Should I Leave Federal Government for More Money in the Private Sector?

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[@reidloscidem3562]

If money exceeds you're current pay grade and their subsidies, then I say yes GO FOR IT! Money accessed now to plan for future growth is far better waiting 20 years for a pension that might not be fully used since age plays a critical role. At the end of the day, what is your time worth to you? You either serve someone else's dream , or work to make your own dream a reality. Keep hustling and stay hard my friends!

[@annemarierigg3287]

You only get one life. Do what you truly want to do. If it means unlocking the golden handcuffs of federal employment to start somewhere new - be proud of yourself that you had the guts to do it.

[@bryansipes3601]

I hired two gentlemen out of the private sector to become federal employees for much less pay. Their draw was more stability, better benefits, and the federal retirement. At the end of this year, I will be executing my 43-year CSRS retirement in exchange for a private sector job for a few years until Dear Wife retires.

[@arequina]

Im actually thinking about this as well. I retired from the government last month. Going on a long vacation. Then weigh out my options after. I'm only 56 soon to be 57.

[@Vision2life1]

Thank you for explaining this. Going back to the private sector has crossed my mind.

[@Blissful-es1kk]

You are always very clear and concise in your videos. I enjoy working for the fed. I have very good work life balance and enjoy all of the benefits. I also like the consistency of employment that is simply not replicated in the private sector.

[@itguru2037]

After you retire from the federal government definitely go to private sector

[@Verticalpedalgarage]

Total compensation can be looked up on your yearly benefits statement.

[@yvette8809]

Great information and advice. I do like the pension, health benefits and 401K match the Fed government offers.

[@Syth_L0rd]

On the pension, there’s one thing you didn’t mention. You have to pay into it. It’s not free. In the coming years almost everyone will be in the 4.4% category.

[@jeffreyblanton9877]

It’s pretty shocking when you look at a Gov employee annual salary and benefit statement, nothing in the private sector can come close to it in terms of a secure retirement, not to mention the job security that it brings with it. Nothing worse than hearing the story of many that have had to pull from 401ks after a layoff In a downmarket 😢

[@PlanYourFederalBenefits]

Thanks for sharing! It's hard to beat the federal government benefits.

[@b.coxemba6799]

I would definitely add job security. Having a career vs. Job is considered countless. I seen so many people running for the money only to find out - there new subsidies ain't worth dealing with a new boss, their boss doesn't like them, the company stability is in trouble. When you find yourself jobless 2 years later.

[@happilife2222]

I work with the private sector prior to working as a Fed. The private sector pays more. but also more stressful. In general, the benefits of working federal outweigh the higher pay working in the private sector in the long run, especially at retirement. Also, if you want to move around or relocate, the government has a lot of agencies and can go to any state with minimal or not losing federal benefits. It has its own issues, but it is existent in every sector no matter where you go. Just can wait to retire in a few years.

[@AR-di3lw]

i work with the fed on my state you make way more then private

[@Blissful-es1kk]

@@AR-di3lw That's very true.

[@celticmco5672]

No.

[@Overstreets-Outdoors]

I have a question between the VRS retirement and FERS retirement and benefits of State employment and Federal employment

[@nohandlehere55]

If more money AND you feel the work will be satisfying and make you marketable in case of a downturn, then sure! The trick is to take that extra money and save most of it. I have a friend that left and makes around $300K w/ stock benefits...and he lives fugally, so he is set. One thing he also liked is that he doesn't need to carry a clearance and live under a lot of the regulations federal service expects. If you're still young and willing to keep training yourself (assuming an IT career), then yeah, you can do very well in the private sector. It will be hard to leave once you have a family and become more risk-adverse and you start seeing that retirement pension coming.

[@b.coxemba6799]

OMG - career security vs. Job. Talk about risk vs. Rewards. Losing a job 6 months later because your new boss disliked you, or because convid, or company downturn - they hired you for your skill level, not because they want to be training you. This isn't the 80's. Good luck with that theory. 😂

[@nohandlehere55]

@@b.coxemba6799 Not sure what point you are making, seems a bit rambly. I think you are saying should someone stay for the stability of govt. work vs. the relative instability that comes in industry. Well, sure, that is the trade off for someone to consider for themselves. The tech industry is such that if you're agile and keep up on technology, you'll be in demand. So sure, govt. service isn't a bad gig and pays decent, however, private industry has more upside and risk. Again, speaking more on an IT/Comp Sci view and varies by career. But you do you as there is no theory here...just one guy's opinion.

[@rjmurray5128]

Private sector companies have one goal that’s to turn a profit with that will mean more stress to produce, wouldn’t do it unless they offer a good benefits package, buyers beware!

[@AlongtheRiverLife]

Not no, but hell no! Anyone who leaves the federal government is a fool. Once you sign on the line to work for the federal government you won the lottery!

[@jd1811]

I agree and every month my pension check shows up, I am extremely grateful for the opportunities I had in my 30 year Federal government career, totally worth it!

[@joselitostotomas8114]

Advantage to working in the private sector: more money Advantage to working in the government: 1. You're not going to fired just like that. A very stable job through good times and bad. The government has to find for you another appropriate position if there is a downsizing. 2. You can join a union, which has it's own benefits. 3. Annual leave and sick leave. You only get 14 days annual leave in private industry. You get a maximum of 12 weeks of annual leave in government. The money depends on how long you're in the company before you have to leave.