543
‘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
543 points (95.9% liked)
Technology
58343 readers
4541 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
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.