Give and Take For Public sector Pay cuts!

[meriwether2]

Any formula that can accurate quantify risk will invalidate it as a risk.

Risk will always have a degree of uncertainty regardless of how measured it is.

A risk is a gamble.

Thats complete horsh********************.

If I put 10k on the flip of a coin (at evens), I can quantify the risk as an evens chance of losing all 10k.
That risk is not mitigated because I can quantify it.

Thats precisely why they are in the sh*t they are in.

Again with the triteness.

Security equals low risk.
Risk can be quantified.
Security can therefore be quantified.

End of.

[riker1969]

Well of course it does - what do you expect? An 800,000 page report outlining details of every worker.

Find any report including INTO/ASTI reports and they'll work off averages...and rightly so.

Even in the midst of the benchmarking grab, no union or representative body came out and said "I know this one lad and he found it really, really difficult to get a €xxk mortgage "


It'd be like Lenihan or Harney justifying the medical card withdrawal by saying "I know this old guy and he's loaded"!!

OBVIOUSLY (YOU NUT)-would not expect that detailed report but would it overload your brain if they gave the average age and average experience of a professsion such as Teaching. Perhaps-throwing in the number of years temporary a teacher normally is (before Permanency) would break down the brain cells but the first 2-surely not??!

[Dreaded_Estate]

I'm not being silly at all.

They do not lend because the they place a higher monetary value on Job security , they lend because that job security lessons the risk of the loan being defaulted.

Again this does not translate into a monetary value. Being able to get oneself into debt is not a justifiable reason to cut somebody’s salary.

Again, the BMA looked at SoT and dismissed it as unquantifiable (they actually stated it was irrelevant) in the last round of benchmarking. So this entire sub thread is really of no relevance what so ever.

i see you have completely ignored the method i proposed to quickly value job security. Economic Value of Job Security = Probability of losing job X Salary
What do you think?

[Oppenheimer]

I dont, Banks do, in part, along with credit history, salary and any verifiable disposition toward saving.

If you lower someones salary you also lower their credit rating (the amount they can borrow) as salary is and always will be considered among the primary factors much more so than SoT.

But you, by admission that the banks ascribe a lower risk, acknowledge that, someone other than you, that is an important element of society (the banks) and therefore people's lives, there is lower risk of being made redundant from a permanent public service job than from a private sector job, in recessionary times?

[Conor]

i see you have completely ignored the method i proposed to quickly value job security. Economic Value of Job Security = Probability of losing job X Salary
What do you think?

You've got something screwy there. If salary = €100k, and probability of losing job = 0, you're saying the economic value of job security is zero.

There's an indicative methodology here, but I'd caution that it's very weak, and the figures used are purely plucked from the air for indicative purposes.

[Dreaded_Estate]

You've got something screwy there. If salary = €100k, and probability of losing job = 0, you're saying the economic value of job security is zero.

There's an indicative methodology here, but I'd caution that it's very weak, and the figures used are purely plucked from the air for indicative purposes.

You are correct. Should have been probability of losing job if you weren't in the public sector.

[DeathKnell]

OBVIOUSLY (YOU NUT)-would not expect that detailed report but would it overload your brain if they gave the average age and average experience of a professsion such as Teaching. Perhaps-throwing in the number of years temporary a teacher normally is (before Permanency) would break down the brain cells but the first 2-surely not??!

See.. Why should teachers be paid by time served and age.. It should be performance related..!!!!!

*hears sound of another can of worms opening*

[hopi watcher]

See.. Why should teachers be paid by time served and age.. It should be performance related..!!!!!

*hears sound of another can of worms opening*

How can that be measured and particularly when you are talking about net pay as opposed to a bomus system?

[Oppenheimer]

How can that be measured and particularly when you are talking about net pay as opposed to a bomus system?

Let's just incorporate our previous discussion on this by reference eh? Base pay on a scale, increments by a set of measures, including time served, but not ONLY time served.

[hopi watcher]

i see you have completely ignored the method i proposed to quickly value job security. Economic Value of Job Security = Probability of losing job X Salary
What do you think?

Thank christ you are not a teacher.