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Eayion & M o n t g o m e r y Co.

P u b lic Library

N V 1 0 1S64
O

Employer Expenditures for Selected
Supplementary Remuneration Practices

DOCUMENT

FINANCE, INSURANCE, AND R E A L E ST A T E




IN D U STR IES,

1961

Bulletin N o . 1419

UNITED STATES DEPARTMENT OF LABOR
W. Willard Wirtz, Secretary
B U R E A U O F L A B O R STATISTICS
E w a n Clague, C o m m i s s i o n e r




E m p lo y e r E x p e n d it u re s fo r S e le c t e d
S u p p le m e n t a r y R e m u n e ra tio n P ra c tic e s

F IN A N C E , IN S U R A N C E , A N D R E A L E S T A T E
IN D U S T R IE S , 1961

Bulletin No. 1419
S e p t e m b e r 1964

UNITED STATES D E P A R T M E N T O F L A B O R
W . Willard Wirtz, Secretary
B U R E A U O F L A B O R STATISTICS
Ewan Clague, Commissioner
For sale by the Superintendent of Documents, U.S. Government Printing Office, Washington, D.C., 20402 - Price 45 cents










Preface

This bulletin is one in a series of publications
by the Bur e a u of Labor Statistics on the magnitude of e m ­
ployer expenditures for selected supplementary employee
remuneration practices.
T h e current B L S p r o g r a m p r o ­
vides for studies in manufacturing industries every 3 years
and in selected nonmanufacturing industries in the inter­
vening 2 years. In addition, special studies are m a d e at
irregular intervals. 1

In two significant respects, the present study e x ­
pands the scope of the B u r e a u ’s surveys. Unlike previous
studies, which related to nonsupervisory employees only,
the present report contains data for both supervisory and
nonsupervisory employees.
Furthermore, w hereas p r e ­
vious publications contained data solely for production and
related workers, this analysis covers employees in all
classes of work, except nonoffice salesmen, and the fi­
nance, insurance, and real estate industries are largely
staffed with employees performing office functions.

This study w a s conducted in the B u r e a u ’s Divi­
sion of National W a g e and Salary Income by N o r m a n J.
Samuels, Chief of the Division, under the general direc­
tion of L. R. Linsenmayer, Assistant C o m m i s s i o n e r for
W a g e s and Industrial Relations. T h e statistical and s a m ­
pling techniques w e r e developed by S a m u e l E. C o h e n and
Theodore J. Golonka.
The analysis w a s prepared by
Gerald D. Weintraub, under the immediate supervision of
Victor J. Sheifer.

1 For previously published bulletins, see Employer Expenditures for Selected
Supplementary Remuneration Practices for Production Workers in Manufacturing In­
dustries, 1959 (BLS Bulletin 1308, 1962); Employer Expenditures, for Selected Sup­
plementary Remuneration Practices for Production Workers in Mining Industries, 1960
(BLS Bulletin 1332, 1963); and Employer Expenditures for Selected Supplementary
Compensation Practices for Production and Related Workers; Meatpacking and Pro­
cessing Industries, 1962 (BLS Bulletin 1413, 1964).

ii
i




C on ten ts
Page
Chapter I
. S u m m a r y ___________________________________________________________
Expenditures for supervisory and n o n s u p e r v i s o r y e m p l o y e e s _______________
Interindustry variations ____________________________________________________
Establishment variations___________________________________________________
C o m p osition of payroll h o u r s _______________________________________________

1
1
3
3
3

Chapter II. P a i d l e a v e ________________________________________________________
Total l e a v e __________________________________________________________________
Paid vacations_______________________________________________________________
Paid holidays _______________________________________________________________
Paid sick l e a v e ______________________________________________________________
Other paid leave (military, jury, witness, voting, and p e r s onal)_________

6
6
8
9
9
10

Chapter III. P r e m i u m p a y ____________________________________________________
Total p r e m i u m p a y __________________________________________________________
P r e m i u m p a y for daily overtime, w e e k l y overtime, w e e k e n d , and
holiday w o r k _______________________________________________________________
Differentials for shift w o r k _________________________________________________

20
20

Chapter IV.

Christmas, yearend, a nd other irregular b o n u s e s _____________

27

Chapter V. Legally required insurance p a y m e n t s ___________________________
Total legally required p a y m e n t s ___________________________________________
Old-age, survivors, a nd disability insurance (social security)_____________
U n e m p l o y m e n t c o m p e n s a t i o n _______________________________________________
W o r k m e n ' s c o m p e n s a t i o n ___________________________________________________
O t her legally required i n s u r a n c e ___________________________________________

32
32
34
34
34
35

Chapter VI. Private welfare plans ___________________________________________
Total private welfare p l a n s _________________________________________________
Health, accident, and life i n s u r a n c e _______________________________________
Pe n s i o n and retirement p l a n s _______________________________________________
S e v e r a n c e or dismissal p a y ________________________________________________
Savings and thrift p l a n s _____________________________________________________
Stock p u r c h a s e plans _______________________________________________________

39
39
41
42
42
43
43

Chapter VII.

50

C o m p o s i t i o n of payroll h o u r s ___________________________________

22
22

Charts:
1.

2.
3.
4.

5.

6.

E m p l o y e r expenditures for selected s u p p l e m e n t a r y e m p l o y e e
r e m u n e r a t i o n practices in finance, insurance, and real estate
industries, b y e m p l o y e e group, 1 9 6 1 ________________________________
E m p l o y e r expenditures for paid leave items in finance, insurance,
and real estate industries, b y e m p l o y e e group, 1 9 6 1 _______________
E m p l o y e r expenditures for p r e m i u m p a y items in finance, in s u r ­
ance, and real estate industries, b y e m p l o y e e group, 1961 ________
E m p l o y e r expenditures for legally required insurance items in
finance, insurance, a nd real estate industries, b y e m p l o y e e
group, 1961 ___________________________________________________________
E m p l o y e r expenditures for selected private welfare plans in
finance, insurance, and real estate industries, all e m ­
ployees, 1 9 6 1 _________________________________________________________
Plant ho urs and paid leave hours as percents of total h o u r s paid
for in finance, insurance, a n d real estate industries, b y
e m p l o y e e group, 1 9 6 1 ________________________________________________




v

2
7
21

33

40

51

C o n t e n t s —

C o n t i n u e d

P ag e
Tables:
Summary—
1.

2.

E m p l o y e r expenditures for selected supplementary employee
remuneration practices in finance, insurance, and real
estate industries, by employee group, 1 9 6 1 _____________________
E m p l o y e r expenditures for selected supplementary employee
remuneration practices in finance, insurance, and real
estate industries, by employee and industry groups, 1 9 6 1 ______

4

5

Paid leave—
3.

Percent of employees in finance, insurance, and real estate
industry establishments with expenditures for paid leave, by
employee and industry groups, 1 961____________________________
4. E m p l o y e r expenditures for paid leave in finance, insurance, and
real estate industries, all establishments and establishments
with expenditures, by employee and industry groups, 1 9 6 1 _____
5. Distribution of employees in finance, insurance, and real estate
industries by leave expenditures as a percent of gross payroll,
by employee and industry groups, 1 961_________________________
6 . Distribution of employees in finance, insurance, and real estate
industries by vacation expenditures as a percent of gross
payroll, by employee and industry groups, 19 6 1________________
7. Distribution of employees in finance, insurance, and real estate
industries by holiday expenditures as a percent of gross
payroll, b y employee and industry groups, 19 6 1________________
8 . Distribution of employees in finance, insurance, and real estate
industries by leave expenditures in cents per hour paid for,
by employee and industry groups, 1 9 6 1_________________________
9. Distribution of employees in finance, insurance, and real estate
industries by vacation expenditures in cents per hour paid for,
by employee and industry groups, 1 9 6 1_________________________
10. Distribution of employees in finance, insurance, and real estate
industries by holiday expenditures in cents per hour paid for,
by employee and, industry groups, 1 9 6 1_________________________

11

12

14

15

16

17

18

19

P r e m i u m pay—
11.

12.

13.

14.

Percent of employees in finance, insurance, and real estate
industry establishments with expenditures for p r e m i u m pay,
by employee and industry groups, 1 961_________________________
E m p l o y e r expenditures for p r e m i u m pay in finance, insurance,
and real estate industries, all establishments and establish­
m e n t s with expenditures, by employee and industry groups,
1961_____________________________________________________________
Distribution of employees in finance, insurance, and real estate
industries by p r e m i u m pay expenditures in cents per hour paid
for, by employee and industry groups, 1961 ___________________
Distribution of employees in finance, insurance, and real estate
industries by overtime, weekend, and holiday w o r k p r e m i u m
expenditures in cents per hour paid for, by employee and
industry groups, 1961__________________________________________




vi

23

24

25

26

C o n t e n t s —

C o n t i n u e d

P ag e
Tables— Continued
Christmas, yearend, and other irregular bonuses—
15.

16.

17.

18.

Percent of employees in finance, insurance, and real estate
industry establishments with expenditures for Christmas,
yearend, and other irregular bonuses, by employee and
industry groups, 1961_______________________________________
E m p l o y e r expenditures for Christmas, yearend, and other
irregular bonuses in finance, insurance, and real estate
industries, all establishments and establishments with
expenditures, by employee and industry groups, 1 9 6 1 _______
Distribution of employees in finance, insurance, and real
estate industries by Christmas, yearend, and other ir­
regular bonus expenditures as a percent of gross payroll,
by employee and industry groups, 1 961______________________
Distribution of employees in finance, insurance, and real
estate industries by Christmas, yearend, and other ir­
regular bonus expenditures in cents per hour paid for,
by employee and industry groups, 1961______________________

29

29

30

31

Legally required insurance payments —
19.

20.

21.

E m p l o y e r expenditures for legally required insurance payments
in finance, insurance, and real estate industries, all estab­
lishments, by employee and industry groups, 1961 __________
Distribution of employees in finance, insurance, and real
estate industries by legally required insurance expendi­
tures as a percent of gross payroll, by employee and
industry groups, 1961________________________________________
Distribution of employees in finance, insurance, and real
estate industries by legally required insurance expendi­
tures in cents per hour paid for, by employee and industry
groups, 1961_____________ ___________________________________

36

37

38

Private welfare plans—
. Percent of all employees in finance, insurance, and real
estate industry establishments with expenditures for
private welfare plans, by industry group, 1961 ______________
23. E m p l o y e r expenditures for private welfare plans in finance,
insurance, and real estate industries, all employees,
all establishments and establishments with expendi­
tures, by industry group, 1961_______________________________
24. E m p l o y e r expenditures for health, accident, and life insurance
and pension and retirement plans in finance, insurance,
and real estate industry establishments with expenditures
for such plans, all employees, by contributory and n o n ­
contributory plans and industry group, 1961 _________________
25. Distribution of all employees in finance, insurance, and real
estate industries by private welfare plan expenditures as
a percent of gross payroll, by industry group, 19 6 1 __________
2 2




vii

44

45

46

46

C o n t e n t s —

C o n t i n u e d

P ag e
T ab 1e s— Continued
Private welfare plans— Continued
26.

27.

28.

29.

30.

Distribution of all employees in finance, insurance, and real
estate industries by health, accident, and life insurance
expenditures as a percent of gross payroll, by industry
group, 1961 ___________________________________________________
Distribution of all employees in finance, insurance, and real
estate industries by pension and retirement expenditures as
a percent of gross payroll, by industry group, 19 6 1___________
Distribution of all employees in finance, insurance, and real
estate industries by private welfare plan expenditures in
cents per hour paid for, by industry group, 1961______________
Distribution of all employees in finance, insurance, and real
estate industries by health, accident, and life insurance
expenditures in cents per hour paid for, by industry
group, 1961 ___________________________________________________
Distribution of all employees in finance, insurance, and real
estate industries by pension and retirement expenditures in
cents per hour paid for, by industry group, 1961______________

47

47

48

48

49

Composition of payroll hours—
31.

32.

33.

34.

35.

Plant hours and paid leave hours as percents of total hours
paid for in finance, insurance, and real estate industries
by employee and industry groups, 19 6 1_______________________
Distribution of employees in finance, insurance, and real
estate industries by paid leave hours as a percent of total
hours paid for, by employee and industry groups, 1961 _______
Distribution of employee's in finance, insurance, and real
estate industries by paid vacation hours as a percent of total
hours paid for, by employee and industry groups, 1961 _______
Distribution of employees in finance, insurance, and real
estate industries by paid holiday hours, as a percent of total
hours paid for, by employee and industry groups, 1961 _______
Distribution of employees in finance, insurance, and real
estate industries by n u m b e r of paid holidays, by employee
and industry groups, 1961 ____________________________________

53

54

55

56

57

Appendixes:
A.
B.

Survey methods and definitions ____________________________________
Questionnaire_ -__________________________________________________
_




vi
il

58
65

Employer Expenditures for Selected Supplementary
Remuneration Practices

Finance, Insurance, a n d

Real

Estate Industries, 1 9 6 1

Chapter I Summary
.
In 1961, employees in the Nation*s finance, insurance, and real estate
industries received a sizable portion of their pay in the f o r m of supplements to
basic wages and salaries. Excluding data for nonoffice salesmen, 1 pay for leave
time accounted for 7. 8 percent of the gross payroll in these industries; p r e m i u m
pay for overtime, weekend, holiday, and late-shift w o r k accounted for 0. 7 p e r ­
cent; and Christmas, yearend, and other irregular bonuses for 3. 5 percent. In
addition, employers m a d e payments in an a m o u n t equal to 3. 6 percent of gross
payroll for legally required insurance programs, and an additional 6. 9 percent
for selected types of private welfare plans.
E x p r essed in ter m s of cents per
hour paid for, the employer expenditures w e r e 20. 3 cents for paid leave; 1. 8 cents
for p r e m i u m pay; 9. 0 cents for Christmas, yearend, and other irregular bonuses;
9.4 cents for legally required insurance; and 17.9 cents for the selected private
welfare plans. 2 (See chart 1 and table 1.)
Expenditures for Supervisory and Nonsupervisory E m p l o y e e s
E m p l o y e r expenditures for supervisory and nonsupervisory employees
varied in the different categories of supplementary compensation items. In terms
of percent of gross payroll, paid leave expenditures w e r e slightly higher for
supervisors— 8. 0 percent c o m p a r e d with 7. 7 percent for nonsupervisory e m ­
ployees.
However, in cents per hour paid for, leave expenditures w e r e c o n ­
siderably higher for supervisory (40. 4 cents) than for nonsupervisory employees
(15.7).
The greater difference in cents per hour reflects the higher hourly earn­
ings of the supervisory 'employees.
Christmas, yearend, and other irregular bonuses, expressed both as a
percent of gross payroll and as cents per hour paid for, w e r e higher for super­
visors (5. 4 percent and 27.0 cents) than for nonsupervisory employees (2.6 p e r ­
cent and 5.3 cents).
Conversely, the p r e m i u m pay expenditures of 1.0 percent
and 2. 1 cents for nonsupervisory employees
w e r e m a r k e d l y higher than the
0. 1 percent and 0. 4 cent for supervisors. This results mainly f r o m the greater
frequency of p r e m i u m pay practices for nonsupervisory employees.
F o r both
employee groups, p r e m i u m pay expenditures w e r e relatively small.
Expenditures for legally required insurance programs, as a percent of
gross payroll, w e r e higher for nonsupervisory employees (4. 4 percent) than for
supervisors (2. 2 percent). Since legally required insurance p r o g r a m s c o m m o n l y
have a m a x i m u m possible contribution per employee, expenditures as a percent
of payroll would be expected to be less for the higher paid employee group.
In
cents per hour paid for, however, the 11.0-cent expenditure for supervisors w a s
2 . 0 cents higher than that for nonsupervisory employees.
1 Figures for nonoffice salesmen are excluded from the data in this bulletin.
2 Figures in this summary relate expenditures to payrolls and hours o f all establishments, whether or not they had
expenditures for the pay supplements. The chapters which follow contain measures showing the relations between ex­
penditures for supplements and payrolls and hours o f only those establishments which had expenditures for the supple­
ments.
The distinction between the two types of measures is considered in appendix A.

745-996 0-64-2




1

2

Chart 1
.

