I'm moving from a large global bank with tens of thousands of employees to a MM PE fund with 30sih employees. Should I be expecting the benefits (i.e., health insurance, 401K offerings / match, etc.) to be significantly worse given that the company is smaller? Haven't seen any posts on this. Intuitively, I would think yes
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Indeed, especially with things like flights/meals and getaways etc.
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Lol I'm in the same situation and I've barely thought about this.... I think a bunch of this stuff is outsourced now, so it shouldn't be a huge step down (esp. healthcare and 401k). Still, can anyone in similar situations in the past explain how this works?
The lesson here is that you should generally be asking about benefits before you accept a new job.
The answer is that it could go either way. For things like health insurance, a small company has little room to negotiate premiums down so the per person cost is going to be higher than it would at a bank. Some companies will eat that cost themselves and others will let you fend for yourself. The same applies for most other benefits. Firms will usually partner with a TriNet or ADP and plug into some standard outsourced benefits package.
Given a 30 person company is probably closely held by a few founders, your expense policy, insurance subsidy, and 401k will be a function of how generous they are.
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