As far as I understand, Fidelity starts contributing dollar-to-dollar for first 7% of your salary. This starts after 1 year. I’m confused about the 1% increase per year maxing out at 15%. What does this mean? Is this Fidelity’s contribution? Does this mean that from 10th year onwards, if an employee is contributing 15%, fidelity will match all of these dollar-to-dollar? Can fidelity employees please help clear my confusion. I have a standing offer from Fidelity and I want to understand all the benifits. #fidelity #fidelityinvestments #personal finance
What’s your offer like? If you don’t mind sharing
YOE:4 Location: Dallas Base: 110 Bonus: 15% And then usual 7% 401k and 10% profit sharing No sign on no relocation nothing Is this a decent offer? What is the higher end of L4 for Dallas Location And how quickly can I get promoted to L5 Because a lot of people I talked to got L5 with 4 YOE, but sadly, I did not
Might be worth noting that you may or may not see much salary increase at the end of the year since you’re already at the high end of L4 base
I think it’s a strong offer for L4, and promotion all depends on the team and your performance. However I feel like L4 -> L5 is very doable in the near-term. Worst case apply internally. And yeah the auto contribution is not really a benefit more just an easy way to automate your contributions if you so choose. And the profit sharing is always 10%. You would get the first annual profit share beginning of 2026. Any company contributions (7% match, 10% profit share) fully vest after 5 years of vesting service.
Nah that’s your own contribution, they have a program where it auto increases your elected contribution each year by 1% up to when it gets to 15%. Useless benefit lol
How does this even count as a benefit? One can contribute as much as he likes, i.e more that 15% of his salary, as long as the contribution are within annual limits I’m confused to why does fidelity even advertises this as a benefit?
They also contribute 10% of your base + bonus to your 401k