I’ve been a fed for 13 years within DoD and am in my early 40’s. Not sure when a promotion is on the horizon for me as I’m a top performer.

What are thoughts of leaving the fed for a company like Deloitte?

likehelpfulsmart
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I’m in the same boat. Very limited raises with the federal government and watching inflation reduce the value of my salary all the time.

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I would start interviewing at least. If it’s not at least a 15k bump in pay don’t accept.

likesmart

You opportunity cost is the potential federal retirement you will be giving up. If I understand correctly you will be eligible for a reduced retirement at age 57 for the 13 years you already have. In order to compensate for that you would need to earn a a pretty significant amount over your current and projected pay to self fund the difference.

Napkin math is you need 25-50% more pay in a self funded retirement than in a defined benefit (traditional) retirement. Federal retirement tends toward the 50% end because it is pretty generous and includes cost of living adjustments so in theory inflation proof.

Using the 4% rule you can find out what the value of your defined benefit plan is. The theory is that based on historic market conditions a well diversified portfolio can generate 4% income in perpetuity with no loss of the principal value and accounting for historic inflation. So as an example if you want to generate $40K a year income you need $1m invested. $80K? $2m. You can check out any number of retirement calculators but my guess is they are going to tell you you will need to save/invest $2500 a month to get where you want to be as far as self funding a good retirement.

If moving to a private sector job will pay you an additional $30-35K a year, financially its a push....as long as you are disciplined and actually save it. But there is more to life than money. Job satisfaction and work life balance matter too.

Good luck

likesmart

If you have 30 years of federal service the minimum retirement age (MRA) to pull a pension is 57. If you have 20 years of service MRA is 60. If you have 5 years of service MRA is 62. Idk what this “62 1/2” business is about.

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I’ve been a GS-14 way too long and not sure when a 15 would happen as selections are always pre-determined

likesmart

I last left Federal service as a 14, from what I understand it's easier to get 15s & SES positions within DHS. It all depends on your agency and structure, like the VA hospitals are all lower GS positions but work within the VA Headquarters is more typical of GS levels.

I have been a Fed twice, left for positions at Federal System Inegrators, it all depends on what you're looking for. If it's the higher base pay, you'll get that, but work life balance is better in the government along with overall benefits typically.

likehelpful

Feeling the same. 11 years in and a gs 13 right now. Learning that there are other options that offset the inflation much better than the slow increase of govie life. Also learning private sector has much better retirement.

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You will work 60 hours a week min. No job security. Need to meet your metrics and grow the business

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I just accepted an offer at C1 this week. I’ve been with the fed since I was 19 and I know nothing else but like you said, once you hit 13/14 level promotions really start to thin out. I’m really excited about my new adventure. I say take a look and see what’s out there!!

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Do you look good in a suit? 🧐

funny

Very much yes

uplifting

Then you’ll probably do well over there! 💁🏼‍♀️ They have lots of openings for people with clearances and they’d likely pay you more than you’re making now.

Deloitte is a great company to be with

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What state are you in? I’m in government for 10 years and trying to join any of the big 4 and can’t since they require prior public accounting experience.

As someone who is DoD - adjacent, I say go for it if a money move is your play. I know a few peeps who left Raytheon/ NG for PwC after “bonus” season and are up around 50% more in total comp

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National Laboratory employee here. The match is 3%. Every year we seem to loose a benefit somehow. You can be amazing at your position any get the max allocated raise at 4% if you are lucky and liked. The bell curve used makes it impossible to max

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just curious...what was your starting salary when you first came on and what is it now?

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I just left after 10 years. 50k bump

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What’s the best way to transfer Agencies within the Federal Government? I’m a 12 in a supervisory role and would like to get into a gs 12 ladder to 13 or even 14.

Apply to other agencies, there isn’t anything special you need to do. Just apply. However, there are no ladders above 12. After 12, they are static 13 or 14 with no ladder progressions.

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