bonuses represent about 6% of gross earnings for finance and insurance, compared to about 1% for all other service-providing industries.
Bishow examined the use of overtime, nonproduction bonuses, and shift differentials in the finance and insurance sector of the economy.
Other Bishow findings included:
- Supplemental pay accounts for 6.9% of gross earnings in finance and insurance, compared to about 3.3% for the service-providing sector overall. “Relative to other industries, finance and insurance is among the industries that pay the highest percentages of gross earnings in the form of supplemental pay–on a par with utilities and wholesale trade, and clearly greater than industries such as educational services, accommodation and food services, and retail trade,” Bishow wrote.
- Within sales and office occupations, the percent of gross earnings received as supplemental pay is higher for the finance and insurance industry than for all other service-providing industries – 5.5% for finance and insurance; 2.3% for all other service providers. The higher percent of gross earnings received as bonuses accounts for this difference: 4.8% in finance versus 1.3% for all other service providers
- For securities, commodity contracts, funds, and trusts, 12.7 % of gross earnings is received as bonus pay.
The report is available at http://www.bls.gov/opub/cwc/cm20100416ar01p1.htm.
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