Municipal Employee Compensation in New York City

Source: Frank Braconi, New York City Comptroller’s Office, Budget & Policy Bureau, Winter 2011

From the press release:
The report found that New York City municipal employees are paid 17% less on average than their NYC private sector, for-profit counterparts. This is before adjustments for education and size of employer….

The study also found that:
* New York City employees are better educated, on average, than their private sector peers. Forty-nine percent of City workers have a bachelor’s degree or higher, compared to 41% of those employed in New York’s private for-profit sector.
* Large private, for-profit employers (those with more than 1,000 employees) pay wages that are 13% higher on average than small and midsize private employers.
* The City’s retirement cost contribution for most civilian workers is roughly equivalent to a large corporate employer’s cost of contributing to a defined contribution (a.k.a traditional pension) plan, if return-on-investment targets are met.

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