Federal Employment Salaries & Benefits
Individuals working for the federal government can find decent salaries depending on their experience level and the industry in which they work. Employees are also lucky to have really good benefits that range from child care resources to a three-part retirement program.
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Experience
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As with most employers, the federal government generally pays employees with the most experience higher salaries than those with less. According to PayScale.com, in 2010 veteran employees with 20 plus years of experience have a median salary of $84,800. Those with 10 to 19 years of experience have a median salary of $69,700. Federal government employees with five to nine years of experience have a median salary of $57,200. Those with the least experience (less than five years) have an approximate median salary of $46,000 in 2010.
Education
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The federal government pays individuals with more education higher salaries than those with a lower level of education. For example, federal employees with a Master of Business Administration report a median salary of $79,400 while those with a high school diploma report a median salary of $42,200 in 2010. According to PayScale.com, those with a Bachelor of Science (BS) in computer science have a median salary of $70,100 and those with a Bachelor of Arts (BA) have a median salary of $62,000.
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State
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Salaries for federal employers vary from state to state. Those working in the D.C. area have some of the highest salaries with a reported median of $80,400 according to PayScale.com. Those working in Maryland come in Maryland have the second highest reported median salary of $69,300. Those in Virginia have a median salary of $67,600 and those in California have a median salary of $64,600. Federal employees in Florida, Texas, and Georgia have similar median salaries of $56,100, $54,300, and $58,000 in 2010.
Industry
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The federal government employees people in various industries across the country. Federal government employees working in health care have median salary of $69,200 while those working in hospitals have a median salary of $56,800. When it comes to defense, federal employees working in national defense have a median salary of $69,300 and those working in aerospace and defense have a median salary of $73,100. Those in the military or armed forces have one of the lowest reported median salaries of $51,800.
Benefits
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There are various benefits to working for the federal government. According to USAjobs.gov, some of these benefits include a good health insurance program, 10 paid holidays each year, 13 days with sick leave, and between 13 and 26 vacation days. The federal government also has flexible work schedules, child care resources, adoption programs, child support programs, and "employee assistance programs." Once retiring from working with the federal government, you have a great three-part retirement program.
Retirement Program
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The three-part retirement program, most often called FERS (Federal Employees Retirement System), is available for government employees who meet the Minimum Retirement Age (MRA). For those born after 1969, this is 57 years old. The program consists of a Basic Benefit Plan, Social Security and a Thrift Savings Plan (TSP). Your agency pays into your TSP while both you and your agency must pay into your benefit plan and social security.
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- Photo Credit the capitol building in washington d.c. image by Gary from Fotolia.com
