Age, Salary, Occupation thread 2.0.

110% match up to 6% - O&G, first job out of college

Current job -- healthcare industry
50% match up to 4%
3% annual company pension deposit

We get a profit share into 401k once per year, so not a match. No contribution required.

I have been upping my contrib +1% every Jan 1st.

Portland Ag 95 said:

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Buddy and I where talking FIRE this weekend, he said the company he works for contributes

15% of employees salary to 401K

They also get Profit Sharing and a Bonus every year.

and on top of that, they get 100% Medical for Family.

The company is consistenly in the Top 10 companies to work for in Portland.

Nice package.

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I work for an O&G firm and get something relatively similar to this. It is a demanding job, but they don't slack on compensation.

50% of the 1st 5% so 2.5%.
Large national construction company

6% match. O&G

50% match on the first 6%. Privately held national homebuilder.

Fed govt:

5% match, funded pension, great health care for minimal cost, accrued sick leave never expires and can be used for time served into retirement calculation, 26 days regular leave per year, 11 fed holidays, student loan repayment.

Wut

Shiner Bock said:

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Fed govt:

5% match, funded pension, great health care for minimal cost, accrued sick leave never expires and can be used for time served into retirement calculation, 26 days regular leave per year, 11 fed holidays, student loan repayment.

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And that folks is part of the reason we are in so much debt....

No offense Shiner, great perks, but 26 days off is equal to 5 weeks plus of vacation. Factor in all the rest, especially a pension, and you've got everyone beat IMO

But Gubnent is hard work!

My company has one of the best I've ever heard of. Match 200% of first 4% employee puts in. Also has a profit sharing component that has averaged 10% of total salary + bonus over last 10 years. Equates to about 18% of toal comp which is insane.

Tech Company - Austin TX
Maxes out 401K match at $5000
Profit sharing is about 10% of salary
Also gives RSUs though this number varies

Hudson2508 said:

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My company has one of the best I've ever heard of. Match 200% of first 4% employee puts in. Also has a profit sharing component that has averaged 10% of total salary + bonus over last 10 years. Equates to about 18% of toal comp which is insane.

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What industry?

I'm title 38 so I get a bit more leave than most fed employees

Civil engineering.

100% to first 3% and 50% on next 3%, so 4.5% of 6%. They also contribute 3% of gross salary to 401k annually.

OneNightW said:

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Commercial air transportation. 9% of salary is matched 100% in 401k. Also receive company profit sharing towards a separate retirement account which has averaged about 11% of salary the last couple of years. I'm very fortunate.

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So you say you LUV that deal?

Guppy said:

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Shiner Bock said:

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Fed govt:

5% match, funded pension, great health care for minimal cost, accrued sick leave never expires and can be used for time served into retirement calculation, 26 days regular leave per year, 11 fed holidays, student loan repayment.

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And that folks is part of the reason we are in so much debt....

No offense Shiner, great perks, but 26 days off is equal to 5 weeks plus of vacation. Factor in all the rest, especially a pension, and you've got everyone beat IMO

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I pretty much get these exact same benefits (except the student loan repayment, but I get an annual bonus instead) from a privately held company.

I have 240 hours of vacation plus nine paid holidays (80 of those hours are vacation roll-over, but all employees have the opportunity to do that). Pretty much anyone at my company with 10+ years of service or experience in their field will have the same.

There are a lot of reasons the government is broke, but I don't think federal employee vacation time is one of them.

Hudson2508 said:

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My company has one of the best I've ever heard of. Match 200% of first 4% employee puts in. Also has a profit sharing component that has averaged 10% of total salary + bonus over last 10 years. Equates to about 18% of toal comp which is insane.

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My last job was 25% yearly bonus plus 5% 401k match; My current employer has a fixed 15% profit sharing and ~10%-15% bonus (not a fixed amount).

I wouldn't say 18% total comp is insane.. Slightly above average maybe.

Guppy said:

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Shiner Bock said:

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Fed govt:

5% match, funded pension, great health care for minimal cost, accrued sick leave never expires and can be used for time served into retirement calculation, 26 days regular leave per year, 11 fed holidays, student loan repayment.

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And that folks is part of the reason we are in so much debt....

No offense Shiner, great perks, but 26 days off is equal to 5 weeks plus of vacation. Factor in all the rest, especially a pension, and you've got everyone beat IMO

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My cousin's husband started anadarko recently, he's like 27 and has 25 vacation days & 12 holidays.

I'd guess they have pension too.

4-1 up to 2 percent of your salary and bonus, plus we also have a pension on top of that. Work for a major.

62strat said:

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Guppy said:

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Shiner Bock said:

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Fed govt:

5% match, funded pension, great health care for minimal cost, accrued sick leave never expires and can be used for time served into retirement calculation, 26 days regular leave per year, 11 fed holidays, student loan repayment.

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And that folks is part of the reason we are in so much debt....

No offense Shiner, great perks, but 26 days off is equal to 5 weeks plus of vacation. Factor in all the rest, especially a pension, and you've got everyone beat IMO

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My cousin's husband started anadarko recently, he's like 27 and has 25 vacation days & 12 holidays.

I'd guess they have pension too.

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Yeah, I know a girl who is starting Anadarko soon and she said their PTO is based on work experience, not time at the company. She's coming from another O&G company and she said Anadarko's benefits are better than her old company's, which are already great. She keeps sending me positions to apply for at her old company to see if there's anything that fits my interests/experience, and she said she'll do the same here. Oh God, if it could only happen...

