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Home › Forums › Other › My next door neighbor was a cop, still under 60, been retired for more than 5 yrs › Harvey… Private sector vs.

June 9, 2012 at 1:26 AM #745355
Bitter Renter
Participant

Harvey…
Private sector vs. public sector.
Let me spell it out for you since I have worked both…
Public: Lower pay. No fringe benefits. No social security. No 401k matching. A “pension” in which 12 – 18% of annual pay is donated to. A semblance of job security…but the constant threat of privatization of your job is hung over your head. Skills not transferrable due to specialized nature of work. Healthcare is way MORE expensive (biggest misconception of new public employees).
Private: Better pay. Free coffee/childcare/gym/work-from-home,etc. Retire early or pay off house with the stock options you were given from all the years of DOW/NASDAQ gains + 401k matching of up to 8% or more. Golden parachute when laid off. Get better job due to inflated resume. Skills actually transferrable.
Healthcare contributions are much more affordable with most private companies.
Why am I working public now? Because I thought it was SO GREAT in terms of retirement benefits just like you. But guess what? I was ignorant and so are you.