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| *Ostroff, Fair and Company>>>Government & Non-Profit |
What are the benefits of working for the government rather than the private sector? |
i'm an econ major graduating next year. just thinking about career paths, i know private sector pays more, but are there other benefits that are not monetary from government jobs (like the federal reserve). Good pension scheme & good future prospects hours are more flexible in the government, they don't watch you like a hawk, you have more freedom. Working for the Federal Government - Benefits Pay is only part of the compensation you will earn working for the Federal Government. We offer a broad array of benefits programs and family friendly flexibilities to meet the needs of you and your family. Here are some highlights. Look for additional information along with links to pages that spell out the details below. Our health insurance program is a nationally recognized model that offers you choice and flexibility along with a substantial employer contribution to premiums. And you can pay your share of premiums as well as your out-of-pocket costs with pre-tax dollars. Our leave policy provides ample time off to take care of your personal, your recreational and your health care needs. In addition to 10 paid holidays every year, you will accumulate 13 days of sick leave each year along with from 13 to 26 vacation days, depending on your years of employment. To help you manage responsibilities outside of your jobs and enhance your peace of mind while you are at work, Federal agencies offer a range of family friendly flexibilities including flexible work schedules, telework; child care and elder care resources; adoption information and incentives programs; child support programs, including subsidies and dependent care flexible spending accounts; and employee assistance programs. In addition to these programs that we know will be of interest to you right now, the Federal Government recognizes the need for income replacement and income support benefits down the road. Our 3-part retirement program includes a social security benefit, a 401(k) type plan, and a defined benefit component based on years of employment and salary history. In addition to retiree health insurance benefits under the FEHB Program, you also will be eligible for Medicare. You will be able to choose among several options for life insurance coverage for both you and your family members. We offer the largest group long-term care insurance program in the country. As a new employee, you can apply by answering just a few simple questions. And you can tailor your benefits package to your own needs. As a new employee, you may be eligible for some special bonuses such as a recruitment bonus or a relocation bonus. This will be at the discretion of your employing agency. Other programs you may want to ask about include: incentive awards; employee development programs; student loan repayment programs; retention allowances; and interagency transfers. All agencies support community service and encourage participation in the annual combined Federal campaign. http://www.usajobs.opm.gov/ei61.asp... Job security, most of all. Government employees do not get laid off as much, and as you move up the ladder, you are less likely to get fired (however, government offices can shut down due to budget problems, so no one is safe!) Government employees also have good benefits. The downside is that the pay is under what you would do in the private sector. So don't expect to get rich. |
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