No severance if salary over 250k?

[Anonymous]

I keep hearing this but can’t find it written anywhere.
I work at one of the higher paid agencies. Lawyers at my level make slightly over 250k and we heard this means no severance? Dies anyone know where to find this

[Anonymous]

It’s completely up to your company. Varies from a couple weeks to a couple months. Sometimes linked to vesting in retirement.

[Anonymous]

It’s here - https://www.opm.gov/policy-data-oversight/pay-leave/pay-administration/fact-sheets/severance-pay/, specifically, employee is ineligible for severance pay if s/he… holds a position for which the rate of basic pay is fixed at an Executive Schedule (EX) rate or has a rate of basic pay in excess of the official rate of pay for EX level 1.

Executive level 1 pay is $250,600.

[Anonymous]

They're getting it from 5 U.S.C. 5595(a)(2) [B?] (i).
I don't know if that language controls - there may be something else that applies - but that's why people are saying it.

[Anonymous]

$250K? Jeez no wonder.you are being fired

[Anonymous]

Anonymous wrote:$250K? Jeez no wonder.you are being fired

This is low pay for educated people with in demand skills. But you wouldn't know. Of course.

[Anonymous]

Anonymous wrote:

Anonymous wrote:$250K? Jeez no wonder.you are being fired

This is low pay for educated people with in demand skills. But you wouldn't know. Of course.

Such person should be the employer, not the employee.

[Anonymous]

There’s a lot of govt bloat

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:$250K? Jeez no wonder.you are being fired

This is low pay for educated people with in demand skills. But you wouldn't know. Of course.

Such person should be the employer, not the employee.

These people are SES and supervise hundreds of people. Ours are worth a whole lot more than 250k and would get more in private sector.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:$250K? Jeez no wonder.you are being fired

This is low pay for educated people with in demand skills. But you wouldn't know. Of course.

Such person should be the employer, not the employee.

These people are SES and supervise hundreds of people. Ours are worth a whole lot more than 250k and would get more in private sector.

+1

My brother is a CEO of a nonprofit, and his salary is 4M/yr. Should he decide to work for GS, his salary would be 40M/year.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:$250K? Jeez no wonder.you are being fired

This is low pay for educated people with in demand skills. But you wouldn't know. Of course.

Such person should be the employer, not the employee.

These people are SES and supervise hundreds of people. Ours are worth a whole lot more than 250k and would get more in private sector.

SES at GS agencies earn tens of thousands of dollars less than rank and file employees at financial regulatory agencies. Isn’t 250k the salary of Cabinet secretaries such as the Secretary of State? Yet the Secretary of State earns the same salary of rank and file employees at financial regulatory agencies and much less than the SES at these agencies.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:$250K? Jeez no wonder.you are being fired

This is low pay for educated people with in demand skills. But you wouldn't know. Of course.

Such person should be the employer, not the employee.

These people are SES and supervise hundreds of people. Ours are worth a whole lot more than 250k and would get more in private sector.

SES at GS agencies earn tens of thousands of dollars less than rank and file employees at financial regulatory agencies. Isn’t 250k the salary of Cabinet secretaries such as the Secretary of State? Yet the Secretary of State earns the same salary of rank and file employees at financial regulatory agencies and much less than the SES at these agencies.

Yes. The rank and file employees at financial regulatory agencies are significantly more experienced than political appointees, because the competition for these positions is intense and you must have specialized experience. I'm at one of these agencies and had to pass a rigorous test, in addition to having the right education and experience. The equivalent of the gs 15s at mine all had management experience at big banks and they are CFAs or CRMs. They used to make over 500k at Citi or Goldman. I was in IB and have a MS in fintech from MIT and was hired as a 13 equivalent.

[Anonymous]

Anonymous wrote:It’s here - https://www.opm.gov/policy-data-oversight/pay-leave/pay-administration/fact-sheets/severance-pay/, specifically, employee is ineligible for severance pay if s/he… holds a position for which the rate of basic pay is fixed at an Executive Schedule (EX) rate or has a rate of basic pay in excess of the official rate of pay for EX level 1.

Executive level 1 pay is $250,600.

Also at a fin regulator undergoing RIFs - I’m reading the above to mean that as long as your base salary is not above 250K (prior to adding locality pay) the employee may be eligible for severance

[Anonymous]

We pay Managers with 5-8 years of professional experience $200K-$300K at my private sector firm.

Feds with 15-20 years experience making $250K are not unusual. Their skills and experience are unique and invaluable for the roles they serve. The people at regularly agencies catching and fining organizations for fraud and non-compliance earn their pay many times over. Those saving lives and discovering cures for diseases could have made more in the private sector. Once these displaced Feds resettle elsewhere, we’re going to see a dramatic brain drain. Don’t complain when it takes too long to approve a new drugs, food being unsafe or credit card companies/bank charge even more for overdrafts and late payments.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:$250K? Jeez no wonder.you are being fired

This is low pay for educated people with in demand skills. But you wouldn't know. Of course.

Such person should be the employer, not the employee.

"Such person," Boris/Natasha, is a highly skilled professional.