TXTransplant said:

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Guppy said:

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Shiner Bock said:

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Fed govt:

5% match, funded pension, great health care for minimal cost, accrued sick leave never expires and can be used for time served into retirement calculation, 26 days regular leave per year, 11 fed holidays, student loan repayment.

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And that folks is part of the reason we are in so much debt....

No offense Shiner, great perks, but 26 days off is equal to 5 weeks plus of vacation. Factor in all the rest, especially a pension, and you've got everyone beat IMO

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I pretty much get these exact same benefits (except the student loan repayment, but I get an annual bonus instead) from a privately held company.

I have 240 hours of vacation plus nine paid holidays (80 of those hours are vacation roll-over, but all employees have the opportunity to do that). Pretty much anyone at my company with 10+ years of service or experience in their field will have the same.

There are a lot of reasons the government is broke, but I don't think federal employee vacation time is one of them.

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I don't think its the vacation time he was complaining about... the healthcare/pension/student loan payments are. Plus its impossible to get fired.

I think you are mixing 401k (subject of the thread) and regular bonus. The 18% was just my company's match into the 401k. My profit sharing end of year bonus can be up to a 100% of my salary.

So the insane comment was referring to the 18% average match into employee's 401k. Bonus is also an extra incentive on top of that.

Anadarko is based on a total PTO model which means your vacation and sick days are lumped in together. So you could get total 25 days of PTO but that's including sick days as well. Other companies might break it down and give you 20 vacation days and 5 sick days (or more).

The Lost said:

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TXTransplant said:

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Guppy said:

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Shiner Bock said:

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Fed govt:

5% match, funded pension, great health care for minimal cost, accrued sick leave never expires and can be used for time served into retirement calculation, 26 days regular leave per year, 11 fed holidays, student loan repayment.

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And that folks is part of the reason we are in so much debt....

No offense Shiner, great perks, but 26 days off is equal to 5 weeks plus of vacation. Factor in all the rest, especially a pension, and you've got everyone beat IMO

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I pretty much get these exact same benefits (except the student loan repayment, but I get an annual bonus instead) from a privately held company.

I have 240 hours of vacation plus nine paid holidays (80 of those hours are vacation roll-over, but all employees have the opportunity to do that). Pretty much anyone at my company with 10+ years of service or experience in their field will have the same.

There are a lot of reasons the government is broke, but I don't think federal employee vacation time is one of them.

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I don't think its the vacation time he was complaining about... the healthcare/pension/student loan payments are. Plus its impossible to get fired.

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Fair point, and I understood the comment was about more than just vacation. But there are still a lot of companies in the private sector who offer those kinds of benefits - as I said above, I get comparable vacation (my sick leave is totally separate and not lumped in with PTO), 401k matching, a pension, and HDHP insurance that was totally free until this year (I now pay a minimal cost for my dependent) with a $1000 contribution to an HSA. I don't get student loan repayment, but I do get an annual cash bonus.

However, salaries are typically lower for govt jobs (hence the "better" benefits) than what you would get in industry, particularly for skilled professionals. Heck, the salary range for astronauts is only $66k-$144k (GS-11 to GS-14)

I agree it's pretty difficult to get fired from a government job, but it's becoming increasing difficult to get fired from private-sector jobs, too. Layoffs are probably more common, but govt workers have had to deal with furloughs and frozen budgets in recent years.

I just found it a little perplexing that the guy who posted about his govt job got such a negative response. I agree we have a lot of government bloat, but I have no issue with govt employees (especially those with high levels of skill and/or education) getting compensated comparably to someone working in the private sector. I know not all companies are as generous as mine, but what that poster is getting in his govt job is comparable to what many companies still offer (I know pensions have gone by the wayside, but they are still pretty common in my industry). Compensation for govt employees isn't the issue...but maybe the total number of government employees is (particularly at the administrative level). Kind of like school districts and higher ed.

Hudson2508 said:

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I think you are mixing 401k (subject of the thread) and regular bonus. The 18% was just my company's match into the 401k. My profit sharing end of year bonus can be up to a 100% of my salary.

So the insane comment was referring to the 18% average match into employee's 401k. Bonus is also an extra incentive on top of that.

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you said 200% of 4%, then you said 'equates to 18% total comp', which I assumed included the 3 things you listed; 401K, profit sharing, and bonus, since 401k is only 8%.

So yeh, now you've got me confused. So is it 18% into 401k, profit sharing up to 100%?

Also, in all my previous employers, profit sharing was a tax deferred employer contribution into a retirement account (401K or otherwise), not a bonus. A bonus is a check you cash.

#firstworldproblems

It's a bit confusing. There's a guaranteed 200% match of the employees first 4%. The company then has a discretionary 401k contribution based on the profits of the year. It has averaged 10% recently. The 10% is of your total comp for that year (salary and bonus).

Bonus is part of the 401k calculation but a separate payment like you said.

O&G.

Match 5% plus company contribution of 4% so put in 5% and get 14%.

Also offering a post tax IRA option and employee stock purchases quaterly at a 15% discount at closing.

Healthcare, and we match 100% of employee contribution, up to 5% contribution

I'm moving it up to 6% as of January this coming year