Related Posts
Pro
Pro
Can you still make money off of crypto?
More Posts
Rising Star
Additional Posts in Consulting
Salary bump for S&O sc-> M rated 2?
Has anyone bought an X-Chair office chair?
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
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.
All Big Fours have BS 401k policies lol
^how many ppl stay long enough for pension tho
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.
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.
401k is only one component...You know we have a pension too right?
Worth considering that against the % of other jobs that include that.
C1 - that’s kinda the point isn’t it
PwC is the same. 6% match on up to 25% of salary and all that vests from year 2 through 5. Really ridiculous
ACN 1:1 up to 6. Matching after 1 year and vests on your 2nd yea
Accenture FTW here. 6% match fully vested after one year
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?
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.