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Reply to "Compensation and pension at Federal Reserve"
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[quote=Anonymous]Someone mentioned cash awards. I wouldn't consider that. In many divisions, they amount to around $500, hardly worth it. Mostly, it is the thought that counts. Over the years, pay increases have often been very influenced by economic conditions and the need to "set an example." High inflation? Pay increases will be well under the headline numbers. Recessions? Increases need to be modest in light of unemployment rates. In some divisions, promotions can be quite difficult to get once you get to a 12 or 13 equivalent. Getting a 15 equivalent is usually competed and you need to fit the current management mold But compensation overall is very good, and the pension is even better. It is the place to be if you are planning to work to 70; there is a multiplier on the pension amount for the standard retirement age of 65 that increases monthly until you are 70. [/quote]
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