<p>Statistically speaking, would it be correct to say that working for International Organizations such as IMF or ON or to public governments related to diplomacy pays pays better at initial carer stages, but when compared to banks at bigger positions such as executive the banks can pay higher salaries?</p>
<p>Thanks !</p>
<p>No. I’m pretty sure private firms (if by “banks” you mean investment banks) pay more than the public sector at every single level.</p>
<p>Not true. If you are talking about purely salary, that is closer to true, but public sector full compensation packages are actually quite good in some cases. Generally health benefits are significantly better; there is more opportunity for education reimbursement and government vehicle. Government packages also often include a pension plan, which can be extremely generous (in my state, it is possible for state employees to have a pension greater than their highest salary if they have enough time in). The stability of government jobs is also significant - you probably aren’t going to be laid off from the government, but there is always a chance you’ll lose your job in the private sector.</p>
<p>If you’re talking about the big time banks, then no, the government won’t be close to matching them, but the littler guys don’t have as much money to throw around, so sometimes there is a value proposition to make for people going into government service.</p>
<p>This is usually a loaded question because there are so many variables that people who aren’t in government sector can’t begin to understand.</p>
<p>When you’re working at an Investment Bank, you probably work over 60 hours a week, so it’s very likely that’s your sole source of income.</p>
<p>In government, you’re probably working somewhere close to 40 hours a week up to a GS13 (~90-105k). Now what people usually forget is that that your schedule may be incredibly flexible and offer incredible benefits. Many also serve as military reservists which could add anywhere from 10-35k/year in additional income. Don’t forget, these guys are now stacking dual retirements (federal + military). Chances are they also live in an area with a much lower cost of living than where investment banks will require you to live. </p>
<p>So if you ask: “What is the income for a particular job?” Without accounting for cost of living, finance sounds great!</p>
<p>But if you change your question to account for: cost of living/living standard, income based on a 50-60 hour work week (civilian + reservist), savings/retirement, the perspective changes dramatically.</p>