Tuesday, November 01, 2022

Transparency in salaries

ABC is reporting on a new "transparency" movement on salaries led in part by a Tik Tok spox/influencer. I heard the usual, especially POC and pay gap. However, unless you also ask about benefits and history with the company, it's meaningless. Elementary school teachers, look it up, make about $75/hour according to the Bureau of Labor Statistics if you factor in benefits. And it's much higher for those in administrative positions. Nothing makes people more unhappy than saying teaching is one of the best paying professions in the U.S. Also, government workers, which are heavily female and black, make far more than the private sector. Norma has the facts. Media lie. Politicians lie. Unions lie.

Total benefit costs consist of five major categories and include 18 benefit costs:
• Paid leave - vacation, holiday, sick, and personal leave;
• Supplemental pay - overtime and premium, shift differentials, and nonproduction bonuses;
• Insurance - life, health, short-term and long-term disability;
• Retirement and savings - defined benefit and defined contribution; and
• Legally required benefits - Social Security [refers to Old-Age, Survivors, and Disability Insurance (OASDI) program], Medicare, federal and state unemployment insurance, and workers’ compensation https://www.bls.gov/news.release/pdf/ecec.pdf 

Look specifically at Table 2 and Table 3 by occupational group. If BLS is wrong about teachers, then it's also wrong about accountants and truck drivers.

That said, I think teaching is one of the most difficult and important jobs; it's just too bad that their union leaders are such crooks.

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