Employer Expenditures for Selected Supplementary Employee

Remuneration Practices i Finance, Insurance, and Real Estate Industries,
n
by Employee Group, 1961
P e r c e n t

10

o f

8

g r o s s

6

4

p a y r o ll

2

C e n t s

0

0

I--------------1
--------------1
-------------1
------------- 1
------------- 1

P A

I D

L E A V E

P R E M

B

3.5

O

A ll

I U

N

M

U

p e r

10

h o u r

20

30

P A Y

S E S

-!/

E m p lo y e e s

2 7.0

N o n s u p e r v is o r y
2 .6

L E G

e m p lo y e e s

A L L Y

R E Q

U

I R E D

P R I V A T E

6.9

A ll

-1 /

C h r is t m

£ /

R e p o r t e d

a s ,

n o n s u p e r v is o r y

N

O

T E :

W

e m

D a t a




y e a r e n d .
d a t a

d o

a n d

n o t

o t h e r

p e r m it

I N

S U

R

E L F A R E

ir r e g u la r

p lo y e e s .

e x c lu d e

n o n o f f ic e

A

N

C

E

P L A

N

P A

S

Y

M

s a le s m

e n .

E N

T

S

! /

1 7 . 9

e m p lo y e e s

p u b lic a t io n

f o r

40

50

i------------------- 1
---------------------1
--------------------1
--------------------1
---------------------1

Supervisory employees

5.4

p a id

b o n u s e s .
o f

f ig u r e s

f o r

s u p e r v is o r y

a n d

3

Interindustry Variations
Substantial variations in expenditures existed a m o n g the m a j o r industry
groups studied individually. This w a s true for each of the categories of supple­
m e n t a r y remuneration items.
Such variations reflect the diversity of conditions
a m o n g the industries examined. F o r example, although m a n y of these industries
are staffed largely by persons in office-type jobs, a substantial share of the
e m p l o y m e n t in real estate consists of blue-collar workers.
In percent of gross
payroll, paid leave expenditures ranged f r o m a high of 9. 1 percent in insurance
carriers to a low of 5. 8 percent in real estate.
Expenditures for p r e m i u m pay,
which w e r e relatively small in each of the m a j o r industry groups, w e r e highest
in security and c o m m o d i t y brokers, dealers, exchanges, and services (1. 1 p e r ­
cent) and lowest in insurance agents, brokers, and service (0. 3 percent).
The
greatest disparity w a s found between the 9. 1 percent paid for Christmas, yearend, and other irregular bonuses by security and c o m m o d i t y brokers, dealers,
exchanges, and services and the 1.2 percent by insurance carriers.
Except for
the marke d l y higher figure in real estate (4. 8 percent), expenditures for legally
required insurance payments ranged between 3. 6 and 2. 7 percent.
Expenditures
for private welfare plans ranged f r o m 9. 3 percent in banking to 4.1 percent in
real estate.
(See table 2. )
Expressed on a cents-per-hour-paid-for basis, expenditures were, with
one exception (legally required insurance payments), highest in security and c o m ­
modity brokers, dealers, exchanges, and services.
This reflects the relatively
high earnings level in this m a j o r industry group.
Expenditures for legally re­
quired insurance payments w e r e highest in real estate.

Establishment Variations
In addition to industry variations and differences in expenditures for
supervisory and nonsupervisory employees, substantial expenditure differences
existed a m o n g establishments within a given industry. F o r example, in banking,
s o m e establishments had no expenditures for the private welfare plans studied,
whereas 1 out of 8 employees w e r e in banks w h e r e expenditures for such plans
a mounted to 16 percent or m o r e of gross payroll.
(See table 25.)

Composition of Payroll Hours
In 1961, for all employees covered by the survey, paid leave hours c o n ­
stituted 8. 0 percent of the total n u m b e r of hours paid for.
This included 3. 7 p e r ­
cent for vacations, 2.9 percent for holidays, 1.2 percent for sick leave, and
0. 2 percent for military, jury, witness, voting, and personal leave. (See table 31. )
A m o n g the m a j o r industry groups studied individually, paid leave hours
varied f r o m 9.1 percent of total hours paid,for in insurance carriers, and 8.9 p e r ­
cent in banking, to 5. 6 percent in real estate.
In each of the m a j o r industry
groups, vacation hours w e r e the m a i n f o r m of paid leave hours.
F o r supervisory employees in all industries combined, paid leave hours
accounted for 8. 2 percent of total hours paid for, w h ereas for nonsupervisory
employees the figure w a s 7. 9 percent.
Vacation hours as a percent of total
hours paid for w e r e greater for supervisory than for nonsupervisory employees.
Conversely, sick leave hours w e r e a greater percent of total hours paid for in
the case of nonsupervisory employees. Little difference w a s found between super­
visory and nonsupervisory employees with respect to holiday and miscellaneous
leave hours as percents of total hours paid for.




Table 1 Employer Expenditures for Selected Supplementary Employee Remuneration Practices in Finance, Insurance,
.
and Real Estate Industries, by Employee Group, 1 1961
A l l e m p lo y e e s
P r a c t ic e

P e rce n t of
gro ss
p a y r o ll

P a i d l e a v e -----------------------------------------------V a c a t i o n s --------------------------------------------

P e rce n t of
s tr a ig h t t im e
p a y r o ll

7. 8

7 .9
3. 8
2. 8

3. 8
2. 7
1. 1

S u p e r v is o r y

C e n ts p e r
h o u r p a id
fo r

C e n ts p e r

P e rce n t of

p la n t m a n ­
hour

gro ss
p a y r o ll

20. 3

22. 1
10. 7

8. 0
4. 4
2. 7

P e rce n t of
s tr a ig h t -

e m p lo y e e s
C e n ts p e r
h o u r p a id

N o n s u p e r v is o r y e m p lo y e e s
C e n ts p e r

P e rce n t of

fo r

p la n t m a n ­
hour

gro ss
p a y r o ll

8. 1

40. 4

44. 0

4 .4
2. 7

23. 8
14. 6
4. 7

t im e
p a y r o ll

P e rc e n t of
s tr a ig h t t im e
p a y r o ll

7. 7
3. 5
2. 8

7. 8
3 .5
2. 8

C e n ts p e r
h o u r p a id
fo r

C e n ts p e r
p la n t m a n ­
hour

15. 7

17. 0
7. 7
6. 1

1. 1

9. 9
7. 1
2. 9

.9

.9

2 1 .9
13. 4
4. 3

1. 2

1 .3

7. 1
5. 6
2. 5

---------------------

. 2

. 2

. 5

. 5

. 2

. 2

. 8

.8

. 2

. 2

. 4

.4

P r e m i u m p a y -----------------------------------------D a i ly o v e r tim e , w e e k ly o v e r ­

. 7

. 7

1 .8

1 .9

. 1

. 1

.4

. 5

1. 0

1 .0

2. 1

2. 2

. 7

H o l i d a y s ----------------------------------------------S i c k l e a v e -------------------------------------------M ilit a r y , ju ry ,

7. 7
3. 1

2 .8

w it n e s s , v o t in g ,

a n d p e r s o n a l le a v e

t im e , a n d w e e k e n d a n d h o lid a y w o r k p r e m i u m s --------------------

(2 )

1 .7
. 1

. 7

3. 5

3. 5

9 .0

3. 6

3. 6

2. 2

2. 3

1. 1
. 2

. 1

1 .8

(2 )

. 4

.4

1 .0

1 .0

(2 )

(2 )

(2 )

(2 )

(2 )

2. 0
. 1

2. 2

(2 )

9 .8

5. 4

5 .4

27. 0

2 9 .5

2. 6

2. 6

5. 3

5. 8

9 .4

10. 2

2. 2

2. 2

1 1 .0

12. 0

4. 4

4. 5

9. 0

9. 7

5. 8

6. 3

1 .4

1 .4

7. 2

7. 8

2. 7

2. 7

5. 4

5. 9

1. 1
. 3

2. 8

. 6
. 1

. 6
. 1

2. 9
. 7

3. 2

1 .4

1 .4

. 6

3. 0
. 7

. 8

. 3

. 3

2. 8
. 6

3. 0
. 7

. 1

. 1

. 1

. 2

(2 )

(2 )

. 1

. 2

. 1

. 1

w e l f a r e p l a n s 3 ----------------------H e a lth , a c c id e n t , a n d lif e
i n s u r a n c e ---------------------------------------P e n s io n an d r e t ir e m e n t

6. 9

7. 0

17. 9

19. 5

(4 )

(4 )

1 .9

1 .9

4. 9

5. 3

(4 )

p l a n s -------------------------------------------------Se ve ra n c e o r d is m is s a l

4. 5

4. 6

11. 7

12. 7

(4 )

. 1

. 1

. 2
. 5
. 2

n
n
n

(4)
(4 )
(4 )

(4)

. 2
. 1

. 2
.4
. 1

(4 )

. 2
. 1

(4 )
(4 )

(4 )

(4 )
(4 )

(4)

(4 )

S h i f t d i f f e r e n t i a l s ---------------------------C h r is tm a s ,

ye are n d ,

. 1

. 1

and o th e r

i r r e g u l a r b o n u s e s ----------------------------L e g a lly

. 1

r e q u ir e d in s u r a n c e

p a y m e n t s -----------------------------------------------O ld -a g e , s u r v iv o r s , an d
d i s a b i l i t y i n s u r a n c e -------------------U n e m p lo y m e n t c o m p e n s a t i o n -----------------------------------------------W o r k m e n ' s c o m p e n s a t i o n ---------O th e r,

in c lu d in g t e m p o r a r y

d i s a b i l i t y i n s u r a n c e -------------------P r iv a te

p a y ------------------------------------------------------S a v in g s

a n d t h r i f t p l a n s ---------------

S to c k p u r c h a s e p la n s

1

E x c lu d e s

2

Less

th a n

--------------------

n o n o ff ic e
0 .0 5

B ecau se

of




. 2
(4 )

(4 )

(4 )

(4 )

(4 )

(4 )

(4 )

(4 )

(4 )

(4 )

(4 )

(4 )

(4 )

(4 )

(4)

(4 )

(4 )

(4 )

(4 )

(4)

(4 )

(4 )

(4)
(4 )

(4 )
(4 )

(4 )
(4 )

s a le s m e n .

p e rcen t

or

0 .0 5

c e n t.

3 In c lu d e s e x p e n d it u r e s f o r v a c a t io n a n d h o lid a y fu n d s , w h ic h w e r e
t if ie d in s o m e r e p o r t s , w h ic h a r e n o t in c lu d e d h e r e in th e c o m p o n e n ts .
4 D a t a r e p o r t e d d o n o t p e r m it p u b lic a t io n o f s e p a r a t e fig u r e s .
N O T E ;

. 1

(4 )

ro u n d in g ,

su m s

of

in d iv id u a l

ite m s

m ay

not

not re p o rte d

equal

to ta ls .

w it h

s u ffic ie n t fr e q u e n c y

to

w a rra n t se p a ra te

p r e s e n t a t io n ;

and

e x p e n d itu r e s

f o r b e n e fit s

n o t fu lly id e n ­

Table 2 Employer Expenditures for Selected Supplementary Employee Remuneration Practices in Finance, Insurance,
.
and Real Estate Industries, by Employee and Industry Groups,1 1961
P e r c e n t o f g r o s s p a y r o ll

E m p lo y e e

a n d in d u s t r y

P re ­
m iu m
le a v e
pay
P a id

group

C h r is t ­
m as,

L e g a lly
re q u ir e d

y e are n d ,
and o th e r
ir r e g u la r
b o n u se s

in s u r ­
ance
pay­
m e n ts

P e r c e n t o f s t r a ig h t - t im e p a y r o ll

P r iv a te
w e lfa r e
p la n s

P a id
le a v e

P re ­
m iu m
pay

C h r is t ­
m as,
ye are n d ,

L e g a lly
re q u ir e d

and o th e r
ir r e g u la r
b o n u se s

ance
pay­
m e n ts

in s u r ­

C e n t s p e r h o u r p a id f o r

P r iv a te
w e lfa r e
p la n s

P a id
le a v e

P re ­
m iu m
pay

C h r is t ­
m as,
ye are n d ,
an d o th e r

L e g a lly
r e q u ir e d
in s u r ­

ir r e g u la r
b o n u se s

pay­
m e n ts

ance

C e n ts p e r p la n t m a n - h o u r
C h r is t ­
P r iv a te
w e lfa r e
p la n s

P a id
le a v e

P re ­
m iu m
pay

m as,
y e a re n d ,
an d o th e r
ir r e g u la r
b o n u se s

L e g a lly
r e q u ir e d
in s u r ­
ance
pay­
m e n ts

P r iv a te
w e lfa r e
p la n s

A l l e m p lo y e e s
A ll in d u s t r ie s 1
2

7. 8

0 .7

3. 5

3. 6

6 .9

7. 9

0. 7

3. 5

3 .6

7. 0

20. 3

1. 8

9. 0

9 .4

17. 9

22. 1

1 .9

9 .8

1 0. 2

1 9 .5

B a n k i n g 2 _______________________

8. 7

0. 8

4 .8

3. 6

9. 3

8. 7

0 .8

4 .8

3. 6

9 .4

20. 7

1 .9

1 1 .4

8. 6

22. 3

22. 7

2. 1

12. 5

9. 5

24. 4

C o m m e r c ia l and sto c k
s a v i n g s b a n k s ___________

8. 6

. 8

4. 8

3. 6

9. 2

8. 7

. 8

4. 9

3. 6

9. 3

2 0 .4

1 .9

11. 5

8. 5

2 1 .8

22. 3

2. 1

12. 6

C r e d it a g e n c ie s o th e r th a n
b a n k s __________________________

9. 4

23. 9

7. 1

.6

3. 7

3. 4

6 .4

7. 2

.6

3. 7

3 .4

6. 5

18. 6

1. 6

9 .5

8 .8

16. 7

20. 0

10. 2

S e c u r it y a n d c o m m o d ity
b r o k e r s , d e a le r s , e x c h a n g e s , a n d s e r v i c e s ___

1. 7

9. 5

18. 0

6. 0

1. 1
. 6

9. 1
1. 2

2. 7

5. 5

6. 1

1. 3

5. 5
8. 0

24. 9
23. 3

4 .4
1 .4

3 7 .5
3. 2

11. 1
8. 8

22. 5
2 0 .4

26. 9
25. 6

40. 5

9. 1

2. 7
3 .4

4. 8

8. 0

1. 1
.6

9 .2

3. 4

1. 6

3. 5

1 1. 9
9. 6

24. 4
22. 5

. 3

3. 7

4 .4
4. 1

. 3
.9

3. 3
4. 8

4 .4
4. 1

21. 9
13. 7

. 7
2. 1

10. 3
7. 0

9. 3
11. 2

9. 5

23. 7
14. 5

. 8
2. 2

11. 2
7 .4

10. 1

5 .9

3 .7
3. 0

12. 3

3. 0

3. 3
4. 8

7. 8

.9

13. 3
10. 1

In s u r a n c e
In s u r a n c e

c a r r i e r s __________
age n ts, b ro k e rs,

9. 1

a n d s e r v i c e __________________
R e a l e s t a t e ____________________

7. 7
5 .8

S u p e r v is o r y

11. 8

e m p lo y e e s

A l l i n d u s t r i e s 2 ________

8. 0

. 1

5 .4

2. 2

. 1

5 .4

2. 2

(3 )

4 0 .4

.4

27. 0

11. 0

(3 )

44. 0

. 5

2 9 .5

12. 0

(3)

B a n k i n g 2 _______________________

9 .4

0. 1

5. 8

2. 1

(3 )

9 .4

0. 1

5. 9

2. 1

(3)

46. 3

0. 3

28. 9

10. 6

0. 3

C o m m e r c ia l an d sto c k
s a v i n g s b a n k s ___________
C r e d it a g e n c ie s o th e r th a n

(3 )

51. 2

3 1 .9

1 1 .7

(3 )

9. 3

. 1

6. 0

2. 1

(3 )

9. 3

. 1

6. 0

2. 1

(3 )

4 5 .4

. 3

29. 1

1 0 .4

(3 )

50. 1

. 3

32. 1

1 1. 5

(3 )

b a n k s __________________________

7. 3

. 1

5 .4

2. 2

(3 )

