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by epsilongreedy 3339 days ago
Is it just me or are their "real" benefits pretty poor?

Health Care: no vision, I assume no dental. 25% copay on the PPO is on the higher end too, no?

401K: Not matching up to max. Certainly not all companies do, but still. I guess it's rare for startups.

Equity pool: (1) What happens on year 6? You don't vest any more equity? (2) This feels to me like it would not reward tenured employees as much. If you joined the company at 10 people and it IPOs at 300, you would be diluted significantly more than if you started with 1-2% of the company and diluted at investment rounds (I know they don't like to take on investor money, but just for comparison)

Seems like if you decide to work at Basecamp, you are trading some "real" benefits for the unique company culture.

3 comments

Matching 401K up to 6% with no vesting period is exceptional.

Yes, paying 25% of the cost of an individual health plan is on the high end for a tech company. However, Basecamp continues to pay 75% of the premium for family plans. Often companies pay for a much lower portion of these expensive plans. It's also a very good health plan with nationwide coverage.

What is the difference between matching and just giving you more salary, which you could put into your 401k? Does it enable you to put even more into your 401k tax free?
You're limited to 18k a year, which many people probably hit.S So extra salary would not help. That's one reason.
Yes, the 401k contribution limit doesn't include what the employer matches.