When I was a kid, everyone new that civil service jobs paid less, but they had great retirement benefits and job security, not unlike the $87.00 a month I earned as a Private in the U.S. Army.
When I was a kid, everyone new that civil service jobs paid less, but they had great retirement benefits and job security
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When I went in the ‘work force’ late 60’s it was either work for the Govt(any form) for security, the private sector paid a bit more with few bennies .. of course 100 per week was not all that shabby and if you made 10grand a year you were ‘rich’.
FICA was stopped when you reached a certain level and the ‘automatic’ raise was to make sure if FICA stopped in Sept this year, that it would stop in Sept the following year.
Reagan came along and one of his acts was raise the FICA to 100,000 (believe they used the ‘excuse’ no sense letting all those rich guys get away with not paying their ‘fair share’...)
The big difference was that after a few years, the guy that went to work for the City, was getting regular raises, had vacation, retirement, paid sick leave and insurance.
We had none of that with the joke being “better negotiate what pay you want when you get hired, you will be ‘stuck’ with it for a few years”.
Eventually 401K were offered, started giving health insurance (I opted for cash as was covered by my wifes GOVT policy).
The other thing ‘earned’ while for the Govt was your credit was pretty stabilized when it came to buying a house because after a few years your job was pretty much ‘secured’.
Then the Unions got into Government and they continued to get the good, steady pay, all the bennies and a union to suck money out of them.