7. 3

. 1

5 .4

2. 2

(3 )

33. 5

.4

24. 6

10. 2

(3 )

36. 2

.4

26. 6

11. 0

(3 )

6. 6

. 1

13. 0

13. 0
1. 6

(3 )
(3 )

52. 3
45. 2

1. 2
. 5

103. 8
7. 6

11. 8
10. 8

1. 2
.6

1 1 2 .4
8 .4

12. 7

. 1

(3 )

9. 2

1. 5
2. 2

56. 7

1. 6

(? )
(3 )

. 1

. 1

1. 5
2. 2

6. 6

9. 2

(3 )

11. 9

(3 )

7 .7
6. 0

(4 )
. 1

1. 9
2. 6

(3 )
(3 )

7. 7
6. 0

(4 )
. 1

(3 )
(3 )

. 1

13. 2

3 1 .8

. 2
.8

33. 1
38. 5

1 1. 2
14. 0

(3 )

. 7

(3 )
M

44. 6

2 9 .9

30. 5
36. 2

10. 3

7. 2

1. 9
2 .6

41. 1

7. 2

S e c u r it y

8. 1

______

a n d c o m m o d ity

b ro ke rs,
ch an ges,

d e a le r s , e x ­
a n d s e r v i c e s ___

I n s u r a n c e c a r r i e r s __________
In s u r a n c e a g e n t s , b r o k e r s ,
a n d s e r v i c e __________________
R e a l e s t a t e __________________
N o n s u p e r v is o r y

5. 7

5. 7

49. 9

M

e m p lo y e e s

A l l i n d u s t r i e s 2________

7. 7

1. 0

2. 6

4. 4

7. 8

1. 0

2. 6

4. 5

(3 )

1 5 .7

2 .1

5. 3

9. 0

(3 )

17. 0

2. 2

5 .8

9. 7

(3 )

B a n k i n g 2 _______________________

8. 3

1. 2

4. 1

4. 4

(3 )

8 .4

1. 2

4. 1

4. 5

1 5 .4

2. 3

7. 6

8. 2

(3 )

16. 9

2. 5

8. 3

C o m m e r c ia l an d sto c k
s a v i n g s b a n k s ___________

(3 )

9. 0

(3 )

8. 3

1. 2

4. 1

4 .4

(3 )

8 .4

1. 3

4. 2

4. 5

15. 2

2. 3

7. 6

8. 1

(3 )

1 6 .6

2. 5

C r e d it a g e n c ie s o th e r th a n
b a n k s __________________________

(3 )

8. 3

8. 9

(3 )

7. 0

1. 0

2. 3

4. 3

(3 )

7. 1

1 .0

2 .4

4. 3

(3 )

1 3 .7

2. 0

4 .6

8 .4

(3 )

14. 7

2. 1

4. 9

9. 0

(3 )

d e a le r s , e x ­
a n d s e r v i c e s ___

5. 8

1 .4

7. 6
1. 1

7. 7
1. 1

3. 2
4. 2

(3 )
(3 )

20. 1
18. 0

5. 0
1 .6

26. 1
2. 2

10. 9
8. 3

(3 )
b

19. 8

1. 8

28. 2
2. 4

(3 )

(3 )

1. 5
. 8

1 1 .8

. 8

5 .9
9. 1

5 .4

9. 0

3. 2
4. 1

21. 7

c a r r i e r s __________

7. 8
5. 7

.4

2. 2

4. 3

.4

2. 2

4. 3

(3)

1. 2

1. 3

5 .7

M

1 1 .8

1. 0
2 .4

5. 0

(3 )

9. 0
10. 9

17. 8

5. 6

.9
2. 3

4. 6

1. 3

(3 )
(3 )

16. 4

1. 2

7. 8
5. 8

9. 7
1 1. 5

S e c u r it y a n d
b ro ke rs,
ch an ges,
In s u r a n c e

c o m m o d ity

In s u r a n c e a g e n ts, b r o k e r s ,
a n d s e r v i c e __________________
R e a l e s t a t e ____________________

1

______( f l _

E x c lu d e s

n o n o ffic e

1 1 .2

2. 5

2. 7

9. 1

M
(3 )
H

s a le s m e n .

2

In c lu d e s

3
4

D a t a r e p o r t e d d o n o t p e r m it p u b lic a t io n o f s e p a r a t e f ig u r e s .
L e s s th a n 0. 05 p e r c e n t.

i n d u s t r ie s n o t s h o w n s e p a r a t e ly .




Cn

Chapter I . Paid Leave
I

Total Leave
A l m o s t all of the employees in the Nation*s finance, insurance, and real
estate industries w e r e in establishments which paid for s o m e type of leave during
1961. Paid vacations and holidays w er e the principal items; establishments e m ­
ploying nearly all workers in these industries had expenditures for them.
Fourfifths of the workers w e r e in establishments with payments for sick leave and
m o r e than half in establishments with expenditures for military, jury, witness,
voting, and personal leave.
(See table 3. )
Expenditures for all forms of paid leave, mainly vacation and holiday
pay, amounted to 7. 8 percent of the gross payroll of all establishments in the
industries studied.
Vacation pay amounted to 3.8 percent of the gross payroll
and holiday pay to 2. 7 percent.
Sick pay accounted for 1. 1 percent and other
paid leave for 0. 2 percent.
Since payments for leave w e r e quite c o m m o n in the
establishments surveyed, expenditures expressed as a percent of the payrolls of
establishments with such payments frequently w e r e similar to the percentages
based upon the payrolls of all establishments, particularly for paid vacations
and holidays.
(See chart 2 and table 4.)
Total paid leave expenditures a mounted to 8. 0 percent of gross payroll
for supervisors and 7. 7 percent for nonsupervisory employees.
In the m a j o r
industry groups studied, the largest differences between the two employee groups
w e r e in banking— 9.4 percent for supervisors and 8. 3 percent for nonsupervisory
workers— and in the security and c o m m o d i t y brokers, dealers, exchanges, and
services group— 6. 6 and 5. 8 percent, respectively.
A m o n g the industry groups for which separate data are presented, total
paid leave expenditures for all employees covered in the survey ranged f r o m a
high of 9. 1 percent of gross payroll in insurance carriers to lows of 5. 8 p e r ­
cent in real estate and 6. 0 percent in security and c o m m o d i t y brokers, dealers,
exchanges, and services.
These figures varied only slightly f r o m those for e s ­
tablishments with expenditures.
W h e n total pay for leave was divided by total hours paid for by all e s ­
tablishments, the expenditures amounted to 20. 3 cents per hour, consisting of
9. 9 cents for vacations, 7. 1 cents for holidays, 2. 9 cents for sick leave, and
0. 5 cent for other paid leave. 3 For only those establishments having expendi­
tures for the various practices, the averages w e r e 20.5 cents for all leave,
10.0 cents for vacations, 7.3 for holidays, 3.5 for sick leave, and 0.8 cent an
hour for other paid leave.
Largely because of differences in salary levels, there w e r e striking
differences in cents-per-hour-paid-for expenditures between supervisory and
nonsupervisory employees.
F o r all establishments, total paid leave averaged
40. 4 cents for supervisory and 15. 7 cents for nonsupervisory employees.
The security and c o m m o d i t y brokers, dealers, exchanges, and services
group had higher cents-per-hour expenditures for total paid leave than any other
m a j o r industry group studied separately— 24. 9 cents for all employees, 52. 3 cents
3 Because o f rounding, sums o f individual items may not equal totals.




6

7

Chart 2. Employer Expenditures for Paid Leave Items in Finance, Insurance,
and Real Estate Industries, by Employee Group, 1961

Cents per hour paid for

Percent of gross payroll
5

4

3

2

1 0

0

VACATIONS

5

10

15

20

25

i ------ 1 ------ 1 ------ 1 ------ r
-

"1

All emp loyees
Supervisory em p lo ye es

2 1.9

Nonsupervisory
employees

HOLIDAYS
2 .7

All em p lo ye es

2.7

Supervisory emp loyees
Nonsupervisory

2 .8

employees

SICK LEAVE

OTHER ^
0 .2

0 .2

0. 5

All employees
Supervisory employees
No nsu pe rv iso ry

0 . 2

employees

f

0 .8

0.4

1 / Other includes military, jury, witness, voting, and personal leave.
NOTE:

Data exclu de non offic e s a le sm e n .




8

for supervisors, and 20. 1 cents for nonsupervisory workers; the real estate
group had the lowest average of expenditures— 13.7 cents, 29.9 cents, and
1 1 .2
cents, respectively.
Presentation of paid leave expenditures in terms of data for all estab­
lishments combined fails to show the variations in practices a m o n g individual
establishments.
Establishment expenditures for total paid leave in the finance,
insurance, and real estate industries ranged f r o m less than 1 percent to 14 p e r ­
cent of gross payroll and over.
A l m o s t three-fifths of the workers w e r e in e s ­
tablishments in which total expenditures for paid leave w e r e between 6 and
10 percent of gross payroll.
Nearly three-fourths of the employees in banking
w e r e in establishments in which such expenditures also ranged between 6 and
10 percent, while about 85 percent of those in credit agencies other than banks
w o r k e d in establishments with expenditures f r o m 4 to 9 percent.
Two-fifths of
the employees in insurance carriers w e r e in establishments spending 8 to 10 p e r ­
cent of gross payroll for paid leave, and twice that fraction in insurance agents,
brokers, and service w e r e in establishments with expenditures between 4 and
10 percent.
(See table 5. )
For purposes of this study, paid leave expenditures included only those
payments m a d e by the c o m p a n y directly to the employees; employer p a yments to
vacation and holiday funds, which in these industries are negligible, w e r e in­
cluded under private welfare plans. Similarly, c o m p a n y payments to insurance
carriers or special funds, which pay health and sickness benefits to workers,
w e r e classified as payments to private welfare plans, rather than as sick leave.
In the few States w h e r e t e mporary disability insurance is required by law, c o m ­
pany payments m a d e directly to the w o r k e r under self-insurance provisions of the
law w e r e considered legally required payment's rather than sick leave.

Paid Vacations
Approximately 98 percent of all employees in the finance, insurance, and
real estate industries w e r e in establishments with expenditures for paid vacations.
The corresponding figure for nonsupervisory workers w a s nearly the same; h o w ­
ever, 7 percent of the supervisors w e r e in establishments which had no vacation
expenditures for such employees.
Particularly noticeable is the relatively low
figure in real estate, w h e r e only 74 percent of the supervisors w e r e in estab­
lishments which had vacation expenditures for supervisors in 1961.
In each of
the m a j o r industry groups studied, over 90 percent of all employees w e r e in
establishments with vacation expenditures.
Vacation payments amounted to 3.8 percent of the gross payroll for all
employees during 1961.
The spread between the figures for supervisory and n o n ­
supervisory workers w a s greater for vacations than for any of the other paid leave
items, 4.4 percent of the gross payroll for the f o r m e r and 3.5 percent for the
latter group.
F o r all employees, insurance carriers had the highest expendi­
tures found (4. 2 percent of gross pay); security and c o m m o d i t y brokers, dealers,
exchanges, and services had the lowest (2.9 percent).
In cents per hour paid for, expenditures in all establishments amounted
to 9.9 cents, and in establishments with expenditures, to 10.0 cents.
The dif­
ference in expenditures between supervisory and nonsupervisory employees w a s
m o r e pronounced in cents per hour paid for than in percent of gross payroll,
averaging 21.9 cents per hour for supervisors and 7. 1 cents for nonsupervisory
employees.
Limited to those establishments which had expenditures, the figures
w e r e 23. 3 cents for the supervisors and 7. 2 cents for the nonsupervisory group.




9

F or all employees, expenditures ranged f r o m an average of 12. 0 cents per hour
in all establishments in security and c o m m o d i t y brokers, dealers, exchanges,
and services to 7. 3 cents in all establishments in real estate.
Paid Holidays
Percentages of employees in establishments which had expenditures for
paid holidays w e r e similar to those for paid vacations, exceeding 90 percent in
all industries with the exception of real estate.
Holiday pay expenditures amounted to 2. 7 percent of gross pay in all
establishments and 2. 8 percent in establishments with expenditures for the p r a c ­
tice. P a y m e n t s for employee groups w e r e almost equal— 2. 7 percent of the all­
establishment gross pay for supervisors and 2. 8 percent for nonsupervisory e m ­
ployees.
Holiday pay expenditures for all employees ranged f r o m 3. 1 percent
of gross payroll in insurance carriers and 3. 0 percent in banking to 2. 2 p e r ­
cent in both real estate and security and c o m m o d i t y brokers, dealers, exchanges,
and services.
Holiday expenditures amounted to 7. 1 cents per hour paid for in all e s ­
tablishments and 7. 3 cents in those with holiday expenditures.
Expenditures for
supervisors w e r e 13.4 cents per hour paid for in all establishments and for n o n ­
supervisory workers, 5.6 cents.
The maj o r differences between averages for
all establishments and those with expenditures for paid holidays w e r e found in
the real estate group and for supervisors in security and c o m m o d i t y brokers,
dealers, exchanges, and services w h e r e less than 90 percent of the workers w e r e
in establishments with holiday expenditures. These w e r e the only industry groups
in which the average expenditure differed by m o r e than 1 cent f r o m the all­
industry average: Real estate (5.1 cents) and security and c o m m o d i t y brokers,
dealers, exchanges, and services (9. 1 cents).
Paid Sick Leave
About four-fifths of the employees in the finance, insurance, and real
estate industries w e r e in establishments which m a d e payments for sick leave.
T he figure for nonsupervisory employees w a s about the s a m e as that for all e m ­
ployees, but only about 60 percent of the supervisors w e r e in establishments
which had sick leave expenditures for this employee group.
A m o n g the m a j o r
industry groups studied, the highest proportions of employees (over 90 percent)
w e r e in banking and in insurance carriers; the lowest proportion w a s in real
estate, with just over 50 percent of the employees in establishments with sick
leave expenditures.
Sick leave payments accounted for 1 1 percent of gross payroll for e m ­
.
ployees in all establishments and 1. 3 percent in establishments which had sick
leave expenditures in 1961.
The corresponding figures by employee groups w e r e
0. 9 percent and 1 3 percent for supervisors and 1. 2 percent and 1 5 percent for
.
.
nonsupervisory employees.
Variation a m o n g m a j o r industry groups w a s c o n ­
siderable, ranging f r o m 1.5 percent in insurance carriers and 1.4 percent in
banking to 0. 5 percent in real estate.
Greater divergence is evident w h e n sick leave expenditures are presented
on a cents-per-hour-paid-for basis.
The average w a s 2.9 cents for all establish­
m ents and 3. 5 cents for those which had sick leave expenditures.
The averages
for supervisors w e r e 4. 3 cents and 6. 9 cents, respectively, and for nonsu p e r ­
visory employees, 2. 5 and 3. 1 cents.
B y industry studied, all-establishment
averages ranged f r o m 3. 9 cents in insurance carriers to 1.2 cents in real estate.
7 4 5 -9 9 6

0 - 6 4 - 3




1
0

Other Paid L e a v e (Military, Jury, Witness, Voting, and P e r s o n a l )

A b o u t 56 percent of the e m p l o y e e s w o r k e d in establishments w h i c h h a d
expenditures for one or m o r e of the miscellaneous f o r m s of paid leave in-1961.
A s with the other types of paid leave, the percentage for the n o n s u p e r v i s o r y
g r oup w a s a l m o s t the s a m e as that for all e m p l o y e e s , but fewer than 40 percent
of the supervisors w e r e in establishments w h i c h h a d other paid leave expenditures
for supervisory e m p l o y e e s .
In e a c h of the m a j o r industry groups studied, the
percentage w a s l ower for the supervisors.
B y industry group studied, p r o p o r ­
tions of w o r k e r s in establishments with miscellaneous leave expenditures r a n g e d
f r o m four-fifths in insurance carriers to about one-fifth in real estate.

Expenditures for other paid leave a m o u n t e d to 0. 2 percent of the gross
payroll in all establishments, and 0. 3 percent in those with expenditures for this
item.
Expenditures for the supervisory and n o n s u p e r v i s o r y groups w e r e equal
to the all-employee figures.
O n an all-establishment basis, the highest figure
for any m a j o r industry group e x a m i n e d w a s 0. 3 percent in insurance carriers
and the lowest w a s less than 0. 05 percent in real estate.

