Related Posts
Anyone willing to give a referral to Microsoft?
More Posts
My body is ready....for analog gaming
Do you get any diwali gift or bonus? :)
Additional Posts in Consulting
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
Very common. Deloitte does a similar schedule.
PwC2 - Both the 401k match and wealth builder are on the same vesting period.
Your contributions are yours, of course, whenever you leave
Rising Star
Hi future ZSer :)
Thanks all. It's not 100% vested until yr 5 which right now seems so far off
This is a super basic example that does not account for interest etc. but say you contribute $10k a year and company match is $5k. So at the end of year three you have $30k of your contributions + $15k of company match. If you leave at the beginning of year four, you’re still going to hold or rollover $39k instead of the full $45k. It’s not that big of a deal if you leave for another great offer. Don’t stress about 4 years from now when you can still save the money and get a portion matched.
Vesting is common. Typically you only lose % of the company match portion if you leave before the 100% threshold, but any of your own contributions are yours to keep regardless of vesting. You can try to negotiate salary or other things but vesting isn’t usually negotiable because it’s written into the retirement plan administration rules.
You’re not really losing anything unless you leave the company. They still match you throughout the years, you just don’t keep it if you leave.
Most companies I’ve seen do it this way, especially in consulting or sales roles where turnover is higher.