Possible life changing decision

[Pakman]

I've have recently come across one of those branches in life and want to make the right choice. I recently got offered a federal position in the government coming in as a GS12 Step 1. The starting salary is $67,767. It's about what I currently make with the company I work for now who is a contractor to the same federal government agency. Anyways, my company just upped the ante stating they wanted to move me to another contract on the same site, and I would be making over $80K if I include xmas and performance bonuses if I stay with them. I've been with this company for over 5 years now.

My dilemma is that I have already agreed to take the federal position and it starts on the 20th of this month. I know having a federal job means job security, but I know I'll make more in private industry. I just turned 30 this year. I'm single with no kids and I own my own house. At this point in my life, I'm leaning toward more money, but at the same time I feel like it'd be a waste to throw away a perfect opportunity to get into the federal government.

 

[JImmyK]

Take the federal job!!! Money is one thing, but trust me that evens out in the long run (5-10 yrs at your stage since your starting at a GS12).

Furthermore you have a much better quality of life, working 10 hours for 4 days taking fridays off, never having to stay late.

Im also in the DC area and my dad who sold his business and decided to slow down got a county/govt job and said it was the best thing he has EVER EVER done.

He said he def made more in private industry BUT he said it was stressful, longer hours, tougher bosses, and less security.

 

[dustmann]

Government jobs almost always have the best benefits, and as JImmyK said, it'll likely be less stressful and you'll most likely not be enslaved by your boss. Besides, it sounds like you won't be taking a hit in your income, so it's win win.

 

[purepolly]

Go with the govt job. For me it comes down to having a decent pension and 401K - and the government is hard to beat in those areas. Also, I've found my coworkers for the most part are very happy and enjoy working for the govt as the staffing ratios are considerably better than the local non-govt facilities.

I did find the cost of health benefits was on par with industry - so no great bargain was there, but the options for coverage where tremendous. l found it rather shocking as my brother is able to get family BC/BS and dental for about $40 a month at a local hospital and the govt doesn't even come close to matching those rates.

 

[NoMoMoney]

I'm leaving a 12 position to go to grad school... in order to pry me away from my job I needed to get into one of the top business schools to make it worth it. I also gave up a 13 when I applied and got in. I'll be more then happy in 10-15 years to come back to the gov't. I'm 27 right now, I figure I'll come back in my 40's and ride into the sunset!

 

[Wapp]

OP: Go for it. Most of us contractors see the gov't job as the pot of gold at the end of the rainbow.

 

[robphelan]

at 30, you're still young. i would take the higher paying job right now and settle into a gov't job later.

you don't want to get complacent too young.

 

[Pakman]

As a side note, my current benefits with my current job include 100% medical (bluecross ppo), 100% dental, they match 50% upto 6% in my 401k, and get 3% of my salary in profit sharing thrown into my 401k annually. And since I've been here over 5 years, I accrue about 8 hrs of leave every 2 weeks.

 

[imported_Imp]

Federal is worth it for the name alone. Now you will be working almost directly for the man.

 

[Pakman]

Just sent my resignation letter. Thanks for everyone's input.

 

[mugs]

Don't government jobs have great pensions?

 

[dabuddha]

Govt job FTW!

I've been at mine for 7 years now and the benefits are great. Currently getting 6 hours annual leave, 4 hours sick leave every pay period. All holidays are paid holidays. And of course, the job security is nice Make sure you put at least 5% into your TSP since that is how much they'll match.

 

[NoMoMoney]

Pension is 1 - 1.1% of your salary for every year you work. % is based on the average of your "high 3". The 3 highest salaries you made during your work. I think it gets adjusted for cost of living as well. I think you lose locality pay with your pension as well.

In addition you also get social security, which may be worthless by the time OP retires. Also get 100% match for 5% of your salary in the TSP (401K equivalent). Make sure you start that up right away!

 

[Pakman]

When I called them to tell them the news, they upped it to $85K plus bonuses. Hope I made the right choice.

 

[axelfox]

Originally posted by: Pakman
Just sent my resignation letter. Thanks for everyone's input.

NOO DON'T DO IT.






























j/k.

 

[pontifex]

unless you're guarranteed those bonuses at the same amount every year (which is highly unlikely), don't even put them into the equation.


also, wouldn't you want the stability when you get older because its harder to get a job when you're old? usually its the younger people moving around a lot. plus, when you're young, you need the money to get established - home, car, etc.

 

[imported_Lothar]

Originally posted by: Pakman
I've have recently come across one of those branches in life and want to make the right choice. I recently got offered a federal position in the government coming in as a GS12 Step 1. The starting salary is $67,767. It's about what I currently make with the company I work for now who is a contractor to the same federal government agency. Anyways, my company just upped the ante stating they wanted to move me to another contract on the same site, and I would be making over $80K if I include xmas and performance bonuses if I stay with them. I've been with this company for over 5 years now.

My dilemma is that I have already agreed to take the federal position and it starts on the 20th of this month. I know having a federal job means job security, but I know I'll make more in private industry. I just turned 30 this year. I'm single with no kids and I own my own house. At this point in my life, I'm leaning toward more money, but at the same time I feel like it'd be a waste to throw away a perfect opportunity to get into the federal government.

Snub your company's offer.

If they had offered you over $80K WITHOUT xmas or performance bonuses then it's worth considering.
They are quoting the maximum you can get, not the minimum.

 

[SludgeFactory]

Benefits and less stress FTW