| While I agree with some of your points regarding salary, this is all just wrong: > They have expensive health benefits Hmm… maybe more expensive when compared to private tech industry jobs, but cheap compared to owning your own business. > 13 days of PTO a year Starts at 13 days for first 2 years, then is 20 days from 3-15, then 26 days from 15 on. Plus medical leave. Plus it’s usually easy to get people to donate leave in the event of a medical emergency. > put a huge chunk of their paycheck (almost 5%) into a mandatory pension plan Not mandatory at all. The government puts in 1% for folks automatically. They match up to 5% total. > that consistently underperforms the market It literally is the market. They have funds for S&P 500 and Dow total market, plus a few others, all at super low fees. None of these funds are speculative other than the total market that the fund represents. |
* Federal Pay (GS-12): $100,000 * Startup Pay: $150 base + $25 k bonus + equity
* Federal Health Insurance (United mid-tier plan, no family): $2,500/year * Startup Insurance (United mid-tier plan, no family): $0/year
* Federal Leave: 20 days (after 4 years in federal government) * Startup Leave: Unlimited
* Federal Sick Leave: 13 days * Startup Sick Leave: Unlimited
The pension I'm talking about actually isn't the TSP (which is fine, but slightly more expensive than comparable Vanguard funds).
All federal employees must contribute 4.4% of their salary to the FERS now which is taken out of their base pay just like their health/dental/fegli. It used to be 0.8% but congress gutted it a few years ago.
FERS takes decades before it's more than pocket change and the same money invested in the market would yield higher expected returns without requiring you to work 20 years in gov to benefit from it.