So KPMG has THE MOST B.S. 401k policy. Apparently the company’s contribution doesn’t vest until 2 years of service and that too 20% of the plan year contribution. And vests completely after 5 years

like
Posting as :
works at
You are currently posting as works at
Highlighted IconHIGHLIGHTED

Ours vests pretty quickly. And we usually get significant profit sharing in the 401k on top of matching and cash bonus.

A2: the maximum rate you can contribute to your 401k is 50%. And Accenture does not allow after tax contributions. You can only contribute $18.5k plus whatever matching, which is well short of the annual IRS contribution limit.

Recent IconRecent

All Big Fours have BS 401k policies lol

likefunny

^how many ppl stay long enough for pension tho

like

I believe KPMG is the only firm which allows after tax contributions up to the full IRS annual limit. That blows all the other firms out of the water by a mile.

like

Don’t like it? Leave.

No? Then, that’s exactly why they are able to continue doing what they’re doing. As a business, it is their job to know just how much they can cheap out and still retain their talent. Once you have built a strong enough name for yourself, people will bite the bullet for the brand name regardless of how much the firm reduces their benefits.

like

401k is only one component...You know we have a pension too right?

Worth considering that against the % of other jobs that include that.

like

C1 - that’s kinda the point isn’t it

helpful

PwC is the same. 6% match on up to 25% of salary and all that vests from year 2 through 5. Really ridiculous

like

ACN 1:1 up to 6. Matching after 1 year and vests on your 2nd yea

like

Accenture FTW here. 6% match fully vested after one year

like

Sincere question - why put after tax dollars in a 401k? I’ve always invested in accounts with greater liquidity - why tie up money without a tax benefit?

like

EY changed their policy to be the same recently. Yeah, 401k sucks.

@SA1 not for people who are classified as non-resident aliens. Not sure if H1B is counted as that tho

That is depressing. I had to verify and op is correct.

Pretty standard compared to other places I’ve worked.

C1 & other KPMGers, How long do you have to be with the firm to get a pension?

Accenture FTL, no after tax contributions, no in-service distributions, max contribution rate of 50%. No thanks.

What do u mean max contributions of 50%? And we do have after tax contributions.

MC1: Pension Vests in ~4 Years

Pension is 100% vested after three years, even if you don't retire with the firm it's yours (can you retire off of it, likely not, but it's money you didn't do anything to get besides work, which you were doing anything) big benefit that a lot of private orgs don't have anymore. 401k isn't the greatest but it's not the worse either. Comparably 401k vesting 100% only after 4/5 years isn't uncommon. We can do better I agree but I also think if you think you have sucky options then leave and go somewhere that gives you the benefits that you're looking for and stop complaining unnecessarily, you knew what the 401k was when you accepted your offer.

Related Posts

Hi Everyone,

I am a recent grad who has gotten sucked into healthcare marketing and though I like it, I dont love it. I’m trying to find a job in something like tourism/ entertainment or an agency job. I feel pretty down that I’m stuck in a field I don’t love. My creativity is also hindered which is why I don’t want to be in this field anymore. I want to let my creativity flow. How can I branch out to another field? Please help

like

New to crypto.. can someone please suggest a good place to read/watch and understand more in cryptocurrency …

Went through couple YouTube videos.. got nothing than confusion !!

like

Home vs education. Which debt is better to take and why?

like

For how long do you typically finance a car? 36mo, 60mo?

like

Anyone not yet using Personal Capital? I have been using it for years and it really helps me stay on top of my finances. If anyone is interested in creating an account, DM me and I can send you a referral code where we both get $20. 😁

like

Would love some input on putting money into house renos, and whether they’ll be worth it in the long run. Thought this would be a good bowl for it.

First time homeowners. We splurged a little on the house and hope to make it a more long-term (10-15 year) place. It needed some upgrades and renovations, the biggest one of which is the kitchen. All in, we’re looking at around 90k for kitchen. It feels like an absurd amount of money, but all 4 quotes we got were around the same ballpark. Thoughts?

like

Is there any way to get a Singapore (+65) SIM card and phone number outside of SG?

Anybody have a mortgage provider they like?

like

Thinking about shorting NIO. Crazyyyyy run in the last 6 months. Wait until earnings come out?

like

What are the best iOS platforms to trade digital currencies? I am US based and am a bit more sophisticated in terms of Order Entry, etc. Coinbase seems pretty basic, since they only allow you to be a price taker and not set orders to buy/sell at specified prices

like

So many VC funds out there how can you tell if they’re a good fund to join if they’re not a big name (a16z, Sequoia, etc)?

like

I read this super interesting article about how big companies like Toyota are investing in social-emotional training for their employees and seeing massive benefits. I actually think this could be a whole separate class for students of all ages. Learning about conflict resolution, growing your own self-regulation skills...it's really important.

likeupliftingsmart

Given the recent stock market slump, are any of you booking losses in this FY to get an advantage in the next year? Whole my overall portfolio is still in green, I have some assets in red, thus thinking if this move is clever.

like

I earn about £3500/month after taxes and pension, am I mad to be paying £1400/month on accommodation and bills?

like

The US tax code section is complex and full of references to other code sections. WHAT IF, JUST WHAT IF, after clicking through all references, you land at the final code section that just says "go f*ck yourself"?