W h e n e x p r e s s e d in cents per hour paid for, the average w a s 0. 5 cent
for all emp l o y e e s ; h o w e v e r , the expenditure for supervisors w a s twice that for
nonsup e r v i s o r y e m p l o y e e s — 0. 8 cent and 0. 4 cent, respectively. Establishments
with expenditures for other paid leave spent, in cents per hour paid for, 0. 8 cent
for all e m p l o y e e s , 1.8 cents for supervisors, and 0.7 cent for n o n s u p e r v i s o r y
emp l o y e e s .
All-establishment averages r a n g e d f r o m 0. 7 cent in insurance c a r ­
riers to 0. 1 cent in real estate.
F o r establishments with expenditures, averages
r a n g e d f r o m 0. 9 cent per hour in both credit agencies other than ba n k s and in­
surance agents, brokers, and service to 0.6 cent in real estate.




Table 3 Percent of Employees in Finance, Insurance, and Real Estate Industry
.
Establishments With Expenditures for Paid Leave, by Employee
and Industry Groups, 1 1961
T o ta l
E m p lo y e e

and

in d u s tr y

gro u p

p a id
le a v e

A ll
A ll

P a id

P a id

v a c a tio n s

h o lid a y s

P a id
s ic k

O th e r
p a id

le a v e

le a v e 1
2

e m p lo y e e s

i n d u s t r i e s 3 -----------------------------------------------------

98. 5

9 7 .9

96. 9

80. 8

56. 1

B a n k i n g 3 --------------------------------------------------------------------------------

100. 0

9 9 .9

98. 6

91. 4

66. 6

b a n k s -----------

100. 0

98. 5

91. 3

68. 0

o t h e r t h a n b a n k s ----------------------------

99. 5

9 9 .9
98. 7

98. 2

77. 1

41. 0

C o m m e r c ia l and
C r e d it

a g e n c ie s

S e c u r it y

and

sto c k

c o m m o d ity

e xch an ge s,

b ro k e rs,

d e a le r s ,

s e r v i c e s -------------------------------------------

100. 0

In s u r a n c e

c a r r i e r s ----------------------------------------------------------

In s u r a n c e

age n ts,

R e a l

and

s a v in g s

9 9 .9

100. 0

82. 6

57. 7

9 9 .9

9 9 .9

99. 9

94. 4

81. 0

s e r v i c e -----------

99. 0

98. 7

98. 2

72. 0

3 9 .9

e s t a t e -----------------------------------------------------------------------------

93. 4

90. 8

87. 7

52. 1

19. 1

b ro k e rs,

S u p e r v is o r y
A ll

and

e m p lo y e e s

i n d u s t r i e s 3 -----------------------------------------------------

95. 8

92. 5

94. 1

60. 3

39. 4

B a n k i n g 3 ___________________________________________________

100. 0

99. 2

98. 7

78. 7

50. 9

b a n k s -----------

100. 0

99. 2

98. 6

78. 1

51. 7

t h a n b a n k s ----------------------------

99. 0

97. 8

97. 6

48. 6

31. 1

s e r v i c e s -------------------------------------------

89. 8

89. 7

89. 8

63. 4

34. 7

In s u r a n c e

c a r r i e r s ----------------------------------------------------------

98. 3

68. 9

a ge n ts,

s e r v i c e -----------

94. 8

99. 1
98. 1

84. 8

In s u r a n c e

99. 2
98. 6

54. 9

33. 6

e s t a t e -----------------------------------------------------------------------------

82. 8

74. 0

77. 8

28. 0

9. 5

i n d u s t r i e s 3--------------------------------------------------------

98. 2

97. 8

96. 5

80. 7

55. 2

B a n k i n g 3 --------------------------------------------------------------------------------

99. 9

9 9 .9

98. 5

92.

1

67. 9

b a n k s -----------

99. 9

92. 0

69. 3

99. 2

9 9 .9
98. 7

98. 3

b a n k s ----------------------------

97. 6

76. 1

39. 3

C o m m e r c ia l and
C r e d it

a g e n c ie s

S e c u r it y

and

e xch an ge s,

R e a l

sto c k

o th e r

c o m m o d ity
and

s a v in g s

b ro k e rs,

b ro k e rs,

N o n s u p e r v is o r y
A ll

C o m m e r c ia l and
C r e d it

a g e n c ie s

S e c u r it y

and

e xch an ge s,

sto c k

o th e r

e m p lo y e e s

s a v in g s

th a n

c o m m o d ity

b ro k e rs,

d e a le r s ,

s e r v i c e s -------------------------------------------

99. 7

99. 6

99. 6

83. 8

59. 5

In s u r a n c e

c a r r i e r s ----------------------------------------------------------

99. 9

99. 8

9 9 .9

94. 6

76. 7

In s u r a n c e

a ge n ts,

s e r v i c e -----------

98. 8

98. 6

98. 1

71. 8

36. 5

R e a l e s t a t e -----------------------------------------------------------------------------

92. 5

90. 6

86. 8

47. 7

17. 4

1

and

and

d e a le r s ,

E x c lu d e s

b ro k e rs,

n o n o ffic e

2

In c lu d e s

m ilita r y ,

3

In c lu d e s

in d u s t r ie s




and

s a le s m e n .
ju ry ,
not

w it n e s s ,
sh o w n

v o t in g ,

s e p a r a t e ly .

and

p e r s o n a l le a v e .

Table 4 Employer Expenditures for Paid Leave i Finance, Insurance, and Real Estate Industries, All Establishments and Establishments
.
n
With Expenditures, by Employee and Industry Groups, 1 1961
P e rce n t of g ro ss
E m p lo y e e

a n d in d u s t r y

grou p

A l l e s t a b lis h m e n t s
T o ta l

V a ca ­
t io n s

H o lid a y s

p a y r o ll

P e r c e n t o f s t r a ig h t - t im e
A l l e s t a b lis h m e n t s

E s t a b l i s h m e n t s w i t h e x p e n d i t u r e s f o r ------

S ic k
le a v e

O th e r

2

T o tal

3

V aca­
t io n s

H o lid a y s

S ic k
le a v e

O th e r

2

T o ta l

V aca­
t io n s

H o lid a y s

S ic k
le a v e

p a y r o ll

E s t a b l i s h m e n t s w i t h e x p e n d i t u r e s f o r ----O th e r

2

T o ta l

3

V aca­
t io n s

H o lid a y s

S ic k
le a v e

O th e r

A l l e m p lo y e e s
A l l in d u s t r ie s
B a n k in g

4------------------------------

4-------------------------------------------------------

C o m m e r c ia l and sto c k
s a v i n g s b a n k s ---------------------------------C r e d it a g e n c ie s o th e r
t h a n b a n k s -----------------------------------------------

3 .8

2. 7

1.1

0. 2

8. 7

4. 1

3. 0

1 .4

0. 2

8. 6

4. 1

2 .9

1 .4

.

7. 1

3 .8

2. 5

.8

.

6. 0

.

7.

8

7. 9

3 .9

2 .8

1 .3

0. 3

7 .9

3.

8

2. 8

1. 1

0. 2

8. 0

3 .9

2 .8

1 .3

0. 3

8.

7

4. 1

3. 0

1 .5

0. 3

8.

7

4. 2

3. 0

1 .4

0. 2

8.

7

4. 2

3. 0

1. 5

0. 3

2

8. 6

4. 1

3. 0

1 .5

. 3

8.

7

4.

1

3. 0

1 .4

.

2

8.

7

4. 1

3. 0

1. 5

. 3

2

7. 2

3 .8

2. 5

1.0

. 3

7. 2

3 .8

2. 5

.

8

.

2

7. 2

3.

8

2. 5

1.0

. 3

1

6. 0

6. 1

.8

.

9. 1

3. 1

1 .5

1.0
1.6

.

. 3

2 .9
4. 2

2. 2

3. 1

1.0
1.6

2

9. 1

2 .9
4. 2

2. 2

. 3

7.
6.

8
1

3 .9
3. 3

2 .8

1. 3

2. 8
2. 2

.9
. 5

. 3

5 .9

3 .9
3. 1

1 .3

.9

. 3
. 2

7.

2. 4

8.

3

4 .6

2 .8

1. 3

. 3

8. 1

4. 4

2. 7

.9

.

5. 1

3. 1

1 .4

0. 4

9. 4

5. 0

3. 0

1. 1

0. 2

9. 4

*

S e c u r it y a n d c o m m o d ity b r o k e r s ,
d e a le r s , e x c h a n g e s,

.8

9. 1

2 .9
4. 2

2. 2

c a r r i e r s --------------------------------age n ts, b ro k e rs,

3. 1

T. 5

a n d s e r v i c e --------------------------------------------R e a l e s t a t e --------------------------------------------------

7. 7
5 .8

3 .9
3. 1

2 .8
2. 2

.9
. 5

s e r v i c e s --------------------------------------------

S u p e r v is o r y

.

1

( 5)

A ll in d u s t r ie s

4------------------------------

.

2

2. 7

.9

9 .4

5. 0

3. 0

1. 1

s a v i n g s b a n k s ---------------------------------C r e d it a g e n c ie s o th e r

9. 3

4 .9

3. 0

1. 1

t h a n b a n k s ------------------------------------------------S e c u r it y a n d c o m m o d ity b r o k e r s ,
d e a le r s , e x c h a n g e s,
a n d s e r v i c e s --------------------------------------------

7. 3

4. 2

2. 4

.

6

6.6
2

. 7

9.

3. 5
4 .8

2. 2

In s u r a n c e
In s u r a n c e

3. 1

1. 1

7. 7
6. 0

4. 3
3. 4

2. 7
2. 0

. 7
. 5

2 .8

1. 2

.

2 .9

1 .5

0. 2

8.

3

3. 7

1. 5

.

2

8.

3

3.

c a r r i e r s --------------------------------a ge n ts, b r o k e rs,

a n d s e r v i c e --------------------------------------------R e a l e s t a t e -------------------------------------------------N o n s u p e r v is o r y
A ll in d u s t r ie s

----------------------------

t h a n b a n k s ----------------------------------------------S e c u r it y a n d c o m m o d ity b r o k e r s ,
and

and

8

1

6. 1
9. 1

2 .9
4. 2

2. 2

. 3

1

7. 8
6. 2

3 .9
3. 3

2 .9
2. 4

8.

4 .6

2 .8

1. 3

. 3

5. 1

3. 1

1 .4

0. 4

.

(5)

3. 1

.9

2

. 3

.

2

2

3

0. 2

9. 4

.

2

9. 3

5. 0

3. 1

1 .4

. 4

9. 3

4 .9

3. 0

1. 1

.

2

9. 3

5. 0

3. 1

1 .4

. 4

.

1

7. 3

4. 2

2. 4

1.2

. 4

7. 3

4. 2

2. 4

.6

.

1

7. 4

4. 3

2. 4

1.2

. 4

.
.

1
2

6 .9
9. 3

3. 7
4 .8

2. 4

1. 1

6. 6
2

.
.

3. 7
4 .8

.

1. 1

6 .9
9. 3

1. 1

3. 1

1
2

2. 4

9.

3. 5
4. 8

. 7

1 .3

. 2
. 3

2. 2

3. 1

3. 1

1 .3

. 3

.

1

7 .8

2. 7
2. 4

7.

8
6.8

4. 4
4. 0

2. 7
2. 4

1.2

3. 4

. 7
. 5

1

6. 0

2. 7
2. 0

.

1 .3

. 4
. 2

4. 3

6. 8

4. 4
4. 0

7. 7

(5)

. 4
. 2

7 .8

3. 5

2 .8

1 .5

. 3

7.

8

3. 5

2.8

1 .3

6

2 .9

1 .5

. 3

3. 0

1.6

0. 3

8.

4

3. 7

3. 0

1 .5

3. 0

1.6

0. 3

6

3. 0

1.6

. 3

8.

4

3. 7

3. 0

1. 5

7. 0

3. 5

2. 6

1.1

. 4

7. 1

3. 5

2. 6

5 .8

2 .7

2. 2
3. 2

1.0
1.8

. 2
. 4

5 .9
9. 1

2. 7

3 .9

3 .9

1 .5

. 3

7.

8

3. 6
3. 0

1.2

(5)

1. 3

2

e m p lo y e e s

4

B a n k i n g 4 _________________________________
C o m m e r c ia l and s to c k
s a v i n g s b a n k s ---------------------------------C r e d it a g e n c ie s o th e r

7. 7

3. 5

8.

3

3. 7

8.

3

6

2 .9

7. 0

3. 4

2. 5

8
0

2. 7
3 .9

7. 8
5. 7

3. 6
3. 0

3.

2

.9

.

2

2. 2

.8

.

1

3. 2

1. 7

. 3

2 .9
2. 2

1. 1

.
.

.

2

7 .9

3.

0. 2

8.

4

3 .7

.

2

8.

4

3. 7

3. 0

1.6

. 3

.9

.

2

7. 1

3. 5

2. 6

1. 1

. 4

2. 2

.8

.

1

2. 3

1 .7

. 3

5 .9
9. 1

2. 7

3. 2

3 .9

3. 2

1.0
1.8

. 2
. 4

2 .9
2. 2

1. 1

.

3.

6

3. 0

1 .5

.

1
1

7 .9

. 5

6. 1

3. 2

2 .4

.9

. 3
. 2

e xch an ge s,

s e r v i c e s --------------------------------------------

In s u r a n c e
In s u r a n c e

o

4. 4

B a n k i n g 4 ----------------------------------------------------C o m m e r c ia l and sto c k

d e a le r s ,

.

e m p lo y e e s

00

and

In s u r a n c e
In s u r a n c e

c a r r i e r s --------------------------------a ge n ts, b ro k e rs,

s e r v i c e ---------------------------------------------

R e a l e s t a t e --------------------------------------------------

S e e fo o tn o te s a t e n d o f ta b le .




5.
9.

. 5

1
1

9.

0

6

7 .8

3.

6. 0

3. 2

3. 0
2. 4

.9

.

2

5 .8

2

Table 4 Employer Expenditures for Paid Leave in Finance, Insurance, and Real Estate Industries, All Establishments and Establishments
.
With Expenditures, by Employee and Industry Groups, 1 1961-Continued
C e n t s p e r h o u r p a id f o r
E m p lo y e e

a n d in d u s t r y

grou p

A l l e s t a b lis h m e n t s
T o ta l

V aca­
t io n s

H o lid a y s

C e n ts p e r p la n t m a n - h o u r

E s t a b li s h m e n t s w it h e x p e n d it u r e s f o r —

S ic k
le a v e

O th e r

2

T o ta l

3

V aca­
t io n s

H o lid a y s

S ic k
le a v e

O th e r

A l l e s t a b lis h m e n t s

2

T o tal

V aca­
t io n s

H o lid a y s

S ic k
le a v e

E s t a b li s h m e n t s w it h e x p e n d it u r e s f o r —
O th e r

2

T o ta l

3

V aca­
tio n s

H o lid a y s

S ic k
le a v e

O th e r

A l l e m p lo y e e s

4

-----------------------

4
C o m m e r c ia l and sto c k
s a v i n g s b a n k s -----------------■-----------C r e d it a g e n c ie s o th e r
t h a n b a n k s --------------------------------------------

20. 3

9 .9

7. 1

2 .9

0. 5

20. 5

10. 0

7. 3

3. 5

0 .8

22. 1

10. 7

7. 7

3. 1

0. 5

22. 3

10. 9

7. 9

3 .8

0 .9

20. 7

A ll in d u s t r ie s

9 .8

7. 1

3. 2

0. 5

20. 7

9 .9

7. 2

3. 5

0. 8

22. 7

10. 8

7 .8

3. 5

0. 6

22. 7

10.8

7 .9

3 .9

0 .8

3. 5

.

6

22. 3

10. 6

7.

2. 1

.4

20. 0

10. 7

7. 0

20. 4

9 .7

7. 0

3. 2

. 5

20. 4

9. 7

7. 1

3. 5

.8

22. 3

10. 6

7.

6

9 .8

6. 4

2. 0

. 4

18.

6

9 .9

6.

