Large pretrained language models like BERT have shown excellent generalization properties and have advanced the state of the art on various NLP tasks. In this paper we evaluate Finnish BERT (FinBERT) model on the IPTC Subject Codes prediction task. We compare it to a simpler Doc2Vec model used as a baseline. Due to hierarchical nature of IPTC Subject Codes, we also evaluate the effect of encoding the hierarchy in the network layer topology. Contrary to our expectations, a simpler baseline Doc2Vec model clearly outperforms the more complex FinBERT model and our attempts to encode hierarchy in a prediction network do not yield systematic improvement.