Greten, Timothy LTJG
Here is my two cents:
1. Like many classmates, I am working on my masters at night. I am getting a Masters in Public Administration at American University: I should be finished next summer. While I am leaning towards getting out, the degree is useful no matter what. The flip side is that it likely will not be as lucrative as an MBA if I do leave.
2. There is a strong possibility that if I do leave, I will remain in government service in some capacity. At least at the federal level, there is going to be tremendous attrition in the next five to 15 years in the senior management ranks (i am talking GS-14 thru the S.E.S.s, or the capt's and admirals of federal service). The general feeling is that if you are going to go into government service, this is a good time to do it. Is the money as good as earning mid six figures as a lawyer or consultant that works 90+ hours a week? no. Will still be working more than 40-50 hours a week if you are in higher ranking government service? Likely.
3. I accept the fact that I when I leave, I will likely take a bit of a pay cut (even w/my masters). From what I figure, an LT w/5 yrs of service makes the civilian world equivalent of $63k or so in Washington, DC, plus vacation and medical benefits. This takes into account tax advantages of BAH and the subsistence allowance, not being a VA, DC, or MD resident, shopping at the commisary (which makes one heck of a difference here--about 30-40% less than normal grocery stores), etc. Starting in a different government agency, I will probably not be paid as well.
However, I will also be able to capitalize on the masters degree, and experience gained, and hopefully get promoted one heck of a lot faster than I would in the CG. Seniority is part of the picture in the GS realm, but personal qualifications/ambition play a part, too. In the Coast Guard, the only way to get promoted faster is to be deep selected (not gonna happen!) or for the people ahead of you to meet an untimely demise. And of course, you can always not get promoted! (its kind of "downside w/no upside").
4. There are still several things I am trying to find out about. For instance, how does our 9 yrs in the CG factor in to other govt positions (seniority wise, retirement wise, etc)? How good of a deal is the reserves?
As a final note, I am not married, and have no children; therefore, my "risk tolerance" is higher than others. In fact, this seems to me to be the best time for me to make a drastic transition, as I will only be hurting myself if things don't work out the way I want right away.
Good luck to everyone!
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