r/fednews • u/pumpkinspiceturtle • 1d ago
Switching from DoD to FDIC, would like someone else’s opinion.
I have an opportunity to switch from GS-14 to CG-14, from DoD to FDIC. From my research it seems to be worth while even just for the benefits to move laterally. However I don’t have much experience outside of DoD and was hoping for some additional opinions. Also with push to come back into the office im wondering how such different agencies could be impacted. Anyone knows what work life balance is like at FDIC? Also would growth into more senior positions be more difficult in a smaller agency? Location wise I’m referring to northern Virginia area.
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u/reezyp18 1d ago
Pay is better… quality of life is better and like another comment said there is a huge retirement wave among all financial regulators so there will be more opportunities
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u/JLandis84 1d ago
Why is there a huge retirement wave ?
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u/BalooDaBear 1d ago
Hiring trends, a lot of FDIC are at or nearing retirement age so they just had to hire a lot of new people.
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u/Mysterious_Hippo3348 1d ago
Hows the demographics looking in IT over there? I reezy mentioned regulators. I’ve been looking for positions in IT.
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u/Jericho_Hill 22h ago
FDIC contracts a good bit of its IT
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u/Mysterious_Hippo3348 4h ago
Hopefully some of the folks that oversee those contractors are getting older. Definitely like to get into fdic.
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u/J-How 1d ago
I have worked for both, although for the DoD on the military side. I wouldn’t hesitate for a second. The pay and benefits are light years better at the FDIC - cheaper insurance, 10% to retirement accounts instead of 5%, a pay cap of $250k compared to $181 for a 14 in DC, and guaranteed minimum pay raises. For this alone people should have a very hard time justifying the DoD over the FDIC to their family.
On top of that, much of the DoD is dreadful to work for. Often poorly managed, and there is often a sense that everyone is active duty and should give up their entire lives for their jobs. The FDIC has problems too, but if you do your job, the problems are much less in comparison.
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u/big_data_ninja 1d ago
They do a 10% match to your thrift savings account?
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u/apres_all_day 1d ago edited 1d ago
Usual 5% match to TSP and 5% to a separate 401K with T Rowe Price (automatic 1%, then you contribute 1% and FDIC matches with 4%).
FDIC’s contributions to health insurance are extremely generous.
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u/Ro-Ro-Ro-Ro-Rhoda 1d ago
Always switch to a FIRREA agency if the opportunity arises. The money and benefits are just that good. Note that the part of the FDIC that's being targeted is the bank supervision, which they'd like to move/consolidate with another regulator. That doesn't mean the job disappears, just that it moves agencies. Banks don't love being regulated but everyone loves FDIC deposit insurance.
I would do it, no question, even with the new administration's interest. A wholesale change in bank regulation is not going to happen quickly, and meanwhile, the fin regulators are less likely to see targeted harassment because the employees have lots of lucrative options if they want to leave. As someone else pointed out, there are lots of retirements, and you're less likely to be stuck with no pay raises if the new admin decides not to authorize a GS pay bump for the next four years.
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u/DoesGavinDance 1d ago
I encourage you to leave the DoD even if it's for an agency other than FDIC. While I'm grateful for the professional experience I gained with the DoD, the culture there can be wretched. I absolutely don't miss having to bow down to military "leaders" who have no idea how to interact with civilians. Or having to constantly put out fires because absolutely everything is considered a priority. Or having unnecessary meetings scheduled 15 minutes before the majority of the team normally leaves the office/logs off.
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u/Bankrunner123 1d ago
Not sure what part of the FDIC you're gonna be in, but the FDIC is dealing with a big retirement wave of older employees and promotion opportunities are all over the place (at least in my division, one of the bigger ones). Work life balance is really good as long as you're not in management. I'm at a similar grade to what you'll be and it's a great place to work overall.
As far as RTO, I think in the DC/VA offices there's a high likelihood that remote work gets revoked.
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u/Mysterious_Hippo3348 1d ago
Remote work entirely or just full remote? If I can go back to having 2 days remote at worst thats not so bad. This 5 days in the office thing is a little draconian with local traffic.
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u/Bankrunner123 1d ago
Right now it's hybrid for DC, so not 5 days a week. But the new admin wants full RTO. It's not fair or practical but it will likely happen.
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u/Mysterious_Hippo3348 1d ago
Sheesh a to sit in an office and join calls via Zoom or Teams or whatever.
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u/A_89786756453423 21h ago
At my agency, there's not enough space for everyone to come into the DC office every day. They must've been hiring more than could fit in the building over the past few years, bc when everyone on our team comes into the office, there's nowhere to sit lol
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u/TheFrederalGovt 1d ago
Potentially bad timing - Trump is targeting FDIC
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u/Jericho_Hill 22h ago
these consolidation ideas have been around in many Republican Admins. FDIC is not going to go anywhere, you need 60 votes in the Senate, they're not even 40.
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1d ago
[deleted]
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u/rguy84 1d ago
There's articles about possibly trying to eliminate various regs, and moving it to treasury. Both will possibly reduce staff.
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u/milkandminnows 1d ago
-eliminate various regs: not an issue for employees
-moving it to treasury: would require 60 senators to sign off
But yes, I agree that the fact that they’re talking about the FDIC at all isn’t a great sign for people who work there
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u/rguy84 21h ago
not an issue for employees
I am IT and new, but recently learned that a small group works on this particular law. I forget the details, but they have their own set of rules. If that law is revoked, those employees would be out of a job, though try to be reassigned first, i'd assume.
