Home     About Us    Contact Us     Contribute     Privacy
Investing
Stocks
Bonds
Mutual Funds
Biz
Credit
Career
College
Economics
Tax
More
 
 
Marketplace
Related Categories
Tip of the Day

Tip of the Day Plan

Plan - Part of retiring without losing your current benefits and standard of living is due to planning for your retirement and starting early. Today the social security people...

read entire tip

Recently Added
Other Great Sites
 

Government or Private Sector Job

Should I work for the federal government or the private sector?  As some of you are going to college, currently in college, or even already in the work force, I'm sure this has come across your mind for some of you.  The topic of the article is to give you the pros and cons of government versus private sector.  I have friends that work in both worlds so let me share with you what I know.  First the statistics:

Gov Vs Private

As of the latest jobs report as of 2014, the federal government employs about 2.7 millions people.  The range from judicial branch such as supreme judges and their clerks to legislatives such as the congress and their staff, to executive branch such as the president and his/her cabinets.  Executive branch currently has 15 cabinets.  According to the latest number from the whitehouse.gov, here is the list of the current cabinets and number of the employees (approximately), and their current budget.                              

Department                                                 

Employees

Budget(in billions)

Agriculture                           

100,000                            

95 

Commerce                           

38,000                              

6.5

Defense                              

1,300,000                          

527

Education                            

4,200                                

68.6

Energy                                 

100,000                            

23

H&H Services                       

65,000                              

700

Homeland Security                

216,000                              

39

HUD                                 

 9,000                                

40

Interior                               

70,000                              

16

Justice                                 

114,000                            

25

Labor                                  

15,000                              

50

State                                  

35,000                              

35

Transportation                       

55,000                              

70

Treasury                               

100,000                            

13

Veterans affairs                     

235,000                            

90

Subtotal  

2,456,200                          

1,800

 

As you can see, executive branch employs the most employees out of the three government branches and most of the money goes to executive branch as well.  There are 140 million tax payers in united states, so approximately 2 percent of which are federal government employees, that's not counting millions of contractors that work with the government.  

 Does not matter what each political party's opinion on the size of our federal government, the government provides some essential services to the public and is here to stay.  Since government is a nonprofit organization and has stable income thanks to all the tax payers, there's less likelihood of you getting laid off due to the fluctuation of the  economy.  Stable job does not mean guaranteed pay checks however.  Congress appropriates the money for government.  Each year, the president submits the executive branch's budget to congress for approval.  When they could not get to a resolution before the deadline, then the government is force to shut down due to the anti-deficiency act.  When that happens, government services affected (without 2 years budget) shuts down and their employees are placed under unpaid leave called furloughs until congress approves the budget.  Recently there was furlough in October, 2013 where more than 800,000 federal employees were affected throughout different government agencies.  There have been many articles written about federal employees get pay more than private industry workers.  I personally disagrees, I think if you compare the same kind of positions and experiences, private industry workers usually come out ahead.  Most of government employees are under General Services (GS) pay bands, range from 1-15.  Below is a 2013 pay table from Office of Personnel Management

Grade

Step 1

Step 2

Step 3

Step 4

Step 5

Step 6

Step 7

Step 8

Step 9

Step 10

WGI

1

17981

18582

19180

19775

20373

20724

21315

21911

21934

22494

VARIES

2

20217

20698

21367

21934

22179

22831

23483

24135

24787

25439

VARIES

3

22058

22793

23528

24263

24998

25733

26468

27203

27938

28673

735

4

24763

25588

26413

27238

28063

28888

29713

30538

31363

32188

825

5

27705

28629

29553

30477

31401

32325

33249

34173

35097

36021

924

6

30883

31912

32941

33970

34999

36028

37057

38086

39115

40144

1029

7

34319

35463

36607

37751

38895

40039

41183

42327

43471

44615

1144

8

38007

39274

40541

41808

43075

44342

45609

46876

48143

49410

1267

9

41979

43378

44777

46176

47575

48974

50373

51772

53171

54570

1399

10

46229

47770

49311

50852

52393

53934

55475

57016

58557

60098

1541

11

50790

52483

54176

55869

57562

59255

60948

62641

64334

66027

1693

12

60877

62906

64935

66964

68993

71022

73051

75080

77109

79138

2029

13

72391

74804

77217

79630

82043

84456

86869

89282

91695

94108

2413

14

85544

88395

91246

94097

96948

99799

102650

105501

108352

111203

2851

15

100624

103978

107332

110686

114040

117394

120748

124102

127456

130810

3354

From the table above, $130,810 is the top of GS pay band.  Besides GS, there are some other pay bands that government uses such as military pay according to ranks, executive services, competitive services, and senior executives services.  The cap for some of the other pay bands might be higher than GS 15-step 10, but all of them have capsBasically what I'm saying is that if you are trying to go in the government thinking you can work your way up and eventually own a yacht in caribbean somewhere, forget about it.  The government in general, however, provides comparatively good benefits to its employees such as health and retirement.   Government has Thrift Savings Plan (TSP), a retirement savings plan similar to private world's 401K where they government matches few percentages of your salary if you contribute as well.  Federal government jobs in general has also very good work & life balance.  Most agencies have alternative work schedule such as 9-80(every other Friday off by working 9 hours/day except the working Friday for 8 hours), or 4-10 (where you only work 4 days a week by work 10 hours a day each day), and something new called Maxi-Flex where you can make your own schedule essentially as long as you meet the 40/week requirement, with supervisor approval of course.  Some government agencies are starting to implement tele work as well where you can work from home, up to few days a week.  In the private world, its's a different story.  I have a friend who works in a major bank in NYC, he was clocking in 70 hours/week for a month straight.  He did not get pay for the 30 hours overtime.  In government however, any time you put in over 40 hours/week, you will get compensated for in vacation time or overtime pay.  Even work related travel over 8 hours during weekday or anything over weekends are compensated in government world.  

