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Bowl Leader
Anyone here tryna go into impact investing?
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Chief
This shouldn’t be news to people but it is.
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Waiting for 401 to vest is only worth it after you've been working 10/15 years. Otherwise the pay rises and experience gained outweigh the gains. You can also usually factor in if not negotiate your 401 into your new package.
if your only reason for staying is the 401k, you’re staying for the wrong reasons.
Bad move for the 401k, your matching funds never get vested
AS1 that depends on the place. IPG has something like that in their contract, but think it expires if you’re gone for more than 3 or 5 years. Can’t remember.
SD1 I’m stupid but curious about what you mean by negotiating your 401. Can you be more specific/give an example?
Take that 401k and roll it into an IRA and keep it moving.
Yes, move around every 2-4 years early in your career. More money, but more importantly more experience and connections. However, as you become more senior, frequent moves become a red flag
completely normal. the 2-3 year itch.
When moving agencies (especially returning to a holding company) - can't you negotiate to pick up where you left off in your 401k? As in, if I worked at a WPP agency for two years and come back, can't I negotiate to become vested after 1 year?
Every year or two? No.
Every two or three years? Sure.
When I see resumes with 1 year stints over and over I assume the person either: doesn’t really know what they want to do, had performance problems at multiple jobs, or isn’t vested in growing with the agency. All red flags
I expect it from junior people, it’s SOP. Once you start to hit mid-career stride though then it becomes a red flag.
BA Manager - is there a benefit of doing that if you already have an existing IRA?
I don’t hire people who move that often for my team