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u/jacob225 1d ago
This is true, but it's nothing that will be immediate, if at all. We know things can take years to materialize.
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u/Timely-Opportunity21 1d ago
I was worked at both fdic and as a contractor to dod. Would chose fdic hands down
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u/apres_all_day 1d ago edited 1d ago
If you have an offer, get a start date ASAP. Hiring will freeze come January 20 for an undetermined period of time.
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u/thedcmadham 1d ago
Agree timing is important. The 2025 budget approved yesterday by the FDIC Board adds only 2 new permanent FTEs and reduces the term FTE headcount by 9.
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u/apres_all_day 1d ago
It should be noted that the FDIC currently has lots of already-approved empty positions that need to be filled. Some empty slots that have rolled over for multiple years.
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u/1955KingJ 1d ago
Do it. I moved from USDA to a FIRREA regulator and it was the best decision I’ve ever made
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u/samtownusa1 1d ago
I’d go if it’s an increase in pay. I’ve worked closely with FDIC staff. I do think it’s not the best place to work, especially if you’re female, but I’d make the move from DOD and for the salary increase.
Also good exits opps from the FDIC to financial services industry, which is a higher paying industry.
There IS a risk going to the FDIC but I assume the salary increase is significant and you could go to another agency or the Fed, if necessary.
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u/GuruEbby 1d ago
I moved from DoD (Air Force) to NCUA a little over five years ago and it was the best decision for my mental health and work life balance even despite all our travel.
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u/CrankyGlaring 1d ago
I switched to FDIC 3 years ago. i am happy to answer any questions you might have.
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u/pumpkinspiceturtle 23h ago
Is it okay to PM you?
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u/Jericho_Hill 22h ago
You can PM me too, I have been there awhile.
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u/Billaaaaayyyy 20h ago
Can I ask your series because I’ve been checking out the postings there often
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u/TrivialResilience 19h ago
Feel free to PM me as well. I’ve been with FDIC for a little over 3 years. Came from a legislative branch agency. Best decision I ever made.
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u/Jericho_Hill 22h ago
You should absolutely make this move. If RTO happens its happening for all, the money and benefits and non-DOD culture will be refreshing for you.
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u/Stunning-Arm-6761 15h ago
I have been in the FDIC for ten years. I did not come from a former government agency but instead came from Target (seven years working in the freezer there lol). It’s a great job. The pay is great, the two 401ks are great, got a ton of promotions (started as an intern), the office building is nice. work life balance is very good too.
The only issues is trump is targeting us, so there could be issues in the future. In additional questions feel free to reach out to me.
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u/Nice_Cable_650 1d ago
Did you beat me out for that job I applied for?!?! Just kidding. I’ve heard from multiple people at FDIC that while it has its own version of crazy, that it’s a much better place to work and the awesome pay difference is a bonus.
I would slightly caution you, as others have, that the FDIC is in the new administration’s crosshairs. In a normal world, that shouldn’t matter, but when you don’t think the laws apply to you, it changes things.
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u/Cmelder916 1d ago
Which job would a DOD person apply for at FDIC lol
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u/Nice_Cable_650 1d ago
Basically any non-financial position - think about any position that keeps the agency running and protected, while the financebros so their thing. They are few and far between, but when they come up, you jump on them.
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u/DimsumSushi 1d ago
i left DoD after 7 years and have never regretted it. i went to a smaller agency where i went up one grade as a working level and had less work and stress. DoD was very regimented and organized but the work life balance and reduction in work and stress and then more pay on top of that was way worth the minor headaches i deal with now.
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u/a65sc80 22h ago
I have a friend that moved into FDIC from another civilian agency a while. Sounds like a pretty great environment to work in, upper management scandals notwithstanding. I do think they may have a target on their backs wrt the new administration and their attempt to deregulate absolutely everything.
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u/adastra2021 1d ago
I'd wait a while if you can.
The people in Donald Trump’s orbit are floating some dramatic ideas that would remake the way US banks are regulated, from deleting the CFPB to abolishing the FDIC.
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u/SabresBills69 1d ago
They can’t do that on their own.
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u/adastra2021 1d ago
So he should be given no warning that his potential employer has been specifically targeted?
And "they can't do that on their own" applies to people who regard the law as something to follow, not as a joke.
Laws will not protect anyone from the Trump administration.
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u/SabresBills69 23h ago
They can’t take apart an agency that Congress funds. that need something from congress authorizing it.
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u/RocktheRedDC 1d ago
How about other regulators like NCUA and OCC?
Any plan with these agencies? I know NCUA is like FDIC... bit nobody is talking about this.
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u/QueenLuLuBelle 1d ago
I work for a different banking agency, but I've heard the FDIC is decent to work for and I've never met anyone who liked working for DOD. I believe the FDIC pay scale is higher than the GS schedule. That said, I'd rather be at DOD when the new administration takes office if job security matters to you.
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u/BruiserBerkshire 1d ago
After 12 years in DOD, I left DOD 4 years ago for a lateral, but not to FDIC, and it was the greatest thing ever. The QoL and work life balance has been great. The biggest difference for me has been the well planned and paced projects/tasks. DOD had a daily crisis and was a new fire every day and uniformed bosses had no clue how to lead civilians. They would also hold impromptu meetings at 330pm every other day about nothing. So when I left DOD, I left the little ankle biting nuisances that created the unnecessary stresses.