, personal accident insurance, paid maternity and paternal leave, personal time off, tuition reimbursement and other employee assistance programs.

In addition, we offer a global flexible work arrangement program, which offers eligible team members the ability to work a combination of on-site and remotely. Although our way of working focuses on meaningful face-to-face interactions, we have incorporated flexibility into our work arrangements in a way that allows us to maintain the focus on strong and effective teamwork, collaboration and community.

In some countries, we also support part-time work schedules, helping to support the overall well-being and greater work-life balance for our team members.

NXP’s benefits programs vary by country and region. Below is an overview of some of the benefits we offer in each region.
Americas Benefits Overview

NXP supports team members in Brazil, Canada, Mexico and the United States by offering a benefits program that includes medical, dental and vision insurance, in addition to any statutory benefits. We offer competitive retirement match contributions and car allowances and lease programs for our sales team members. In the United States, we also offer up to five visits of back-up care (for children or the elderly), tutoring for children, on-site gyms or gym allowance and community service time off, which provides team members with paid time off that can be used to volunteer with non-profit organizations.
APAC Benefits Overview

NXP supports team members in APAC countries with benefit programs tailored to the specific country and can include annual health and wellness checks, medical insurance coverage, hospital coverage and on-site or free COVID immunizations, in addition to any statutory benefits. Retirement benefits are available at each site, with a mixture of pension plans and defined contribution plans. At several NXP manufacturing sites, we supply allowances for the purchase of rice, as well as canteens serving food to offer convenience to our team members. Certain sites also offer on-site health centers and designated areas for sporting activities and religious practices. NXP supports cultural events with gifts and time off for Diwali, Dragon Boat Festival and Chinese New Year.
EMEA Benefits Overview

NXP supports team members in EMEA countries with life insurance, personal accident insurance and retirement (in line with local market practice), in addition to any other statutory benefits. We have a variety of car allowance and lease programs in the countries where our customers are present. In several countries, including France, the United Kingdom and sites in Eastern Europe, NXP provides additional medical, dental and vision coverage, in addition to the country social programs.

NXP pays for all team member benefits, while team members pay the additional fees to cover their families. In some countries, we provide allowances that assist team members with commuting, meals and other work-related costs. We also support health/sports-related activities and cultural events for our team members.

NXP believes our team members are the most important resource we have, and supporting team members with our total rewards programs is one of the reasons we remain successful against our competitors.

Compensation and Benefits

Compensation

Benefits

Americas Benefits Overview

APAC Benefits Overview

EMEA Benefits Overview