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Amazon's 401k plan is terrible when compared to competing companies. I cancelled my Amazon interview the second I saw the terms of it. I had to find the details
by w0mbat 6y ago
Amazon's 401k plan is terrible when compared to competing companies. I cancelled my Amazon interview the second I saw the terms of it. I had to find the details for myself because the info packet the recruiter sent me, conveniently left out any details except that there was a 401k plan and some matching.
Only 50% match, and the maximum match they will pay is 2% of salary. (Competitors match 1:1, high or no limit).
Three years vesting on the match. (Immediate vesting elsewhere, e.g. Google).
No match on catch-up contributions. (WTF? Naked age discrimination as policy?)
Source: https://www.amazon.jobs/en/landing_pages/benefitsoverview-us https://www.amazon.jobs/en/landing_pages/benefitsoverview-us
- sikim 6y agoThis might be helpful to you http://perks.guide/ http://perks.guide/
- supersimp 6y agoIs this accurate? I definitely do a mega backdoor roth and I'm at Amazon.
- ikRwS3Nb6Y 6y agoIt was accurate until this year - Amazon switched 401k providers from Vanguard to Fidelity. I don't remember all the details but after tax contributions (which are required for doing a mega backdoor) are possible now, but weren't before.
- bougiefever 6y agoYea, that is not very good for such a wealthy company. Other companies match up to the max allowable with no vesting period.