Private sector vs. fed income?

[Anonymous]

Husband and I work for Feds with annual income eat $300k. My brother and his wife are private sector (dentist and finance) with annual income est $500k. They tell me that if they had to do it over again, they would trade job situations with us, they prefer the stability, leave options, minimal travel, and the retirement package that we get with Fed employment. They would gladly give up the $200k in additional income to be in our situation. We had always felt they had a better situation so this was a surprise. Thoughts?

[Anonymous]

typical "grass is greener on the other side"...

[Anonymous]

We are private and trying to retire into fed positions. I don't regret starting out in private because the money is definitely better.

[Anonymous]

I think that if you're making $300k with a stable schedule and great benefits, it's kind of sad that you were sitting around thinking how much better your brother and his wife had it. When most people talk about the public/private tradeoffs they're talking about trading stability and flexibility (but economic struggles) for a chance at something closer to $300k in the private sector, not for a slight bump up the UMC ladder.

[Anonymous]

That's just dumb. An extra $200K/year is significant. Tell them to spend as if they only earned $300K/year and put the extra $200K in secure investments.

[Anonymous]

If you can secure a max pay at gs15 and have patience to stick around for 25 years, not a bad deal. As for me, I would just go nuts working for the Feds watching many show up just up collect a paycheck and bennies. B

[Anonymous]

Anonymous wrote:If you can secure a max pay at gs15 and have patience to stick around for 25 years, not a bad deal. As for me, I would just go nuts working for the Feds watching many show up just up collect a paycheck and bennies. B

Spoken like someone who has no idea what it's like to work as a fed.

[Anonymous]

Anonymous wrote:

Anonymous wrote:If you can secure a max pay at gs15 and have patience to stick around for 25 years, not a bad deal. As for me, I would just go nuts working for the Feds watching many show up just up collect a paycheck and bennies. B

Spoken like someone who has no idea what it's like to work as a fed.

It's all the same. There will always me a segment of very devoted folks, a large segment of people ready and willing to do an adequate job, and a segment of barnacles who just hang on.

With the fed, the last group gets lots of press, the first group gets no press, and the middle group gets ignored. In private, the last group is ignored, the middle group ignored and the first group gets lots of press.

[Anonymous]

Anonymous wrote:

Anonymous wrote:If you can secure a max pay at gs15 and have patience to stick around for 25 years, not a bad deal. As for me, I would just go nuts working for the Feds watching many show up just up collect a paycheck and bennies. B

Spoken like someone who has no idea what it's like to work as a fed.

so true. not to mention there are people in the private sector coasting along too. every organization has a few.

[Anonymous]

I had a conversation recently with a friend that was very similar. I make probably half what she makes, but her industry is very unstable and she's constantly worried about layoffs and saving enough money in case she loses a job and can't find another one. We both are workhorses and love the work we do. She is extremely envious of my flexible telework options, health insurance package and retirement. I was stunned because I've thought about leaving the government to go to industry at some point (and still might) but I hadn't been valuing those benefits perhaps as high as I should have.

[Anonymous]

Anonymous wrote:I think that if you're making $300k with a stable schedule and great benefits, it's kind of sad that you were sitting around thinking how much better your brother and his wife had it. When most people talk about the public/private tradeoffs they're talking about trading stability and flexibility (but economic struggles) for a chance at something closer to $300k in the private sector, not for a slight bump up the UMC ladder.

This. We're a dual Fed household at about the same HHI as you and LOVE it. We both have a lot of flexibility in our schedules (which aren't crazy long hours, either), do meaningful, challenging work, plus the benefits, stability, etc. We can adequately save for our retirement, our kids' college funds, and don't really want for anything. How is that not awesome?

[Anonymous]

Anonymous wrote:Husband and I work for Feds with annual income eat $300k. My brother and his wife are private sector (dentist and finance) with annual income est $500k. They tell me that if they had to do it over again, they would trade job situations with us, they prefer the stability, leave options, minimal travel, and the retirement package that we get with Fed employment. They would gladly give up the $200k in additional income to be in our situation. We had always felt they had a better situation so this was a surprise. Thoughts?

My wife and I both were in big law, making around what your brother and his wife make together. We have since then both moved to the Federal Gov and make about what you make (or just a bit more). Frankly, we both finally feel like we are "living" and can finally take vacations and be with our kids. Would the extra $200k be awesome? you bet! But the stress I had, and the misery my wife had, are not worth that money. We all make trade-offs.

[Anonymous]

I also want to add that the retirement package with the FedGov chips away some of that extra $200k too.

[Anonymous]

Better yet, you can be a Fed family and make 500k (e.g. FDIC jobs).