{ "media_type": "text", "post_content": "How do you feel about your firm's benefits package, on retirement (401K), PTO, parental leave, and health insurance? Curious to see whether and how you think your firm needs to make adjustments.", "post_id": "5c3d34a547f00100183998db", "reply_count": 227, "vote_count": 26, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

How do you feel about your firm's benefits package, on retirement (401K), PTO, parental leave, and health insurance? Curious to see whether and how you think your firm needs to make adjustments.

likesmart
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I think benefits at Booz Allen are just fine and in some cases exceed industry averages. 401(k) match of 100% up to 6% of your salary is not the glory days it once was but is much better than other companies. Healthcare seems to be about the same when compared to other industry large firms but I think it’s useful to compare to other businesses that don’t have the number of employees. In other words, working for a large consulting business likely means we have much better health care and at better rates than many other white-collar professionals. Paid time off is not counted against your billability percentage which is good. The firm keeps adding new tuition benefits and supports a number of internal cyber and data analytics certifications and training experiences. Yes, things have to change and evolve such as the firm no longer paying for the administrative fees associated with our 401(k)s, but who really cares? I think people need to look at the benefits package holistically.

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M3, frankly I think we are talking strictly the administrative fees not the fees for fund management. Charge me $100 in fees to match my 6% contribution all day long

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Seeing a lot of PwCer saying it is bad. Healt insurance has gone down over the 15 years at the firm BUT compare to other industries or large companies it is still better then my friends at FT500. Parental in NJ is sick. Took 6 months fully paid. 401k match is crap but we have a pension...others do not. Bonuses are solid, for performers. I can’t complain. Holidays, unlimited sick for employee and family. Caregiver needs are met. Took care of my mother who had cancer with no questions off on chemo weeks/days. “Oh shit fund” for unexpected daycare covered. That’s amazing. Used it for sitters on weekends, nanny vacations or daycare closures. There is a lot that people don’t tap into. Use the t you will be amazed

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Amaze-balls is the technical term

likefunnyupliftinghelpful

But not in all models

Sub-par would be too kind

likefunnyhelpful

Agreed. Our retirement (WealthBuilder not a big house 401k) is ok...our healthcare is borderline criminal. It’s SO bad

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Poor

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I came from industry, though. Seems like from most posts here and Glassdoor research that industry simply has better benefits

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What’s the opposite of amaze-balls? Ours are that

likefunny

I guess I’m naive to say I’m happy with ours. I’ve been on our insurance for many many years and have never had an issue. I don’t have kids though, but 16 weeks of paid maternity seems generous to me. 401k marching is eh but I’m happy we are compensated well enough that’s I’ve been able to max out my Roth IRA contribution every year

Excellent parental leave and PTO but weak 401k match. Deloitte justifies it by giving you a pension but the pay out is not great unless you stay at the firm for a long time

likefunny

Well the average turnover for a consultant is what...like two years. I'm sure that goes into the vesting calculation. The 401K is definitely weak as is the pension. I get trying to use it as a retention tool but that's a shady way to operate.

Our health insurance is scandalous, 401K is below average, PTO plan is super confusing

likefunny

Tell me about it

ZS 401K vesting periods are a joke, basically makes the 3% match irrelevant if you don’t plan on staying 6 Years (keeping in mind 3% is on the low end of match in the first place)

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Lol @ 3% with vesting requirements. Why do they even bother with the paperwork??

likesmart

Truly amazing. I've been very impressed.

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Of course! Also, NYC has baristas in-office and Chi is getting pour over, nitro taps, and Peloton bikes.

likeupliftingfunny

EY’s 401k is terrible. The rest is about on par.

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Bad, just bad

likefunny

Pwc - great PTO and parental leave. Health insurance is very poor.

likehelpful

We have good parental leave ( unfortunately my kids were born well before I joined) everything else is average to blah

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What would make EY above average in your opinion?

Anyone here saying pwc has good parental leave don’t know the benefits at EY or Deloitte!!

likefunny

I’m in CA and getting about 6 months off fully paid for maternity leave, including STD, parental leave, accrued vacation. That seems pretty good to me! I benefit from the holidays and CA and NJ do get two extra weeks compared to other states (4 weeks before due date vs 2 weeks in most states), but still!

I'm not complaining about EY's benefits 22 vacation / 3 Floating / 10 sick / 10 holidays Extra 4 holidays for Winter and Spring break this year (have to use 6 vacation days during those weeks, however) 1.5% 401(k) match Pension that (back of the envelop) adds 3.5% "match" to retirement $2,500 high-deductible health plan covers 80% for $60/mo (there are lower deductible/higher coverage/$$$ options, I just wanted the tax benefit) $500 annual health/fitness benefit (taxable, however) 16 weeks paid parental leave during first 6 mos for new mom/dad (father can take 2 weeks concurrent with mom, then rest when/if mom returns to work)

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Talking about benefits, why would it not be included?

Good matching 6%, decent PTO, great leave options, good medical and GREAT dental. NO Tuition reimbursement- my only complaint

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there is tuition reimbursement policy last I checked. need to be 8/9 level to qualify

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Bad 401k, good pto and parental leave. Health plan is ok.

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Slalom: laughable at best. Shit PTO, laughable 401k, and prohibitively expensive health insurance for a family. But hey, you can drink the culture koolaid, while getting below industry average raises and bonuses.

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Slalom is a cult

likesmart

Very happy with my health insurance coverage 🙌🏻 Cigna Open Access Plus is free for me, ~$12/month for my husband (who works at PwC). $100 deductible, $1k out of pocket maximum for the year No kids yet, but our family leave policy is very generous. Regardless of what I contribute to my 401-k, McKinsey contributes an equivalent of 12% of my salary each year. Super happy with our benefits overall!

likeuplifting

It was lowered to the 7% for a bunch of roles but I still get the 12% too. I think all internal roles (non client facing?) get the 12% still, though don’t get a bonus.

likesmart

What's that thing Oscar the grouch lives in? Ours are what you'd put in that.

likefunny

Capco — I think ours is great. Really great 401k, good dental/vision, ok medical (a little pricey), and I think PTO is pretty good (better than what I had in past industry job). Unlimited sick days and flexible WFH! Editing to add that I am a newer employee and younger, so not able to speak to parental leave.

likeupliftinghelpful

Agree; the benefits are pretty good, especially the availability of a co-pay plan, in addition to the High Deductible plans which the Healthcare industry is pushing on all Americans. Good training budget per person per year too.

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