Hey folks, I am at final stages for external hire to PPMD at D, EY and PwC right now. Before I spend too much time chasing all 3, would love to get an opinion on pensions. I am hearing structures that are conflicting across sources. Can you tell me which one is correct?

1. TOP 5 years salary averaged out, and then 30-40% of avg paid per year.

2. LAST 3 years salary avg, and then 50% of avg paid per yr.

3. 100% of avg of LAST 2 years salary avg.

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You're in final stages at all three?! That's super impressive!
I have zero valuable insight on this but had to say congrats. I recently submitted applications to all 3 and am just anxiously waiting now!

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Best of luck!

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Couldn’t cut it at KPMG, huh?

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Lol. They don't know I exist. I was headhunted by the other 3.

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Are you able to ask the firms when they present the offers? I ask because I’ve heard a 4th option...so the firm and your offer will be the best source.

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Yes. But I am drowning in interview hell. I want to cut at least one out if I can.

You could also Check Glassdoor and read comments. They usually have information like this.

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You missed the boat on the EY Tophat policy, so I’d remove them.

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Can you explain please?

I’m sure they all have different pension plans and policies. I would talk to the hiring manager at each place. And also, difference between partner principal and MD. Which one will you be?

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Principal at last 2, option for MD or P at D.

Sorry. On #3, 100% of avg of last 2 years salary. Ignore the second avg.

Ours depends on P or MD and it changed recently. For P it used to be like 1 but more like 25%.

I thought the pension was only for partners? I thought MDs are still considered “employees of the firm” so they’re on the same plan the staff are on? Also, I’ve heard 50% of the average of your high three pretty consistently. But agree with others that HR should be able to address

They’ll fire you once you can’t produce so don’t get caught up into fantasyland retirement nonsense that you’ll never see.

What level at EY?

VP OP P pension @EY is no longer a final comp calculation - instead it’s a straight cash amount every year into a pension fund plus your 401k

final pension is annual amount x years of service.

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I didn’t realize any firm still offered pensions. Sounds nice.

It depends. B4 pensions are only for partners, not MDs. Different firms have different models. You need to get specific details from each of the firms, including vesting periods .

Same with EY

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