6 ms·

This sort of vesting schedule is pretty common. I'm not sure busting Amazon's balls on this one is very genuine.

by jayess 11y ago

deleted 11y ago
[deleted]
icefox 11y ago
> The match of employee contributions into their 401(k) plans is below average and made entirely in Amazon stock, which leaves employees dangerously exposed to the company's fortunes. How about this other aspect of their 401k plan? I have never worked at a company that does that. Being so closely tied to your place of work financially is usually not recommended.
- bpodgursky 11y ago
  My employer matches in company stock too. It's not a big deal, you can exchange it immediately for a portfolio if you want via the 401k management portal (T Rowe Price for me). It's probably just politically easier for the board to issue more shares than to spend cash.
  - s73v3r 11y ago
    But now you've got the added tax implications of having to sell stock right when you get it.
    - bdonlan 11y ago
      It's a 401k, there are no taxes upon sale.
    - pbhinder 11y ago
      It's not the tax that is the problem but the risk that an employee is taking with single company stock in their retirement portfolio.
LoSboccacc 11y ago
Yeah this is only relevant as news if the implementing company also has an habit of firing people at the 34 month mark. I mean, it does suck, but it is what one sign for, so no amount complaining later will change that
rdtsc 11y ago
Is it? I worked for 3 companies. 2 allowed matching right away, other gave a % of the salary every year, but you couldn't contribute yourself.
- sahhhm 11y ago
  It seems fairly common to the point that 401k vesting horizons are something that can be expected. Filtering on "Vesting" against the Bloomberg data, 2 of the top 10 have similar conditions (with MasterCard requiring 4 years instead of 3, though their match is considerably better than Amazon's). Outside of the top 10 there is still a healthy representation of companies that do not immediately vest. Well-funded 401k matching plans that vest immediately certainly help with mobility, for those who care to stick around for the match!
gorena 11y ago
All employers should have their "balls busted", whenever possible. Demand more.
s73v3r 11y ago
I would say busting anyone's balls over that one is genuine. Especially because it sounds like their competition in hiring doesn't do that.

This sort of vesting schedule is pretty common. I'm not sure busting Amazon's balls on this one is very genuine.

by jayess 11y ago

This sort of vesting schedule is pretty common. I'm not sure busting Amazon's balls on this one is very genuine.

deleted 11y ago

[deleted]

icefox 11y ago

> The match of employee contributions into their 401(k) plans is below average and made entirely in Amazon stock, which leaves employees dangerously exposed to the company's fortunes. How about this other aspect of their 401k plan? I have never worked at a company that does that. Being so closely tied to your place of work financially is usually not recommended.

bpodgursky 11y ago
My employer matches in company stock too. It's not a big deal, you can exchange it immediately for a portfolio if you want via the 401k management portal (T Rowe Price for me). It's probably just politically easier for the board to issue more shares than to spend cash.
- s73v3r 11y ago
  But now you've got the added tax implications of having to sell stock right when you get it.
  - bdonlan 11y ago
    It's a 401k, there are no taxes upon sale.
  - pbhinder 11y ago
    It's not the tax that is the problem but the risk that an employee is taking with single company stock in their retirement portfolio.

LoSboccacc 11y ago

Yeah this is only relevant as news if the implementing company also has an habit of firing people at the 34 month mark. I mean, it does suck, but it is what one sign for, so no amount complaining later will change that

rdtsc 11y ago

Is it? I worked for 3 companies. 2 allowed matching right away, other gave a % of the salary every year, but you couldn't contribute yourself.

sahhhm 11y ago
It seems fairly common to the point that 401k vesting horizons are something that can be expected. Filtering on "Vesting" against the Bloomberg data, 2 of the top 10 have similar conditions (with MasterCard requiring 4 years instead of 3, though their match is considerably better than Amazon's). Outside of the top 10 there is still a healthy representation of companies that do not immediately vest. Well-funded 401k matching plans that vest immediately certainly help with mobility, for those who care to stick around for the match!

gorena 11y ago

All employers should have their "balls busted", whenever possible. Demand more.

s73v3r 11y ago

I would say busting anyone's balls over that one is genuine. Especially because it sounds like their competition in hiring doesn't do that.