Total Reward and pensions in the UK in the public and private sectors

Danzer, Alexander M and Dolton, Peter J (2012) Total Reward and pensions in the UK in the public and private sectors. Labour Economics, 19 (4). pp. 584-594. ISSN 0927-5371

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Abstract

Recent controversy has surrounded the relative value of public and private sector remuneration. We propose a comprehensive measure of Total Reward (TR) which includes not just pay, but pensions and other ‘benefits in kind’, evaluate it as the present value of the sum of all these payments over the lifetime and compare it for the highly educated in the UK public and private sectors. Our results suggest that TR is broadly equalised over the lifecycle for highly educated men while highly educated women have a clear TR advantage in the public sector by the end of their career. We suggest that the current controversy over public–private sector pension differentials and the perennial issues of public/private sector pay gaps requires a lifetime perspective and that the concept of TR is appropriate.

Item Type: Article
Additional Information: European Association of Labour Economists 23rd annual conference, Paphos, Cyprus, 22-24th September 2011
Keywords: Total Reward, Pension, Public sector, Sector switching, Lifetime earnings, Benefits in kind
Schools and Departments: School of Business, Management and Economics > Economics
Subjects: H Social Sciences
Depositing User: Janet Snow
Date Deposited: 20 Aug 2012 12:05
Last Modified: 04 Oct 2016 15:59
URI: http://sro.sussex.ac.uk/id/eprint/39840
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