Is this a fair deal? - Saab General Bulletin Board - Saabnet.com
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Is this a fair deal?
Posted by SaabSpeeed (more from SaabSpeeed) on Wed, 21 Dec 2005 20:32:18
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I'm negotiating a salary increase. Small business, NYC, accounting firm in a specialized niche. My boss countered with a low offer noting that he contributes 9% of my salary into a Defined Contribution plan. It vests in three years which is nice, I have two to go before I can take it with me. Honestly, I was not aware of this perk and asked for a larger raise claiming "no pension plan present in my pacakge". I told him I have to run the numbers and will get back to him.
I asked for a raise of $X dollars. He is proposing a raise of $(X-9%) but that 9% (calculated at each year end) is being set aside in my pension account. I'm young and need every damn dollar I can get at this point in my career but the missing 9% percent is still being given to me, albeit in a deffered account.
I dont have experience in the work place, I went from school to this small firm. Is this a fair deal? Seems so, if I have a 401(k) that matches I would get my raise of $X but would have to effectively set aside 5% and have the other 5% matched...so if the same offer were presented with a matching 401k I would still have $X-5% monthly income after retirement deductions.
Thanks for staying with me. How common are 401(k) matching plans in small firms? or 9% of salary vesting in 3 year defined contribution plans..
Regards,
Tom
posted by 69.112.12...
Posts in this Thread:
- Is this a fair deal?, SaabSpeeed, Wed, 21 Dec 2005 20:32:18 <-- Viewing This Message
- one detail, Erik, Thu, 22 Dec 2005 09:20:33
- No!, SaabSpeeed, Thu, 22 Dec 2005 10:00:57
- Re: Is this a fair deal?, AlS, Thu, 22 Dec 2005 08:59:28
- Negotiate a bit, but as you noted, Noel, Thu, 22 Dec 2005 06:09:56
- I am looking for, NickR, Thu, 22 Dec 2005 04:41:24
- Re: Is this a fair deal?, steve, Wed, 21 Dec 2005 22:29:23
- Further, SaabSpeeed, Wed, 21 Dec 2005 20:38:46
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