13 Comments
 

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.  

 

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.

 

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