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Vesting options on your 401(k) are common. For example, my company does it like this: First year - no company 401(k) contributions. Second year - full 401(k)
by __z 11y ago
Vesting options on your 401(k) are common. For example, my company does it like this:
First year - no company 401(k) contributions.
Second year - full 401(k) contributions but 25% vestment. That means you get the money in your account (and it compounds) but if you leave before you hit your third year you only get to ultimately keep 25% of the money they contributed.
Third year - 50% vested.
Fourth year - 75% vested.
fifth year - 100% vested. Money is all yours.
(I think vested is the right word, correct me if I'm wrong)
Also, I worked for a company (in a non-technical position) where they initially hired at a low rate. You learned your job as you went and each job milestone had a test (written and practical). Passing the test netted a large increase in salary. You could learn other jobs other than the one you were hired for and increase your salary even more. It was a great system.
- jackmaney 11y agoNo, "vested" is exactly the right word for this.