SK-16 at SEC - what salary would it take you to leave for private sector?

[Anonymous]

Anonymous wrote:

Anonymous wrote:For those who are saying it would take double or triple, you should know that the private sector isn't all 60+ hr work weeks, high turnover, and stressful environments. You can leave, make a decent amount more money, improve your work environment, and still work normal hours.

Just in case some misconception of private sector life is holding you back.

Switched from the private sector to another finreg. For me, the quality of the work, relative flexibility, and generous pension are what keep me from entertaining offers to return to private. I know the work can be “normal”, but it’s rarely as impactful.

As a regular person with public investments, thank you.

[Anonymous]

Anonymous wrote:Retired as SK-16. No private sector for me. Not worth it. I'm 59, who knows how long I'll live?

I'm with you, and I think I will do the same. Did you go back and forth of considering it over the years? Or you were happy/content with your decision and wasn't thinking of private sector?

[Anonymous]

Anonymous wrote:

Anonymous wrote:For those who are saying it would take double or triple, you should know that the private sector isn't all 60+ hr work weeks, high turnover, and stressful environments. You can leave, make a decent amount more money, improve your work environment, and still work normal hours.

Just in case some misconception of private sector life is holding you back.

er. I guess it all depends. I did several rounds in tech before ending up in a finreg, so I think my eyes are pretty open as to the work-life balance tradeoffs. Obviously, I'm not a lawyer, and was interviewing at a FAANG, but I think I was being pretty realistic at estimating 2-3x current income being needed. My layoff risk will only increase from here on out, and it's a safe bet that finding a new job could take up to a year if laid off. So that first year would be a lot of stress to both perform AND build-up the layoff fund. Sure, it would be great if I could guarantee it would last 5+ years, but I'm pretty sure it wouldn't. The worst risk I run these days is that congress can't get their act together and my pay might be delayed for a month.

Are you in a texh role at a Finreg?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:For those who are saying it would take double or triple, you should know that the private sector isn't all 60+ hr work weeks, high turnover, and stressful environments. You can leave, make a decent amount more money, improve your work environment, and still work normal hours.

Just in case some misconception of private sector life is holding you back.

er. I guess it all depends. I did several rounds in tech before ending up in a finreg, so I think my eyes are pretty open as to the work-life balance tradeoffs. Obviously, I'm not a lawyer, and was interviewing at a FAANG, but I think I was being pretty realistic at estimating 2-3x current income being needed. My layoff risk will only increase from here on out, and it's a safe bet that finding a new job could take up to a year if laid off. So that first year would be a lot of stress to both perform AND build-up the layoff fund. Sure, it would be great if I could guarantee it would last 5+ years, but I'm pretty sure it wouldn't. The worst risk I run these days is that congress can't get their act together and my pay might be delayed for a month.

Are you in a texh role at a Finreg?

PP here, but not OP. I'm at a 14-level at a finreg, in tech. A 16-level would be a golden ticket. But work-life balance and risk analysis for continued employment, especially given the ageism in tech, means that I am pretty sure i'm not leaving for private sector unless I get really inspired to do an early-stage startup and all the attendant pressure. Doing the math and interviewing at an established FAANG for a 600k+ role left me feeling happier with current path, and not wanting to make the jump to private.

[Anonymous]

Wow people here must really love the SEC and/or really be scared of any potential instability in the private sector. I'm not even a 16 - currently a 14 making 225k. I'd leave for any offer at 250k+. Yes I understand I give up things like a pension and cheap healthcare, while taking on layoff risk. But IDK you only live once and to me that's too short to be pushing paper with govt workers forever just for stability and a pension at age 62. YMMV.

[Anonymous]

Anonymous wrote:Wow people here must really love the SEC and/or really be scared of any potential instability in the private sector. I'm not even a 16 - currently a 14 making 225k. I'd leave for any offer at 250k+. Yes I understand I give up things like a pension and cheap healthcare, while taking on layoff risk. But IDK you only live once and to me that's too short to be pushing paper with govt workers forever just for stability and a pension at age 62. YMMV.

How old are you? Any kids?

[Anonymous]

Anonymous wrote:Wow people here must really love the SEC and/or really be scared of any potential instability in the private sector. I'm not even a 16 - currently a 14 making 225k. I'd leave for any offer at 250k+. Yes I understand I give up things like a pension and cheap healthcare, while taking on layoff risk. But IDK you only live once and to me that's too short to be pushing paper with govt workers forever just for stability and a pension at age 62. YMMV.

I think you have never had a private sector job right?

