I’ve been around to a few different shops and have always been surprised by how bad and sometimes nonexistent the 401k match is at MM HFS. Can we get a thread going to see what is market out there?
| +18 | Final round HF process - is it weird to send another idea? | 9 | 2m |
| +12 | SF HF Roles | 7 | 1h |
| +6 | Next cooked MM? | 1 | 1d |
| +4 | Kinetic Partners? | 1 | 6d |
| Minimum GPA for Hedgefund Roles? | 3 | 1d | |
| +3 | del | 3 | 2d |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
I think they've been discretionary at every MMHF I've worked
So in good years they'll send some mail EOY that they are doing some LOW single digit % match for the year. Probably base only. Possibly capped. Probably vesting over multiple years or ineligible for first X years.
And in bad years, no email because no match.
One I remember specifics on was about 3% of base-only, with 2 year vesting.
So say you join a pod, survive 5 years, everything goes right at firm level and maybe you walk away with $20~25k of employee match that is fully vested over the entire 5 year period when you leave. Comparable to the free lunch benefit at best.
You missed out how you walk away with a 20m signing from Baly too so all’s well
Zero 401k match at my hedge fund, but it's not a multi manager
With the insanely high comp at hedge funds, a 401k match is like a rounding error, so why does it irk you?
lol who is it a bigger rounding error for?
yep. i don't get why they don't max this stuff. costs them virtually the same, and 50% more valuable to me.
More money >>> less money
No other high paying industry offers such miserable benefits / perks.
I'm shocked you're all saying your fund doesn't have a match, cause that hasn't been my experience at all. I've worked at 5 different HFs and prop shops, and every single one of them 100% matched my 401k contributions. Some of them called it "profit sharing" or something instead of a "match" and I don't recall if it was technically discretionary or guaranteed; but I don't recall a single year of not getting it.
5 hedge funds? Actual HFs not asset managers or mutual funds? I've never heard someone get 100% match (though I'm sure some offer it)
Necessitatibus id sint rerum. Voluptatem architecto aut ipsa quisquam. Praesentium nihil nostrum maxime commodi consequatur omnis ullam.
Debitis voluptas dolorum molestiae nobis consequuntur. Qui dolorem et aut est voluptatem et. Et nobis similique totam est in tenetur.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...