538
‘I’m proud of being a job hopper’: Seattle engineer’s post about company loyalty goes viral
(www.geekwire.com)
this post was submitted on 22 Feb 2024
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You can't match your own contributions, though.
I've never seen a place that matches as much as a new job would pay.
I had one job where the company gave annual 401k lump sums based on profit. Some of those deposits were upwards of $20k. No company before or since has boosted my 401k so much.
If the new company also matches, it'll probably make you more money than staying, because the max match is reset. If you really game it you might max out the match for both companies in the same year.
Often times the 'match' isn't matched fully until you've been an employee for x years. Ask your HR department about their vesting schedule! 🤓
Well.... yeah. That's how they use benefits to encourage loyalty.
When I hit 5 years, I vest and my employer begins double-matching, including retroactive contributions. I put in 7%, so in another 2 trays they'll put 70% of my annual salary into my retirement all at once.
It heavily encourages loyalty because it's genuinely a great benefit. I have no problem with that.
I work for money, and the reward for loyalty is more money.
Beats the hell out of a pizza party.
It's only up to 6% though.
It's still free money. Between maxing that ans espp, I basically got a free $16k last year.
Yeah it's free money but it's not as much as what grandfather would have gotten in his pension
Spot on.