Andre1969
Thinks s/he gets paid by the post
I agree, seems high.
Then I took a second and thought about it - what goes into fringe rates at UPS. Who knows? On 100k salary, for example
7,650 = 7.65% FICA paid by UPS - maybe this is not allocated to fringe
7,700 = 4 weeks holiday pay (100/52 x 4)
5,000 = 13 holidays (100/52/5 x 13)
1,900 = 5 sick/personal days (100/52/5 x 5)
23,000 = pension contribution (from UPS website).
7,350 = all that's left for health insurance. (from website: "Both full- and part-time* Teamster-represented employees are offered healthcare benefits with no premiums and very low or no co-insurance and co-pays.")
I always thought that counting vacation time and paid holidays into the mix to calculate your total compensation package was sort of "double billing."
If my salary is $100K per year, but I get 13 federal holidays plus 20 days of vacation, I'm still only seeing $100K per year. Not $100K per year, with pay from the 13 holidays and 20 vacation days added on top of that. But, by the company's accounting, my benefit would be roughly $112,692 (the $100K salary, and the 33 extra holiday/vacation days comes out to around $12,692).
Basically, holiday or vacation pay means that you didn't have to work that day, but you still got paid for it. It doesn't inflate your compensation, but rather reduces the amount of hours you have to work to get your salary. So it shouldn't mean that the value of it gets added on top of your salary, as part of your total compensation.
The only time vacation pay really gives you extra value, is if your company lets you cash it out, instead of using it. Or when you quit, and any remaining balance gets paid out to you.