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Hi fishes, I have got an offer from ZS as Decision analytics consultant in forecasting pod ... i understand in healthcare domain ZS is a good brand.. i wanna understand what kind of projects can i expect there ? does ZS sponsor mba for consultants / managers ? what kind of future growth is there ? ( not only inside the organization but in future as well ) ZS Associates ZS Associates
What are the benefits like at Rsm? Senior here
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Anyone else find James Dimon kinda sexy?
Those in FDD, why do you like it?
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This is called a profit sharing or safe harbor contribution and is great for employees especially those at lower levels or with kids that may not be able to save as much at the moment. Now they aren’t missing out on the employer contribution. I wish more companies would do this. They should give a tax credit of some sort to entice companies to do this.
Agree that it’s good for folks who have other commitments and can’t start saving early on. Also, the change from 5 year vesting to 3 is super helpful in a time when people move around every few years.
This sounds similar to PwC “WealthBuilder” plan. It’s a set % of your salary between 3% associate up to 8% at MD that automatically gets added to an investment account. Vests over 5 year schedule. They still do the 1.5% 401k match that is effectively a rounding error. But it all adds up, if you’re a manager, you’re getting 5% WB, 6% 401k to earn match and the 1.5% match itself for a total 12.5% without even thinking. It’s a good starting point and if you only did that a stuck around for 5-6 years, you should leave with a good starting retirement account of 100k before 30.
It’s slightly better, yes, until to hit MD which is such a small population it’s irrelevant imo. At manager you put in 6% and you’d have have 12.5% going in, so a net firm contribution of 6.5%. In the end it doesn’t matter to me. I try and hit the 58k limit between wealth builder, 401k contributions and matches and just factor the 6.5% into my TC amount.
I know this is being trumpeted as some sort of massive benefit increase, but it’s really just moving the pension contributions over to a 401k. Almost everyone was getting 5% between the 401k match and the pension contribution and more tenured members were getting 6% or more. That’s fine and I’m not upset or anything, but let’s not make this some huge benefit increase. Probably costs less than what they were doing before after eliminating pension risk and closing new entrants to the pension plan.
It may not be huge benefits to folks who have been here for long time but definitely a big benefit to new folks especially those who could not save early on due to whatever reason. Now the firm will contribute 6% once they are eligible. Also, the cut down to vesting time will be a big impact. A lot of folks only plan to be in PA for 3 to 4 years and for that reason tried not contribute anything because they knew they will not vest but seeing the vesting time at 3 years, more people would be willing to start investing earlier or at least there would be something in their retirement account if they leave after 3 years.
That's great! How many years of service until the 8 percent kicks in? Do you still have a pension contribution or did they do away with that?
Cool, very helpful. EY's pension makes it closer to even. As of my 6th year of service, I'm at 3 percent 401k, 3.25 percent pension. Obviously pension may not grow as quickly but figure I will roll it over to get a few decades of similar growth. Still, good on KPMG. Definitely good for people who may not stay around as long. Surprised they want to incentivize that.
You get 8% when you are an MD or been with firm for super long but I think most client facing folks be MD before the age/years of service makes you eligible for 8%.