THE RELATIONSHIP BETWEEN AVERAGE WAGES IN THE PUBLIC AND PRIVATE SECTORS IN THE REPUBLIC OF SRPSKA REGARDING MATCHED LEVELS OF EDUCATION
Journal Title: EMC Review: Časopis za ekonomiju i tržišne komunikacije - Year 2015, Vol 5, Issue 1
Abstract
Public and private sector are complementary parts of each economy. If they do not comply it is not possible to achieve continuous economic growth. However, there are important differences between these two sectors. One of the differences is in the level of average wages of employees. In transition economies, such as the economy of the Republic of Srpska and Bosnia and Herzegovina, the public sector has more important role in the overall economic relations, then in developed countries. Therefore, public sector is more attractive to workers because of the safety of salary, full compliance with applicable legal norms and other factors. In the public perception of the Republic of Srpska, there is an opinion that the average wages in the public sector are significantly higher than the average wages in the private sector, which can be considered as one of the conveniences of employment in the public sector. The aim of this paper was to answer to the question whether and to what extent the average wages of employees in the public sector differ from the average wages in the private sector in the Republic of Srpska, regarding matched levels of education? The analysis included the average wages of workers with university education and secondary education. We came to the conclusion that the average wages of workers with a university degree are higher by 4.1% in the public versus private sector, while the average wages of workers with secondary education are 34.9% higher in the public versus private sector. These results should be viewed through the prism of the limitations of research, which we described in detail in the text.
Authors and Affiliations
Boban Sašić, Vesna Novaković
Keywords
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