Whats BCG 401k match?

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

None. We don’t do 401(k) match, we just straight up pay into a PSRF account as part of your comp.

like

1. You get more. In your paycheck. Remember how your first day out of MBA you’re making in the top 3% of individual wage earners in the US?
2. Incorrect. You receive a disbursement for any portion of the year that you worked. You absolutely get PSRF for a partial year.
3. If BCG offered 401(k) matching, that would come out of the pool of money available to pay salaries. I’d rather just they gave it to me, which is what they do, than offer a match. Enough people felt this way that we stopped offering a match years ago and went to our current pay plan.

likehelpful

5% of all comp for Consultants and below, 10% for Project Leaders and Principals

like

2.3%

Gotcha, what are those terms then?

Hmmm surprising. We generally have 10% year end profit sharing for all levels into 401k plus the standard 25% of first 6% 401k match.

Yeah it's not great

It's not great for a couple reasons.
1. 5% is very average. At a firm like BCG, I'd expect more.
2. Time value of money. Receiving the money all at once means you miss out on gains throughout the year (no dollar cost averaging). A dollar today is more valuable than a dollar tomorrow, and BCG gives you all those dollars after the end of the fiscal year, which means it's all tomorrow. Also, if you leave before Feb 15 each year, you miss out on everything.
3. Not sure what you're saying about being given the cash. You're asking why it's bad and also saying you'd rather just being given the cash (which is what we don't get)?

@BCG1, I think you missed BCG3's point regarding #2. He meant that on average the sooner the money is put in, the more it will grow (ie if it's put in through the year, that's better than at the end of the year, or a month after in our case). That being said, it's very minimal, and we're very, very well compensated with great perks. I'll take flying first basically all the time, and no per diems over money being deposited through the year any day

What’s the vesting time on psrf contributions? Cause ATKs is 5 Years with a 2-year cliff meaning there’s a very good chance you get nothing to 40%.

No vesting period- fully vested immediately

Related Posts

I hardly work for more than 30 mins a day in my current project in a small company. It's server monitoring support work and mostly no issues. I have 15 years work exp but still getting only 11 LPA. Should I remain here for wlb or upskill and move up.

likefunny

Hello Everyone,

I have received offer letter from Optum Global Solutions India recently and I am seriously considering joining it(I also have offers from Deloitte USI and Verizon).
My breakup annexure mentions 4 components apart from RRP and PF. Basic, HRA, Flexi, Special Allowance. Either the Special Allowance or the Flexi is not included in the CTC mentioned in offer letter. So I want to understand how the Flexi and Special Allowance are paid monthly. Can someone please help?

like

What would salary estimate be for Protiviti Senior Consultant in Audit and advisory in Philadelphia? Currently in FP&A in banking.

I stopped contributing to my 401K for the last three months in order to pay off credit card debt. I am 28 and have about 68K in my 401K. Was this a smart decision? I want to get out of debt as quickly as possible and I have no student loans or car debt.

like

Hello Fishes . Anyone works for delta here ? I need your help . Want to know about work culture and job security .

like

I recently was let go (in lieu of accepting my two weeks) and I should have received my March expense check by the end of April per the employment agreement (submitted the report April 1, let go before mid April). I have emailed HR but haven't heard anything. I've got a feeling someone at the top is putting a hold on it.

How do I get my money from them? It's a few hundred dollars

Sorry if this isn't the right bowl for this question - I've checked a few.

like

Anyone hiring experienced consultants for a company that has great benefits, WLB, and diverse office culture? Willing to learn any tech needed and can help bridge networks with strong interpersonal skills.

Experienced in Strategic Communications and Learning Development with with a focus on simplifying complex ideas for targeted audiences.

likefunny

Any insight on Chicago’s Jackson Lewis office? Have an interview there soon. Would appreciate any insight on salary, culture, reputation, etc. (4th year attorney)

like

Does anyone have experience negotiating with an EY advisory recruiter, specifically at the Senior level? If so, please DM me - I’d love to hear about your experience (I just received an offer). Thank you in advance!

like

Hi everyone, how is OW in the middle east?

In terms of culture, career progression and projects?

Are their projects more into strategy or how exactly?

like

BCG: What are the steps in the interview process for generalist consulting role for lateral hires. How many rounds, what in each round? If someone who went through the process recently can elaborate, that would be really helpful.

Thanks ☺️

like

Infosys Can I ask for my preferred location if selected for infosys

like

What would you choose? MBB (Digital practice) or Amazon PMT?

Background: T15 MBA student, 7YoE as Mech engineer, long term goal is to climb ladder in Tech, married and have a 2year old

Situation: I have a MBB and Amazon PMT offer for summer internship that I need to choose. MBB comes with FT offer, Amazon PMT will most likely result in return offer. If I go with MBB, I plan to exit to big Tech in 2-3 years. Y1 TC for both will be quite similar (around 230k).

