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

[Anonymous]

Anonymous wrote:

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.

Agreed and thats why I said I wrongly assumed. I wrote this so that future folks on here will be better informed.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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.

Agreed and thats why I said I wrongly assumed. I wrote this so that future folks on here will be better informed.

Then I rescind my snotty post and look forward to unknowingly potentially working with you in the future.

Welcome to the FDIC!

[Anonymous]

Does the SEC do it based on the end of the performance year or end of the fiscal year? Trying to plan ahead…

[Anonymous]

Anonymous wrote:Does the SEC do it based on the end of the performance year or end of the fiscal year? Trying to plan ahead…

do what, exactly? the performance year is the fiscal year, but raises aren't actually issued until april. in my previous non-gs agency, you had to be in the review system by june 30 to be eligible for the raise, at the sec i think its sept 30?

and i left a pretty hefty raise on the table to come to the SEC, but then recall what I would have paid to get away from my awful management at the previous agency and consider it a good deal. it's not always cut and dried.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Does the SEC do it based on the end of the performance year or end of the fiscal year? Trying to plan ahead…

do what, exactly? the performance year is the fiscal year, but raises aren't actually issued until april. in my previous non-gs agency, you had to be in the review system by june 30 to be eligible for the raise, at the sec i think its sept 30?

and i left a pretty hefty raise on the table to come to the SEC, but then recall what I would have paid to get away from my awful management at the previous agency and consider it a good deal. it's not always cut and dried.

The performance year ends 12/31 and the fiscal year ends 9/30 so that part is incorrect.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Does the SEC do it based on the end of the performance year or end of the fiscal year? Trying to plan ahead…

do what, exactly? the performance year is the fiscal year, but raises aren't actually issued until april. in my previous non-gs agency, you had to be in the review system by june 30 to be eligible for the raise, at the sec i think its sept 30?

and i left a pretty hefty raise on the table to come to the SEC, but then recall what I would have paid to get away from my awful management at the previous agency and consider it a good deal. it's not always cut and dried.

The performance year ends 12/31 and the fiscal year ends 9/30 so that part is incorrect.

So does anyone know the best time to to select a start date? Would it be before 9/29 or 12/30? I really need my bonus to finish off my student loans but would like to get a raise given the salary cut I am going to take.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Does the SEC do it based on the end of the performance year or end of the fiscal year? Trying to plan ahead…

do what, exactly? the performance year is the fiscal year, but raises aren't actually issued until april. in my previous non-gs agency, you had to be in the review system by june 30 to be eligible for the raise, at the sec i think its sept 30?

and i left a pretty hefty raise on the table to come to the SEC, but then recall what I would have paid to get away from my awful management at the previous agency and consider it a good deal. it's not always cut and dried.

The performance year ends 12/31 and the fiscal year ends 9/30 so that part is incorrect.

So does anyone know the best time to to select a start date? Would it be before 9/29 or 12/30? I really need my bonus to finish off my student loans but would like to get a raise given the salary cut I am going to take.

I think right before 12/30 but if you are getting a private sector bonus, I would just wait for that because it will be better than any difference in pay by choosing a strategic start date in the government. The truth is that you often don’t have too much say over start dates in any job (good luck saying I don’t want to start September 1 but instead want to start four months later) and HR people are often idiots so even though you can try to tell them that you’re starting too late in the year to get a bonus and annual pay increase and so your starting salary should take that into account, it’s likely to fall on deaf ears. And even if they say they are factoring it in, how do you really know if that’s true?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Does the SEC do it based on the end of the performance year or end of the fiscal year? Trying to plan ahead…

do what, exactly? the performance year is the fiscal year, but raises aren't actually issued until april. in my previous non-gs agency, you had to be in the review system by june 30 to be eligible for the raise, at the sec i think its sept 30?

and i left a pretty hefty raise on the table to come to the SEC, but then recall what I would have paid to get away from my awful management at the previous agency and consider it a good deal. it's not always cut and dried.

The performance year ends 12/31 and the fiscal year ends 9/30 so that part is incorrect.

So does anyone know the best time to to select a start date? Would it be before 9/29 or 12/30? I really need my bonus to finish off my student loans but would like to get a raise given the salary cut I am going to take.

I think right before 12/30 but if you are getting a private sector bonus, I would just wait for that because it will be better than any difference in pay by choosing a strategic start date in the government. The truth is that you often don’t have too much say over start dates in any job (good luck saying I don’t want to start September 1 but instead want to start four months later) and HR people are often idiots so even though you can try to tell them that you’re starting too late in the year to get a bonus and annual pay increase and so your starting salary should take that into account, it’s likely to fall on deaf ears. And even if they say they are factoring it in, how do you really know if that’s true?