 Let's go to the work scopes in both worlds.  In technical fields such as engineering, government employees mainly perform oversight work, meaning they watch other people (contractors) work and manage/assess contractors' work.  So if you are a hard core engineer, government might not be the choice for you.  There's also in general more bureaucracy  than meritocracy in government work, you basically have to put int the years to get the higher pay.  In private sector, there are plenty of cases where if you can outperform/outsmart your competitors, you will be compensated for your efforts.  Sky is the limit for what you can accomplish in the private sector in terms of monetary compensation.  The government is trying to change towards meritocracy by give the high performers bigger raises, but again, it's hard to change and remember, there's a cap. 

In the end, money is not everything, sometimes people join the federal government so they can serve their country or the general public.  If that's your goal in life, government has plenty of opportunities for you.  I've read somewhere where a study shows that once you reach a threshold point of around $70,000/ year, more money will less likely to bring your more happiness.  I think for the middle class, that's true.  You might decide to have the "best of both worlds" by join the private sector for few years to get established and get what you want from your professional field, and then join the government when you are ready to start a family.  There's no right answer, it all depends on your situation and your ambitions.  

 Hopefully I gave you some helpful insights on the pros and cons of both worlds.    If you have questions, please don't hesitate to email to the TeenAnalyst team or comment below.  

 

 

Discuss It!
1 2 >

dissertation-writing-services-online said:

These divergent trajectories are due to fundamental differences in the drivers of employment across the two sectors, and The Hamilton Project plans to investigate their causes and consequences in future analyses.

opener multiple url said:

Really amazing blog, Iâd love to discover some extra information.

iPhone repair nottingham said:

The government in general, however, provides comparatively good benefits to its employees such as health and retirement.

Office Signs said:

Master Promotion Pty Ltd is a leading signage and graphic service provider since 1999 based on Sydney Australia. At Master Promotion, we offer a wide variety of sign products and design services that get your message out of the office and into the world.

24 Hour Locksmith Pros said:

Hello friends, nice post and nice urging commented at this place, I am after all enjoying by these.

Residential moving said:

http://herculesmoving.ca

Residential moving said:

Hercules moving company offer residential and commercial moving services and also piano moving services which is served for Toronto, ON and the GTA residents.

house cleaning Melbourne said:

Skyrise Cleaning High Power Cleaning services has over fifteeen years experience within the professional cleaning industry.

hiring said:

GotoGulf is a job board catering to the Middle East GCC countries, especially in Dubai & UAE.

psoriasis said:

Nice post!

middlegrounds said:

middleground is the country's first settlement centre purely dedicated to vca people settle their cases out of court, on their terms. middleground offers a place and guidance to parties to mediate their cases. we are 100% not a law firm or court. we offer an alternative way to resolve cases that is binding on the parties and can put an end to things quickly and cheaply.

HR Homework Help Online said:

Get the dissertation writing service students look for these days with the prime focus being creating a well researched and lively content on any topic.

Finance Thesis Help said:

Finance Thesis Help Introduction When you are passing your finance research study course - finance documents are typical tasks.

Simul8  Assignment Help said:

Thanks for sharing the info, keep up the good work going.... I really enjoyed exploring your site. good resource. 

JQuery Programming Assignment Help said:

JQuery Assignment Help Introduction jQuery is a framework developed utilizing JavaScript abilities.

Caro lyn said:

The PhenQ manufacturers also warn that you should consult your doctor before taking this supplement http://www.phenq-pills.com/

Sophia said:

This is cool! Your website is great Hey! Your information is astounding!! I will recommend it to my brother and anybody that could be attracted to this topic. http://www.dietpills-reviews.com/

trading stocks said:

I would state, you do the truly stunning. Splendid tips and clear. This will be to an amazing degree satisfying for me when I get a chance to start my web diary.

Electrician Bardon said:

Allyn White Electrical Pty Ltd is a family owned and operated electrical business based in the inner Brisbane suburb of Bardon.

boston terrier said:

Thank you for good website.

Most Popular Articles
Most Popular Definitions
 
Daily Definition

Definition of the Day Price Leadership

Price Leadership – Whenever a key market leader takes and set the tone, pace and price, markets are left to catch up, competitors having to lower, adjust, raise their prices accordingly in the name of competition. Then markets (and pricing), will shift, move and respond. Such management, control, direction and...

read entire definition

 
 

 

 

Home     About Us    Contact Us     Contribute     Sitemap

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Copyright © 2009 TeenAnalyst.com