Given that Amazon match is 50% of max 4%, I’m curious how much other amazon employees are able to save ? I’ll start - SDE2, 2 YOE, 27k “Amazon 401(k) Plan For every $1 of employee contribution you make (up to 4% of your eligible pay), Amazon will contribute $0.50 to your account in the form of matching contributions. You can get up to a 2% match. Note: Catch-up contributions are not matched.”
You forgot to mention that the match vests after 3 years. So in your 2 yoe, amazon hasn’t contributed a penny
They are cheap in that sense
So nobody is bold enough to post 😃
Wow that's a pretty shitty 401k plan.. Coming from one of the FAANG. It's almost shameful.
Saved 60k 401k in 4 years
Finally. What %age are you putting for 401k
Shouldn't you put the max allowed (4%)? That's 50% cumulative return over 3 years(because it vests in 3 years). Annualized return : 14.47%. that's better than stock market. Also, this is one of the very few ways to get your money into a tax advantaged account.
Damn, that’s stingy. Wonder why folks choose them over other FAANG. Or frankly most Bay Area companies. Is MSFT that stingy?
Msft matches 50 cents for every dollar upto the IRS defined limit. So you can put max 19.5k as per IRS, and Microsoft will match 50% of that. And there is no vesting bullshit. If you want you could front load all your contributions in first few months and Microsoft will match early as well. Wondering if any company matches dollar to dollar. That will be next best thing :)
Dang, I need to move to Microsoft!
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Thats less. My no name company matches 3%. Are you sure its not 50% of 8%, so upto 4%
It also takes a few years to vest
It's 50% of 4, so upto 2%