Your Amazon Benefits & Career: Financial Planning for Employees and Executives

Do you work at Amazon? Get the resources you need and expert insights from financial professionals who specialize in helping Amazon employees make the most of their compensation package and benefits.

Whether you’re a new Amazon employee or you’ve moved up the ranks into a management or executive leadership role over a multi-year career, it’s important to make smart money moves with your income and employee benefits. For example:

✅ Do you know the right moves to make to get the greatest value from the Amazon benefits available to you?

✅If you’re thinking about leaving Amazon for another job or planning to retire from the company in a few years, are you taking the right steps today to ensure you will receive all of the compensation and benefits that you’ve earned?

Get the Most Value from Your Amazon Benefits and Compensation Package

Throughout the year, Amazon provides its employees and executives with updates about their benefits ranging from health insurance and health savings plans to retirement plans like a 401(k), deferred compensation plans, and stock options. While the company offers many useful resources and access to knowledgeable staff who can assist with questions, you’ll also find financial professionals not affiliated with Amazon who specialize in helping Amazon employees make the most of their income and benefits.

Whether you work in the Amazon headquarters in Seattle, Washington, another office location around the country, or remotely from home, you may have questions about your compensation package and benefits better suited for a financial professional who can offer unbiased advice and guidance.

For example, sensitive topics like discussing the steps you should take before quitting your job at Amazon to work elsewhere, protecting yourself in advance of a corporate layoff, or deciding when you should plan to retire are all conversations that may be more comfortable with a trusted financial advisor.

💡 In the Q&A below, you’ll gain insights from financial advisors who work with Amazon employees to help them make smart decisions to get the most value from their compensation and benefits, reduce their money stress, and prepare for a comfortable retirement.

🙋‍♀️ Do you have questions not yet answered? Use the form below to submit questions anonymously and watch this article for updates with answers to your questions. You can also reach out to the financial advisors below to set up an introductory call or contact them with your questions by email.

💸 Smart Money Insights for Amazon Employees & Executives

This page is organized into sections to help you quickly find the information you need and get answers to your questions:

1. Q&A: Financial Planning Tips for Amazon Employees & Executives
2. Get Answers to Your Questions About Your Amazon Benefits and Career
3. Quick Facts & Resources for Amazon Employees
4. Browse Related Articles

Q&A: Financial Planning Tips for Amazon Employees & Executives

Answers to Employee Questions with Angel Escobedo, CFP®

Angel Escobedo is a financial advisor based in Austin, Texas, who specializes in offering financial planning services to Amazon employees. Angel helps his clients get the most value from their Amazon benefits and compensation package so they can enjoy life and feel confident about their financial future.

Q: As a financial advisor with experience helping Amazon employees save for their retirement, how do you help them make the most of their employee benefits?

Angel: Amazon offers a wide range of benefits, most of which its employees are either unaware of or do not use to their full benefit. For example, did you know you can get an estate plan done free of charge? This might be one of many benefits you might be looking to discuss with a professional before you take advantage of it.

Q: Is there a particular benefit available to Amazon employees you feel isn’t as well utilized or understood by employees as it should be?

Angel: The one that comes to mind right away is 401k matching contributions. To maximize the full match Amazon provides, they need to contribute 4% of their compensation. Amazon will match 2% of that 4% contribution. Some employees will reduce their contribution from 4% to 2%, thinking they will still receive the same amount from Amazon. Unfortunately, in the scenario that the employee only contributes 2%, Amazon will, in turn, only match 1% of that contribution—bringing down the total contribution from 6% between both parties down to 3%, cutting their benefit in half.

The second thing is life insurance, specifically personal personal policies purchased by employees in the open market instead of using their benefits. If you’re going to buy life insurance, you should compare the cost of the policy against the same level of coverage that can be purchased as part of your benefits package. You can purchase supplemental life insurance through Amazon with a maximum of 2.2 million. Most of the time, when people shop for life insurance, they do so because they have just started a family. If that’s the case, the employee can change their benefits outside of open enrollment. This is also the case if the employee just got married.

Q: Beyond Amazon employee benefits for retirement savings, are there other types of benefits offered by the company that you find valuable to discuss with your clients?

Angel: Amazon attracts top talent via RSUs, which come with unintended tax consequences. Preparing for large distributions with a good tax strategy is crucial to making the most of your RSUs. Amazon also provides generous paid family leave. After one full year of employment, Amazon offers up to 20 weeks of fully paid leave for birthing parents, including four weeks before the baby is born.

One thing that I don’t find valuable but get questions about all the time is the Direct Stock Purchase Plan Amazon provides its employees. Amazon provides a stock purchase plan; however, employees do not get a discount when buying shares like in a traditional ESPP. There have been hints that this might change, but as of now, there is no added benefit in signing up for the direct stock purchase plan over simply buying shares at your discretion.

Q: For Amazon employees thinking about leaving the company to accept a job elsewhere, what actions do you recommend they take before resigning and shortly thereafter?

Angel: When selecting a new employer, compare your total compensation package, not just your new income. If there are any RSU vesting around the corner, it might be worth waiting until they’re vested to leave. Roll over your Amazon 401k to your new employer’s retirement-sponsored plan or your personal IRA.

Q: For Amazon employees who have managed their finances on their own to this point, what would you suggest they consider to help them decide if they should begin working with a financial advisor at this stage in their lives?

Angel: One crucial consideration for retiring Amazon employees is their willingness to dedicate themselves to financial planning, tax strategies, and investment management to secure a successful retirement. Most professionals can provide value in giving your time back, but the best will also find areas where you can optimize your plan.

Get to Know Angel Escobedo, Financial Advisor for Amazon Employees:

View Angel’s profile page on Wealthtender or visit his website to learn more.

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