Want to get rich? Work for feds

#26
#26
BigPapaVol said:
but those pension plans are an accounting stroke, merger or bankruptcy from kaput.

When I was in grad school the FBI's white collar crime unit recruited pretty hard there and the pay packages were very competitive on the front end, but no way they could keep up long term. The way they dealt with that was retirement packages that are strong and you know they're worth the paper they're printed on. They were clear on the front end that 40 hours wasn't what they were looking for, however.
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Yes, on the private pensions. That's why I didn't put all that much weight into them.

Your second paragraph is a good explanation, too. I can say about the 40 hours that I know of a few places in DC where the work week is highly variable, work hours can balloon depending on the circumstances (and tend to always be over 40), and you can be called in at random times. With that said, I've also been around some places that would look at your like you were insane if you asked them to work past 44 or so hours in a week. There are different micro-cultures at various organizations as well.

Something we haven't mentioned either is employee stock programs. While this may or may not be worth anything, it's another potential area for large gains in the private sector. Are those always convertible into other stock upon the day of issue, or do some companies require you to hold onto them?
 
#28
#28
droski said:
the agency i'd be working for pays 25% more for the same jobs than other agencies in california. there is no question they are screwing the taxpayer.
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You situation is different then mine, I would easily make at least 10-20% more working in the private industry doing the same exact thing as I currently do for the Department of the Army.
 
#29
#29
there is a reason why california is far more screwed than other states and this is one of the primary ones.
 
#30
#30
TennTradition said:
Yes, on the private pensions. That's why I didn't put all that much weight into them.

Your second paragraph is a good explanation, too. I can say about the 40 hours that I know of a few places in DC where the work week is highly variable, work hours can balloon depending on the circumstances (and tend to always be over 40), and you can be called in at random times. With that said, I've also been around some places that would look at your like you were insane if you asked them to work past 44 or so hours in a week. There are different micro-cultures at various organizations as well.

Something we haven't mentioned either is employee stock programs. While this may or may not be worth anything, it's another potential area for large gains in the private sector. Are those always convertible into other stock upon the day of issue, or do some companies require you to hold onto them?
Click to expand...
Most employee stock issues are restricted and require a vesting period. Options are the same or are issued way out of the money. Most are simply restricted.
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#31
#31
at my old company if you decided to sell your stock or options after they vested you got a personal call from the CEO asking you why you were doing so and explaining that they weren't being loyal. personally i went ahead and sold it anyway which didn't exactly make me too popular with my manager. some poor bastards actually bought the bs and lost a lot of their net worth during the financial collapse.
 
#32
#32
BigPapaVol said:
Most employee stock issues are restricted and require a vesting period. Options are the same or are issued way out of the money. Most are simply restricted.
Posted via VolNation Mobile
Click to expand...

I only got the details of the employee stock program from one place I was looking at. You could actually turn theirs around right away, but I assumed that wasn't typical unless required by law.
 
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