Thank you in advance!

like

Applied to a ton of industries but final offer only from deloitte. While the offer is fantastic for me, I am so torn between wanting to take a job for 60k n staying in one place. Am.i crazy

like

How much are dental office managers making these days in NYC?

like

Hi Fishes. I have requested the hr to revise my Offer letter since the ctc offered was well below what was discussed . Someone from the Talent Team did confirm they are discussing it . Wanted to know how long do they take to come back ? Since today is the last day of accepting the offer , should I just accept this offer and would they still revise it after accepting it ? Kindly help

like

Hi All,
I am feeling lost in job. So I’ve applied for Accounts payable they offered 40k. I said why not to gain some experience. I didn’t even bother negotiating which I regret.
Fast forward I noticed that I was eventually handed everyone’s workload (AR & imports & duty and check coworker work + AP) Spoke to them about pay increase based on workload. So they raised it to 55k.. but I still feel underpaid based on the amt of work I do. I don’t know what my title or what to put on resume..

like

Hello all, I’m on my F1 visa right now. I have two more chances of getting H1 through lottery. After third,Does PwC supports sending me to my LOS in diff country and file me H1 or L1 visa from there?

like

I’m seeing the idea of taxing corporations on GAAP income get thrown around. My initial reaction is that it’s a bad idea but I’m far from an expert, especially with taxation. What does everyone here think?

like

Hi fishes,

Can anyone tell me if infosys promotion is happening as part if retention? Mostly from jl5 to jl6? Did anyone get promotion as part of retention? in infosys?

like

More Posts

Looking for a stylus for older iPad models (non pencil compatible) fit notes taking ... any recommendations ?

like

I’m new to freelancing. Does anyone have any tips/resources to figure out how to do taxes?

like

What percent is set aside for federal?

likehelpful

He busted his ass during busy season only to be fired now. They knew he wasn’t cutting it why wait until after busy season

like

Do we need to submit rent agreement for claiming rent or just rent receipts?

like
like

I’m 52M and looking at divorce with a kid heading to college and one still high school. I agreed to pay for both kids’ college and live a like a pauper for the next 7 years. Any advice?

What to you do when a recruiter emails you about jobs in another city (LA) and asks what you currently make (in Chicago) if you’re greatly underpaid?

Thankful for live performances 🎭 🎤 🎶

Post Photo
like

Hi everyone! Would anyone be willing and able to refer me to a Franklin Templeton associate role?

like

Are you very serious and wish you were less serious or vice versa?

likehelpful

I'm looking for Job in HR Shared Services , Currently working as Manager HR Shared Services in Genpact with 8+ years of experience in Compensation management, Appraisals, Salary planning activities, Annual Bonus activity etc..

Is it worth doing mba from mediocre college with 4+ yrs of job experience?
I can't continue with my job anymore its making me sick

like

How is your experience with MacOS laptops as a SAP Consultant?

I am planning to buy one, most probably Macbook Air M2.

like

11/7 Check In 🙌 Happy Monday! What’s everyone up to today?

likeuplifting

Anyone travel and work from different cities during COVID? Thinking about heading out from the east coast and making our way to the west coast, stopping along the way in bi-weekly/monthly increments until we have to go back into the office.

like
like

Skill - SAP S4 Hana SD

Certified Consultant

YOE - 4

CCTC - 10LPA

How much can I expect with switch?

like

Additional Posts in Consulting

Anyone live at home right after college (while consulting)? Curious as to reasons why/if you feel it was a good idea

like

Just hit diamond with Hilton! Garçon, your freshest bottle of grey poupon your most average of rooms if you please, thank you. 💅

like

Y’all ever look down at your task bar and almost soil yourself when you see your status is red and you’re more than 5 mins past the hour or half hour? Wouldn’t wish it on my worst enemy.

like

Good consulting books? Not talking case prep but a fun read about the industry and what it takes to succeed, etc. Thank you!

like

Anyone here with a negative net worth (excluding 401k) in their 30s? Or am I an outlier?

like

Any recommendations for a mattress? Cheaper the better (although I’d love the Sheraton, I can’t afford $$$$)

like

Need advice and pep talk because I’m certain I have chronic imposter syndrome :( Background on me, I have about 6 years of work experience post college but have gone through many companies because of layoffs and/or reorgs. With that, I’ve bounced a lot with different industries and have done different roles for a year max. My current role is about to be my longest (thank goodness, hitting about 2 years) but I feel like I’m not a SME in anything but I feel embarrassment for myself (Cont.)

likehelpful

With the new one executive order on US visas, trying to read through the fine print to see the impact to existing visa holders. I flew home to Ireland as both my parents were sick (both since recovered a couple months later thankfully). Now waiting for Covid travel restrictions to be lifted so I can return. Reading conflicting updates from multiple sources, can anyone provide guidance? (I have L1-B Visa since last year).

like

Thoughts on CohnReznick - Data Analytics practice

like

Where is the strangest place you've ever take an interview call/ call from a recruiter?

like

Ugh! Got 2 hours left in a 14 hour drive with younger sis. Both of us getting on each other's nerves and I hate road trips. Help fbfam! Anything entertaining? 😔

like

Leaning to move my savings from CapitalOne to GoldmanSachs-Marcus.. 0.2% extra.. guess worth the hassle to move.
Any views on Marcus customer service? Referrals?

like

Anyone heard of “Agile @ Edge” ???

likefunny

Looking for recommendations on a good book/resource on how to manage people, especially when you’re managing teams to achieve tight deadlines and also overall leadership for those teams. Currently on a project with tight regulatory deadlines and feel like I’m struggling to push people without pissing them off. Great learning curve for me and a good read seems timely. TIA!

like

How many credit cards do you have and for what categories??

likehelpful

What are the top client scenarios that require the most coaching? Or, scenarios you wish you received some professional support in prior to it happening?

like

Looking to improve general communication skills (especially around structuring narrative/ key messages), any books/courses that you would recommend?

like

So i have been fortunate that i have managed to go through my career without the need for a degree. I was lucky enough to have been hired by one of the worlds top consulting firms, worked with a whole lot of big clients and travelled a lot. It's gotten to the point where I am not even asked about the lack of a degree on my resume. Personally though, it bothers me. I have a whole bunch of certifications in my industry…but just no formal degree. (cont'd)

like

Best way to study for AWS cloud practitioner certification? (Not very technical but hoping to learn)

like

Why is everyone saying to buy puts when I’m fairly sure everyone has missed the boat on that, unless you locked it in before this week?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal