{ "media_type": "text", "post_content": "Considering an offer from a boutique consulting firm. Accenture matches 6% 401k while the boutique only matches 4%. Is this a huge difference at the end of the day, or am I overthinking it?", "post_id": "5ac4dcb4ca1beb0013fa9c97", "reply_count": 17, "vote_count": 2, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

Considering an offer from a boutique consulting firm. Accenture matches 6% 401k while the boutique only matches 4%. Is this a huge difference at the end of the day, or am I overthinking it?

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Is 2% of your current salary enough to not accept your new salary? I mean this is as simple a question as you can get...it’s quantifiable.

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YUGE, very big amount. Need to make sure you get atleast double your current %. Make your compensation great again

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My firm contributes billions, and billions, and billions of dollars to my 401k. Get out of here with your %'s.

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You’re a consultant. Do the math?

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Compare the full package not only 401k match

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How is it 4% of OP’s current salary if the difference in match is 2 percentage points and presumably the new salary will be higher?? Eg if he makes 100k now his 6% Accenture match is $6k. If he leaves for $120k at the boutique at 4% he’ll get a $4.8k match so the match difference is actually only 1.2% of his current salary and he’s making $20k more. That’s why everyone is saying “do the math”! It really couldn’t get simpler to figure out.

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It's all relative. 4% is not bad, it sounds standard especially for a boutique. I work at a boutique as well. You should ask about the vesting period though! If you leave within 2 years, does the company get 80% of its match back? The best way to assess is to just consider total comp.

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Although that’s also assuming OP is only going to put the maximum match amount in their 401k

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Only asking about perspectives on the 401k match by the way. Thanks!

OP, yes you are overthinking it. It's not a huge difference, unless the firm has different vesting rules.

I moved to a boutique firm. 4% match that vests immediately. Frankly, though, it's better than the Deloitte match, and that had a vesting period.

Damn, so much hostility for no reason 😂 understand that it’s simple math but there are other factors as well. Thanks to those who gave decent responses!

Hilarious that some of you are making fun of this poster for not doing the math, and then incorrectly doing the math yourself (looking at you Accenture 1) lol

C2 explain a) how me telling OP to calculate if the difference in 401k is a big deal compared to his salary change is me actually doing any math and b) what the error is here.

Your “this is as simple a question as you can get” comment was obnoxious, Accenture 1. So I’m going to start there. And then the funny thing to me was your other comment in that post was off the mark. So I’m saying not only were you being obnoxious, you were being unhelpful. If OP really wanted to look at the compensation difference, wouldn’t it be 4% of their current salary? 2% match is actually 4% compensation.

C2 maybe you should take a second to think about this before laughing at someone else. The 2% that OP puts in themselves is not a benefit of the job. They can put the maximum amount allowed at their new job, just like they can now. I, for example, contribute 12% even though Accenture only matches 6%. All that matters when assessing the matching benefit is how much the employer matches...

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