You don’t get an automatic increase. Individual SES increase is determined by your performance rating and comparison against other executives in the pool. If you were at the cap of your tier, you can realize your performance based increase up to the new cap of $203,700 (assuming you are level 2). For example, this year I earned a 5 rating (outstanding) and was given a 3.75 percent salary increase. I won’t get the full increase because it would put me over level 2. But I’ll realize 2.6 percent of the 3.75 percent in this situation. Had the cap not increased this year, I would not have realized any of that 3.75 percent performance pay increase. |
You can’t keep your health insurance when you retire or are laid off, correct? And no pensions? Those are massive differences. |
Plus the fed job security is nothing to sneeze at, especially as you get older. |
Thank you. Looks like capped 15s got 2.2% still. |
Good. |
Np I am a fed but is the health insurance that good? Isn’t Medicare plus part D cheaper and better? Fwiw my parents have way better insurance through my dads company than I have. My best friend in private sector doesn’t even pay premiums with her health insurance. |
Former Fed (10+ years) here and while the insurance is generally very good (I had BCBS Standard), and the fact that you get it in retirement is definitely a plus, it's not as amazing as people say. For one, there's zero fertility coverage, which compared to private sector companies is pretty disappointing. Second, the premiums for adding dependent coverage are not that great either. I now work at a big tech company and my entire family is covered with a PPO for less than $300/mo. If I had stayed with the fed gov't, it would have been significantly more than that (and I'd be getting paid a lot less, of course). I also think the Fed pension is pretty mediocre. At least at my old agency, the theory was that your TSP + SS + pension would serve to replace your full salary in retirement. So the pension is nowhere near your full salary (whereas in local/state gov't, that sometimes is the case - I worked for local gov't briefly and they promised a full pension after 30 years of service). Plus at my tech company now, I get a far larger match to my 401K, and also have access to mega backdoor roth. All that said, the job security is not to be taken lightly, and for some, the partial pension plus lifetime health insurance makes it worthwhile. That's of course setting aside the mission aspect, which for me was the best part of being a Fed. Unfortunately I had had it with the politics and lack of advancement opportunities, so I'm very glad I left. |
Many do. Scientists in charge of manufacturing, regulatory affairs, leads on project development. $200k+ is easy. Many leave for $300-400k+. If you stay in the lab, sure, it is hard to make more than. $150k as a scientist. The real money is in manufacturing, regulatory product development, and business strategy. |
I received a raise of 1.6 percent plus the comparability adjustment, whatever that is. |
Leaving for $200k would be foolish. Are there really loads of scientists making $300k-$400k? Please list some companies where that is common, not just the one Chief Scientist or VP of research. |
| I hope the 2023 raise is substantially more than these peanuts. And it's 2023 or never, what with federal employee hating, nasty GOP possibly retaking the House. |
Depends when you want to retire and what Fed health plan you have. You can’t get Medicare before 65 on the basis of age, but can retire with health insurance from the Federal government before that depending on your years of service and agency. 57 for me, and the difference between that and 65 with zero worries about health insurance is quite a lot. |
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New pay tables are out:
https://www.opm.gov/policy-data-oversight/pay-leave/salaries-wages/2022/general-schedule/ |
I don’t know why people keep touting this line. It’s been discussed ad naseum (and you can easily pull the data) that feds have consistently gotten higher raises under republicans. |
Yeah, but SES receives their money in the big bonuses. |