Federal job vs contractor job in mid-40s

[Anonymous]

I've worked in the corporate sector and as a federal contractor for most of my career, and may have the opportunity to take a government job for the first time. A close friend is recruiting me for a position within his agency and he seems confident that I have a good shot at the position.

On one hand, as a single 46 year old mom with kids, I love the idea of having a stable fed job with a pension. But the stability and pension are the only advantages that I'm seeing. At my current job, I'm paid slightly more (guessing the fed job would be 15-20K less), and the commute is better, but the main reason I hesitate to take a fed job is being forced to stay within the government just to get a pension. I enjoy working and hope to work for 15-20 more years, but I'm ambitious and hard-working, and the idea of being stuck in a bureaucracy isn't that appealing. I like the option of being able to move around to different positions and challenges with different people (in a new job) if I want to.

So here's my question: given my preference for dynamic, challenging environments, but then my need for stability/retirement income as a single mom, would it make sense for me to consider this fed job? Would the pension be worth it at my age? I know age discrimination is real, but I also know that corporations and private firms desperately want women in leadership positions, so I also think being an older woman can be an advantage. Appreciate advice from anyone who's been on either side of this decision.

[Anonymous]

I would say first get he job and then see if you want it because I’ve seen people sure they could get in and they don’t (and I’ve seen the opposite also).

No one will force you to do anything. You don’t have to stay for the pension. That said, it’s best to stay at least 3 years so that you vest your TSP matching and solidify your career status to have more ability to apply for other Federal jobs later. You’ll be giving yourself more options as your career progresses and then if you do leave you will have career status in case you choose to return. It’s true that we don’t get a huge payout as we move up in our careers, but that doesn’t mean there is not plenty of challenge to satisfy an ambitious mind. Only you know how much the money matters to you vs. the stability as you get older.

[Anonymous]

Anonymous wrote:I've worked in the corporate sector and as a federal contractor for most of my career, and may have the opportunity to take a government job for the first time. A close friend is recruiting me for a position within his agency and he seems confident that I have a good shot at the position.

On one hand, as a single 46 year old mom with kids, I love the idea of having a stable fed job with a pension. But the stability and pension are the only advantages that I'm seeing. At my current job, I'm paid slightly more (guessing the fed job would be 15-20K less), and the commute is better, but the main reason I hesitate to take a fed job is being forced to stay within the government just to get a pension. I enjoy working and hope to work for 15-20 more years, but I'm ambitious and hard-working, and the idea of being stuck in a bureaucracy isn't that appealing. I like the option of being able to move around to different positions and challenges with different people (in a new job) if I want to.

So here's my question: given my preference for dynamic, challenging environments, but then my need for stability/retirement income as a single mom, would it make sense for me to consider this fed job? Would the pension be worth it at my age? I know age discrimination is real, but I also know that corporations and private firms desperately want women in leadership positions, so I also think being an older woman can be an advantage. Appreciate advice from anyone who's been on either side of this decision.

Also if you are in DC you have lots of options for moving to different agencies as a fed. It’s getting in that is tough. I would take the security in a heartbeat. If you plan to work until your 60s it is a much safer place.

[Anonymous]

Agree with not counting your chickens— even assuming your friend is right that the hiring official would like to hire you it’s not that unusual to have to cancel an opening because the people coming thru the cert as highly scored aren’t the people the hiring officer thinks are right for the job.

Whether a job is challenging varies a lot across the fed govt but in general there is a lot more challenge and responsibility than most people expect.

Also coming to the feds late in your career is a great time— work 10 years/until you are 57 and you have retiree health benefits for life, which might be almost as valuable as your pension. Compare that to the increasing risk of age discrimination over that same time period and to me, for a single parent (with less room for error) it’s a no brainer to move.

[Anonymous]

The economy will go to crap at some point in the next 20 years. It'd truly suck to be an unemployed 50s something too young to retire but too old to hire. Stability is priceless.

[Anonymous]

Does the federal worker pension program include healthcare? TBH at this point in my life I would do almost anything to ensure access to quality healthcare after my working years.

[Anonymous]

Anonymous wrote:The economy will go to crap at some point in the next 20 years. It'd truly suck to be an unemployed 50s something too young to retire but too old to hire. Stability is priceless.

+1 you’re a 46 yo woman. Ageism + sexism are very real.

[Anonymous]

Anonymous wrote:I've worked in the corporate sector and as a federal contractor for most of my career, and may have the opportunity to take a government job for the first time. A close friend is recruiting me for a position within his agency and he seems confident that I have a good shot at the position.

On one hand, as a single 46 year old mom with kids, I love the idea of having a stable fed job with a pension. But the stability and pension are the only advantages that I'm seeing. At my current job, I'm paid slightly more (guessing the fed job would be 15-20K less), and the commute is better, but the main reason I hesitate to take a fed job is being forced to stay within the government just to get a pension. I enjoy working and hope to work for 15-20 more years, but I'm ambitious and hard-working, and the idea of being stuck in a bureaucracy isn't that appealing. I like the option of being able to move around to different positions and challenges with different people (in a new job) if I want to.

So here's my question: given my preference for dynamic, challenging environments, but then my need for stability/retirement income as a single mom, would it make sense for me to consider this fed job? Would the pension be worth it at my age? I know age discrimination is real, but I also know that corporations and private firms desperately want women in leadership positions, so I also think being an older woman can be an advantage. Appreciate advice from anyone who's been on either side of this decision.

No one can answer that for you OP. Those are two different forces pulling opposite directions. Govt retirement benefit is more than just pension though. You need to compare the entire pkg.

[Anonymous]

Sometimes they can bring you in at a higher step, like a 4 or 5, to try to match your current salary.

[Anonymous]

My Federal job is interesting and challenging. Your friend should be able to tell you what the job at their agency is like day to day. However, remember that, while your friend might be trying to get you to apply, they aren't "recruiting" you (or giving you the job); you'll have to be selected through the hiring process.

[Anonymous]

I thought the federal government stopped giving pensions to new employees?

[Anonymous]

Anonymous wrote:I thought the federal government stopped giving pensions to new employees?

you thought wrong.

[Anonymous]

Anonymous wrote:Does the federal worker pension program include healthcare? TBH at this point in my life I would do almost anything to ensure access to quality healthcare after my working years.

It does- insurance options are fantastic. You need to be qualified for and take the retirement in order to have access.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I thought the federal government stopped giving pensions to new employees?

you thought wrong.

It's just much reduced, not like in the old boomer days.

[Anonymous]

Anonymous wrote:The economy will go to crap at some point in the next 20 years. It'd truly suck to be an unemployed 50s something too young to retire but too old to hire. Stability is priceless.

Probably in the next 5. I'd go fed, OP.

Honestly if you're only making $20k more in the private sector I don't think this is a hard call. It's when the contracting jobs pay $50k more that you have to give real consideration to the dollar value that you assign to job stability.