Anonymous
Post 05/14/2020 13:00     Subject: Re:Joining SEC from another agency on GS pay scale
The extra 3% match that a prior poster mentioned is a big incentive and would probably amount to several thousand per year.
Anonymous
Post 05/14/2020 10:04     Subject: Re:Joining SEC from another agency on GS pay scale
Anonymous wrote:Thank you for all the meaningful feedback. I'll let you all know in a couple weeks how it goes. Regarding taking a paycut, I may still do it if it's very close to my current salary, but even that is doubtful, understanding that including the benefits would boost the SEC total package. The reason is, going back to my original post, I don't dislike my current job. In fact, I quite enjoy it and the people I work with. The SEC position just seemed interesting and would provide additional experience/brand. Whether I stay at my current agency as a GS-15 or go to the SEC as an SK-14, I don't plan on staying in government for the long-term so I'm not really sold on the fact that the pay band for SK-14 tops out way higher than the GS-15 pay band. Given that, as another poster already mentioned, I would enjoy better total annual raises in the GS-15 pay band (COLA + step increase which I've gotten every year either through time in grade or QSI), I would almost certainly fall farther behind in the short-term if I were to take the pay cut to join the SEC. The advantage of the higher upper limit for the SK-14 pay band would only matter if I stay in government long enough such that I top out at GS-15 and continue staying there.


Once you hit GS-15 Step 7 and above, those annual increases become MUCH smaller because of the EX pay cap. I'm a GS-15, Step 8, and didn't get much.
Anonymous
Post 05/14/2020 09:43     Subject: Re:Joining SEC from another agency on GS pay scale
Thank you for all the meaningful feedback. I'll let you all know in a couple weeks how it goes. Regarding taking a paycut, I may still do it if it's very close to my current salary, but even that is doubtful, understanding that including the benefits would boost the SEC total package. The reason is, going back to my original post, I don't dislike my current job. In fact, I quite enjoy it and the people I work with. The SEC position just seemed interesting and would provide additional experience/brand. Whether I stay at my current agency as a GS-15 or go to the SEC as an SK-14, I don't plan on staying in government for the long-term so I'm not really sold on the fact that the pay band for SK-14 tops out way higher than the GS-15 pay band. Given that, as another poster already mentioned, I would enjoy better total annual raises in the GS-15 pay band (COLA + step increase which I've gotten every year either through time in grade or QSI), I would almost certainly fall farther behind in the short-term if I were to take the pay cut to join the SEC. The advantage of the higher upper limit for the SK-14 pay band would only matter if I stay in government long enough such that I top out at GS-15 and continue staying there.
Anonymous
Post 05/13/2020 17:23     Subject: Re:Joining SEC from another agency on GS pay scale
Anonymous wrote:
Anonymous wrote:I don't work at the SEC, but I belief they offer paid dental/vision, plus you receive an additional match on your TSP. I could be wrong, but those could very well negate any loss in pay. From past readings on this board, I think most people say you should jump at any opportunity with SEC, FDIC, CFTC, etc.


I'm at the SEC. Dental/vision is fully paid -- for the "regular" plan, you pay if you want the fancier plan. For health insurance we have an "extra" subsidy beyond what GS employees get; IDK what it is offhand but it's something like the gov't putting in an extra $25 or $50 per paycheck so your premium per pay period is lower. And there's an extra 3% match.

That being said, it's the WORST job I have had and I can't wait to leave. But at least I'm making 200k+ for a government job.


Why is it so terrible? Which division are you in?
Anonymous
Post 05/13/2020 17:19     Subject: Joining SEC from another agency on GS pay scale
Anonymous wrote:negotiate to equal or slightly higher pay. crazy to take a paycut. report back what they offered you please.


You would be crazy not to take it, even if it were a short term paycut. But it isn’t likely to be one.

People who I have known who have made that jump generally got $10-20k more than their GS job.

Either way, the 14 cap is so much higher than the GS cap it would be worth it anyway. Raises have generally been better, although the new CBA may change that somewhat.
Anonymous
Post 05/13/2020 17:14     Subject: Re:Joining SEC from another agency on GS pay scale
Anonymous wrote:I don't work at the SEC, but I belief they offer paid dental/vision, plus you receive an additional match on your TSP. I could be wrong, but those could very well negate any loss in pay. From past readings on this board, I think most people say you should jump at any opportunity with SEC, FDIC, CFTC, etc.


