| Topic Name: |
Accenture pension plan |
| Message Name: |
Current Pension |
| Date Posted: |
01/10/2006 |
| In Reply To: |
The old pension was strictly for AP/Ptr level people. People generally quit at the consultant or junior manager level. Once you got to middle management (AP or first level Ptr), you normally would stay on for the big bucks (this was the pre-IPO days, keep in mind -- the big bucks for making Ptr no longer exists unless you make it to senior or executive management, and that's the same as it is at any large company).
Today, Accenture offers us a 401(K) plan which is generous, but people under Ptr never were offered pensions plans (at least not defined benefit plans). Anyway, most companies are switching to defined contribution plans like 401(K) plans and dropping defined benefit pension plans. There's no profit in it.
The exact words I heard at a community meeting was, "no one retires out of Andersen Cons at the manager or consultant level." What that meant was, most people don't spend a lot of time here except Partner level (remember, this was back at AC when it was a partnership |
| Message: |
TravlnGal,
So what is the current pension plan? I am being hired at Manager level (M1) and I am told that I am eligible for pension plan. Can you provide me with some details? I know IBM just announced last week that they are phasing out pension starting 2008. One of my friend who use to work for IBM BCS think they (IBM) will do dollar for dollar match on 401(k) instead of 50 cents on the dollar (upto 6% of the salary). I would guess that Accenture might be looking into this already..
2) What are typical Variable Pay percentage (especially for last 2 years when the market has been stabilizing) for M1 level?
3) What are typical profit sharing at this level (that goes into 401k from the company)?
4) Lastly, what kind of raises are people (especially M1) given the last 2 years, I know it varies but I am just looking for typical range.
Thanks for the insights.
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