Compensation and pension at Federal Reserve

[Anonymous]

Anonymous wrote:

Anonymous wrote:What’s the easiest offices at fed for lawyers

DCCA

Agreed. CFPB does the heavy lifting. DCCA follows the leader. First answer to any request: no/can’t be done/go away.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Is the Fed really offering 2.5% increase a year? Will they get the 4.6% like the rest of the fed gov?Any bonus potential?

Merit and variable pay were approved weeks ago, and the base merit increase was included in that announcement.

What were they on average? Considering a lateral move to the board from a fin reg and wondering if it is worth it.

Neither merit increases nor variable pay applies to those hired after July 1st of each year. Variable pay is set by each division based on an individual's performance rating (and, fyi, variable pay is not included in salaries that are disclosed to FOIA requests).

Variable pay is quite substantial for attorneys, economists, and officers. For these categories, Board pay will be higher than other financial regulators. It's is less significant for all others.

What percentage or amount is the variable pay typically for economists and attorneys? Does the year-end bonus include variable pay?

Do you have an offer? Ask HR. If you work for the Fed, you already know.

Not PP, but seems pretty obvious that poster does not currently work for the Fed and is seeking information to help inform a decision about potential employment. Why would you respond that way?

PP the year end bonus is the variable pay. Same thing.

Because PP isn't considering employment at the Board, they're trying to troll. The pay scales on the web provide plenty of info for a potential applicant. Specific questions about variable pay and pension are addressed, like any other employer, at the offer stage. Sorry that I don't intend to feed the trolls.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Is the Fed really offering 2.5% increase a year? Will they get the 4.6% like the rest of the fed gov?Any bonus potential?

Merit and variable pay were approved weeks ago, and the base merit increase was included in that announcement.

What were they on average? Considering a lateral move to the board from a fin reg and wondering if it is worth it.

Neither merit increases nor variable pay applies to those hired after July 1st of each year. Variable pay is set by each division based on an individual's performance rating (and, fyi, variable pay is not included in salaries that are disclosed to FOIA requests).

Variable pay is quite substantial for attorneys, economists, and officers. For these categories, Board pay will be higher than other financial regulators. It's is less significant for all others.

What percentage or amount is the variable pay typically for economists and attorneys? Does the year-end bonus include variable pay?

Do you have an offer? Ask HR. If you work for the Fed, you already know.

Not PP, but seems pretty obvious that poster does not currently work for the Fed and is seeking information to help inform a decision about potential employment. Why would you respond that way?

PP the year end bonus is the variable pay. Same thing.

Because PP isn't considering employment at the Board, they're trying to troll. The pay scales on the web provide plenty of info for a potential applicant. Specific questions about variable pay and pension are addressed, like any other employer, at the offer stage. Sorry that I don't intend to feed the trolls.

So...where can someone from a finreg who is trying to decide whether to take an offer from the FRB, or even whether it is worth going through the excruciatingly long process, find information about VP? Seems like it is pretty relevant to that decision, no?

And when you say "troll", what exactly do you mean? What angle or narrative do you think PP is trying to push?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Is the Fed really offering 2.5% increase a year? Will they get the 4.6% like the rest of the fed gov?Any bonus potential?

Merit and variable pay were approved weeks ago, and the base merit increase was included in that announcement.

What were they on average? Considering a lateral move to the board from a fin reg and wondering if it is worth it.

Neither merit increases nor variable pay applies to those hired after July 1st of each year. Variable pay is set by each division based on an individual's performance rating (and, fyi, variable pay is not included in salaries that are disclosed to FOIA requests).

Variable pay is quite substantial for attorneys, economists, and officers. For these categories, Board pay will be higher than other financial regulators. It's is less significant for all others.

What percentage or amount is the variable pay typically for economists and attorneys? Does the year-end bonus include variable pay?

Do you have an offer? Ask HR. If you work for the Fed, you already know.

Not PP, but seems pretty obvious that poster does not currently work for the Fed and is seeking information to help inform a decision about potential employment. Why would you respond that way?

PP the year end bonus is the variable pay. Same thing.

Because PP isn't considering employment at the Board, they're trying to troll. The pay scales on the web provide plenty of info for a potential applicant. Specific questions about variable pay and pension are addressed, like any other employer, at the offer stage. Sorry that I don't intend to feed the trolls.

Upthread PP said they were at a finreg. So let's say they are a FR-27 equivalent analyst. That means they could be making, for example, 165K at OCC.
The published pay scale for FR-27 is 127-219K. There is ZERO published information about VP.

So what they are able to know at the point they decide whether to apply or interview is that they could make 40K less or 60K more. And that doesn't even account for VP. If they knew that VP was likely to be around 15% of base, they would know that the LEAST they could make is 150K, and that they would get the Fed Pension.

How is this not a valid question?



(https://careers.occ.gov/pay-and-benefits/salary/index-occ-salary-structure.html)

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Is the Fed really offering 2.5% increase a year? Will they get the 4.6% like the rest of the fed gov?Any bonus potential?

Merit and variable pay were approved weeks ago, and the base merit increase was included in that announcement.

