DC feds will never feel ahead because there are so many of us, we are basically an inflationary factor in this area. We rise and prices rise at the same level. |
Yeah, at 50 I feel I need to make 2x - 3x Fed salary to make a move worthwhile because there is such likelihood of being laid off for long periods — I’m not an executive |
| Yep at 50 as a GS 15 non supervisory attorney ill tale the security. Pay compression sucks but its better than working 50-60 hours per week. |
Guess it depends where you are but at my megacorp pretty much everyone gets a 3.5% raise and performance is recognized through bonuses and promotions. |
Yep. I very deliberately targeted a federal job in my mid-50s. F ageism. I'm excellent at what I do and energetic. |
New employees now pay 4.4% for that pension, and that makes the pension neutral from an actuarial perspective. In other words, those employees would do just as well getting to keep that money and invest it in the stock market. |
Are you at a tech or finance mega corp? |
At my mid-sized agency everyone gets the same bonus no matter what level you are. This year it was something like $4500 for Outstanding, and then $3000 and $1500 for the lower performance ratings. |
+1 Laid off in my mid-40s, consulted for a few years with various professional contacts, then landed a GS-15. Being a supervisor is a pain; mostly bc i am non-confrontational and my leadership wants me to push the lower performers. Other than that I am good at the work and I like the people, the mission and, most of all, the job security. |
Neither. Boring manufacturing mega Corp. |
| Meanwhile, the SEC just cancelled their extra supplemental 3 percent TSP. Which is effectively a huge pay CUT. Expect a big brain drain there soon (actually started a couple years ago). |
DP I see the 4.4 as a wash with the TSP 5% match so it's not that bad to me. I like that part of my retirement is defined benefit. |
Which pay systems don't? |
| Agree that the job security is great but the pay at the highest levels continues to fall behind (down over 20% in real terms since those 2010-era pay freezes hit). I left three years ago and don’t regret it. |
| I regret slightly not working in private industey and banking $$ at a younger age, but zero regrets now being at a finreg at 48 and earning 240k/yr for 40hrs max/week. |