NP and pretty sure you would want to get your offer after 4/1 so it reflects the most recent pay bump. The issue will be your offer date as much as your start date because that affects which version of the pay matrix they use.

Also, pretty sure the latest best start date is August/September...pretty sure you don't get any raise if you start in December.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Does the SEC do it based on the end of the performance year or end of the fiscal year? Trying to plan ahead…

do what, exactly? the performance year is the fiscal year, but raises aren't actually issued until april. in my previous non-gs agency, you had to be in the review system by june 30 to be eligible for the raise, at the sec i think its sept 30?

and i left a pretty hefty raise on the table to come to the SEC, but then recall what I would have paid to get away from my awful management at the previous agency and consider it a good deal. it's not always cut and dried.

The performance year ends 12/31 and the fiscal year ends 9/30 so that part is incorrect.

So does anyone know the best time to to select a start date? Would it be before 9/29 or 12/30? I really need my bonus to finish off my student loans but would like to get a raise given the salary cut I am going to take.

I think right before 12/30 but if you are getting a private sector bonus, I would just wait for that because it will be better than any difference in pay by choosing a strategic start date in the government. The truth is that you often don’t have too much say over start dates in any job (good luck saying I don’t want to start September 1 but instead want to start four months later) and HR people are often idiots so even though you can try to tell them that you’re starting too late in the year to get a bonus and annual pay increase and so your starting salary should take that into account, it’s likely to fall on deaf ears. And even if they say they are factoring it in, how do you really know if that’s true?

NP and pretty sure you would want to get your offer after 4/1 so it reflects the most recent pay bump. The issue will be your offer date as much as your start date because that affects which version of the pay matrix they use.

Also, pretty sure the latest best start date is August/September...pretty sure you don't get any raise if you start in December.

You are “going” to take a pay cut to go SEC and have a choice of start date that far in the future? Do you have a job offer pending or you are just assuming you’ll get hired?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Does the SEC do it based on the end of the performance year or end of the fiscal year? Trying to plan ahead…

do what, exactly? the performance year is the fiscal year, but raises aren't actually issued until april. in my previous non-gs agency, you had to be in the review system by june 30 to be eligible for the raise, at the sec i think its sept 30?

and i left a pretty hefty raise on the table to come to the SEC, but then recall what I would have paid to get away from my awful management at the previous agency and consider it a good deal. it's not always cut and dried.

The performance year ends 12/31 and the fiscal year ends 9/30 so that part is incorrect.

So does anyone know the best time to to select a start date? Would it be before 9/29 or 12/30? I really need my bonus to finish off my student loans but would like to get a raise given the salary cut I am going to take.

I think right before 12/30 but if you are getting a private sector bonus, I would just wait for that because it will be better than any difference in pay by choosing a strategic start date in the government. The truth is that you often don’t have too much say over start dates in any job (good luck saying I don’t want to start September 1 but instead want to start four months later) and HR people are often idiots so even though you can try to tell them that you’re starting too late in the year to get a bonus and annual pay increase and so your starting salary should take that into account, it’s likely to fall on deaf ears. And even if they say they are factoring it in, how do you really know if that’s true?

NP and pretty sure you would want to get your offer after 4/1 so it reflects the most recent pay bump. The issue will be your offer date as much as your start date because that affects which version of the pay matrix they use.

Also, pretty sure the latest best start date is August/September...pretty sure you don't get any raise if you start in December.

You don’t get the raise but you minimize the time that you’re working without it counting toward a raise or bonus. If you do august or September, you may be subject to some sort of prorating.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Does the SEC do it based on the end of the performance year or end of the fiscal year? Trying to plan ahead…

do what, exactly? the performance year is the fiscal year, but raises aren't actually issued until april. in my previous non-gs agency, you had to be in the review system by june 30 to be eligible for the raise, at the sec i think its sept 30?

and i left a pretty hefty raise on the table to come to the SEC, but then recall what I would have paid to get away from my awful management at the previous agency and consider it a good deal. it's not always cut and dried.

The performance year ends 12/31 and the fiscal year ends 9/30 so that part is incorrect.

So does anyone know the best time to to select a start date? Would it be before 9/29 or 12/30? I really need my bonus to finish off my student loans but would like to get a raise given the salary cut I am going to take.

I think right before 12/30 but if you are getting a private sector bonus, I would just wait for that because it will be better than any difference in pay by choosing a strategic start date in the government. The truth is that you often don’t have too much say over start dates in any job (good luck saying I don’t want to start September 1 but instead want to start four months later) and HR people are often idiots so even though you can try to tell them that you’re starting too late in the year to get a bonus and annual pay increase and so your starting salary should take that into account, it’s likely to fall on deaf ears. And even if they say they are factoring it in, how do you really know if that’s true?

NP and pretty sure you would want to get your offer after 4/1 so it reflects the most recent pay bump. The issue will be your offer date as much as your start date because that affects which version of the pay matrix they use.