[Anonymous]

Anonymous wrote:Wow people here must really love the SEC and/or really be scared of any potential instability in the private sector. I'm not even a 16 - currently a 14 making 225k. I'd leave for any offer at 250k+. Yes I understand I give up things like a pension and cheap healthcare, while taking on layoff risk. But IDK you only live once and to me that's too short to be pushing paper with govt workers forever just for stability and a pension at age 62. YMMV.

Not billing hours is worth at least 25k.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Wow people here must really love the SEC and/or really be scared of any potential instability in the private sector. I'm not even a 16 - currently a 14 making 225k. I'd leave for any offer at 250k+. Yes I understand I give up things like a pension and cheap healthcare, while taking on layoff risk. But IDK you only live once and to me that's too short to be pushing paper with govt workers forever just for stability and a pension at age 62. YMMV.

Not billing hours is worth at least 25k.

+1. Billing time sucks.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Wow people here must really love the SEC and/or really be scared of any potential instability in the private sector. I'm not even a 16 - currently a 14 making 225k. I'd leave for any offer at 250k+. Yes I understand I give up things like a pension and cheap healthcare, while taking on layoff risk. But IDK you only live once and to me that's too short to be pushing paper with govt workers forever just for stability and a pension at age 62. YMMV.

I think you have never had a private sector job right?

9 yrs in NYC biglaw. Came up for partner just after the recession - didn't make it as my firm merged with another. Took a job in govt bc DH had an opportunity in DC. Was never my cup of tea and still isn't. Thankfully DH's time in DC is up so hopefully I'm out of gov't soon anyway, as I don't intend to seek a transfer to the SEC in NYC.

[Anonymous]

PP - you must be in an easy office at the SEC.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Wow people here must really love the SEC and/or really be scared of any potential instability in the private sector. I'm not even a 16 - currently a 14 making 225k. I'd leave for any offer at 250k+. Yes I understand I give up things like a pension and cheap healthcare, while taking on layoff risk. But IDK you only live once and to me that's too short to be pushing paper with govt workers forever just for stability and a pension at age 62. YMMV.

I think you have never had a private sector job right?

9 yrs in NYC biglaw. Came up for partner just after the recession - didn't make it as my firm merged with another. Took a job in govt bc DH had an opportunity in DC. Was never my cup of tea and still isn't. Thankfully DH's time in DC is up so hopefully I'm out of gov't soon anyway, as I don't intend to seek a transfer to the SEC in NYC.

Do you prefer BigLaw to SEC?? You are definitely a minority. And I assume no kids.

[Anonymous]

Anonymous wrote:Wow people here must really love the SEC and/or really be scared of any potential instability in the private sector. I'm not even a 16 - currently a 14 making 225k. I'd leave for any offer at 250k+. Yes I understand I give up things like a pension and cheap healthcare, while taking on layoff risk. But IDK you only live once and to me that's too short to be pushing paper with govt workers forever just for stability and a pension at age 62. YMMV.

Normally people say YOLO when emphasizing the desire for work life balance and the important things in life. But do you view financial stability as very important that you'd feel more secure and happy as a big law attorney?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Wow people here must really love the SEC and/or really be scared of any potential instability in the private sector. I'm not even a 16 - currently a 14 making 225k. I'd leave for any offer at 250k+. Yes I understand I give up things like a pension and cheap healthcare, while taking on layoff risk. But IDK you only live once and to me that's too short to be pushing paper with govt workers forever just for stability and a pension at age 62. YMMV.

Normally people say YOLO when emphasizing the desire for work life balance and the important things in life. But do you view financial stability as very important that you'd feel more secure and happy as a big law attorney?

Yeah, YOLO for BigLaw is very odd take? But maybe in NYC they deal in more exciting corporate topics, like white collar crime (insider trading, antitrust) and big deal mergers so they get to rub elbows with titans of business?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Wow people here must really love the SEC and/or really be scared of any potential instability in the private sector. I'm not even a 16 - currently a 14 making 225k. I'd leave for any offer at 250k+. Yes I understand I give up things like a pension and cheap healthcare, while taking on layoff risk. But IDK you only live once and to me that's too short to be pushing paper with govt workers forever just for stability and a pension at age 62. YMMV.

Normally people say YOLO when emphasizing the desire for work life balance and the important things in life. But do you view financial stability as very important that you'd feel more secure and happy as a big law attorney?

Yeah, YOLO for BigLaw is very odd take? But maybe in NYC they deal in more exciting corporate topics, like white collar crime (insider trading, antitrust) and big deal mergers so they get to rub elbows with titans of business?

White collar criminal practices tend to be boring. Lots of documents and witness interviews. Definitely no FOMO there.