5

2. 5

.9

20. 0

10. 5

6 .9

9. 1

3 .9
4. 1

.

2 6 .9
2 5 .6

13. 0

9 .9

3. 5

8. 0

11.8

8.8

4. 2

5
. 7

2 6 .9
25. 6

13. 0
11.8

3.
2.

23. 7
14. 5

1 1 .9
7. 7

8. 6

2 .8

. 4

.6

5 .4

1. 3

.

1

2 3 .9
15. 2

4. 7

.8

6. 1

1.2

18.

6

8

3.

8

.9

2. 7

1. 0

8. 8

4. 5

.9

12. 0
8. 2

8. 7
6. 0

3 .9
2. 4

1.0
.6

45. 5

25. 5

15. 4

7. 7

2. 0

5 1 .2

27.

8

7. 7

2. 3

50. 1

2 6 .8

16. 4

7. 7

2. 3

S e c u r it y a n d c o m m o d ity b r o k e r s ,
d e a le r s , e x c h a n g e s ,
24. 9

12. 0

9. 1

3. 3

c a r r i e r s ---------------------------a ge n ts, b ro k e rs,

23. 3

10. 7

8. 0

3 .9

. 7

23. 3

12. 0
10 .8

a n d s e r v i c e ---------------------------------------R e a l e s t a t e --------------------------------------------

2 1 .9
13. 7

11.0

7 .9
5. 1

2. 6
1.2

. 4

22. 0

11.0

.

1

14. 3

7. 7

8. 0
5. 6

4 -----------------------

40. 4

2 1 .9

13. 4

4. 3

.8

41. 7

23. 3

14. 1

6 .9

1.8

44. 0

23.

B a n k i n g 4 ______________________________
C o m m e r c ia l and sto c k

46. 3

24. 7

15. 0

5. 5

1. 0

46. 3

24. 9

15. 2

6 .9

2. 0

51. 2

27. 3

45. 4

24. 1

14.

6

5. 5

1. 1

45. 4

24. 3

14.

8

7. 0

2. 1

50. 1

26.

33. 5

19.

2

10.8

2.8

. 7

33. 7

1 9 .6

11. 0

5. 7

2. 1

36. 2

20 . 8

1 1 .7

3. 0

. 7

36. 5

2 1.2

1 1 .9

6. 2

2. 3

1

17. 8
15. 2

5. 7

. 7

20. 0

56. 7

30. 5

10. 0

2. 3

4 9 .9

25. 7

.8
1.2

2 1.8

1. 5

6. 1
6. 2

34. 5

15. 3

19. 3
1 6 .8

64. 1

23. 7

9. 1
6. 6

2. 0

1. 1

58. 6
45. 5

3 1 .6

6

50. 2

26.

2

16. 9

7. 3

1 .7

14. 1
10. 2

3. 5
2. 6

.6
2

4 1 .6
34. 6

24. 0
21. 4

14. 4

6.

3

1 .9

44.

24. 7

15. 4

7.

8

1.6

3 1 .8

0

10. 9

. 7
. 2

45. 2

12. 6

3. 8
2. 7

37. 2

26. 2
23. 1

13.

6
6

7. 0
8. 5

2. 1
1.8

6

2. 5

#4

1 5 .8

7. 2

5 .8

3. 1

#7

17. 0

7. 7

6. 1

2.8

#4

17. 2

7.

8

6.

3

3. 4

_7

In s u r a n c e
In s u r a n c e

S u p e r v is o r y

7. 3

C r e d it a g e n c ie s o th e r
t h a n b a n k s -----------------------------------------S e c u r it y a n d c o m m o d ity b r o k e r s ,
d e a le r s , e x c h a n g e s,

52. 3

28.

c a r r i e r s ---------------------------age n ts, b ro k e rs,

45. 2

23. 3

a n d s e r v i c e ---------------------------------------i\ 6 a l ©SZa l © — — — — — — — — — — —

41. 1

22.8

2 9 .9

1 6 .9

and

s e r v i c e s ---------------------------------------

N o n s u p e r v is o r y

15. 7

4

.9

5.

6

18.

8

6

14.

6

1 6 .6
16.

2

6. 0

6

16.

15.

7. 1

5.

15. 4

C o m m e r c ia l and sto c k
s a v i n g s b a n k s ---------------------------C r e d it a g e n c ie s o th e r
t n a n O c tn ic s — — — — — — — — — — —
S e c u r it y a n d c o m m o d ity b r o k e r s ,
d e a le r s , e x c h a n g e s,
an d s e r v ic © s — —
—
—
— —
in s u r a n c e c a r r ie r s
In s u r a n c e a g e n ts, b r o k e r s ,
a n a se r v ie e —
—
—
—
—

1
2
3
4
5

.9

9 .9

e m p lo y e e s

A 11 I
- _
A l l . n -d _ sJ r.i e s 4
u t

R e a l e sta te

6
2

8

!s

e m p lo y e e s

A l l in d u s t r ie s

In s u r a n c e
In s u r a n c e

24. 9

>
•

--------------------------------------------

6. 8

5. 5

2.8

.4

15. 4

6. 8

5. 5

3. 0

0. 6

1 6 .9

7. 4

6. 0

3. 0

0 .4

1 6 .9

7. 5

6. 1

3. 3

0 .7

15. 2

6.

7

5. 3

2. 7

. 4

15. 2

6.

7

5. 4

3. 0

.6

1 6 .6

7. 3

5 .8

3. 0

. 5

1 6 .6

7. 3

5 .9

3. 3

. 7

13. 7

6.

7

5. 0

1 .7

3

13. 7

6. 8

5. 1

2. 2

.8

14. 7

7. 2

5. 3

1.8

. 3

1 4 .8

7. 3

5. 4

2. 4

.

20. 1
18. 0

9.

2

7.

6

2.8

5

9.

7.

6

3. 1

_5

3

7. 0

3 .8

.

2 1.8
19. 8

10. 0
8. 5

8.

6!

10. 0
8. 5

8. 2

3. 4

>7

21. 7

3

3. 4
3. 6

.8

6.

3. 6
4. 0

.8
.8

16. 4

7. 6
5 .8

6. 2

2. 4

6. 7
4! 5

17. 9
12. 5

8. 3
6.’ 6

6. 8

3. 5

1.0

8. 2
6. 1

2. 6

4. 3

5. 1

2. 1

.8
.6

11.2

E x c lu d e s n o n o ffic e s a le s m e n .
In c lu d e s m il i t a r y , j u r y , w it n e s s ,

v o t in g ,

0

.

6

20. 2
18. 0

.

1

16. 5
1 1 .7

6.
6. 2

3

3. 2

4.

8

2. 0

a n d p e r s o n a l le a v e .

T h e d e t a il d o e s n o t a d d to th e t o t a l b e c a u s e
In c lu d e s in d u s t r ie s n o t s h o w n s e p a r a t e ly .
L e s s t h a n 0. 05 p e r c e n t .

a d iffe r e n t p a y r o ll o r h o u r s

b a s e w a s u s e d f o r e a c h it e m .

NOTE: Because of rounding, sums o individual items may not equal t
f
otals.




2

.
!

8
6

19.

8

1 7 .8
1 1 .8

1. 0

6
3

;

1

3

7. 0

8

2

T a b le

5.

D is t r ib u t io n o f E m p lo y e e s in F in a n c e , In s u r a n c e , a n d R e a l E s t a t e In d u s t r ie s b y L e a v e
o f G r o s s P a y r o l l, b y E m p lo y e e a n d In d u s t r y G r o u p s , 1 1961

P e r c e n t o f e m p lo y e e s
E m p lo y e e s
E m p lo y e e

a n d in d u s t r y g r o u p

No
le a v e
e x p e n d i­

Leave

e x p e n d itu r e s

E x p e n d itu r e s

as

a P e rce n t

in e s t a b lis h m e n t s w it h —
as

a pe rcen t of g r o ss

p a y r o ll o f—

Under

1

2

3

4

5

6

7

8

9

10

11

12

13

14

and
under

-

-

-

-

-

-

-

-

-

-

-

-

and

3

4

5

6

7

8

9

10

11

12

13

14

over

1 .3

2. 8

2.6

5. 7

8.

0. 4

0. 3

tu re s

1
2

e s t a b lis h m e n ts

0.

0. 8

4. 1

A l l e m p lo y e e s
A l l in d u s t r ie s

2 ________________
1

100. 0

1. 5

0. 8

100. 0
C o m m e r c ia l an d s to c k s a v in g s
b a n k s _______________ _______________

5

12. 8

15. 0

16. 3

1 3 .7

8.

2. 0

1 .5

1 2 .9

19.6

22.6

1 5 .8

9. 7

9 .6

3. 5

0. 4

3. 0

.4

3

6.

7

-

. 3

1. 0

. 7

4 .4

12. 8

21. 2

23. 0

15. 4

8.

4

9 .6

0. 3

. 3

. 9

9. 1

17. 1

20. 0

24. 0

14. 2

3. 5

6.

7

1. 7

2. 0

2 .8

7. 1
. 2

12. 0

1 4 .6

13. 7

3. 3

8.

7

12. 1

8. 5
21. 2

1 .4
1 2 .4

1. 7

2 .4

11. 0
18. 0

2.6

.7

11. 5
1. 0

11. 0

. 9

1 1 .7

2. 1

_

.5

.

8

9. 7

12 .2

10. 1

9 .9

17. 7
4. 1

7.

5

14. 1
14. 2

12. 2

8.

10. 7
1 6 .4

15. 0

4 .7

3. 9
7. 3

2 .9

1.8

2 .6

8

4. 3

9 .4

12. 7

12. 8

14. 1

12. 5

6 .9

5. 7

10 .6

14. 7

4.

3 .9

100. 0

-

100. 0

0. 5

100. 0
100. 0

.

100. 0
100. 0

1. 0
6. 6

2. 1

________________

100. 0

4. 2

.6

_______

100. 0

C o m m e r c ia l a n d s to c k s a v in g s
b a n k s __ ,____________________________
C r e d it a g e n c ie s o th e r th a n

100. 0

-

-

100. 0

1. 0

100. 0
100. 0
100. 0
100. 0

C r e d it a g e n c ie s

9

-

-

o th e r th an

0. 1

. 9

S e c u r it y an d c o m m o d ity b r o k e r s ,
d e a le r s , e x c h a n g e s , an d
s e r v i c e s _______________________________
I n s u r a n c e c a r r i e r s ___________________
In s u r a n c e a g e n t s , b r o k e r s , a n d
R e a l e sta te

_____________________________

-

1

8

4. 1
.

1. 8

1

4 .4

.

8

. 3

. 4

2

.6

.

S u p e r v is o r y e m p lo y e e s
A ll in d u s t r ie s

2

R a n k in g 2 _

1

banks

_______

S e c u r it y a n d c o m m o d ity b r o k e r s ,
d e a le r s , e x c h a n g e s , an d
s fir v ir ft R
_ .
T n su ra n rp r a r r ip r s
- .
In s u r a n c e
s

6 r v ie

age n ts,

e

b ro k e rs,

2. 7

3 .7

1 .9

8

5. 2

4. 1

5. 3

3. 5

0. 4

1. 2

1. 1

6. 0

. 3

.4

1. 3

1. 2

6. 0

10. 5

15.

0. 3

1. 0

. 7

1. 4

11.6

20. 1

13. 0

2 0 .6

10. 2
. 8

. 9
. 9

1 1 .4

2. 8
1. 0

1 6 .6
2. 0

6.

3

5.

6

1 1 .7
6. 5

8.6

. 9

10. 7

1. 4
17. 2

.8
4 .4

2. 1

6. 0

3. 5

1 0 .4

18. 5

12. 5

1. 4

7. 2

11. 3

3. 3

8.

1. 8

1. 1

1. 5

2. 3

2. 7

5. 0

10. 4

12. 7

17. 5

15.

12. 6

8. 1

5. 1

1. 9

1. 4

. 5

0. 6

0. 7

1. 1

5. 1

15. 9

21. 8

24. 3

1 1 .7

12. 2

4. 2

1.6

0. 4

0. 3

. 4

.8

8

1 7 .9

13. 9

9. 5

10. 2

2

14. 1

8. 6

10. 9

10. 3

1 0 .7

2. 7

4. 3

. 3

1. 3

. 7

7 .4
24. 0

8 .4

4. 5

2. 8

11. 9

14. 9

7. 9

4 .5
4. 5

2. 8
6. 8

1. 6

27. 2

2. 8
2. 1

3. 3

. 5

1. 1

1. 1

18.

. 2

and

_____ ________________- _____

R e a l e sta te

3.

0 .4

_____________________________

.

2

4

16.

1

8.

3

8. 4
8. 1

6 .7

.9

1. 5

1. 0

2. 2

N o n s u p e r v is o r y e m p lo y e e s
A ll in d u s t r ie s

2

________________

C o m m e r c ia l a n d s to c k s a v in g s
b a n k s _______________________________

d e a le r s , e x c h a n g e s , an d
«*=» r v i r p f i .
...
fp sn ra n re r a r r ip r s
. .......

Rpal

age n ts, b r o k e rs,
_
______

p sta te

1
2
3

_

_____

‘

(3 )

100. 0

(3 )

100. 0

. 3
. 1

100. 0
100. 0

1. 2

. 5

.

8

1. 1

5. 7

1 5 .9

23. 7

22. 7

11. 5

12. 0

4. 5

1. 1

•5

2. 8

7. 7

21. 0

16. 3

24. 4

12.6

5. 2

7. 0

. 5

. 4

1.6

13. 3
2. 2

11. 3
6. 2

12. 0
6. 8

17. 3
18. 2

14. 0
14. 8

4. 8
21. 8

2. 3

2. 5
9

3. 0

3. 7

7. 7

12. 0
19. 0

17. 7

17. 0
7. 6

10 .6

11. 1

4. 3

10. 2

3 .6

9. 7

4. 1

2. 1

. 9

. 3
. 1

-

-

12. 9

6.6

1. 3

. 5

. 3

8
8

1. 4
5. 8

2. 1
8. 3

1. 4

10.

9

8.

-

1. 1

and
_______

7. 5

.
2.

6. 8

E x c lu d e s n o n o ff ic e s a le s m e n .
In c lu d e s in d u s t r ie s n o t s h o w n s e p a r a t e ly .
L e s s t h a n 0. 05 p e r c e n t .

NOTE: Because of rounding, sums of individual items may not equal t
otals.




6

0 .6

0. 8

100. 0
100. 0

C r e d it a g e n c ie s o th e r th a n
banks _
______
S e c u r it y a n d c o m m o d ity b r o k e r s ,

In s u r a n c e
s e r v i c. e*
*.

100. 0
100. 0

R a n k in g 2

10.6

1 3 .7

.

8

.

2

Table 6 Distribution of Employees i Finance, Insurance, and Real Estate Industries
.
n
by Vacation Expenditures as a Percent of Gross Payroll, by Employee
and Industry Groups, 1 19&1
P e r c e n t o f e m p lo y e e s
E m p lo y e e s
E m p lo y e e

a n d in d u s t r y

group

in a ll
e st a b lis h m e n ts

V a c a t io n

No
v a c a t io n
e x p e n d itu re s

2

1
Under

1

in

e s t a b l i s h m e n t s w it h —

e x p e n d itu r e s a s
3

a pe rcen t of g r o ss

p a y r o ll o f—

6

5

4

and
under

2

8

7

and

“
3

4

6

5

7

8

over

A l l e m p lo y e e s
-------------------------

100. 0

2. 1

2. 6

4. 4

11. 1

35. 1

32. 2

10. 8

1. 1

0. 4

--------------------------------------------------

100. 0

0. 1

0. 2

0. 6

4. 7

38. 9

42. 5

12. 4

0. 6

_

41. 7

A l l in d u s t r ie s
B a n k in g

2

2
1

C o m m e r c ia l an d s to c k s a v in g s
b a n k s -----------------------------------------------C r e d it a g e n c ie s o th e r th a n
b a n k s ------------------------------------------------------S e c u r it y a n d c o m m o d ity b r o k e r s ,
d e a le r s , e x c h a n g e s , a n d
s e r v i c e s -----------------------------------------------In s u r a n c e
In s u r a n c e

c a r r i e r s ----------------------------a ge n ts, b ro k e rs, and

s e r v i c e --------------------------------------------------R e a l e s t a t e ----------------------------------------------S u p e r v is o r y

100. 0

.

