I’ve been working at my current, stable, satisfactory job for 4 years and 4 months. I’m not vested in my employer retirement contributions until Aug 2021. I currently make 70k. From date of hire to present, I have contributed about 17.5k to retirement plan, employer has contributed about 20k to retirement plan, and the account in total has grown about 12.5k for a total of 50k currently. I contribute 6% of my salary, and my employer contributes 6.3% of my salary. I’m 35 years old and have an additional 20k-ish from previous 401k’s, and my husband has similar accounts from his current and former employers.
This week I was offered a very promising opportunity at another firm, with starting salary “in the 90k range”, and 8% matching vested after 5 years. Benefits, insurance, leave, etc are comparable to current employer. Added bonus is that the new position is a huge jump in title, exposure, training, and experience.
If I take this new job, can you guys help me calculate how much I stand to lose from my current retirement, and how long it will take me (ballpark) to recoup that loss? I intend to discuss this loss in my final interview as I am comfortable where I’m at, and if the new company wants me badly enough, I’d like to ask for a signing bonus or a salary high enough to offset the loss of walking away from the vested retirement I could see in 8 months. What would you guys do in my situation?
Edit: thank you so much for the helpful comments so far!! To add additional info, my current employer offers all-or-nothing vesting at 5 years, not a gradual increase to full amount at 5.
Submitted December 16, 2020 at 10:30PM by thatoneblondgirl https://ift.tt/3nthnJ1
