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Hi fishes,
I have 4.5 years of experience in .net and angular in cognizant I'm working I got call from Genpact but In Genpact they are asking me join as lead consultant is it normal software engineer position or what any idea ..for only 4.5exp is it sufficient for lead consultant position.. firstly what is the responsibilities for lead consultant in GenpactGenpact
Is thr wfh opening in bangalore location???
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7% match plus 10% profit sharing into 401k.
Absolutely I’d factor that in if I was looking at external jobs.
My employer is toward the lower end of the generosity scale, you might say. I appreciate what they do, but it could be better. If I was seriously considering another job it's definitely something I'd pay attention to. I've come to realize that it can matter, and hey, it's essentially free money.
Rising Star
3–6% match is common, but it compounds over time, especially with vesting. I factor it in, but not over growth and base upside. A strong match won’t offset a flat career path.
First find out what the vestment period is…because if you leave or get laid off before your vestment date, you will lose whatever they contributed and taxed on your contributions if you withdraw your funds early. Or, your money will be locked in a 401k and will fluctuate based on the market. If you like investing in the market, you can open your own and rollover to avoid the early withdrawal penalties and taxes. This is why some people advise investing on your own as the days of being in a job 20+ years (to reinvest your salary and see that company through several economic cycles) is no longer a standard. Here’s the elephant in the room: When considering how to cut overhead, the company’s payout (their matching contributions and their stocks) are also factored into the decisions. (Last in, first out). A C&B Director once spilled her strategy (how and when to force newly hired and top talented engineers/scientists to quit and avoid the 3 year vestment mark). I watched her pick her targets, shift their responsibilities and goals, micromanage with no clear objective, diminish any accomplishments or positive feedback, create layered reporting structures and accountability with peers, and then go silent all over a period of 2-3 months. The targets were then presented a vague PIP by their HR manager, and told “you don’t really want to work through this plan, do you? It’s going to be unbearable. You could simply resign. Either way, we really need your decision by March 15th.” Each year, this strategy saves the CEO and Board millions of dollars. They hire experts, (expensive talent), harvest their intellectual capital and labor in the first two years, and PIP/RIF them before the vestment period.
For me vesting timeline is more important than the match, but I would say the company contribution is something I put medium weight on (highest weight is probably benefit premium payments and overall salary).