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Thread: Public to private jump

  1. #1
    Cyburbian michiganplanner's avatar
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    Public to private jump

    This is another What would you do? scenario, but I value the insight here so let me put this out there.

    There is an opportunity to join a firm on a contractual basis. It would mean leaving the comfy confines of government economic development and housing, but it would come with a 20K raise. There would be no benefits (medical, dental, vision, disability, life insurance, pension etc.) with the job so those would have to be paid out of pocket. While I cannot say for sure, the workload could actually be less (weird). Night meetings would be about the same and there is relatively no impact from a distance driving to the office perspective.

    What would you do? Or, more importantly, what concerns would you have? I have some idea how much medical insurance would cost, but it still seems like a decent size risk.
    I'd be more apathetic if I weren't so lethargic.

  2. #2
    Cyburbian Emeritus Chet's avatar
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    No benies is a big turn off. Time to do a SWOT analysis!

  3. #3
    Quote Originally posted by michiganplanner View post
    This is another What would you do? scenario, but I value the insight here so let me put this out there.

    There is an opportunity to join a firm on a contractual basis. It would mean leaving the comfy confines of government economic development and housing, but it would come with a 20K raise. There would be no benefits (medical, dental, vision, disability, life insurance, pension etc.) with the job so those would have to be paid out of pocket. While I cannot say for sure, the workload could actually be less (weird). Night meetings would be about the same and there is relatively no impact from a distance driving to the office perspective.

    What would you do? Or, more importantly, what concerns would you have? I have some idea how much medical insurance would cost, but it still seems like a decent size risk.
    With no bennies, you might as well kiss that additional $20K goodbye to cover yourself and family (depending on your situation). I had a similar offer (contract, no bennies) a while back, and the numbers they gave me to pay for my own insurance, etc made no sense (WAY low). Keep in mind that if you are coming from gov't, you are probably used to pretty good benefits and coverage. Where I work (county gov't), I have been told that in our benefit package, someone making around $60K is getting another $30K in bennies! It boils down to your own comfort level. I know people that are contract and they love it. For me, it's too unstable of a gig.
    In the beginning there was nothing...then Chuck Norris Roundhouse kicked that nothing in the face and said "Get a job". That is the story of the universe.

  4. #4
    Cyburbian michiganplanner's avatar
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    Quote Originally posted by Chet View post
    No benies is a big turn off. Time to do a SWOT analysis!
    Yes! I can't believe I overlooked doing a SWOT analysis. Nice one.
    I'd be more apathetic if I weren't so lethargic.

  5. #5
    Cyburbian Raf's avatar
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    no benefits? forget-about-it
    follow me on the twitter @rcplans

  6. #6
    Cyburbian Greenescapist's avatar
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    I wouldn't take a job without benefits either, especially health insurance. Private health insurance is just too expensive.

  7. #7
    Cyburbian
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    Not only do you not have medical, dental, you also have no pension or 401k (which also means no employing matching either), so you loose even MORE money.

  8. #8
    Cyburbian KSharpe's avatar
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    OK, I'm stupid. What's a SWOT analysis?
    Do you want to pet my monkey?

  9. #9
    Cyburbian Joe Iliff's avatar
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    Quote Originally posted by KSharpe View post
    OK, I'm stupid. What's a SWOT analysis?
    Strengths
    Weaknesses
    Opportunities
    Threats
    JOE ILIFF
    ________________________________________________________________________
    Debt is normal . . . Be weird!
    Dave Ramsey

    "Rarely do we find men who willingly engage in hard, solid thinking. There is an almost universal quest for easy answers and half-baked solutions. Nothing pains some people more than having to think."
    Martin Luther King, Jr.

  10. #10
    Cyburbian zman's avatar
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    I say get out of the soul-sucking realm of public-sector planning and get in with the movers and shakers.

    You can always leach onto another family members' insurance or pay for modest benies yourself (especially if you are healthy.
    You get all squeezed up inside/Like the days were carved in stone/You get all wired up inside/And it's bad to be alone

    You can go out, you can take a ride/And when you get out on your own/You get all smoothed out inside/And it's good to be alone
    -Peart

  11. #11
    Cyburbian Fat Cat's avatar
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    Fat Cat

    Have worked in both the public and private sector. Never went without benefits. Typically when you are doing a budget for the year or for a project, true benefits run about 40 to a little over 50%
    Dont forget the employer picks up half of SS and that is 7.5 and if you pay for it then it is 15%
    then you get in to health, dental and optical and dont forget pre-existing conditions
    then there is errors and omission insurance
    then there is pension
    Definitely do a SWOT analysis

    Good luck on whatever you decide to do

  12. #12
    Cyburbian Fat Cat's avatar
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    Fat Cat

    7.65% not 7.5
    sorry about the

  13. #13
    Cyburbian Plus JNA's avatar
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    Very simple -
    No benefits = Not accepting job offer.

    In my case too many benefits to give up.
    Oddball
    Why don't you knock it off with them negative waves?
    Why don't you dig how beautiful it is out here?
    Why don't you say something righteous and hopeful for a change?
    From Kelly's Heroes (1970)


    Are you sure you're not hurt ?
    No. Just some parts wake up faster than others.
    Broke parts take a little longer, though.
    From Electric Horseman (1979)

  14. #14
    Cyburbian Captain Worley's avatar
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    I worked for the feds, then private sector, then the state. bennies are a big reason I went back to the public sector.

    YMMV.

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