Novartis Institutes for Biomedical Research Employee Benefit: 401K Plan | Glassdoor

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Novartis Institutes for Biomedical Research 401K Plan

Updated Sep 06, 2016

28 employees reported this benefit

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Available to US-based employees (Change location)

Employee Comments

Showing 1–7 of 7
  • Jan 22, 2017
    StarStarStarStarStar Current Senior Administrative Assistant in Cambridge, Massachusetts

    You are vested 100% from day one.

  • Oct 20, 2016
    StarStarStarStarStar Current Employee in Cambridge, Massachusetts

    Good: automatic company percent matching as well as additional matching. Bad: nothing,

  • May 19, 2016
    StarStarStarStarStarEmployee

    I receive 11.25% contribution. They give 6% with a yearly contribution of 5.25% for my age. The yearly contribution is more or less dependent on age.

  • May 19, 2016
    StarStarStarStarStarEmployee

    I receive 6% contribution on salary+bonus. I then receive an additional 5.25% that is deposited yearly. The additional match is dependent on age and maxes out at 10%. So if you're older you can be getting a 16% total contribution!

  • Aug 28, 2015
    StarStarStarStarStar Former Scientist I in Cambridge, Massachusetts

    Novartis provides 2% automatically and a 4% match of employee contributions into their 401k. They have also recently started a Roth 401k which offers some diversity for those looking to balance their retirement account tax liabilities.

  • Aug 06, 2015
    StarStarStarStarStar Current Employee in Cambridge, Massachusetts

    Terrible 3 year vesting period for company retirement contributions. Should be illegal

  • Oct 21, 2014
    StarStarStarStarStar Current Scientist I in Cambridge, Massachusetts

    Company match is great. Contribution by employer to 401K in lieu of pension.

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