I'm at the SEC. Dental/vision is fully paid -- for the "regular" plan, you pay if you want the fancier plan. For health insurance we have an "extra" subsidy beyond what GS employees get; IDK what it is offhand but it's something like the gov't putting in an extra $25 or $50 per paycheck so your premium per pay period is lower. And there's an extra 3% match.

That being said, it's the WORST job I have had and I can't wait to leave. But at least I'm making 200k+ for a government job.
Anonymous
Post 05/13/2020 17:03     Subject: Re:Joining SEC from another agency on GS pay scale
You should be able to at a minimum get retain pay and not make any less - if there is room in the GS14 band above what you currently make.
Anonymous
Post 05/13/2020 16:58     Subject: Re:Joining SEC from another agency on GS pay scale
I don't work at the SEC, but I belief they offer paid dental/vision, plus you receive an additional match on your TSP. I could be wrong, but those could very well negate any loss in pay. From past readings on this board, I think most people say you should jump at any opportunity with SEC, FDIC, CFTC, etc.
Anonymous
Post 05/13/2020 14:04     Subject: Re:Joining SEC from another agency on GS pay scale
MagicBeans wrote:Follow-up question: how do raises at the SEC work? What was the 2020 raise percentage? It’s really transparent and predictable under the GS scale but I can’t find anything for the financial regulatory agencies.


It's set each year now. There used to be a comp agreement but it expired. There are no steps so, for example, this year we actually got less than the GS scale when you factor in the avg step increase + COLA. I think our raise was 3.5% + 1.16% as compared to 3.52% + avg step increase of 1.5% on the GS scale. Not bad but you are beholden to the agency for your raise and if the budget gets cut you could end up with nothing vs. guaranteed steps at a regular agency.
Anonymous
Post 05/13/2020 14:00     Subject: Re:Joining SEC from another agency on GS pay scale
MagicBeans wrote:Will do once I hear back. All 10 years of my experience are directly relevant/specialized (or so I think).


Sorry if I was unclear but relevant and specialized are two different categories on the pay setting matrix. You can try to negotiate for more but you probably won't get it unless they screwed up applying the matrix (which, I can assure you does happen with some frequency). Unfortunately, you probably won't know that until you start. Just as a ballpark you can think of the pay range as encompassing a 20 year career so you should be approximately at the midpoint of the range IF your experience is relevant and a little higher if specialized.
MagicBeans
Post 05/13/2020 13:58     Subject: Re:Joining SEC from another agency on GS pay scale
Follow-up question: how do raises at the SEC work? What was the 2020 raise percentage? It’s really transparent and predictable under the GS scale but I can’t find anything for the financial regulatory agencies.
MagicBeans
Post 05/13/2020 13:54     Subject: Re:Joining SEC from another agency on GS pay scale
Will do once I hear back. All 10 years of my experience are directly relevant/specialized (or so I think).
Anonymous
Post 05/13/2020 13:52     Subject: Joining SEC from another agency on GS pay scale
negotiate to equal or slightly higher pay. crazy to take a paycut. report back what they offered you please.
Anonymous
Post 05/13/2020 13:49     Subject: Joining SEC from another agency on GS pay scale
It depends on whether what you are doing is considered relevant, specialized or not relevant experience. If your experience is not relevant you will start at the bottom of the scale and take a paycut.
MagicBeans
Post 05/13/2020 13:45     Subject: Joining SEC from another agency on GS pay scale
Hello everyone, I just got a verbal offer for an SEC SK-14 level job, with salary information coming in a couple weeks. I am currently a GS-15 in my agency with about 10 years of total experience. It sounded like on the phone that the HR person was preparing me mentally for a pay cut. Given that the SK-14 pay band’s upper limit is way above the GS-15 upper limit (and even more so above my salary since I am not yet at the top of the GS-15 pay band), how likely will I have to take a pay cut to work at the SEC? The work seems interesting but I don’t dislike my job, nowhere near enough to take a pay cut. TIA.