Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/51805 
Year of Publication: 
2011
Series/Report no.: 
IZA Discussion Papers No. 5656
Publisher: 
Institute for the Study of Labor (IZA), Bonn
Abstract: 
Recent controversy has surrounded the relative value of public and private sector remuneration. We define 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 in the UK public and private sectors. Our results suggest that TR is equalized over the lifecycle for men while 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 life time perspective and that the concept of TR is appropriate.
Subjects: 
total reward
compensation
public sector
pensions
wage differentials
JEL: 
J33
J45
H55
J31
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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