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Reply to "How much of a salary bump would you need to leave the gov?"
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[quote=Anonymous]I am Foreign Service, and we are under a different personnel system from the rest of the Civil Service. For me, I think leaving the Foreign Service for the private sector IN THE UNITED STATES would necessitate a fairly big jump in salary and compensation. In reality, I would only make the jump for a private overseas job with a full expat package or to relocate to the U.S. because I am sick of the FS lifestyle. My total compensation, not including my Foreign Service lifestyle benefits like private education for the kids, housing, etc., are upwards of $140K. Add to this my housing at post and educational allowance for my DD, and we are approaching compensation upwards of $200K, depending on whether I send my DD to school at post or whether there is a boarding school option. Not included in the $140K are my hardship differentials, COLA allowances and language incentive differential and separate maintenance allowances for unaccompanied tours. These all add another 45 percent on top of my base salary of $96000. COLA and SMA are not taxed. At my current savings rate in the TSP, I estimate I will have close to $1 million saved for retirement by the time I am actually ready to retire, which should generate a decent monthly income. Add to that at least $3K per month from the fixed pension, and I figure I can get between $7K - $10K per month in retirement. I am not sure at this stage in the game that I could do the same with a private sector move. Additional benefits: 20 days paid vacation, 30 days home leave every two years, paid R & R travel to the U.S. or another location depending on post of assignment. I would say private sector domestic cannot compete. [/quote]
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