Re:Job switchers are earning a lot more than those who stay
by FactualActuals on Tuesday July 26, 2022 @09:15AM
(#32237824)
I get paid a decent salary with room to grow in the government. I am not on the GS scale though so my pay increases are much higher than someone on it. I have a strict 40 hour work week, currently get 20 annual leave days and 13 sick days a year, TSP with matching contributions, and FEHB. I've always considered leaving to make more money but the thing that always holds me back is the guaranteed pension if I stay in until my minimum retirement age. I always decided that stability was better for me because I watched my parents struggle when things weren't stable for them.
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Re:Job switchers are earning a lot more than those who stay
by arcanus on Tuesday July 26, 2022 @09:18AM
(#32237860)
What is the pension expected payment?
You could estimate the pension as a risk free asset, paying approximately 4% a year. That would give you a comparison between what you need to save in industry vs. the government. For example of the pension is 200k a year, you would need to have saved 5 million in industry for the equivalent.
Re:Job switchers are earning a lot more than those who stay
by FactualActuals on Tuesday July 26, 2022 @01:26PM
(#32241165)
If I don't go into management, and assuming there are absolutely no more cost of living adjustments or changes to how much my pay scale pays, my salary will cap out around 150k a year.
If I go into management, whether it's technical leadership or as a normal manager, then I could cap out around 176k a year.
I don't recall off the top of my head how much that translates to per month with pension.