Also, pretty sure the latest best start date is August/September...pretty sure you don't get any raise if you start in December.

You are “going” to take a pay cut to go SEC and have a choice of start date that far in the future? Do you have a job offer pending or you are just assuming you’ll get hired?

This is why the discussion is pretty stupid. I suppose you might have some flexibility by maybe a month or two and it might impact bonus and a raise depending on which date you choose but the idea that you’ll otherwise be able to time your offer (if you get one) and start date perfectly to maximize compensation is naive.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Does the SEC do it based on the end of the performance year or end of the fiscal year? Trying to plan ahead…

do what, exactly? the performance year is the fiscal year, but raises aren't actually issued until april. in my previous non-gs agency, you had to be in the review system by june 30 to be eligible for the raise, at the sec i think its sept 30?

and i left a pretty hefty raise on the table to come to the SEC, but then recall what I would have paid to get away from my awful management at the previous agency and consider it a good deal. it's not always cut and dried.

The performance year ends 12/31 and the fiscal year ends 9/30 so that part is incorrect.

So does anyone know the best time to to select a start date? Would it be before 9/29 or 12/30? I really need my bonus to finish off my student loans but would like to get a raise given the salary cut I am going to take.

I think right before 12/30 but if you are getting a private sector bonus, I would just wait for that because it will be better than any difference in pay by choosing a strategic start date in the government. The truth is that you often don’t have too much say over start dates in any job (good luck saying I don’t want to start September 1 but instead want to start four months later) and HR people are often idiots so even though you can try to tell them that you’re starting too late in the year to get a bonus and annual pay increase and so your starting salary should take that into account, it’s likely to fall on deaf ears. And even if they say they are factoring it in, how do you really know if that’s true?

NP and pretty sure you would want to get your offer after 4/1 so it reflects the most recent pay bump. The issue will be your offer date as much as your start date because that affects which version of the pay matrix they use.

Also, pretty sure the latest best start date is August/September...pretty sure you don't get any raise if you start in December.

You don’t get the raise but you minimize the time that you’re working without it counting toward a raise or bonus. If you do august or September, you may be subject to some sort of prorating.

There's no pro rating. You either get it all or you dont.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Does the SEC do it based on the end of the performance year or end of the fiscal year? Trying to plan ahead…

do what, exactly? the performance year is the fiscal year, but raises aren't actually issued until april. in my previous non-gs agency, you had to be in the review system by june 30 to be eligible for the raise, at the sec i think its sept 30?

and i left a pretty hefty raise on the table to come to the SEC, but then recall what I would have paid to get away from my awful management at the previous agency and consider it a good deal. it's not always cut and dried.

The performance year ends 12/31 and the fiscal year ends 9/30 so that part is incorrect.

So does anyone know the best time to to select a start date? Would it be before 9/29 or 12/30? I really need my bonus to finish off my student loans but would like to get a raise given the salary cut I am going to take.

I think right before 12/30 but if you are getting a private sector bonus, I would just wait for that because it will be better than any difference in pay by choosing a strategic start date in the government. The truth is that you often don’t have too much say over start dates in any job (good luck saying I don’t want to start September 1 but instead want to start four months later) and HR people are often idiots so even though you can try to tell them that you’re starting too late in the year to get a bonus and annual pay increase and so your starting salary should take that into account, it’s likely to fall on deaf ears. And even if they say they are factoring it in, how do you really know if that’s true?

NP and pretty sure you would want to get your offer after 4/1 so it reflects the most recent pay bump. The issue will be your offer date as much as your start date because that affects which version of the pay matrix they use.

Also, pretty sure the latest best start date is August/September...pretty sure you don't get any raise if you start in December.

You are “going” to take a pay cut to go SEC and have a choice of start date that far in the future? Do you have a job offer pending or you are just assuming you’ll get hired?

don't.

I work there but I was just saying from a theoretical perspective which timing is the most beneficial. I agree you probably won't have much choice on your start date beyond a month or two.

[Anonymous]

The lesson learned from this thread is to negotiate your pay knowing what the merit raise will be for the next year in the CBA (i.e. akin to what biglaw laterals do when lateraling to other biglaw firms and negotiating to get the full bonus even though he/she didn't work at the firm for the whole year).

[Anonymous]

Anonymous wrote:The lesson learned from this thread is to negotiate your pay knowing what the merit raise will be for the next year in the CBA (i.e. akin to what biglaw laterals do when lateraling to other biglaw firms and negotiating to get the full bonus even though he/she didn't work at the firm for the whole year).

You really can't negotiate at the SEC. They have a matrix based on years of experience and you get what you get. You can ask them to reconsider to make sure they put you in there correctly because errors definitely happen but if they've done it correctly that's the pay you're going to get.