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Received an offer as Engagement Director from Salesforce (CSG, pre sales, L9). Great benefits package, 40% increase in total comp and better WLB.
I do love the people in my practice and current client, but career trajectory has stalled after taking parental leave earlier this year and (yet another) change in leadership.
Realistically, making to Director is 2-3 years away and will require sacrificing time with my family that I am not prepared to give up.
Should I stay or should I go?
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It's 401k... There's no vesting... Once they contribute it's yours. Correct about max 1.5%. The kicker is that the fulll contribution for the fiscal year happens AT ONCE in one lump sum, in May. So if you quit any time before or after, you leave money on the table.
D1: With a 401K the employer contribution vests immediately, but the employer match usually doesn't. I think Deloitte has a 3 year vesting period from the May contribution date, which means in reality up to 4 years.
Nothing to write home about. $0.25 match for first 6%. Effectively 1.5% if you contribute 6%. I think it's a standard 3 year vesting period (maybe effectively 4 years). The excuse is that there's a pension. That, however, does not vest for 5 years or so from hire date, given timings.
Unless they changed in in the past 2 years it was like 50% up to 3% or something like that - worst than Accenture’s.
Oops. That was supposed to say that the *employee* contribution vests immediately (it's your money after all). The *employer* contribution has a vesting period in most cases.
So I guess I'm wrong, the only other company I worked for didn't have a 401k vesting schedule, guess that is generous? So if you do leave before you're vested... What do they take back? Just the absolute value of what was contributed (i.e., you keep any positive return)?
They take back any interest earned from their contributions as well
But real gains? What if you lost money overall?
You get the principal and interest on all your contributions as well as any vested contributions. If there was a net loss, you will have less than the sum of the above. However, in most cases you can leave them in the employer sponsored plan and over time your balance will grow.