 |
|
06-04-2008, 08:27 AM
|
#21
|
Recycles dryer sheets
Join Date: Oct 2007
Posts: 50
|
Rapoole, if you are still out there, I had a question. Would you really take a 90% pay cut for an AUSA position? Is it 10x better than a firm, or am I just looking at it the wrong way? Hope you are enjoying your new life!
|
|
|
 |
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!
Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!
You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!
|
06-04-2008, 12:42 PM
|
#22
|
Recycles dryer sheets
Join Date: Jan 2005
Posts: 118
|
Law Firm/AUSA
Hello Hoping.
In deciding whether to make the jump to an AUSA job, I took into account the fact that your financial position was already pretty secure. I got that from reading other forums here.
I took the 90% pay cut with a grain of salt. I am retiring at the top of the salary scale - $150K. I am retiring with a pension and lifetime health benefits. Not many criminal litigators even at big firms earn 10 times that much with comparable benefits.
If the USAO is bringing you in at a much lower salary, your raises will come fast in the early years. You will have job security. You will have interesting work (most of the time). Chances are you will have the option to retire after 20 years with a pension on an early out offer.
Law firm existence is pretty grim in my experience, and the headlines bear that out. Job security appears illusory. Defined benefit plans are the exception. Most people I know at firms are locked into the high cost lifestyle choices that would make early retirement impossible.
So, would I really take a 90% cut? The answer is, how much do you need the money today (you indicated substantial savings and high-earning spouse), how much do you really like what you are doing now (I am guessing you are ambivalent at best), and where do you want to be in 5, ten and 20 years? I don't know of any classmates who at 55 are walking away from their present career with an income, substantial savings, health insurance, and the freedom to start anew. Which is what I am doing. Your mileage may vary.
Best,
rapoole
|
|
|
06-04-2008, 12:51 PM
|
#23
|
Recycles dryer sheets
Join Date: Jan 2005
Posts: 118
|
New Life
Cleaning out the office today with a song in my heart.
New life begins Friday afternoon.
rapoole
|
|
|
06-04-2008, 12:51 PM
|
#24
|
Recycles dryer sheets
Join Date: Oct 2007
Posts: 50
|
Rapoole, Thanks for the thoughtful response. It really is a 90% pay cut, actually even more than 90%. Assuming I eventually make it to the 150k mark, which will take a while given where I am starting, it would be an 80+% pay cut. I keep getting stuck on the fact that if I stay with my firm another year or so, I will likely have over $5.5 million, more than enough to retire comfortably. But then I think about the fact that I am young and, if I had a job I loved, I probably could work at least another 10 years. My firm may be an exception to the rule, but we have great benefits, a defined benefit pension plus 401k, job security, etc. So the question is whether I will love the AUSA job so much that it will compensate for everything I would give up. Never having been a prosecutor, I am finding it very difficult to make that assessment. Thanks again for your insights.
|
|
|
06-04-2008, 01:01 PM
|
#25
|
Recycles dryer sheets
Join Date: Jan 2005
Posts: 118
|
Hoping
Being an AUSA is still a job and you will still have bosses. It's a question only you can answer.
|
|
|
06-05-2008, 06:51 AM
|
#26
|
Recycles dryer sheets
Join Date: Apr 2007
Location: Sebring
Posts: 201
|
Hoping - I am hoping that your spouse is on-board with the traveling requirements that rapoole mentioned, that would have caused some stress in the marriage. I would never take a traveling j*b. Good luck with your decision.
Rapoole - Congrats on your FIREing and enjoy the kayaking!
|
|
|
06-05-2008, 06:57 AM
|
#27
|
Recycles dryer sheets
Join Date: Oct 2007
Posts: 50
|
BigBob, the AUSA job, unlike Rapoole's job, would not require much travel. Rapoole was based at DOJ in DC and had cases all over the country. An AUSA is limited to a certain district. If I stay at my present job, I will have a lot more travel, both for my cases and cross-country to see DH. That's one of the main reasons for me to take the AUSA job. Thanks!
|
|
|
 |
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
Thread Tools |
Search this Thread |
|
|
Display Modes |
Linear Mode
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
» Quick Links
|
|
|