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This presentation by Dr. David Rasmussen, Dean of the College of Social Sciences & Public Policy at Florida State University, explores the factors influencing wage differentials between public and private sector compensation. Key aspects discussed include education, skills, experience, benefits (including post-retirement), security, and cost of living. A case study comparison between Tallahassee, FL, and Austin, TX highlights the implications of varying living costs on compensation strategies. This analysis provides valuable insights for public sector compensation structures and policies.
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Comparing Public & Private Sector Compensation Presentation to the board by: Dr. David Rasmussen, Dean of the College of Social Sciences & Public Policy, Florida State University, June 7, 2011
Factors that Cause Wage Differentials • Education • Skills • Experience • Benefits (including post-retirement) • Security • Cost of Living • Compensating Variations
Tallahassee, FL – Austin, TX Cost of Living Comparison 100 = National Average • Austin is 22% more expensive than Tallahassee