1

.

1

.

6

4. 3

42. 1

10. 7

. 4

-

-

100. 0

1. 3

.

1

2. 6

14. 0

47.

6

29. 3

4. 3

. 4

0. 5

-

100. 0
100. 0

(3)
. 1

7. 1
2. 1

20. 6

23. 5

26. 5
31. 6

13. 3

5. 3

6

2. 6
1. 1

.9
. 2

1. 3

. 7

6. 6

10. 7

4 1 .0

30. 4

9. 3

21. 2

30. 1

17. 9

1 .9
. 6

. 7

6

6. 5
2. 6

5. 2

6.

30. 4

20 . 1

16.

.9

7. 1

9.

100. 0

7. 5

1.0

1 .4

4. 3

32. 1

13.

6

1. 5

4. 7

33. 0

13. 3

6

10. 3

43.

8

16. 4

17. 0

8. 1

17. 4
6. 7

1 5 .9
25. 1

1 1 .7
31. 8

1 1 .9
16. 8

11.2

36. 7
12. 4

10. 1
6. 2

4. 2
3. 0

6

2

7.

2

------------------------

7

100. 0

0. 8

b a n k s -----------------------------------------------C r e d it a g e n c ie s o th e r th a n

100. 0

.

8

-

b a n k s ------------------------------------------------------S e c u r it y a n d c o m m o d ity b r o k e r s ,
d e a le r s , e x c h a n g e s , a n d
s e r v i c e s ------------------------------------------------

100. 0

2. 2

0. 3

100. 0
100. 0

10. 3
1 .7

.9

.9

100. 0
100. 0

5. 2
26. 0

. 4

2. 0

5. 2

2. 3

14. 7

6. 1

32. 1
24. 0

--------------------------------------------------

C o m m e r c ia l an d

sto c k

R e a l e s t a t e ----------------------------------------------N o n s u p e r v is o r y

. 7

2. 0

0

7 .9

3. 3

27.

6

13. 1

3 .9

3. 3

27.

8

1 2 .9

3. 4

2. 6

13.

3.

4. 3

.9

1. 1

2

7. 3

1 .4
4, 2

2. 7

3.
2.

8
0

. 3

.

1

_

.

.

.

6

3. 4

e m p lo y e e s
-------------------------

100. 0

2. 2

2. 9

5. 1

17. 2

44. 0

25. 1

2. 8

.

--------------------------------------------------

100. 0

0. 1

0. 2

0. 3

15. 3

60. 5

21. 0

2. 2

0. 3

A l l in d u s t r ie s

2

-

0. 2
. 8

s a v in g s

I n s u r a n c e c a r r i e r s ----------------------------In s u r a n c e a g e n ts, b r o k e r s , a n d
s e r v i c e ---------------------------------------------------

B a n k in g

18.

100. 0
100. 0

.

2

38. 2

e m p lo y e e s

A l l in d u s t r ie s
B a n k in g

0. 2

2

C o m m e r c ia l an d s to c k s a v in g s
b a n k s -----------------------------------------------C r e d it a g e n c ie s o th e r th a n

100. 0

. 1

.

1

. 3

15. 1

64.

8

17.

8

1. 4

. 3

-

-

100. 0

1. 3

.

1

7. 3

24. 7

42.

6

22. 4

1. 5

.

1

-

-

s e r v i c e s -----------------------------------------------I n s u r a n c e c a r r i e r s ----------------------------In s u r a n c e a g e n ts, b r o k e r s , a n d

100. 0
100. 0

. 4
. 2

12. 5

15. 5

2 7 .9
42. 3

3. 0
3. 3

1. 1
. 2

-

-

1.8

27. 3
12. 5

12. 2

1. 6

0. 2

s e r v i c e ---------------------------------------------------

100. 0
100. 0

1 .4

1. 3

13. 8
22. 1

49. 8
30. 1

3. 0

2. 3

.

7.

6. 8
12. 6

21. 4

9. 4

14. 3

2. 4

1.0

. 3

b a n k s ------------------------------------------------------S e c u r it y a n d c o m m o d ity b r o k e r s ,
d e a le r s ,

e xch an ge s,

and

R e a l e s t a t e -----------------------------------------------

1
2
3

E x c lu d e s n o n o ffic e
In c lu d e s
L e ss

6

s a le s m e n .

in d u s t r ie s n o t s h o w n s e p a r a t e ly .

th a n 0. 05 p e r c e n t.

NOTE: Because of rounding, sums of individual items may not equal t t s.
o al




38. 0

2

-

Table 7 Distribution o Employees in Finance, Insurance, and Real Estate Industries by
.
f
Holiday Expenditures as a Percent o Gross Payroll, by Employee
f
and Industry Groups, 1 1961
P e r c e n t o f e m p l o y e e s in e s t a b l i s h m e n t s w it h —
E m p lo y e e s
E m p lo y e e

in a ll
e s t a b lis h -

an d in d u s try g ro u p

H o lid a y

No
e x p e n d itu re s

m e n ts

Under

1

e x p e n d itu re s a s a p e r c e n t o f g r o s s

2

1

h o lid a y

3

p a y r o ll o f—
4

and
under

2

5
and

3

5

4

over

A l l e m p lo y e e s

6

--------------------------------------------------

100.0

3. 1

B a n k i n g 2 --------------------------------------------------------------------------C o m m e r c i a l a n d s t o c k s a v i n g s b a n k s ----------

100. 0
100. 0
100. 0

1 .4

100. 0
100. 0
100. 0
100. 0

. 1
1.8
12. 3

--------------------------------------------------

100. 0

5 .9

2. 3

B a n k i n g 2 --------------------------------------------------------------------------C o m m e r c i a l a n d s t o c k s a v i n g s b a n k s ---------C r e d i t a g e n c i e s o t h e r t h a n b a n k s --------------------------

100. 0
100. 0
100.0

1. 3
1 .4
2. 4

0. 2
. 2
2. 7

100.0
100.0
100.0
100.0

10. 2
.9
1 .9
22. 2

2---------------------------------------------------

100.0

B a n k i n g 2 --------------------------------------------------------------------------C o m m e r c i a l a n d s t o c k s a v i n g s b a n k s ----------

100.0
100. 0
100. 0

A l l in d u s t r ie s

2

C r e d i t a g e n c i e s o t h e r t h a n b a n k s -------------------------S e c u r it y a n d c o m m o d ity b r o k e r s , d e a le r s ,
e x c h a n g e s , a n d s e r v i c e s ---------------------------------------In s u r a n c e
In s u r a n c e

c a r r i e r s -------------------------------------------------------

a g e n t s , b r o k e r s , a n d s e r v i c e ---------R e a l e s t a t e -----------------------------------------------------------------------S u p e r v is o r y
A l l in d u s t r ie s

2

R e a l e s t a t e -----------------------------------------------------------------------N o n s u p e r v is o r y

C r e d it a g e n c ie s
S e c u r it y an d
e xch an ge s,
In s u r a n c e
In s u r a n c e

o t h e r t h a n b a n k s --------------------------

c o m m o d ity b r o k e r s ,

E x c lu d e s n o n o ff ic e s a le s m e n .
In c lu d e s in d u s t r ie s n o t sh o w n
B ecau se

o f r o u n d in g ,




6

37. 4

25.

8

11. 5

1.0

34. 1
35. 5

35. 3

12. 3

1.0
1. 1

1. 5

-

16. 0
15. 6

34. 7

11.6

1.8

1.0

24. 9

55. 7

12. 2

4. 0

. 4

-

9. 4
2. 2

29. 0
8. 6
18. 5
26. 0

3 6 .9
37. 6
3 9 .7

2 0 .9
30. 3
25. 0

3. 4

. 5

20. 5

. 8
2. 3

3 1 .0

15.

1 7 .9

3 7 .9

25. 0

9 .9

1. 1

13. 4

37. 5

1 3 .9
28. 7

34. 9
35. 3
5 1 .4

3 6 .9
12. 1

12. 5
12. 2
2. 0

0. 2
. 2
. 6

14. 2

21. 5

24.

1 .9
. 6
3. 1

6. 2

6. 0
15. 5

2. 0

23. 3
21. 4

3. 5

4. 4

15.

1. 5

1. 8
2. 0
. 5

1. 3

11. 1

8

11. 4
2. 5

1. 5

6

23. 5

37. 4
41. 5

36. 0
12. 1

19. 8

.9

3 1 .9

15. 7

4. 0

1. 8

8

*3 5 .8

27. 4

12. 0

1. 1

15. 5
15. 0

3 1 .4
32. 5

6

36. 1

11. 8
11. 6

1. 2
1. 1

25. 0

48. 2

17. 7

4. 9

1. 3

14. 7
2. 0
1. 5

19. 5
8. 2
15. 7

3 9 .7

21. 8

3. 4

37. 4
39. 8

30. 5
26. 3

21. 3
12. 0

2. 8

11. 7

24. 1

29. 3

17. 5

2. 7

1. 5

-

1. 7
2. 4

36.

d e a le r s ,

a n d s e r v i c e s ----------------------------------------

c a r r i e r s ------------------------------------------------------a g e n t s , b r o k e r s , a n d s e r v i c e ----------

N O T E :

17.

e m p lo y e e s

R e a l e s t a t e ------------------------------------------------------------------------

1
2

_

e m p lo y e e s

S e c u r it y a n d c o m m o d ity b r o k e r s , d e a le r s ,
e x c h a n g e s , a n d s e r v i c e s ---------------------------------------I n s u r a n c e c a r r i e r s ------------------------------------------------------I n s u r a n c e a g e n t s , b r o k e r s , a n d s e r v i c e ----------

A l l in d u s t r ie s

3.

100. 0
100. 0
100.0
100.0

. 4
.

1

1 .9
13. 2

s e p a r a t e ly .

s u m s o f in d iv id u a l it e m s m a y n o t e q u a l t o ta ls .

. 6
. 5

Table 8 Distribution of Employees i Finance, Insurance, and Real Estate Industries by Leave
.
n
Expenditures i Cents Per Hour Paid For, by Employee and Industry Groups, 1 1961
n
745-996 O

P e r c e n t o f e m p lo y e e s

in e s t a b lis h m e n t s w it h —

E m p lo y e e s
Leave
E m p lo y e e

and in d u s try g ro u p

- 64

e s t a b lis h m e n ts

tu re s

10

5

in c e n t s p e r h o u r p a id f o r o f—

15

20

25

30

35

40

45

50

“

"

-

-

-

-

-

and

15

5

expend!

e x p e n d itu r e s

20

25

30

35

40

45

under

10

over

50

A l l e m p lo y e e s

B a n k in g

2

2
1

100. 0

_ _

__

C o m m e r c ia l an d s to c k s a v in g s
b a n k s _________________________
C r e d it a g e n c ie s o th e r th a n
b a n k s ___________________________________
S e c u r it y a n d c o m m o d ity b r o k e r s ,
d e a le r s , e x c h a n g e s , an d
s e r v ic e s
___ __
In s u r a n c e

c a r r ie r s

In s u r a n c e

a ge n ts,

b ro k e rs,

1. 5

4. 3

7. 0

15. 1

24. 7

21. 2

13. 4

100. 0

A ll in d u s t r ie s

.

_

1. 4

17. 0

33. 4

24. 7

16.

34. 5

24. 9

1 5 .9

100. 0

_

_

8

1. 5

17.

10 0 . 0

0 .5

0 .9

6. 0

28. 7

30.

10 0 . 0
100. 0

-

2 .4

5. 0

15. 2

20. 1

17. 9

13.

.

1

2. 0

2. 3

6. 0

23. 0

29. 5

18.

10 0 . 0
10 0 . 0

1. 0
6.6

1. 5
17. 1

8
8

14. 4

24.

20. 7

19. 9

15.

8
8

2. 8

4. 7

7. 0

0.

9

2. 0

3. 0

. 9

2. 2

3. 1

8

18.

9

9

6. 8
8
0

9

2. 2

2. 2

3. 0

2. 1

1. 2

6.

0. 5

1. 2

2. 4

1 .9

1. 1

_

_

4 .6

.

1

1. 0

_

1. 8
5 .7

7. 9

6.6

2. 1

3. 5

12. 8

.9

4. 2

.6

.

9. 7
5. 3

7. 5

5. 9
2. 7

3. 7

1. 1

1. 8
1. 1

7. 1

11. 5

10. 1

25. 0

5. 5

10. 9

9. 1

6. 1

10. 8

9.

18.

8

and

s e r v ic e

______________________ _______
_
R e a l e s t a t e ______________________________

7.
20.

6.

9

3.

6

.

2

10. 6

9.

8

5. 5

17. 1

10. 5

6. 0

34. 9

0

10. 1

5 .6

33. 5

7
’

7. 4

6.

5

12. 5

6. 1
8. 9

40. 1

3 .6
2. 8

25. 9
1 3 .6

S u p e r v is o r y e m p lo y e e s

2

100. 0

C r e d it a g e n c ie s
banks
______

-

-

10 0 . 0

1. 0

1. 0

1. 5

4. 2

1 5 .9

8.

5

23. 4

9 .6

8.

100.0
10 0 . 0

10. 2
. 8

. 3

1. 0
1. 8

-

2. 8
4. 0

4. 9

7. 2

4.

1. 9

12.6
2. 0

10. 0

. 9

7. 5

9 .9

9 .6

23. 3

100. 0
10 0 . 0

1. 4
17. 2

. 2
4. 7

3 .6
7. 0

2. 1
12. 6

14. 3
5. 0

19. 7
6. 5

9. 5
7. 2

3. 4

7. 7

7. 0
13. 1

2.6

10 0 . 0

1. 8

5. 1

14. 4

28.

8

26.

2

12. 0

7. 3

3. 2

. 7

. 3

(3 )

0. 5

12. 0

35. 9

34.

8

12. 1

2. 4

2. 4

s a v in g s

o th e r th an
_
_

S e c u r it y a n d c o m m o d ity b r o k e r s ,
d e a le r s , e x c h a n g e s , an d
s e r v ic e s
In s u r a n c e c a r r i e r s
In s u r a n c e a g e n ts,
s e r v ic e _ _ _

_

100. 0

C o m m e r c ia l and sto c k
banks

1. 8

_

1 00 . 0

_ _

2

4. 2

100. 0

A ll in d u s t r ie s
B a n k in g

b ro ke rs,

8

6

29. 4

and

R e a l e s t a t e _____________________________

9 .4

N o n s u p e r v is o r y e m p lo y e e s
A ll in d u s t r ie s
B a n k in g

2 ________________

2_

C o m m e r c ia l an d s to c k s a v in g s
b a n k s _______________________________
C r e d it a g e n c ie s
banks

(3 )

.

1

10 0 . 0

(3 )

. 5

12. 8

37. 1

35. 2

11. 1

8

2. 3

_

_

_

10 0 . 0

0.8

1. 9

24. 9

35. 2

27. 2

6.

5

. 9

2. 7

_

_

_

_

100. 0
100. 0

. 3
. 1

1. 1
1. 7

17. 5
6 .4

17. 4
2 7 .6

20. 9
28. 7

15. 4
15. 3

10. 3
15. 4

6. 1

6. 8

2. 3

1. 6

0. 5

3. 9

. 7

. 3

10 0 . 0
10 0 . 0

1. 2
7. 5

1. 7
20. 7

13. 9
25. 2

33. 9

20. 8

14. 0

6. 8

4 .6
2 .4

.

14. 1

8. 7
2. 0

. 5

19. 9

.

o th e r th an

S e c u r it y a n d c o m m o d ity b r o k e r s ,
d e a le r s , e x c h a n g e s , an d
s e r v i c e s _______________________________
I n s u r a n c e c a r r i e r s ___________________
In s u r a n c e a g e n t s , b r o k e r s , a n d
s e r v i c e ________________________________
R e a l e s t a t e _____________________________

2

_

. 5

_
. 5

. 9
'

1
2
3

E x c lu d e s n o n o ff ic e s a le s m e n .
In c lu d e s i n d u s t r ie s n o t s h o w n s e p a r a t e ly .
L e s s th e m 0 . 0 5 p e r c e n t .

