Fidelity investments Offer
I recently got an offer from Fidelity Investments. Any suggestions on band range? Location: Westlake, TX Level: Senior Software Engineer Grade: L5 Base: 120k Year Bonus: 20% Sign on bonus: 10k Year end profit sharing: 10% Private Equity stocks: 400 shares Current TC: 135k - 4 YOE
OP, can you tell more on private equity shares ? Will you get shares every year ? Or Is it like a onetime bonus ?
It is a one time payment at the end of two years when it vests.
We are stack ranking, and have 5 levels. About 15-20% in the top category, very few in the bottom. Top category definitely gets shares, the 2nd category likely gets shares (>50%). Unlikely to get shares if you are not in the top 2 category. And yes, cliff vest after 2 years
Pretty good offer. I joined not too long ago at 115k base, everything else the same (L5 senior engineer). One thing to keep in mind: Everything Fidelity promises in terms of 401k & sharing comes on a ‘schedule’ Not eligible for 401k match for first year. After 12 months you’ll be eligible, but any company match has a similar vesting schedule to RSUs (20% vested after 1yr, 40% after 2, etc) so you won’t be 100% vested immediately. Profit sharing isn’t available until the beginning of the fiscal year after you have worked for 12 months (so if you start now, you won’t be eligible til 2024). Just a few things to take into account. I’m leaving soon to go to a diff company, and realized on the way out how mediocre Fidelity’s offer actually was. They hide it under the guise of being ‘industry-leading’. My last company before Fidelity & this new one both offered 401k match with 100% vesting on day 1.
Not 12 months, but 1000 hrs / 25 weeks a given year. So joining now is on the verge of not qualifying for 2022, but will be eligible at the end of 2023, unless you took a big chunk of unpaid leave in 2023. But if you joined late June, you'd definitely be eligible for that year. And yes, 401k match is vested in 20% increment, and only become fully vested after 5 years, but want to clarify that it's only tied to how long you are with the company, not when the match was issued. i.e. after 5 years, everything is vested immediately
Which is the new one?
Private equity stocks? I didn’t know they have it at L5. They don’t offer it for L4.
I got a similar offer for L5, west lake , 4 YOE but with no sign on and equity stocks
What’s your base ? Are you converting from contract to full time or a new hire ?
@op Difference between year end profit shearing/ year bonus/stocks ? Do you get 10% of what as profit shearing can you help me understand Thanks
Good offer with 4yoe
Year end sharing guaranteed? Bonus guaranteed? Please help in calculating
Is that not a guarantee if mentioned during the initial offer call? I will have to confirm that with them.
Year end sharing guaranteed for everyone every year. Bonus is base * 20% * company perf (95% or more for the past couple of years) * personal perf (median 90%, max 120%, min 60%)