Working for the Federal Government

So, I’m going to be an accounting major. I am really interested in working for the FBI or the CIA as an accountant. I would be down to work in other government agencies also. A big reason for wanting to do this is that the federal government offers great benefits (and you get federal holidays off). Is it difficult to get employed with the government straight out of college?

Is it possible to make lots of money if I work for the government? I’m gonna be honest, being rich is something that I really want in life (I consider rich to be making 80,000+). Growing always having to worry about finances tends to make me want to be financially secure in my life.

@GreenTeaFanatic Sent you a pm

@GreenTeaFanatic you’ll almost always need a Top Secret clearance, which is a fairly long and tedious process (listing everything about yourself and people you know, passing drug/polygraph tests, etc.). If you apply for TS clearance, just make sure you don’t commit any felonies, do illegal drugs, or go on suspicious foreign travel or other things of that sort.

Salaries for government and government contractors tend to be significantly higher, due to the clearance needed and the nature of the jobs themselves. But make sure you enjoy doing that work and can see yourself doing it 20-30 years from now.

@MITer94 You have to do a polygraph test for a TS clearance? Wow, I didn’t know that. Do they ask super personal questions (about relationships or sex)?

Does the IRS require TS clearance? I read an article saying that the IRS wants to hire more younger people/millennials, so that is also an agency that I would be interested in.

@GreenTeaFanatic for TS, you may have to, but I’m not sure. I have a Secret clearance and did not have to take a polygraph (though I did have to take a drug test). As long as you answer everything truthfully you shouldn’t have to worry about it.

They ask questions regarding your relatives, people who know you well, foreign contacts, spouses/cohabitants, etc. I don’t remember the exact details. You can google SF 86 if you wish.

Just to work for the IRS, I highly doubt it. If the position you are in involves handling classified information in any way, then you’ll need the appropriate level clearance. Again, that’s something you shouldn’t worry about until you accept the job offer.

I think federal workers have some mobility across agencies so you can start in one agency and end up in another. It is true that there are some perks for federal employment but the salaries aren’t really that great

@CheddarcheeseMN Ahh, that’s disappointing. The lower salary part is a bummer. Maybe I should aim to work for a Big 4 accounting firm after college and then try to go for federal employment when I have more experience/CPA.

@MITer94 TS clearance doesn’t worry me. I’m not a liar and I don’t have a shady life, just some “interesting” family dynamics.

@GreenTeaFanatic okay – you don’t really need to worry about the clearance process anyway (for now), just make sure you’re aware of it.

Many private employers also have excellent benefits and give you most federal holidays off. I work for a large technology company and I get 10 days off per year, 8 of which are federal holidays (instead of Veterans Day and Columbus Day, we get the day after Thanksgiving and Christmas Eve). I also get two additional “floating holidays” of my choice. For PTO, I get about the same amount of paid time off as a federal employee at my same level, and I also have an additional two weeks of sick time. There are a lot of other perks and benefits I get at my job that are better than a federal job (for a minor one, I can wear casual clothes to work! For a bigger one, I set my own work hours - I currently work 9:30 to 6:00, but if I get in around 9:45 it’s not a problem.)

[url=https://www.accenture.com/us-en/careers/your-future-rewards-benefits]Accenture[/url], [url=http://www2.deloitte.com/us/en/pages/careers/articles/life-at-deloitte-benefits-and-rewards.html]Deloitte[/url], [url=http://www.ey.com/US/en/Careers/Students/Life-at-EY]E&Y[/url], [url=http://www.pwc.com/us/en/careers/campus/why-pwc/employee-benefits.html]PwC[/url], and [url=http://us-jobs.kpmg.com/why-kpmg/benefits]KPMG[/url] all offer excellent benefits - time off that rivals the federal government, really low health premiums on good medical coverage, discounts on gyms and fitness memberships/equipment, parental leave, employee assistance programs, 24-hour health lines, low-cost insurance, the works!

What I would say do is investigate a wide range of employers - federal, nonprofit, private, whatever - by their benefits. Don’t assume that a company has better or worse benefits just because it sits in one class or the other; instead, ask your recruiter or interviewer or hiring manager what the benefits are for a given position/company/department.

The Bureau of Labor Statistics says the average salary for accountants and auditors is just over $67,000 a year (http://www.bls.gov/ooh/business-and-financial/accountants-and-auditors.htm). Accountants that work for government average $65,000, but that includes federal, state, and local government; state and local government accountants are going to make far less money than federal accountants. Also, federally, your pay is dependent upon where you work; certain higher-cost cities get locality pay on top of the base pay on the GS scale (but that’s to offset the higher cost of living in those areas, too).

One post from an accounting site posits that new accountants at Big 4 firms make around $50,000 to start out. But by about year 3-4, you’re closer to $70,000, and at around year 5-7 you’re at about $94,000. So you can certainly make $80K as an accountant, particularly at a Big 4 firm, and especially if you stick around long enough to go through the management chain.

@julliet wow, you just gave me a lot of new information. I was under the assumption that the federal government gives the best benefits to employees, which is why I set my sights on working there.

I think I should probably shift my focus to working for Big 4 or other large accounting firms. Also, I like the sound of making $70,000 in 3-4 years :slight_smile: Since I’m aware that the starting pay for most recent grads tends to be on the lower end, making $50,000 starting at a Big 4 is great!

My friend works for a federal agency that does the background checks for security clearances. They dig pretty deep, so behave yourself (in person and on-line).

As a long time CPA, I would suggest starting in public accounting rather than governmental. Earn your CPA, learn about your options in the accounting industry and then decide where you really want to go. There can be long hour in public accounting, but some firms do work 9 - 5ish. My first CPA firm (20 person local firm) was little to no over-time.

The money will be MUCH better in public that governmental. Trust me, I know first hand as one of my duties at Deloitte (way back when) was preparing tax returns for the firm’s partners.

Also, try to really gain an understanding of fraud detection and forensic accounting and decide whether or not it interests you.

Good luck whatever direction you choose to go!

@arc918 Thanks for the insight! I looked at google maps and there are about 15 accounting firms near my college campus, so i’ll have some good options when I decide to do an internship junior/senior year. I do intend to get my CPA since since it will open the door to higher pay and more career options.

I want to ask, is it true that during tax season I should anticipate working 80 hours a week? I read some posts on reddit awhile back (mainly people complaining about their jobs) and some people said they work crazy long hours. Some guy who who worked for KMPG said he works 100 hours a week (I hope he’s just exaggerating)

@GreenTeaFanatic

My dad is a government employee and works for the US Army Corp. of Engineers. He recently got promoted and is still undergoing a background check required for the promotion. The people doing the background check questioned him about a “General Discharge” from the army and asked why it wasn’t a “Honorable Discharge.”

Background checks are tedious, sure. But, the pay is good… especially if you go overseas: the government pays for your house and gives you an allowance.

My grad school roommate had to go through a background check for a clearance, and she was working for a federal contractor at one point. They called me and asked me personal questions about her.

My high school best friend’s parents were both accountants and they did work crazy long hours during tax season.

Ahhh, perfect. I can’t wait to be working insane hours during tax time…

PM’ing you

Federal government jobs may offer more job security than private sector jobs, but the pay certainly isn’t rich.

Federal pay scales table
http://www.fedjobs.com/pay/pay.html