[jlondon]

For those with many years of experience, or for those who know of people who have gone down either path, I would like to ask what is your experience.

In working for government, the salary would be lower as compared to industry, but the benefits would be the pensions and it is also a stable job. Also, there would probably be less perks in government accounting (such as compared to start ups/ industry environments).

Where as in industry, the salary is high, but working in corporate might not be as beneficial because there isn’t a pension. The nice thing about working in industry / start ups, is all the perks. But it is also unstable because lay offs can happen anytime.

What are your opinions for each? Has anyone calculated out an estimated total pensions benefit amount vs. how much they could have made during their time working in industry.

BEC: 69, 57, 72, 73, (anticipated for 4/4/2015)
AUD: 65, 63, 74, 84!!! (expires 7/31/2015)
FAR: 63, 57, (scheduled for 4/1/2015)
REG: ... 42, (Anticipated to be around 5/20~)

-Every Set Back is a Set Up for a Major Come Back #motivation

"I've missed over 9,000 shots in my career. I've lost over 300 games. 26 times I've been trusted to take the game winning shot, and missed. I've failed, over and over and over again in my life. And that is why, I succeed." - Michael Jordan

"You are not your past, but the resources and capabilities you glean from it" -Jordan Belfort

[Anonymous]

If you add in equity and bonus, private will always trump government.

I have many friends (in their mid-late twenties) with $100K+ base (not including, bonus, ESPP or equity) and that's for a SENIOR position. (Not manager)

But I guess I'm jaded, I live in the Silicon Valley where they hand out RSUs and stock options like candy..

[rugger246]

Federal employee here and have been for over 10 years, I spent some time in public accounting as well.

Biggest difference for me is the amount of hours working. Currently, I work a straight 40 hour week…anything over that I earn comp. time or O/T…I never got that in public accounting. I remember one day calculating the per hour rate when in public accounting and was making like $10 an hour…that was a real let down. So even though I made more $$$ the ratio to hours worked did not make it attractive at all.

Being able to come home everyday at 5:00 PM is a real bonus for me. I consider myself very fortunate!!! Could I make more money somewhere else…probably….is it worth it to me…no. When I am at work I work hard….perform at a high level…and go home rarely ever thinking about work back at the office.

My pay is decent for what I do, got a 401(k), hope to have a pension when I retire (nothing is guaranteed in life even if it is the government), but most of all I love what I do…to the point I would probably do it for fee…it is hard to put a price on that!!!

AUD - Passed
BEC - Passed
FAR - Passed (Perfect Score of 75 to finish it off)
REG - Passed

[Quinacridone]

I love working Fed Gov't. I'm in the Department of Defense as an auditor (GS-12 for all field level auditors except interns who will generally start at a GS-4 to a GS-7 and then promote up to a GS-12). The work is very challenging, exciting and fast-paced.

My work-life balance is amazing…I have dinner every night with my fiancé. I tend to be very driven when I'm in the fieldwork portions of my audits – so I often choose to work a bit longer than 40 hours (and comp it out when things slow down). I only get 2.5 weeks of vacation which is sometimes a bit of a squeeze for me since I do a lot of international travel. Our agency has quite a lot of opportunities to advance to GS-13 and GS-14 positions (audit managers and program managers). Also, there are opportunities to work overseas (where they pay housing/utilities in full/tax-free). I've got pension, health/dental/vision, training opportunities (i.e. almost all of my masters was paid for), and opportunities for bonuses (limited, obviously, compared to private – I believe the largest bonus we can receive is $2,000).

It truly is all about what is most important to a person. I am happy with the path I chose. (Also, for the shutdown last year, we received all back pay once the Gov't came back online – so really it was like having a month paid vacation).

And here in Florida, if I chose to work for one of the regional firms rather than the Gov't, a CPA with 10 years experience non-partner earns the same amount I am currently earning as a 5 year civil servant.

REG - Nov 4, 2013: 88
FAR - Feb 27, 2014: 86
AUD - April 5, 2014: 91
BEC - May 6, 2014: 83

Florida CPA 24 July 2014
(Done in seven months - thank you Jesus!!)

[fuzyfro89]

Which you'll like really depends on your goals.

For someone who prefers a more stable and predictable schedule with (usually) good job security, govt can be an option; however, the pay will likely be less than a similar position in private.

If you are aggressive in your career and ambitious to work hard and move up, then private will very likely be the better avenue. On a per hour basis, and overall amount work basis, you may come out behind, but not everyone will measure things that way.

So… surprise, surprise… it's up to what you really want out of your career.

[mw798]

“But I guess I'm jaded, I live in the Silicon Valley where they hand out RSUs and stock options like candy..”

But in Silicon Valley, $100k puts in you in the lower middle class. If you ever want to start a family, a decent house in a good school district starts at around $800k for a 3 bedroom. If you are single, rent for a decent 1 bedroom apartment is $2,500/month.

[Anonymous]

^MW

That's only in SF, specifically SOMA and the Marina. You're not going to pay $2,500 for a 1bed/bath apartment in San Jose, Peninsula or the east bay.

I'm under 30, own a 4 unit house in SF that I rent out. Each unit is 550-600 sq feet 1 bed/bath with kitchen and I charge $1,500 per month.

I also just bought a house in SF – 3bed/3bath 1600sq ft house on my salary and I'm living comfortably on my modest income. People love to quote insane sky high rents in SF (they do exist) but people are definitely able to afford buy/rent in SF on that $100K salary, just not the most “trendy” and expensive areas obviously.

[mw798]

May I ask what the price range of the house you bought was?

[Anonymous]

I prefer to win the lottery and to stop working forever.

[Anonymous]

I'll give a range.. my fiancee and I paid $780k – $820K.

Schools near my house are very good as well. But anyone in SF will know.. public school admittance is based on a lottery. And you have to test into the pubic schools that are highly rated.

[mw798]

You must be ballin man….a a 4 unit house in SF that you rent out at $1,500/unit and a $800k house. Needless to say you aren't on a $100k/year salary, but well above that. Down payment on both would exceed $200k alone.

[Anonymous]

Haha I wouldn't day I'm balling, but we're doing ok. My fiancées brother just bought a $1.1m dollar house in San Bruno. They're both CPAs. 1 is in private and the other is working at big 4.

$100k is a very liveable salary in the Bay Area. It won't buy you a million dollar home, but you won't be out on the streets either.

[Author]

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