Private vs Public

jinish · 05-03-2021 4:27pm #1

Hi All
Just trying to get some perspective.

I am currently a public sector (HSE) employee, on 60k. Just casually exploring the job market outside and I have been offered a job in private 70K plus 13% bonus, with health insurance for the family.

It's the same role. I see greater career progression staying in HSE, even though it might take a few years. I feel that once I am out to private, it kinda hard to get back in HSE (It's only a feeling).

Fire away, what would you do?

AndrewJRenko · 05-03-2021 4:30pm

How old are you? Do you have family commitments now or in the future?

Larbre34 · 05-03-2021 4:32pm

Go calculate the personal contribution required to match your HSE pension, were you to join the private sector.

Then make yourself a big mug of hot sweet tea to get over the shock and get back to your HSE job for the rest of the day and try not to look too embarrassed that you even considered it.

You're welcome.

jinish · 05-03-2021 4:33pm

AndrewJRenko wrote: »

How old are you? Do you have family commitments now or in the future?

35. Wife and two kids (elder 5 years, younger 8 months). The wife does some odd nursing shifts during weekends.

New house recent mortgage, for next 34 years ~1350 mortgage alone.

No major commitments, except the normal, chors including bills/insurance/etc

maxsmum · 05-03-2021 4:33pm

Think about things like overtime, will you be expected to stay late, answer emails out of hours etc in the private sector
I was offered a higher salary once, but I would have been working crazy hours and the sacrifice and impact on family life wasn't worth it in the end.

jinish · 05-03-2021 4:34pm

Larbre34 wrote: »

Go calculate the personal contribution required to match your HSE pension, were you to join the private sector.

Then make yourself a big mug of hot sweet tea to get over the shock and get back to your HSE job for the rest of the day and try not to look too embarrassed that you even considered it.

You're welcome.

I did it. To match my pension, I should be contributing around 1000 per month:eek:

jinish · 05-03-2021 4:41pm

maxsmum wrote: »

Think about things like overtime, will you be expected to stay late, answer emails out of hours etc in the private sector
I was offered a higher salary once, but I would have been working crazy hours and the sacrifice and impact on family life wasn't worth it in the end.

Thank you!

05-03-2021 4:42pm

jinish wrote: »

I did it. To match my pension, I should be contributing around 1000 per month:eek:

That's the end of that so!

05-03-2021 4:42pm

Do not leave the Public sector. Currently I am rubbing cream into the wounds of the daily whipping I get in the private sector !

jinish · 05-03-2021 4:49pm

6541 wrote: »

Do not leave the Public sector. Currently I am rubbing cream into the wounds of the daily whipping I get in the private sector !

Than you, I haven't even accepted it.

It's funny, they contact you and state salary is 80k, Then the say its 70 + 13% performance bonus. And then there is the whole other realm of private sector work pressure.

maxsmum · 05-03-2021 4:50pm

The value attached to time before 9am and after 5pm being totally protected is just priceless
If you can live happily on current salary then stay where you are

dvdman1 · 05-03-2021 4:56pm

Public sector all the way..the extra 10k after tax won't even be worth the hassle and security

RoboRat · 05-03-2021 4:59pm

jinish wrote: »

Than you, I haven't even accepted it.

It's funny, they contact you and state salary is 80k, Then the say its 70 + 13% performance bonus. And then there is the whole other realm of private sector work pressure.

That 13% bonus is really about 7% as it will be taxed to hell and back.

Also, as previously stated, in the private sector, you are considered a salaried worker unless otherwise stated. This means that irrespective of the amount of extra work you do, you get the same wage.

Plus there are plenty of private sector companies that offer no sick pay and a holiday allowance of 20 days per year. Depending on the company, an annual pay review isn't a given, plus if things go sideways you have to worry about being laid off, made redundant or having to take a pay cut.

Hooked · 05-03-2021 5:15pm

maxsmum wrote: »

The value attached to time before 9am and after 5pm being totally protected is just priceless
If you can live happily on current salary then stay where you are

Just stumbled across this thread on the home page...

The extra money... is just that... money.

