I feel this benefit gets overlooked in negotitations and 🍆 measuring contests. What are the 401k plans at all the FAANG companies like? Which one has the best plan?
What is Microsoft
You stole cap1's post.
Fuck cap1! Jk. Didnt see that post
Amazon’s is awful: 50% match of 4%. 2.5-3.5 years to vest (depends time of year you start). Clawback every year for highly compensated employees. No mega backdoor Roth.
are you sure it is not mega back door Roth? I thought it is like a investment company thing... you put in "after tax" and the same day or next day they convert it to 401k Roth.
100% up to $3K or 50% up to $19K. Mega backdoor either in plan with auto conversion or roll out to your own Roth IRA.
An additional detail is that there is no limit on how fast you can receive the company match. I always contribute the 19k on a single shot, using my January bonus, and receive the full 9.5k match.
Microsoft has the same plan.
Salesforce is 100% match up to 6% of pay, capping out at a 5k match per year. 100% vested immediately
Capping out at 5k is not that great. So if my salary is 150k. 6% is 9k. But they will only match up to 5k? I guess it is pretty good policy if you are not in Bay Area/NYC where starting salary is 120k+
It looked so great "Salesforce is 100% match up to 6% of pay," Until the "capping out at a 5k match per year" part... 200k salary matched for 5% is like 10k.
Should include Microsoft
How much is Apple contribution?
Apple’s depends on your tenure. I think it starts off at 3% (50% of your 6%), then after a couple years goes to 4.5% (75% of your 6%), then the full 6% later