When you choose a career, two of the biggest factors to consider are your benefits and your salary.
If you’re the kind of person looking to make $500 million a year (a la Michael Milken), stay in the private sector. But for the rest of us, becoming a government employee seems like a more lucrative option.
According to the BLS, total employer compensation costs for civilian workers, which include private industry and state and local government workers, averaged $29.40 per hour worked in September 2009.
Total employer compensation costs for private industry workers averaged $27.49 per hour worked in September 2009.
State and local government employers spent an average of $39.83 per hour worked for total employee compensation in September 2009.
But the killer part lies in the benefits. Health benefit employer costs were $4.43 per hour worked for state and local government and $2.01 in private industry. Ouch!
Get This Delivered To Your Inbox
You can get this dropped in your inbox every afternoon as The Chart Of The Day. It’s simple. It’s convenient. It’s free. All we need is your email address (though we’d love your name and state, too, if you’re willing to share it). Sign up below!
Email State First Name Last Name
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.