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Reply to "Are SEC/CFPB/FDIC/OCC Employees Exempt from Federal Raise Announced by Biden?"
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[quote=Anonymous]While I agree there are issues with the new system where the FDIC is not paying salaries commiserate to their counterparts at other financial regulators, there were major issues with the old system. Under the old system, they placed a heavy value on your existing salary. I was a GS employee brought in under the old system, and for years I was paid $20K less than people on my team and $40-50k less than my counterparts at the FDIC. People I brought in from private were brought in at higher salaries than me. It wasn’t until they did the pay parity using the new system that I received a $50k pay bump. We need to remain competitive with our counterparts, but we also need a pay system that does not exacerbate the disparities in public v. private pay. [/quote]
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