Average government salaries are competitive with the private and non-profit sectors. Top candidates with work experience and strong academic backgrounds can quickly increase their pay. Working for the federal government provides federal benefits, including health insurance, retirement, and vacation which can be superior to other sectors. Some benefits of working for the federal government are discussed below:
Assurance of employment or job security
The federal government gives increased employment stability, which is a desirable commodity in an unpredictable market. Private employees are three times more likely than federal government employees to be fired than public employees.
Increases in compensation
Employees of the federal government are paid competitively, with the extra benefit of large annual raises. Between 1951 and 1991, state and local government employees received $1.37 in raises for every $1.00 earned by the average private employee. Employees working for the federal government were paid $1.91 per hour. Since 1980, the rate has accelerated, with state and municipal employees receiving an average of $4.78 for every $1.00 received by private-sector workers.
Holidays And Vacations
State and local government employees, as well as federal civilian employees, get roughly 1.5 years more vacation and holidays than the average private employee throughout the course of their careers. The typical state or local government employee receives 9.9 more paid vacation days and holidays than their private-sector colleagues, with federal employees having 13.
Increased vacation time means that employees are fairly compensated for their work hours and are given adequate time and resources to recover so that they may perform better at work. Employees in the government are typically given extra paid sick and vacation days which is a very important benefit of working for the federal government.
Numerous Health Advantages
The Federal Healthcare Benefits Program, or FHBP, offers the most health-care options of any employer in the United States. While government health care benefits are sometimes inferior to those provided by private businesses while an individual is employed, most government health care plans offer better benefits to retirees than private health care plans.
Retirement Benefits that are Bountiful
When it comes to retirement, federal employees have the option of retiring sooner than their private-sector colleagues and have access to better retirement plans through the Civil Service Retirement System (CSRS) or the Federal Employee Retirement System (FERS) (FERS).
Retired employees in both programs get an annuity in addition to Social Security benefits and participation in the Thrift Savings Plan (TSP), which provides 401(k)-style investment possibilities. Retired federal employees can also keep their health insurance at the same monthly rate they had before they retired.
Insurance for life
FEGLI (Federal Employees’ Group Life Insurance) is the world’s largest group life insurance program. It covers nearly 4 million government employees, including active and retired, as well as their families.
Child and dependent care For federal employees with children or dependents, there are a variety of services available. To find out what specific child or elder care is offered in your workplace, speak with the human resources professionals at your particular organization.