Govt vs private sector
 

Im a govt employee in DC and Ive been offfered a job in the private sector. I have 10 years vested in the govt and I am having trouble making a decision mainly because of the good pension offered at the end of 25 years sevice. The salary offered for the new job is ok (110K vs 85 in govt) and potential for advancement is good. Anyone made this jump? All comments welcome!

In this day and age, the person who believes government will have a dime for them come retirement is a fool.

I'd go private sector wit' a quickness. But that's just me. I plan on never seeing a dime from government due to social security - I suspect if I were an employee, I'd feel the same way about a "pension".

jvreed,

I went throught the same drill as you are about 6 years ago. I currently have 18+ years in govt service (decided to stay) and am glad I did. At the time I was making 95k and could have gone to the private sector for 115k (was made an offer). In the end it boiled down to the fact I really, really like my job. Maybe if the $ was greater I would have jumped at it. I can't say for sure though as I am a very conservative person.

In hindsight it was a good thing I didn't make the change as the company went through a large downsizing and I would have surely been one of the first to be let go. Plus, I have moved up fairly quickly so I doubt the difference in base salary would be very different at this point. However, the opportunity in bonus is much greater in industry (not sure about your particular situation).

As far as the "pension" (I assume you are FERS), I am not a pessimistic as PoP...I think it will be there, social security is a different matter though.

This is what I am working on...lots of fun!

http://forums.pelicanparts.com/uploa...1172703482.jpg

Good luck.

Wayne C.

Thanks a lot for your opinions guys. I agree with both socail security wont be there in 20 years and FERS (fed retirement) will be. My sitaution is similar to Waynes although I dont think the company wil go belly up but who knows. Anyway thanks

Wayne, cool satellite. Whats it used for?, if you can say! Im more on the protect the nation side of govt.

Govt is 9-5 put in your hours and go home, right? I know my buddy works for Ratheon (sp) private contractor and he gets paid great, but he works long hours and lots of weekends. No thanks. I think govt retirement will be there if not after you do your time you can always sell to the highest bidder right?

There has been a fair bit of talk lately about how flakey private-sector retirement programs are, and how solid the public sector ones are. From my perspective, public sector commitments (aside from Social Security that is) are FAR more reliable than private ones.

$85K makes you one of the most handsomely compensated public servants I have heard of.

jvreed- Make sure you have a full understanding of your FERS retirement. Yes, it's a good program but the pension part of it is extremely small (about 1% of your high-3 salary I think). It's the 401K portion, with govt. matching contributions, that is the overwhelming retirement nestegg.

If I was drawing $85k for ten years I wouldn't give a rat's a$$ about FERS, I'd be privately vested. COLA no doubt different vis-a vis VA/AR.
Jim

Did the reverse, came out of the military to work private contracts for a bit and then went back to govt service. Had an offer that was higher than the government pay but now that contract is broken and most of the people are gone. The "new" congress is hacking supplemental funding to the bone and many private contracts with the govt are going away.

I was able to keep my military years towards retirement. I have made grade promotions quickly and now am beyond the private offer in salary.

There are 3 types of government jobs, the typical that most people think of where the job determines the grade, competitive where the applicants qualifications and job field determines grade, and foreign service. The last 2 areas are the place to be so as not to have a job title determine your rank forever.

Dont forget not only do you get fers but you get the TSP, up to 15% pretax. Between FERS high 3, TSP and private funds a person can do ok. Plus a 15 in DC makes..

curlesw is that gpsIII or next gen thuraya? I played a bit in AFSCN and the the Boeing world of launches from VA. Fun stuff, to bad about NSS 8.

i left a public agency about 7 months ago for about a 20% pay increase. i miss sleeping well at night.

I can't imagine leaving a govt gig, it is the standard now.

jvvreed, I work in the private sector in the DC area as a gov't contractor. Dunno your field, but I could chat with you a little about it. BTW: 15 years from now is a long time. ... if you left you coudl always go back.

I have been offered a couple of jobs in the gov't, but I just can't see switching sides.

PM me if you want to chat.

No, it's MUOS. I have been on the program since day 1 (almost 8 years now), it's been a blast. ..it's got some cool technology, have learned a lot. Basic comms satellite, first launch in 2009...only 2.5 more years!

Wayne C.

I did the reverse...pass from private to gov sector...Less wages but more quality in life...much more good for the family trend...I don't regret my move.

I have been in the gov sector (DOE National Laboratories) since I graduated from college in '91.

They have offered decent pay, full upfront payment for my Master's Degree and an additional Bachelors Degree, 5 weeks of vacation per year, and a very generous retirement plan (10% into a 403b account with no matching required on my part).

The work environment at the two labs I have been associated with has been very low stress and my schedule is VERY flexible.

I am, as they say in 'The Shawshank Redemption', institutionalized. There is no way I could possibly function in the real world. :)

Can you help us understand this table? How long does it take to move a grade / step and what is involved?

Len, Grade relates to skill and performance, and Step equates to longevity. If a government worker sleeps a lot and his supervisor gets a lot of complaints from the public about his performance, then he moves up in Grade. Step increases probably come one or two per week.

Truth hurts:D

But seriously, listen to these guys that work in gov. Little stress, flexibility, top shelf benefits, gold plated retirement, almost zero risk of losing your job, and now we find decent pay as well. I say these guys are smart and I sincerely wish I had taken that route.