As someone who earns a very modest wage... I wouldn't swap my choice to be near family & friends, in a 9-5, Mon-Fri, relatively stress free role for all the tea in China as they say.

I have friends earning 100k+ that I never see - and when I do... they rant about work pressures, marriage issues and the rest.

I have a good friend who is in his late 40's, and stacks shelves in a cash n carry. Has done his whole life. He's probably the happiest person I know. Zero stress.

You're on a good thing as you are. A bird in the hand, and all that!

Yurt2 · 05-03-2021 7:35pm

Hooked wrote: »

Just stumbled across this thread on the home page...

The extra money... is just that... money.

As someone who earns a very modest wage... I wouldn't swap my choice to be near family & friends, in a 9-5, Mon-Fri, relatively stress free role for all the tea in China as they say.

I have friends earning 100k+ that I never see - and when I do... they rant about work pressures, marriage issues and the rest.

I have a good friend who is in his late 40's, and stacks shelves in a cash n carry. Has done his whole life. He's probably the happiest person I know. Zero stress.

You're on a good thing as you are. A bird in the hand, and all that!

I once had a conversation over a pint with a twice divorced doctor. He compared himself to his brother who worked in a postal sorting office all his life. He used to look down on him for his lack of ambition, but now realises his brother was doing life right all along.

Mind you, he started in Royal Mail when one could expect a decent pension at the end of it.

blindsider · 05-03-2021 10:58pm

Larbre34 wrote: »

Go calculate the personal contribution required to match your HSE pension, were you to join the private sector.

Then make yourself a big mug of hot sweet tea to get over the shock and get back to your HSE job for the rest of the day and try not to look too embarrassed that you even considered it.

You're welcome.

THIS^^^

End of thread.

Green Mile · 05-03-2021 11:07pm

This is an interesting read.

I seen a job opening up in the HSE for what I do and it got me excited. I’m in the private sector on a decent ok salary and an ok pension.

The job just says Grade VII salary. When I google it, it gives several salaries, I’m guessing I’ll be on the first point as I’ve never worked in public before?

Am I right that the employer pension is about 25%.

The thing is, I’m happy in the current job, so I don’t want to rock the boat. Who knows what I’d be getting myself into.

05-03-2021 11:15pm

Green Mile wrote: »

This is an interesting read.

I seen a job opening up in the HSE for what I do and it got me excited. I’m in the private sector on a decent ok salary and an ok pension.

The job just says Grade VII salary. When I google it, it gives several salaries, I’m guessing I’ll be on the first point as I’ve never worked in public before?

Am I right that the employer pension is about 25%.

The thing is, I’m happy in the current job, so I don’t want to rock the boat. Who knows what I’d be getting myself into.

The pension post 2014 is a different beast

The pension from 1995-2013 is a middling beast

The pension pre 1995 is the one most people think they are referencing

A lot of private sector firms match contributions up to 11, 12% and with tax benefits its not the difference that the propaganda machines would have you believe

The hours, the stress, the training, all fair enough

The salaries, for experienced and qualified professionals, a good bit less

Weight it up, its a different answer for everyone- best of luck

AndrewJRenko · 06-03-2021 12:49am

[Deleted User] wrote: »

The pension post 2014 is a different beast

The pension from 1995-2013 is a middling beast

The pension pre 1995 is the one most people think they are referencing

A lot of private sector firms match contributions up to 11, 12% and with tax benefits its not the difference that the propaganda machines would have you believe

Good point. OP might want to clarify which pension he qualifies for currently.

cunnifferous · 06-03-2021 12:58am

Deleted User wrote: »

The pension post 2014 is a different beast

The pension from 1995-2013 is a middling beast

The pension pre 1995 is the one most people think they are referencing

A lot of private sector firms match contributions up to 11, 12% and with tax benefits its not the difference that the propaganda machines would have you believe

The hours, the stress, the training, all fair enough

The salaries, for experienced and qualified professionals, a good bit less

Weight it up, its a different answer for everyone- best of luck

This is 100% correct. I'm on similar wage in the HSE on a post 2013 contract and the pension is well....not great. When you take out the state contributory element that every PRSI paying worker is entitled to, it really is minimal. So much so that I need to take out a separate PRSA if I want to retire before 67.

