The Congressional Budget Office (CBO)released a study telling Americans if they want a raise, they should go work for the federal government, because federal workers are compensated much better than those in the private sector. The CBO did an apples to apples comparison of federal and private sector employee salaries and benefits from 2005-2010. The compared workers who were similar in the following characteristics:
- Level of education
- Years of work experience a
- Occupation
- Employer’s size,
- Geographic location (region of the country and urban or rural location)
…and what they found was staggering.
- Demographic characteristics (age, sex, race, ethnicity, marital status, immigration status, and citizenship).
Salary:
- Federal civilian workers with no more than a high school education earned about 21 percent more, on average, than similar workers in the private sector.
- Workers whose highest level of education was a bachelor’s degree earned roughly the same hourly wages, on average, in both the federal government and the private sector.
But it’s the benefits that make the difference:
- Federal workers with a professional degree or doctorate earned about 23 percent less, on average, than their private-sector counterparts. Overall Federal civilian employees receive 2 percent more in cash wages than private-sector employees.
- Average benefits for federal workers with no more than a high school diploma were 72 percent higher than for their private-sector counterparts.
- Average benefits for federal workers whose education ended in a bachelor’s degree were 46 percent higher than for similar workers in the private sector.
- Workers with a professional degree or doctorate received roughly the same level of average benefits in both sectors.
- Overall Federal civilian employees enjoy a 48 percent advantage over their private-sector counterparts.
If you wish to read the entire CBO report click here.
No comments:
Post a Comment