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Compensation and Benefits Package for an Executive Manager at the US Federal Government Agency
Type of Equity
An executive manager at the US Government Agency is compensated with employee stock options. Employee stock options are common stocks of the company that is given to the executive managers in return of their high-level performance in the organization. Executive managers are granted with two different types of employee stock options that are known as Incentive Stock Options and Nonqualified Stock Options (Hallberg, 2011). These stocks are restricted in nature that is nontransferable.
Salary Structure
The salary structure of an executive manager includes different monetary benefits provided to motivate them at their job. It has been found that the basic salary ranges between $50,000 and $120,000. Executive managers are provided with a bonus of $0 to $50,000. In the case of profit sharing, they are compensated from $0 to $50,000. The executive managers are paid a commission of $2,000 to $50,000. Hence, it can be seen that the total pay of an executive manager in a government agency lies between $52,000 and $170,000 on an annual basis (Ellig, 2008).
Pay differentials
The compensation packages of an executive manager vary with their experiences and location. Compensation and benefits increases with the increase in the experience of the managers. For example, entry level managers get around $50,000 with an experience of 0 to 5 years. The basic salary increases to around $120,000 with an experience of more than 20 years. The national average salary is around $70,911. In New York, the average salary is around 127% whereas in Austin it is around -7%. Hence, the location also influences the salary of an executive manager.
In order to discuss the required compensation and benefits plan for an executive manager at the US Federal Government Agency, there are significant numbers to fringe benefits to be mentioned. The given benefits must include relocation assistance, Medicare facility, retirement benefits, long-term health insurance plans, life insurance plans, and child care benefits, shipping benefits, wellness program facilities and significant discounts (Florence & Thorpe, 2003). In order to respond to the particular work responsibility and contribution to the US Federal Government Agency, the executive manager has been provided adequate tax benefits and tax deductions facilities. Apart from that, lower costs of health insurance and wellness program have been added according to the need of the individual (Ellig, 2014). Meanwhile, an executive manager working at US Federal Government Agency’s human resources management has got executive benefits that include flexible expenditure accounts and associated fringe benefits other than salary.
Discretionary Benefits
An executive manager at the US Federal Government Agency has been incorporated significant discretionary benefits program so that it can motivate the performance of the individual. The discretionary benefits program for an executive manager focuses on significant design and accomplishment challenges, retirement benefits, life insurance and health and medical benefits (Feldman, Thorpe & Gray, 2002). According to guidelines set by the particular federal agencies, proper discretionary benefits have been provided to the executive manager to compliment their effort and support to the Federal organization. Apart from that, premium pays, and paid leave advantages have been given to the executive managers as a form of discretionary benefits.
References
Ellig, B. (2008). Executive Pay Plan Financial Measurements. Compensation & Benefits Review, 40(5), 42-50. http://dx.doi.org/10.1177/0886368708324366
Ellig, B. (2014). Long-Term Incentive Plan Combinations. Compensation & Benefits Review, 46(1), 10-15. http://dx.doi.org/10.1177/0886368714529918
Feldman, R., Thorpe, K., & Gray, B. (2002). Policy Watch: The Federal Employees Health Benefits Plan. Journal Of Economic Perspectives, 16(2), 207-217. http://dx.doi.org/10.1257/0895330027201
Florence, C., & Thorpe, K. (2003). How Does The Employer Contribution For The Federal Employees Health Benefits Program Influence Plan Selection?. Health Affairs, 22(2), 211-218. http://dx.doi.org/10.1377/hlthaff.22.2.211
Hallberg, D. (2011). Economic Fluctuations and Retirement of Older Employees. LABOUR, 25(3), 287-307. http://dx.doi.org/10.1111/j.1467-9914.2011.00522.x
