The tech industry has gained a reputation in recent years for offering generous benefits, particularly those aimed at helping workers achieve a better work/life balance. Lengthy (or unlimited) vacation, flexible scheduling and paid parental leave are all examples of benefits major Silicon Valley firms have championed as a way to attract and retain top talent.
So it's hardly surprising that a new study finds tech firms are much more likely than other employers to offer in vitro benefits to employees struggling to get pregnant.
The report by FertilityIQ, which studies fertility services, finds the average fertility benefit offered by tech firms is 35 percent higher than those offered by other employers.
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The average fertility benefit offered by the tech employers the group examined is worth $42,000, compared to an average of just under $30,000 in banking, $26,400 in pharmaceuticals or $22,500 in consulting.
Of course, the report points out, the majority of U.S. employees (56 percent) are on the hook entirely for any fertility treatment they seek.
However, most employers who do offer fertility benefits cover the entire cost of in vitro fertilization for employees. Eighty percent of all employees therefore either get none or all of IVF paid by their employer.
According to the report, a "fully-loaded" round of IVF treatment costs an average of $23,050. FertilityIQ pushes back on what it says is the "popularly-reported" figure that treatment typically costs roughly $12,400.
Some firms offer generous benefits that will pay for multiple rounds of IVF for employees struggling to conceive. Spotify and Bank of America have no cap, while Facebook covers four cycles of treatment and Google will pay for three. Conair will cover up to $100,000 worth of treatment.
Demand for IVF has risen steadily in recent years as a result of older couples trying to conceive and more same-sex couples or single people deciding to have kids.
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