Experienced hire here, and just realized the 401k company match apparently has 3 year vesting. So if I leave after 2.9 years all of the company match gets clawed back, resulting in a 0% 401k match? WTF. 401k match isn't a cash bonus or stock options, it's a basic part of compensation. If this is true, need to start looking for a job either now, or only after 3 years.
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They don’t have any kind of orientation. I also did not know this. Nor was it ever communicated while negotiating my salary. You’re not the first to realize this. Infuriating.
Op, do us all a favor and just leave now if you are concerned about vesting in 3 years. And should you stay until that 3 year anniversary, I hope you enjoy your PIP activities for the last 2 years. Your kind are way too easy to pick out.
Wine you know why so many people quit at the 3 and 5 year mark
Pretty standard in the US for this to be the policy.
No complaints just do your time and leave. Three years is better than 20 to retirement.
Lots of things to complain about at exxon. This isn't one of them
Guess we don’t hire the best and brightest
What, organizations incentive against annual job-hopping? Who would have thought...
Are you sure you're not a college hire? Literally almost every company has a vesting period
If you just figured that out now, please leave…
duh
A 3 year vesting period for the company match on 401k is not uncommon. I had that at my last company.
Sorry to hear that but it's your fault, both 401K and pension vesting are negotiable when you started. I was experienced hire when I joined and in my case, both vested immediately, no waiting. I left the toxicity of this place though.
It should be a prorated match. After one year you get 33%, after two years 66% and so on. You should not leave before 3 years anyway because it shows stability.
Yep. That’s how it works. And pension vests after 5 years.