USA TODAY today compared federal pay with private industry pay. Two major conclusion:
1. The typical federal worker is paid 20% more than a private-sector worker.
2. The federal worker get more than 4 times in benefits ($40,785) than private worker ($9,882).
One thing is missing from this analysis – job security. The federal worker has his job more secured on at least three levels:
1. he is almost never fired,
2. his department will almost never be closed,
3. his employer will never goes out of business.
The free market values job security. Tenured professors are getting probably a half of what they would get if they worked in private industry but they don’t want to switch to private sector mainly because of the job security.
So the true discrepancy is much higher.
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