What were they on average? Considering a lateral move to the board from a fin reg and wondering if it is worth it.

Neither merit increases nor variable pay applies to those hired after July 1st of each year. Variable pay is set by each division based on an individual's performance rating (and, fyi, variable pay is not included in salaries that are disclosed to FOIA requests).

Variable pay is quite substantial for attorneys, economists, and officers. For these categories, Board pay will be higher than other financial regulators. It's is less significant for all others.

What percentage or amount is the variable pay typically for economists and attorneys? Does the year-end bonus include variable pay?

Do you have an offer? Ask HR. If you work for the Fed, you already know.

Not PP, but seems pretty obvious that poster does not currently work for the Fed and is seeking information to help inform a decision about potential employment. Why would you respond that way?

PP the year end bonus is the variable pay. Same thing.

Because PP isn't considering employment at the Board, they're trying to troll. The pay scales on the web provide plenty of info for a potential applicant. Specific questions about variable pay and pension are addressed, like any other employer, at the offer stage. Sorry that I don't intend to feed the trolls.

Upthread PP said they were at a finreg. So let's say they are a FR-27 equivalent analyst. That means they could be making, for example, 165K at OCC.
The published pay scale for FR-27 is 127-219K. There is ZERO published information about VP.

So what they are able to know at the point they decide whether to apply or interview is that they could make 40K less or 60K more. And that doesn't even account for VP. If they knew that VP was likely to be around 15% of base, they would know that the LEAST they could make is 150K, and that they would get the Fed Pension.

How is this not a valid question?



(https://careers.occ.gov/pay-and-benefits/salary/index-occ-salary-structure.html)

If you are a regular staff member and not an economist or attorney, your bonus will not exceed 10%. More likely it’s somewhere between 6-8%. Non-economist/attorney managers get 11-13%. Economists and attorneys get 15-20%. Officers get 15-25%.

[Anonymous]

Anonymous wrote:

Anonymous wrote:What’s the easiest offices at fed for lawyers

If you want to be classed as a lawyer, you pretty much need to be in the legal division. The supervision and regulation division will hire lawyers, but does not class them as lawyers. Plus right now it is a dysfunctional snake pit. Avoid.

Ha - are you talking about S&R or Legal?

I have my thoughts…

[Anonymous]

What r ur thoughts ?

[Anonymous]

Anonymous wrote:

Anonymous wrote:What’s the easiest offices at fed for lawyers

DCCA

Toxic and dysfunctional. Unless you are looking to leave in one year, not worth it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What’s the easiest offices at fed for lawyers

DCCA

Agreed. CFPB does the heavy lifting. DCCA follows the leader. First answer to any request: no/can’t be done/go away.

Some level of dysfunction can be tolerable. What is painful is how… untalented the people in DCCA are. Like embarrassingly stupid. I’m trying to find a more tactful way of saying this, but maybe just the plain facts will have to do. No one who works there is respected.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What’s the easiest offices at fed for lawyers

DCCA

Agreed. CFPB does the heavy lifting. DCCA follows the leader. First answer to any request: no/can’t be done/go away.

Some level of dysfunction can be tolerable. What is painful is how… untalented the people in DCCA are. Like embarrassingly stupid. I’m trying to find a more tactful way of saying this, but maybe just the plain facts will have to do. No one who works there is respected.

Ooohh! The DEI police are coming for you. Management is terribly permissive in catering to complainers. But, the question was “What’s the easiest Fed division for attorneys.” I think we agree.

[Anonymous]

So even if it is dynsfunctional, it is known as the easiest office?

[Anonymous]

Anonymous wrote:So even if it is dysfunctional, it is known as the easiest office?

Define "easy"

Do you know anything about consumer compliance? CRA, civil money penalties, etc?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What’s the easiest offices at fed for lawyers

If you want to be classed as a lawyer, you pretty much need to be in the legal division. The supervision and regulation division will hire lawyers, but does not class them as lawyers. Plus right now it is a dysfunctional snake pit. Avoid.

Ha - are you talking about S&R or Legal?

I have my thoughts…

S&R. Legal has some sanity left.

[Anonymous]

Anonymous wrote:

Anonymous wrote:What’s the easiest offices at fed for lawyers

If you want to be classed as a lawyer, you pretty much need to be in the legal division. The supervision and regulation division will hire lawyers, but does not class them as lawyers. Plus right now it is a dysfunctional snake pit. Avoid.

Be very careful accepting a job in S&R.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What’s the easiest offices at fed for lawyers

If you want to be classed as a lawyer, you pretty much need to be in the legal division. The supervision and regulation division will hire lawyers, but does not class them as lawyers. Plus right now it is a dysfunctional snake pit. Avoid.

Be very careful accepting a job in S&R.

If your boss gets on the wrong side of senior management, the sh#t flows downhill. I’ve seen senior management drive out solid staff just to punish the mid level management they really want to fire (but can’t for various reasons). Tread carefully and really try to know who you’re working for, whether they are favored or hater by senior mgmt, etc.

Some folks are holding on for dear life.