Companies see experience as expensive and hire cheap, low-skill replacements. Even those who manage to land something end up with pay that's usually way lower than what EJ offered. The dedication and quality work people used to bring doesn’t matter anymore. This makes me petrified of being laid off.
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@165 No where did the contributor imply the 401k was the only contribution. Are you a CNN reporter?
@11y the 401k match is only $500 but it’s not the company’s only contribution. They also make a profit sharing contribution which in the 4 years I’ve been here has been very competitive with the matching in other plans (if not better). It’s not guaranteed but implying the match is the only company contribution to the 401k is misleading.
@dd If you took a 20% paycut leaving EJ, you're now paid 40% less than industry standard. Congrats.
The new pension...Come work a lifetime, then out of the blue you get 6 months of unemployment payments in return. "You don't need a union, the company will take care of you."
The 401k match (up to $500) a year is amazing. Said no one.
OP, you are spot on. I left for greener pastures. All in took a 20% paycut for the same job at another large firm. EJ bonuses are nearly unheard of elsewhere. The move was still worth it for peace of mind.
I have seen some job postings paying more than Jones. I have always known it but was afraid to leave. VSP was the best thing for me.
@OP , EJ is not paying what others are doing in the same industry. They never had nor will they ever be up to "market" standards.
EJ about $10-15k less for same job elsewhere.
Skill up best you can while at EJ. You can make a difference for yourself. Best!