NOTE: Because of rounding, sums of individual items may not equal t
otals.




<1

Table 9 Distribution of Employees in Finance, Insurance, and Real Estate Industries by Vacation
.
Expenditures i Cents Per Hour Paid For, by Employee and Industry Groups, 1 1961
n

00

P e r c e n t o f e m p lo y e e s in e s t a b lis h m e n t s w it h —
E m p lo y e e s
E m p lo y e e

a n d in d u s t r y

group

e s t a b lis h m e n ts

V a c a t io n
v a c a t io n
e x p e n d itu re s

Under
5

5
and
under
10

e x p e n d itu r e s

in c e n ts p e r h o u r p a id f o r o f—

10

15

20

25

30

_

_

_

_

_

15

20

25

30

35

40

45

50

35

40

45

50
and
over

A l l e m p lo y e e s
A l l in d u s t r ie s 1
2---------------------------B a n k i n g 2________________

______________

1 0 0 .0

2. 1

1 0 .2

4 2 .7

35. 3

7. 2

1 .5

0. 7

0. 1

0. 3

0. 1

(3 )

(3 )

1 0 0 .0

0. 1

3 .5

5 3 .2

3 8 .6

3 .9

0 .7

_

_

_

_

_

_

1 0 0 .0

. 1

3 .7

5 5 .8

36. 5

3. 3

-

-

-

-

-

-

3 1 .0

4 .2

1. 6

0. 1

0 .8

-

0. 1

-

-

. 1

3. 1

-

0 ,8

-

.6

.6

C o m m e r c ia l a n d sto c k
s a v i n g s b a n k s --------------------------------C r e d it a g e n c ie s o th e r th a n
b a n k s _____________________________
___

. 4

1 0 0 .0

1. 3

6 .9

54. 1

1 0 0 .0
100. 0

(3 )
. 1

1 7 .6
4 .8

23. 1
3 7 .6

3 5 .9
47. 3

1 0 .8
9 .0

5 .7
.7

2 .8
.6

1 0 0 .0
1 0 0 .0

1. 3
9 .2

8 .4

3 6 .8
38. 9

35. 7
14. 3

14. 3

2 8 .0

1. 8
2. 4

.4
. 7

S e c u r it y a n d c o m m o d ity b r o k e r s ,
d e a le r s , e x c h a n g e s , a n d
s e r v i c e s _______________________________
I n s u r a n c e c a r r i e r s ------------------------------In s u r a n c e

age n ts,

b ro ke rs,

s e r v i c e ----------------------------------------------------R e a l e s t a t e -----------------------------------------------S u p e r v is o r y

-

-

and
6. 0

-

.7

-

-

-

-

(3 )

e m p lo y e e s

A l l i n d u s t r i e s 2---------------------------B a n k i n g 2--------------------------------------------C o m m e r c ia l an d sto c k

—

1 0 0 .0

7 .5

2 .7

9 .0

1 6 .9

1 8 .6

1 4 .8

9 .6

5. 5

5 .4

2. 4

1. 8

5 .6

1 0 0 .0

0 .8

0. 3

5 .6

1 2 .4

2 1 .5

16. 3

13. 4

9. 3

12. 3

2. 3

1 .0

4 .8

s a v i n g s b a n k s --------------------------------C r e d it a g e n c ie s o th e r th a n

1 0 0 .0

.8

. 3

6. 2

12. 0

23. 2

1 6 .0

1 3 .5

9. 1

13. 3

1. 3

.8

b a n k s ___________________________________
S e c u r it y a n d c o m m o d ity b r o k e r s ,

100. 0

2. 2

.6

1 0 .5

36. 2

15. 2

8 .5

1 4 .8

4 .5

1 .7

1. 8

1 .0

s e r v i c e s -------------------------------------------------I n s u r a n c e c a r r i e r s ------------------------------In s u r a n c e a g e n t s , b r o k e r s , a n d

1 0 0 .0
1 0 0 .0

10. 3
1 .7

2 .7
2. 1

12. 3
4. 5

11. 3

11. 9
2 5 .7

7 .0
24. 5

9 .9
6 .8

4. 8

5. 3
6. 5

8 .0

5. 6

3. 1
1. 6

1 3 .5
3 .6

s e r v i c e _________________________________

1 0 0 .0

.9
8. 1

8 .5
1 5 .8

15. 4

24. 6
1 1 .0

7 .5
4 .0

1. 2

4 .9
. 1

1 .2
1 .0

4. 2

1 0 0 .0

5. 2
2 6 .0

1 6 .7

R e a l e s t a t e ------------------------------------------------

2. 3

7 .8
7. 2

1 0 0 .0

2. 2

6 1 .0

1 5 .8

.9

( 31

_

-

-

-

-

-

d e a le r s ,

e xch an ge s,

N o n s u p e r v is o r y

3. 3
3 .0

and
1 1 .9
14. 4

7 .9

4. 3

5. 4

e m p lo y e e s

A l l i n d u s t r i e s 2---------------------------B a n k i n g 2----------------------------------------------------C o m m e r c ia l a n d sto c k

1 0 0 .0

0. 1

1 9 .8
1 4 .7

7 8 .8

6. 2

0. 1

. 3

. 1

-

_

-

-

s a v i n g s b a n k s --------------------------------C r e d it a g e n c ie s o th e r th a n

1 0 0 .0

. 1

1 4 .4

81. 3

4. 2

-

-

-

-

-

-

“

"

b a n k s -------------------------------------------------------S e c u r it y a n d c o m m o d ity b r o k e r s ,
d e a le r s , e x c h a n g e s , a n d

1 0 0 .0

1. 3

2 2 .7

59. 3

16. 3

. 3

-

-

-

-

-

-

-

s e r v i c e s -------------------------------------------------I n s u r a n c e c a r r i e r s ------------------------------In s u r a n c e a g e n t s, b r o k e r s , a n d

1 0 0 .0

. 4

43. 6
62. 2

20. 4
22. 4

7. 6
. 7

0 .6

-

-

-

-

-

-

0. 1

. 2

22. 3
1 4 .4

5 .0

1 0 0 .0

-

-

-

-

s e r v i c e ----------------------------- -----------------------

1 0 0 .0

1 .4

1. 3
. 6

-

-

-

-

-

9 .4

22. 5
1 2 .4

-

1 0 0 .0

6 0 .0
42. 2

-

R e a l e s t a t e ------------------------------------------------

1 5 .0
3 4 .6

. 3

.5

1
2

E x c lu d e s n o n o ff ic e
In c lu d e s i n d u s t r ie s

3

L e ss

th an

0 .0 5

s a le s m e n .
not show n

s e p a r a t e ly .

p e rc e n t.

NOTE: Because of rounding, sums of individual items may not equal totals.




T a b l e 10. Di st ri bu ti on of E m p l o y e e s in F i n a n c e , I n s u r a n c e , a n d R e a l E s t a t e In d u s t r i e s b y H o l i d a y
E x p e n d i t u r e s in C e n t s P e r H o u r P a i d F o r , b y E m p l o y e e a n d I n d u s t r y G r o u p s , 1 1 9 6 1

P e r c e n t o f e m p l o y e e s in e s t a b l i s h m e n t s w i t h —

E m p lo y e e and in d u s t ry group

E m ployees
in a l l
estab lish m ents

No
holid ay
expenditures

H o l i d a y e x p e n d i t u r e s i in c e n t s p e r h o u r p a i d f o r o f—
Under
5

5
a nd
under
10

10

15

15

20

25

30

35

40

45

50

"
40

“
45

"

a nd

50

over

20

25

30

35

A ll em ployees
A ll in d u strie s 1
2-----------------------

100.0

3. 1

25. 3

53. 4

16.5

1. 3

0. 3

0. 1

0. 1

B a n k i n g 2--------------------------------------------C o m m e r c i a l and stoc k
s a v i n g s b a n k s -------------------------C r e d i t a g e n c ie s o th e r than
b a n k s -----------------------------------------------S e c u rity and c o m m o d ity b r o k e r s ,
d e a le r s , e x c h a n g e s , and
s e r v i c e s ____________________________
I n s u r a n c e c a r r i e r s -------------------------In su ra n c e a g e n ts , b r o k e r s , and
s e r v i c e --------------------------------------------R e a l e s t a t e -----------------------------------------

100.0

1.4

21.8

6 3.6

13. 2

-

-

-

-

-

-

-

-

100.0

1.5

22. 1

65. 7

10. 7

-

-

-

-

-

-

-

-

100. 0

1.8

29. 3

5 6.9

10.6

1. 4

-

-

-

-

-

-

100.0
100.0

17.4
14. 3

5 2.0
61.9

18.7
22. 6

7.7
.7

3.6

. l

-

-

-

-

100.0
100.0

1.8
12. 3

24. 4
45. 8

42.5
30. 3

27. 1
9.7

3. 2
1. 2

1. 1
"

_

.

_

_

(3 )

.6

“

-

“

A l l i n d u s t r i e s 2-----------------------

100.0

5 .9

5 .7

25. 2

33. 3

12.9

8. 7

4. 1

1.9

1. 1

. 3

. 1

.8

B a n k i n g 2--------------------------------------------C o m m e r c ia l and stock
s a v i n g s b a n k s __________________
C r e d i t a g e n c ie s o th e r than
b a n k s -----------------------------------------------S e c u rity and c o m m o d ity b r o k e r s ,
d e a l e r s , exchanges, and
s e r v i c e s ____________________________
I n s u r a n c e c a r r i e r s -------------------------In su ra n c e a g e n ts , b r o k e r s , and
s e r v i c e --------------------------------------------R e a l e s t a t e ___________________________

100.0

1. 3

1.0

20. 6

37. 1

16. 2

15.9

3.6

3. 3

0.6

0. 3

-

-

100.0

1.4

1. 1

22. 0

37. 2

16.6

16. 1

3. 5

1.6

.6

.2

-

-

100.0

2 .4

6.9

44. 0

3 0.0

11. 3

2. 4

.9

. 2

.5

-

-

1. 1

100.0
100.0

10. 2
.9

1. 2
3 .0

18.6
13. 3

23.6
48. 0

11. 3
16.4

11.8
7. 1

6. 1
6.8

3 .6
1. 2

3 .0
3 .0

7.5
(3 )

0. 9

2.2
.2

100.0
100.0

1.9
22. 2

1.9
13.5

31.4
26. 6

35.8
16.4

9.0
9. 3

7. 5
6. 7

7. 1
1.0

3 .9
.4

.5
1. 2

. 2
. 5

.5
2. 2

A l l i n d u s t r i e s 2-----------------------

100.0

3.5

41.0

48. 3

6.6

.5

. 1

B a n k i n g 2______________________________
C o m m e r c ia l and stock
s a v i n g s b a n k s --------------------------C r e d i t a g e n c ie s o th e r than
b a n k s ---------------------------------------------S e c u rity and co m m o d ity b r o k e r s ,
d e a l e r s , e x c h a n g e s , and

100.0

1.5

45. 2

51.0

2. 3

-

-

-

-

-

-

-

-

100.0

1.7

4 5.8

51. 1

1. 3

-

-

-

-

-

-

-

-

100.0

2. 4

52. 0

42.2

3. 6

-

-

-

-

-

-

-

100.0
100.0

.4
. 1

24.4
31. 6

50. 5
58.5

19.7
9 .6

4 .5
. 1

0 .6
-

-

-

-

-

100. 0
100.0

1.9
13.2

4 0.8
50. 4

4 5.6
31.5

11.0
3. 4

'

'

"

0. 8
0 .5

S u p e rv iso ry em ployees

N on su p erviso ry em ployees

I n s u r a n c e c a r r i e r s -------------------------I n su ra n c e a g e n ts, b r o k e r s , and
s e r v i c e --------------------------------------------R e a l e s t a t e -----------------------------------------

1
2
3

E x c lu d e s nonoffice s a le s m e n .
Includes in d u s trie s not shown s e p a ra te ly .
L e s s than 0 . 0 5 p e r c e n t .

NOTE:

B e c a u s e of r o u n d i n g ,




s u m s of in dividual i t e m s m a y n o t e q u a l totals,

-

-

_

. 5

_

1. 1

.5

“

Chapter

Total P r e m i u m

III.

P r e m i u m

Pay

Pay

N e a r l y three-fourths of the e m p l o y e e s in the finance, insurance, a nd real
estate industries w e r e in establishments w h i c h h a d expenditures for p r e m i u m p ay
in 1961.
Establishments e m p l o y i n g 73 percent of the w o r k e r s h a d expenditures
for overtime, w e e k e n d , and holiday w o r k p r e m i u m s .
H o w e v e r , only 15 percent
of the e m p l o y e e s w e r e in establishments with expenditures for shift differentials.
P r e m i u m p a y expenditures w e r e far m o r e c o m m o n for n o n s u p e r v i s o r y than for
supervisory e m p l o y e e s , the percentages being 75 percent for the f o r m e r and only
12 percent for the latter.
T h e proportions of w o r k e r s in establishments paying
p r e m i u m s varied considerably a m o n g the m a j o r industry groups studied— ranging
f r o m about 85 to 90 percent in insurance carriers, banking, and security a n d
c o m m o d i t y brokers, dealers, exchanges, a nd services; to about 45 percent in
insurance agents, brokers, a nd service a nd real estate. (See table 11.)

T h r o u g h o u t this report, expenditures for p r e m i u m p a y refer only to the
extra p a y for the practice; they do not include the regular pay. 4 P r e m i u m p a y ­
m e n t s accounted for 0. 7 percent of the gross payroll of all establishments in the
industries in this study, a nd consisted a l m o s t exclusively of daily overtime, w e e k l y
overtime, and w e e k e n d a n d holiday w o r k p r e m i u m s ; less than 0. 05 percent of the
gross payroll w a s accounted for by shift differentials.
Establishments w h i c h h a d
p r e m i u m p a y expenditures spent 0. 9 percent of the all-employee gross p a y for
th e m .
T h e all-establishment expenditures of 1.0 percent for n o n s u p e r v i s o r y e m ­
ployees w a s 10 t i m e s that for supervisors.
T h e figures in establishments with
expenditures w e r e considerably closer— 0.7 percent for supervisors a n d 1.3 p e r ­
cent for nons u p e r v i s o r y e m p l o y e e s .
P r e m i u m p a y for alm o s t all of the m a j o r
industry group s studied accounted for b e t w e e n 0.6 a n d 0.9 percent of gross pay,
except for security a nd c o m m o d i t y brokers, dealers, exchanges, a nd services
(1.1 percent) a nd insurance agents, brokers, and service (0.3 percent).
Ranking
of the industries differed w h e n the outlays w e r e c o m p u t e d only for establishments
with expenditures. O n this basis the highest expenditures o c c u r r e d in real estate—
1.9 percent— a nd the lowest in insurance carriers a nd insurance agents, brokers,
and service— both 0.6 percent.
(See chart 3 and table 12.)

F o r ev e r y hou r paid for by all establishments in these industries, an
a verage of 1.8 cents w a s e x p e n d e d on p r e m i u m p a y — 1.7 cents for overtime,
w e e k e n d , and holiday w o r k , and 0. 1 cent for late-shift w o r k .
T h e a v e r a g e for
total p r e m i u m p a y in all industries for all e m p l o y e e s in establishments with such
expenditures w a s 2. 4 cents; 3. 4 cents for supervisory a nd 2. 7 cents for n o n s u p e r ­
visory w o r k e r s .
F o r the m a j o r industry groups exam i n e d , p r e m i u m p a y r a n g e d
f r o m 4. 4 cents per h o u r paid for in security a nd c o m m o d i t y brokers, dealers,
exchanges, and services to 0. 7 cent in insurance agents, brokers, a n d service.
T h e relatively high expenditure per hour for the f o r m e r g r o u p reflects both a high
expenditure as a percent of gross pay, in c o m p a r i s o n with other industry groups,
as well as a high hourly earnings level.

4

See appendix A for a discussion of the concept of premium pay used in this bulletin.




20

21

Chart 3.

Employer Expenditures for P r e m i u m P a y Items in Finance, Insurance,
and Real Estate Industries, by E m p l o y e e Group, 1961

Cents per hour paid

P e r c e n t of g r o s s payroll

10
.

