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[quote=Anonymous][quote=Anonymous]There isn't a black and white answer to is a fed job REALLY better 1. Pension --- Do the math (this may or may not be a perk depending on your age and salary) - you have to contribute 4.4% to FERS ---In my case -- if I put 4.4% of my salary into my 401k or TSP it would likely be equal to 1M in 30 years (depending on annual rate of return of course) , my FERS payment will likely be roughly 61k annually (depending on where I land for my top 3). That means to break even I need to live to 81... not bad to have, but certainly not worth jumping ship for. 2. Benefits - Compare your plans. My benefits as a contractor were getting more expensive AND more watered down every year - the government has great benefits at a reasonable cost. 3. Leave - Everyone says Feds have good leave, but I was getting 15 days as a contractor and would have jumped up to 20 after 5 years, so I think this may be a wash depending on your employer 4. Salary -- My contractor had completely stopped doing annual pay increases -- The only way to get a real salary bump was to leave or to get a serious promotion. You salary will raise a lot quicker in the government just by staying in your seat. ( https://www.govexec.com/pay-benefits/2022/03/biden-proposed-raise-federal-workers-2023/363666/ ) -- 22k is a big salary hit, but I think 10 or so will come out in the wash by year 3. [/quote] Leave is always tricky. I bet you were getting 20 PTO while Feds get 15 Annual And 11 sick. Feds top out at 26 which I have never seen a contractor giving over 30. [/quote]
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