C.O.Y.B.I.B · 06-03-2021 1:05am

Green Mile wrote: »

This is an interesting read.

I seen a job opening up in the HSE for what I do and it got me excited. I’m in the private sector on a decent ok salary and an ok pension.

The job just says Grade VII salary. When I google it, it gives several salaries, I’m guessing I’ll be on the first point as I’ve never worked in public before?

Am I right that the employer pension is about 25%.

The thing is, I’m happy in the current job, so I don’t want to rock the boat. Who knows what I’d be getting myself into.

Just on this , yes , you will likely start on point 1 which will increase every year.
GrVII is the highest mid-mgt grade where you still get flexi-time and still get to work "9-5" . Once you get promoted from there you lose flexi and there would be quite a few at GrVIII and up who would work a few hours evenings and weekends and may have more "stressful" jobs. Just something to bear in mind .
On the plus side depending on where you work if you are hardworking and ambitious you will standout and have opportunities to progress.
Hope that helps

beauf · 06-03-2021 11:47am

Never understood why higher grades lose flexi. Considering you'll have to work out of hours anyway.

Thomasirl123 · 06-03-2021 11:51am

jinish wrote: »

I did it. To match my pension, I should be contributing around 1000 per month:eek:

Would you mind sharing your calculations? I've applied for a public sector job but means a salary reduction.

barrier86 · 06-03-2021 11:52am

I went from a decent paying job with great perks and career prospects to a clerical officer role in civil service. Took a fairly big pay cut but at the time I could afford to do it. I’m happy I took the job in the public sector. I had a terrible first year in the civil service but that has sorted itself out and I am delighted to have made the change.

I say stay!

Mrs OBumble · 06-03-2021 11:56am

maxsmum wrote: »

The value attached to time before 9am and after 5pm being totally protected is just priceless
If you can live happily on current salary then stay where you are

You realise that for clerical/admin grades, the standard HSE contract now says you can be asked to work anytime from 8am-8pm, over 7 days.

It's still only 37 hours per week, but not always 9-5 at all.

beauf · 06-03-2021 1:18pm

There is likely to be a promotion, recruitment freeze after Covid. Rapid promotion might be hard to get. Even a wage reduction.

Chaos Black · 06-03-2021 6:02pm

Not HSE, but Civil Service and I like most around me am doing far more then the 37.5hrs a week for the past year since COVID-19.

9-5 job may exist in some public sector jobs, don't know if guaranteed anymore or in the future.

AndrewJRenko · 06-03-2021 6:06pm

beauf wrote: »

There is likely to be a promotion, recruitment freeze after Covid. Rapid promotion might be hard to get. Even a wage reduction.

That's a good point - OP should consider where they will have the best promotion or mobility opportunities, assuming that is of interest to them.

06-03-2021 6:09pm

Larbre34 wrote: »

Go calculate the personal contribution required to match your HSE pension, were you to join the private sector.

Then make yourself a big mug of hot sweet tea to get over the shock and get back to your HSE job for the rest of the day and try not to look too embarrassed that you even considered it.

You're welcome.

Depends what age he is and whether he wants to work till 68 or 70 to get the full PS pension.

SouthWesterly · 06-03-2021 6:13pm

Moved from private sector to public a few years ago.
Took a substantial cut in pay and haven't looked back.

I no longer do 70 hour weeks and have my phone ringing 24/7

whampiri · 07-03-2021 1:32am

I've done Private, public and self employed at various stages of my life.

Private is great when the economy is good. Bonuses, parties, "merit" based promotions etc but no job security.

Public is great for security but wages can be poor, promotion is based on competition and there's no such thing as a bonus.

I only did self employed for a bit and not long enough to be able to evaluate it properly (Less than a year), but its always on, but you can decide on your own jobs.

Having done them all, I'll be sticking with the Public service. Has its drawbacks, constant criticism from people but overall I prefer security over the possibility of earning a high wage.

Private vs Public

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