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I am currently pursuing a position to be a 401k workplace planning consultant with Fidelity Investments. I would like to connect with someone who has gone through that training and early hiring process to make sure I have a solid understanding of the position. This is specifically for the Raleigh/Durham NC area if possible.
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When we say TC in NA we usually only include base, any bonuses (performance, commission, sign on, etc) and stock if applicable
There's a couple schools of thought. Some just include salary+bonus (+RSUs, but MBB doesn't have those), others also include 401k match/profit share, depending on vesting etc considerations.
Generally we wouldn't factor in other benefits like insurance, perks, PTO etc. It's just too complicated to value, too small to matter, and/or just a wash between employers/roles. This goes for mobile plans, gym etc.
In my EU home country I definitely wouldn't factor in social security contributions or pension, because neither of them is my money that I can do whatever I want with. Retirement is structured differently in the US and 401k really is my money here.
All of this being said, comparing TCs is useful for comparing positions within one system or geography (eg, US or Western Europe). I don't think your cross-geo comparison will prove very useful because the systems are too different.
Pro
Don’t forget tax rate. Income tax is quite high for high earners in the US.
And adjust for cost of living
Base + bonus + retirement contribution is the formula for TC.
That’s how MBB does it, but tech excluded retirement and includes equity