Are SEC/CFPB/FDIC/OCC Employees Exempt from Federal Raise Announced by Biden?

[Anonymous]

Anonymous wrote:As a recent hire at one of these agencies, I get nothing but the shaft

Same boat here. 0% increase & no bonus for me. It was a good move career wise, despite the bad timing for purposes of a raise and a bonus.

[Anonymous]

Anonymous wrote:

Anonymous wrote:As a recent hire at one of these agencies, I get nothing but the shaft

Same boat here. 0% increase & no bonus for me. It was a good move career wise, despite the bad timing for purposes of a raise and a bonus.

Which agencies were these?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I work for SEC- we get annual increase in PP7. It is kind of a complicated formula but works out much better than the GS pay increases.

It's better but it's not much better. The SEC doesn't get step increases and those have an average value of 1.5% per year including the years where you don't get a step increase so the SEC raise is about 1.15% better than the GS raise.

True, but the baseline starting point is way higher. This is kinda like saying that a banker/trader earning 650K only got a 1% raise while the regulator earning 200K got a 5% raise. Which would you rather be?

PP- exactly my spouse is a 15/10 and has been at the cap for years. At the SEC I am a SK 14 at the cap and make significantly more than them.

You aren't joking. That's like a 50k difference.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:As a recent hire at one of these agencies, I get nothing but the shaft

Same boat here. 0% increase & no bonus for me. It was a good move career wise, despite the bad timing for purposes of a raise and a bonus.

Which agencies were these?

I can confirm fdic

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:As a recent hire at one of these agencies, I get nothing but the shaft

Same boat here. 0% increase & no bonus for me. It was a good move career wise, despite the bad timing for purposes of a raise and a bonus.

Which agencies were these?

I can confirm fdic

How long do you have to be at FDIC to be eligible for the annual raise? The entire fiscal year, or be employed at fiscal year end, or something else?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:As a recent hire at one of these agencies, I get nothing but the shaft

Same boat here. 0% increase & no bonus for me. It was a good move career wise, despite the bad timing for purposes of a raise and a bonus.

Which agencies were these?

I can confirm fdic

How long do you have to be at FDIC to be eligible for the annual raise? The entire fiscal year, or be employed at fiscal year end, or something else?

You need a satisfactory year end evaluation that comes out in August.

I wrongly assumed that the agency had automatic raises like that of the GS scale. And because of that assumption, I effectively took a 8% paycut this year!

[Anonymous]

Anonymous wrote:You need a satisfactory year end evaluation that comes out in August.

I wrongly assumed that the agency had automatic raises like that of the GS scale. And because of that assumption, I effectively took a 8% paycut this year!

Merry Christmas to you! That sucks. Is there no recourse?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:As a recent hire at one of these agencies, I get nothing but the shaft

Same boat here. 0% increase & no bonus for me. It was a good move career wise, despite the bad timing for purposes of a raise and a bonus.

Which agencies were these?

I can confirm fdic

How long do you have to be at FDIC to be eligible for the annual raise? The entire fiscal year, or be employed at fiscal year end, or something else?

You need a satisfactory year end evaluation that comes out in August.

I wrongly assumed that the agency had automatic raises like that of the GS scale. And because of that assumption, I effectively took a 8% paycut this year!

I'm trying to follow that math. What will your salary be on 1/15/23 in your current job? What would it be if you stayed in your previous job? Is it really 8% lower?

[Anonymous]

Anonymous wrote:

Anonymous wrote:It’s worth noting that most of these pay scales get step increases, so a 6.1% at FDIC is the raise in total. I assume it’s like this at other regulators too.

Assume you meant don't get step increases?

Just that….there are no steps. It’s a pay band. You move up the band through percentage increases, so this 6.1% is inclusive of the COLA everyone else gets, plus like 1%+ of an actual raise in pay.

The people on this thread saying they get the shaft…..you will get the COLA increase that comes to everyone to match with OPM locality pay. It’s not a ton, but you will get it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:As a recent hire at one of these agencies, I get nothing but the shaft

Same boat here. 0% increase & no bonus for me. It was a good move career wise, despite the bad timing for purposes of a raise and a bonus.

Which agencies were these?

I can confirm fdic

How long do you have to be at FDIC to be eligible for the annual raise? The entire fiscal year, or be employed at fiscal year end, or something else?

You need a satisfactory year end evaluation that comes out in August.

I wrongly assumed that the agency had automatic raises like that of the GS scale. And because of that assumption, I effectively took a 8% paycut this year!

Also, you will receive the enhanced benefits package and the automatic 4% contribution to your FDIC 401K, so it’s not a total shaft.

[Anonymous]

Anonymous wrote:The people on this thread saying they get the shaft…..you will get the COLA increase that comes to everyone to match with OPM locality pay. It’s not a ton, but you will get it.

Are you sure about that? The bargaining agreement seems to indicate only the min/max of each band will go up according to the 4.1% from Biden. So someone that isn’t at the minimum of the band will just have the bounds shifted around them, but no actual increase to their base salary. It looks like only the locality might go up a meager percentage (likely something more than the 0.76%) for the DC area according to the OPM pay tables. A <1% raise is still pretty crappy.

[Anonymous]

Anonymous wrote:

Anonymous wrote:The people on this thread saying they get the shaft…..you will get the COLA increase that comes to everyone to match with OPM locality pay. It’s not a ton, but you will get it.

Are you sure about that? The bargaining agreement seems to indicate only the min/max of each band will go up according to the 4.1% from Biden. So someone that isn’t at the minimum of the band will just have the bounds shifted around them, but no actual increase to their base salary. It looks like only the locality might go up a meager percentage (likely something more than the 0.76%) for the DC area according to the OPM pay tables. A <1% raise is still pretty crappy.

I’m relatively certain. It will be a 1.3% raise for this year.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The people on this thread saying they get the shaft…..you will get the COLA increase that comes to everyone to match with OPM locality pay. It’s not a ton, but you will get it.

Are you sure about that? The bargaining agreement seems to indicate only the min/max of each band will go up according to the 4.1% from Biden. So someone that isn’t at the minimum of the band will just have the bounds shifted around them, but no actual increase to their base salary. It looks like only the locality might go up a meager percentage (likely something more than the 0.76%) for the DC area according to the OPM pay tables. A <1% raise is still pretty crappy.

I’m relatively certain. It will be a 1.3% raise for this year.

Also, you’re looking for a raise based on a job you’ve done for a few months. If you’d researched a bit before coming on board you’d have known there’s no COLA like in the rest of the Government, so you can’t be angry at anyone other than yourself.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:As a recent hire at one of these agencies, I get nothing but the shaft

Same boat here. 0% increase & no bonus for me. It was a good move career wise, despite the bad timing for purposes of a raise and a bonus.

Which agencies were these?

I can confirm fdic

How long do you have to be at FDIC to be eligible for the annual raise? The entire fiscal year, or be employed at fiscal year end, or something else?

You need a satisfactory year end evaluation that comes out in August.

I wrongly assumed that the agency had automatic raises like that of the GS scale. And because of that assumption, I effectively took a 8% paycut this year!

Not to pour salt on the wound but had you started after the pay raise took effect you orobably would have had a higher starting salary because the pay matrices would have increased as well.

[Anonymous]

Anonymous wrote:

Anonymous wrote:You need a satisfactory year end evaluation that comes out in August.

I wrongly assumed that the agency had automatic raises like that of the GS scale. And because of that assumption, I effectively took a 8% paycut this year!

Merry Christmas to you! That sucks. Is there no recourse?

Only recourse for me is to take it raw