Client - "Hey, we're thinking of doing this one transaction, what is the tax consequence?"
Me - "go f*ck yourself"

funnylikesmart

My own investments are 7.5L in roughly 1.5 working years at ZS as an associate. I'm 23. Is this enough or I need to invest more?
I've also spent 3-4L on things like an iPhone, many big purchases at home as well.

like

What hourly rate should I ask for for a contract AD position (no benefits) at a large tech company in SF? Input is highly appreciated, thank you!

I’m graduating w/ my PhD in March 2023 & interested in the Life Sciences Specialist position at LEK. I know nothing about consulting or business but interested in the business side of biotech, pharma, & healthcare. Suggestions for interview prep for this role?

like

What have y'all done with cards after you got the sign-up bonus, but it just wasn't worth spending more on the card? A few months ago, I cancelled my Marriot Bonvoy card because Bonvoy points are worthless compared to airline points on other cards. Any reason I should have kept it?

like

Hi

Wellbeing Program
Employees will receive a reimbursement of up to INR 10,000 for eligible expenses per calendar year.

What's this program in S&P Global?

More Posts

Hey there!

So that’s the first time I am in a role where I am trusted to chose platforms and services to use, and I am overwhelmed!
I work for a B2B company, and am searching for a platform where I can monitor seo, and manage social media primarily.
I’m obviously looking at hubspot but what other platforms (combined of individual) do you like most?

like

Things you wish someone would have told you before starting a career in marketing?

like

Hi! I’ve worked exclusively in small companies and I want to make a switch to large corporations. I finally have an interview next week and I want to shine.
Any tips on what big companies want to see, or concerns they might have with me not having corporate experience? (It’s an employer branding position, but overall advice is helpful!)

like

When the burn out is real (litigation edition)

Post Photo
likefunny

So much creativity and character!

via @NonEquityPartner on IG

Post Photo
likefunny

Hello Fishes,

A component in the Remuneration structure named "Organisation's contribution towards wellbeing". Could you please help me understand what does it include? Is it subject to reimbursement?

Requesting the fishes to give some clarity on the same.

like

Does LEK sponsor MBAs?

like

I am selected as a Python Developer in Acuity.
Please brief me about your experience in working with Cians Analytics (Acuity), Like how it is to be working with this company, work culture, career growth, work from home policy etc.
Considering this layoff season, shall this opportunity?
Any suggestions or advice will also be appreciated.

Why aren’t the Accenture layoffs garner headlines like when tech companies do it?

likehelpful

Is there a good editing service out there or a peer review place? I’ve got some long-form copy stuff that I am working on for my book. Normally, I’d ask someone in my agency to look it over.

Hi fishes, I have got an offer from HCL State street as part of reconciliation team. Please tell me about how the WLB is and how good is the growth inside the company?

like

Anyone ever wish they had a job where taking a vacation wasn’t just as stressful as not taking one?

like

Has anyone made the switch from corporate law to criminal law ? Feeling very unfulfilled as a corporate specialist in a big law firm and am thinking about pivoting to criminal pd work. Not concerned about finances at this point.

like

I disliked deployment so much. Whenever I talked to my parents, I could hear the pain in their voices thinking this would be our last conversation. Thankfully I’m back home and safe.

like

Any interior architects or designers here?

like

Anyone have success in going in super early (i.e., 6:30ish) and leaving at a decent hour?

like

A question for the guys: was this a date?! Ran into a guy I knew in college at a bar, he technically asked me out (“we should get drinks sometime” etc), then paid for my drink. But as we were saying bye, it felt kinda platonic? Like just a hug and “good seeing you.” Or is he not interested? How often do you kiss on a first date?

like

I am very good at this job. 5 years of top bucket rankings exclusively. All I want to do is get out. I can't imagine doing something this valueless for the rest of my life. Absolutely horrific.

like

So my company has unlimited PTO but I’m wondering how far I can actually take that. Would a three week vacation at a tropical destination be offensive? I just feel like I need the biggest break ever after the past couple of years - I’m sure a lot of you feel me on that.

like

Additional Posts in Consulting

Why does our (western) culture place so much emphasis on high power, fast paced, type a behavior? What industries draw people from other personality types?

like

(1/2)
So today my manager said I was not meeting billing expectations because I overthink my work. He says my reports are good and have a lot of interesting, thoughtful analysis but that it takes too long.

The subtext is that this analysis isn't necessary. I like to think, analyze and then write about it. This is who I am. What I'd really like to do is be a bridge between commercial real estate and data science. I've taken a data science class recently but I'm not a coder by any means CONT'D

like

My CC was stolen while traveling and Cap One wasn’t able to overnight another card. I acknowledge this is a first world problem, but does anyone know which CC companies (and which level card it may require) would overnight a card? Things happen and I’d like to have one where I have that comfort. Thanks all

like

What's the best consulting firms for H1B folks who have studied masters in STEM here? Got a cousin graduating this fall and he needs to know H1B/GC policies.

like

What tricks have you developed to get through tasks more efficiently without sacrificing accuracy? Context: On first proj and struggling to build decks, drafts comms, etc. as quickly as expected...

like

Any tips for getting back to work after a long holiday break?

like

What are some of the learnings you got from business school? (excluding course knowledge obviously)

like

Why aren’t the Accenture layoffs garner headlines like when tech companies do it?

likehelpful