TrixAre4Kids
Familiar Member
'Not all those who wander are lost' - J. R. R. Tolkien
Joined: Dec 22, 2010 22:33:15 GMT -5
Posts: 877
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Post by TrixAre4Kids on Feb 20, 2011 0:42:57 GMT -5
Ok, it's Saturday eve, and I may be really reallly wasted (is this ee?) but I know I put in 16..5 and co match plus another 5k match for 22,000 plus co match (80% of first 6%......22k plus co match... but jeez good for you. As Phil said, we got NO HELP way back when
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TrixAre4Kids
Familiar Member
'Not all those who wander are lost' - J. R. R. Tolkien
Joined: Dec 22, 2010 22:33:15 GMT -5
Posts: 877
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Post by TrixAre4Kids on Feb 20, 2011 0:43:35 GMT -5
God I hope that made sense.
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kccini9
New Member
Joined: Jan 6, 2011 0:42:00 GMT -5
Posts: 38
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Post by kccini9 on Feb 20, 2011 3:45:28 GMT -5
The last company I worked for was a defense contractor. It was not a federal posistion, they just got the majority of their work from the DOD. They contributed 7% whether you contributed anything or not. We were fully vested from day 1. About 75% of the company has been laid off in the past year, including me. Thankfully, I got all that money!
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SVT
Well-Known Member
Joined: Dec 20, 2010 15:39:33 GMT -5
Posts: 1,491
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Post by SVT on Feb 28, 2011 18:45:17 GMT -5
Well, I just found out that the leave that I'm getting is more than expected as well. I thought it was 4 weeks a year but it will actually be 6 weeks! I mean really? LOL I get paid twice a month and I'm getting 10 hours per pay period!
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Sum Dum Gai
Senior Associate
Joined: Aug 15, 2011 15:39:24 GMT -5
Posts: 19,892
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Post by Sum Dum Gai on Feb 28, 2011 20:46:46 GMT -5
I might be way off base here, not knowing your specialty, but it sounds like you might be getting screwed a little on the salary side. You're benefits package sounds really good though, so maybe it's a wash. I say that because my first job after separating from the Air Force paid $60k + bennies. It paid that, because that's how much I was asking on the resume. It should have raised a flag that they agreed to that immediately with no negotiation. The second flag, which I did catch, was when I got a raise one month after I started. While it wasn't a bad salary for somebody just entering the private work force, with my security clearance and military training I should have been asking for $80k.
I don't know what area of the country you're in, but don't underestimate that security clearance. Those things can be seriously bankable. If I were you, I'd be fairly aggressive during your first review process. If you get very little push back, or they come into it offering you a pretty decent raise, you're probably being underpaid for the security clearance and your degree/experience in your area.
Now that I'm a little higher in the food chain, and see how hard it is to find people with the clearance to fill our openings, I totally get why employers are willing to pay a premium for them.
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SVT
Well-Known Member
Joined: Dec 20, 2010 15:39:33 GMT -5
Posts: 1,491
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Post by SVT on Feb 28, 2011 21:14:12 GMT -5
I might be way off base here, not knowing your specialty, but it sounds like you might be getting screwed a little on the salary side.. I didn't get screwed but I *possibly* could have received a tad more, maybe $5k more. The thing is, I didn't have a security clearance at all, not even a confidential and no government experience, so the company had to pay the thousands of dollars it costs to obtain that. I don't know what area of the country you're in, but don't underestimate that security clearance. Those things can be seriously bankable. If I were you, I'd be fairly aggressive during your first review process. If you get very little push back, or they come into it offering you a pretty decent raise, you're probably being underpaid for the security clearance and your degree/experience in your area. Now that I'm a little higher in the food chain, and see how hard it is to find people with the clearance to fill our openings, I totally get why employers are willing to pay a premium for them. Oh yes I know! I wanted to be in this area and industry partially for that reason. Like I mentioned earlier in this thread (or maybe it was another), I have been told that $20k should not be a problem after one year. My goal is to be making 6 figures within 5 years. My 23 year old friend who works for the same agency but not the same contractor anymore, is now making $106,000 after 2-3 years of experience at the agency and 6 years of total IT experience.
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schildi
Well-Known Member
3718 and no text
Joined: Jan 14, 2011 1:38:58 GMT -5
Posts: 1,799
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Post by schildi on Mar 1, 2011 0:54:51 GMT -5
SVT - let me tell you what someone your age can expect. (I retired in 1998 - that is 15 yrs after companies started offering 401k's - mine was about $1M at retirement). If you contribute the $16,500/yr and another $4000/yr is added by your employer, $20.5/yr goes in. Your out-of-pocket cost is about $11,000/yr (depending on your state tax). For this $11k/yr, you get $1M on account at age 42, $2M at about 48, $4M at age 54, $8M at about 61, and so on. And after retirement it keeps growing. (Your actual values will be higher because the contribution limit will be adjusted for inflation.) I wish this fairy tale was true for me (or anybody who started about 12 years ago)!
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schildi
Well-Known Member
3718 and no text
Joined: Jan 14, 2011 1:38:58 GMT -5
Posts: 1,799
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Post by schildi on Mar 1, 2011 0:59:05 GMT -5
If you contribute the $16,500/yr and another $4000/yr is added by your employer, $20.5/yr goes in. Your out-of-pocket cost is about $11,000/yr (depending on your state tax).Phil, I believe this is not correct. The most that one can put into an account is 16.5K, period (or 21.5K if 50 or over). In his case, he could put in 12.5K personally and 4K from the boss to max out the account). What to do with that extra 4K? Toss is into a Roth! I maxed last year to $16,500, and my employer added another $7K or so.
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Sum Dum Gai
Senior Associate
Joined: Aug 15, 2011 15:39:24 GMT -5
Posts: 19,892
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Post by Sum Dum Gai on Mar 1, 2011 1:03:14 GMT -5
The thing is, I didn't have a security clearance at all, not even a confidential and no government experience, so the company had to pay the thousands of dollars it costs to obtain that. Ahh, yeah that changes things. I thought you already had the clearance.
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