0.8

0.6

0.4

0.2

0.4

0

0.8

1.2

for

1.6

2.0

I
------ 1
------ 1
------ 1
------ 1
------f
DAILY A N D

WEEKLY OVERTIME

A N D

W E E K E N D

A N D

HOLIDAY W O R K

PREMIUMS

All e m p l o y e e s

Supervisory e m p l o y e e s

Nonsupervisory
2.0

employees

SHIFT DIFFERENTIALS

y

All e m p l o y e e s

o.i

Supervisory e m p l o y e e s

Nonsuper v i s o r y
employees

_]/ L e s s than 0.05 percent or 0.05 cent.
NOTE:




D a t a e x c l u d e nonoffice s a l e s m e n .

0.1

22

Relatively f e w e m p l o y e e s w e r e in establishments in w h i c h p r e m i u m p a y
a m o u n t e d to 5 cents per h o u r paid for or m o r e .
In only two of the m a j o r in­
dustry groups studied— security and c o m m o d i t y brokers, dealers, exchanges, and
services and real estate— w e r e as m a n y as half of the e m p l o y e e s w o r k i n g in e s ­
tablishments with p r e m i u m p a y expenditures in w h i c h expenditures w e r e as high as
2 cents p er h o u r paid for.
In the security and c o m m o d i t y brokers, dealers, e x ­
changes, and services group, w h e r e p r e m i u m p a y expenditures a v e r a g e d 5. 2 cents
per h our paid for in establishments with such expenditures, 38 percent of the
e m p l o y e e s w e r e in establishments with expenditures of 5 cents p er hou r or m o r e . 5
(See table 13.)
P r e m i u m P a y for Daily O v e r t i m e ,
W e e k e n d , and Holiday W o r k

Weekly Overtime,

Establishments e m p l o y i n g 73 percent of all w o r k e r s , excluding outside
salesmen, in the finance, insurance, and real estate industries in 1961, reported
expenditures for p r e m i u m p a y for daily overtime, w e e k l y overtime, w e e k e n d , and
holiday work; c o r r e s ponding figures w e r e 9 percent for supervisors and 75 p e r ­
cent for nonsu p e r v i s o r y e m p l o y e e s . Of those studied, the m a j o r industry groups
with the highest proportions of e m p l o y e e s in establishments with expenditures
w e r e insurance carriers— 89 percent, banking— 85 percent, a nd security a nd c o m ­
m o d i t y brokers, dealers, exchanges, and services— 8 4 percent.
T h o s e with the
lowest proportions w e r e i nsurance agents, brokers, a n d service— 45 percent a nd
real estate— 47 percent.
Without exception, overtime,
bined w e r e the p r e d o m i n a n t f o r m of
overtime, we e k e n d , and holiday w o r k
roll and in cents per h o u r paid for,
total p r e m i u m pay.

w e e k e n d , a nd holiday w o r k p r e m i u m s c o m ­
p r e m i u m pay.
Therefore, the figures for
p r e m i u m s , both as a percent of gross p a y ­
w e r e generally v e r y similar to those for

Differentials for Shift W o r k
R epor t s to this surv e y for 1961 s h o w that 15 percent of all e m p l o y e e s
in the finance, insurance, and real estate industries w e r e in establishments that
h a d expenditures for shift differentials.
T h e proportion w a s 15 percent for n o n ­
supervisory w o r k e r s , but only 4 percent of the supervisors w e r e in establishments
w h i c h paid shift differentials for this e m p l o y e e group.
A m o n g the m a j o r industry
groups studied, the proportion of w o r k e r s in establishments w h i c h actually h a d
shift differential p a y m e n t s r a n g e d f r o m 24 percent in insurance carriers and
23 percent in banking to 2 percent in credit agencies other than banks.
In the
insurance agents, brokers, and service group, no establishment in the s a m p l e
reported expenditures for shift differentials during 1961.
F o r finance, insurance, and real estate industries as a whole, e x p e n d ­
itures for late-shift p r e m i u m s accounted for less than 0. 05 percent of the gross
payroll of all establishments. T o o f e w establishments h a d expenditures for lateshift p r e m i u m s to p e r m i t publication of expenditure data for establishments with
expenditures.
T h e all-establishment figures for the supervisory and n o n s u p e r ­
visory groups w e r e also less than 0. 05 percent of gross pay.
F o r all e m p l o y e e s ,
p a y m e n t s w e r e 0. 1 percent in banking a nd less than 0. 05 percent for all other
m a j o r industry g roups for w h i c h separate data are available.
Shift differential expenditures, in cents p e r h o u r paid for in all establish­
m e nts, a v e r a g e d 0. 1 cent for ali industries.
T h e figure for supervisors w a s less
than 0. 05 cent a nd for n o n s u p e r v i s o r y e m p l o y e e s , 0. 1 cent.
T h e highest a v e r a g e
a m o n g the m a j o r industry groups, 0. 1 cent p e r hour, w a s found in banking and
in insurance carriers.
5
Intraindustry variations are not presented on a percent-of-gross-payroll basis because less than 10 percent of the
employees were in establishments with premium pay expenditures amounting to 2 percent of gross pay or more.




Table

11.

P e r c e n t of E m p l o y e e s i n F i n a n c e , I n s u r a n c e , a n d R e a l E s t a t e I n d u s t r y E s t a b l i s h m e n t s
W i t h E x p e n d i t u r e s for P r e m i u m P a y , b y E m p l o y e e a n d I n du st ry G r o u p s , 1 1961

E m p lo yee and in d u stry group

T otal
p rem iu m
pay

O vertim e,
w eek en d , and
h o lid ay w o rk
prem iu m s

S h ift
d iffe re n tials

A ll em ployees
A l l i n d u s t r i e s 1 ______________________________________________
2

73. 0

72 .9

14. 8

B a n k i n g 2 ______________________________________________________________
C o m m e r c i a l a n d s t o c k s a v i n g s b a n k s ______________________
C r e d i t a g e n c i e s o t h e r t h a n b a n k s _______________________________
S e c u rity and co m m o d ity b r o k e rs , d e a le rs , exch an g es,
a n d s e r v i c e s _______________________________________________________
I n s u r a n c e c a r r i e r s _________________________________________________
I n s u ra n c e ag en ts, b r o k e r s , and s e r v ic e
R e a l e s t a t e ___________________________________________________________

8 4 .8
86. 3
64. 9

8 4 .8
86. 3
65. 1

2 2 .8
2 4 .5
1.9

8 4 .4
90. 1
44. 7
46. 7

8 4 .4
89. 5
44. 7
47. 2

4. 0
24. 1
_
5 .8

S u p e rv iso ry em ployees
A l l i n d u s t r i e s 2 ______________________________________________
B a n k i n g 2 ______________________________________________________________
C o m m e r c i a l a n d s t o c k s a v i n g s b a n k s ______________________
C r e d i t a g e n c i e s o t h e r t h a n b a n k s _______________________________
S e c u rity and co m m o d ity b r o k e r s , d e a le rs , exch an g es,
a n d s e r v i c e s _______________________________________________________
I n s u r a n c e c a r r i e r s _________________________________________________
I n s u r a n c e a g e n t s , b r o k e r s , a n d s e r v i c e ______________________
R e a l e s t a t e ___________________________________________________________

9. 2

4 .4

14. 5
15. 3
11.5

11.6
12. 2
12. 3

3.5
3.8
. 5

9.5
2 0.6
3. 3
7.5

9 .5
9 .8
3. 3
8 .0

. 3
15.9
_

11.9

1. 1

N o n su p erviso ry em ployees
A l l i n d u s t r i e s 2 _______________________________________________
B a n k i n g 2 ______________________________________________________________
C o m m e r c i a l a n d s t o c k s a v i n g s b a n k s ______________________
C r e d i t a g e n c i e s o t h e r t h a n b a n k s _______________________________
S e c u rity and co m m o d ity b r o k e rs , d e a le rs , exch an g es,
a n d s e r v i c e s -----------------------------------------------------------------------------------I n s u r a n c e c a r r i e r s _________________________________________________
I n s u r a n c e a g e n t s , b r o k e r s , a n d s e r v i c e ______________________
R e a l e s t a t e ___________________________________________________________

1
2

75. 1

74. 9

15. 0

86. 2
8 7.7
6 6 .8

86. 2
87. 7
67. 1

23. 1
25. 0
1.9

88. 2
9 0 .4
44. 1
49. 6

88. 2
89 .8
44. 1
49. 3

4. 5
22. 3
_

6.8

E x c lu d e s no n o ffice s a le s m e n .
Includes in d u strie s not show n s e p a ra te ly .




00

T a b l e 12.

E m p l o y e r E x p e n d i t u r e s for P r e m i u m P a y in F i n a n c e , I n s u r a n c e , a n d R e a l E s t a t e In d u s t r i e s , Al l E s t a b l i s h m e n t s a n d
E s t a b l i s h m e n t s with E x p e n d i t u r e s , b y E m p l o y e e a n d In d u s t r y G r o u p s , 1 19 61

P e rc en t of gross payroll

E m p lo y e e and in d u s try
group

P ercen t of s traig h t-tim e p a y ro ll

E stablishm ents
A ll estab lish m en ts
w ith expendiA ll
t u r e s f o r 2—
Ove r t i m e ,
O vertim e,
weekend,
Shift
weekend,
T o t a l a n d h o l i - d i f f e r - T o t a l 3 a nd h o l i - T o t a l
d a y w o rk entials
day w ork
p rem ium s
p rem ium s

C ents p e r ho u r paid fo r

E stablishm ents
establishm ents
w ith exp e n d i­
A ll
t u r e s f o r 2—
O vertim e,
O vertim e,
weekend,
Shift
weekend,
and h o li- d i f f e r - T o tal 3 and h o l i ­ T o tal
d a y w o rk entials
day w ork
p rem ium s
p rem iu m s

C ents p e r plant m a n -h o u r

E stablishm ents
w ith expendi­
A ll
t u r e s f o r 2—
O vertim e,
Shift
weekend,
diff e r - T o ta l 3 and h o li ­ T o ta l
entials
day w ork
p rem iu m s

E stablishm ents
w ith expendi­
t u r e s f o r 2—
Ove r t i m e ,
Shift
weekend
d i f f e r ­ T o t a l 3 a nd h o l i entials
day w o rk
prem ium s

estab lish m en ts

estab lish m en ts

Ove rtim e ,
weekend,
and h o l i ­
day w ork
prem ium s

O vertim e,
weekend,
and h o li ­
day w ork
p rem iu m s

A ll em ployees
A l l i n d u s t r i e s ! ________

0.7

0. 7

(5 >

0.9

0.9

0.7

0.7

(5 )

0.9

0.9

1.8

1.7

0. 1

2.4

2. 3

1.9

1.8

0. 1

2. 6

2. 5

B a n k i n g 4______________________
C o m m e r c ia l and s to c k
s a v i n g s b a n k s __________
C re d it ag e n c ie s o th e r than
b a n k s ________________________
S e c u r i t y and c o m m o d ity
b ro k e rs , d e a le rs, e x ­
c h a n g e s , a n d s e r v i c e s ___
I n s u r a n c e c a r r i e r s _________
Insu rance agents, b r o k e r s ,
a n d s e r v i c e _________________
R e a l e s t a t e ___________________

0.8

0.7

0. 1

0.9

0.9

0.8

0.8

0. 1

1. 0

0.9

1.9

1.8

0. 1

2. 3

2. 1

2. 1

2.0

0. 2

2. 5

2. 3

.8

.8

. 1

.9

.9

.8

.8

. 1

.9

.9

1.9

1.8

.2

2. 2

2. 0

2. 1

2. 0

.2

2. 5

2. 3

.6

.6

(5 )

.9

.9

.6

.6

(5 )

.9

.9

1. 6

1.6

(5 )

2. 3

2. 3

1.7

1.7

(5 )

2. 5

2. 5

1. 1
.6

1. 1
.5

O
(5 )

1.3
.6

1.3
.6

1. 1
.6

1. 1
.5

1. 3
.6

1.3
.6

4.4
1.4

4 .4
1.4

(5 )
. 1

5. 2
1. 6

5.2
1.5

4 .8
1.6

4.7
1. 5

(5 )
. 1

5 .6
1.7

5 .6
1.7

. 3
.9

. 3
.9

-

.6
1.9

.6
1.8

. 3
.9

. 3
.9

.6
1.9

.6
1.9

.7
2. 1

.7
2. 0

_

(5 )

(5 )

1.6
4. 2

1.6
4. 0

.8
2. 2

.8
2. 1

(5 )

1. 7
4.4

1.7
4. 3

(5 )

3. 7

4 .6

(5 )

2. 1

2.4
2. 1

0

(5 )
-

(5 )

S u p e rv iso ry em ployees
A l l i n d u s t r i e s 4________

. 1

. 1

(5 )

.7

.9

. 1

. 1

.7

.9

.4

.4

(5 )

3 .4

4. 2

.5

.4

B a n k i n g 4 _____________________
C o m m e r c ia l and stock
s a v i n g s b a n k s __________
C re d it age n c ie s o th e r than
b a n k s ________________________
S e c u r i t y and c o m m o d ity
b rok ers, d ealers, ex­
c h a n g e s , a n d s e r v i c e s ___
I n s u r a n c e c a r r i e r s --------------In su rance agents, b r o k e r s ,
a nd s e r v i c e -------------------------R e a l e s t a t e -----------------------------

0. 1

0. 1

(5 )

0.4

0.4

0. 1

0. 1

(5 )

0.4

0.4

0. 3

0. 2

(5 )

1.9

2. 2

0. 3

0. 3

. 1

(5 )

(5 )

. 3

.4

. 1

(5 )

(5 )

. 3

.4

. 3

. 2

(5 )

1.7

1.9

. 3

. 3

(5 )

1.9

. 1

. 1

(5 )

.6

.6

. 1

. 1

(5 )

.6

.6

.4

.4

(5 )

3. 1

2 .9

.4

.4

(5 )

3 .4

3. 2

. 1
. 1

. 1
. 1

(J)
(5 )

1.7
.6

1.7
1. 1

. 1
. 1

. 1
. 1

0
(5 )

1.7
.6

1.7
1.2

1. 2
.5

1. 2
.5

(5 )
(5 )

11.5
2.7

11.5
5 .4

1. 2
.6

1.2
.6

(I)
(5 )

12. 5
3. 0

12.5
6. 0

(5 )
. 1

(5 )
. 1

(5 )

.8
1.9

.8
1.7

(5 )
. 1

(5 )
. 1

(5 )

.9
1.9

.9
1.8

. 1
.7

. 1
.7

(5 )

4. 2
7. 5

4. 2
7. 0

.2
.8

.2
.8

(5 )

4. 6
8. 1

4. 6
7.5

A l l i n d u s t r i e s 4------------

1. 0

1. 0

0

1. 3

1.3

1.0

1. 0

(5 )

1. 3

1.3

2. 1

2. 0

. 1

2 .7

2.6

2. 2

2.2

. i

2 .9

2 .8

B a n k i n g 4 ------------------- ----------C o m m e r c ia l and sto c k
s a v i n g s b a n k s __________
C r e d i t a g e n c ie s o t h e r th an
b a n k s ------------------------------------S e c u r i t y and c o m m o d ity
b ro k ers, dealers, ex ­
c h a n g e s , a n d s e r v i c e s ----I n s u r a n c e c a r r i e r s _________
Insu rance agents, b r o k e r s ,
a n d s e r v i c e _________________
R e a l e s t a t e -----------------------------

1.2

1. 1

0. 1

1.4

1.3

1.2

1. 1

0. 1

1.4

1. 3

2. 3

2. 1

0. 2

2 .6

2.4

2 .5

2. 3

0. 2

2.9

2. 6

1.2

1. 1

. 1

1.4

1.3

1.3

1.2

. 1

1.4

1. 3

2. 3

2. 1

.2

2 .6

2.4

2.5

2. 3

.2

2. 8

2. 6

1.0

1.0

(5 )

1.4

1.4

1. 0

1.0

(5 )

1. 5

1.4

2. 0

2. 0

(5 )

2.8

2 .8

2. 1

2. 1

(5 )

3. 0

3. 0

1.4
.8

1.4
.8

0

1. 6
.9

1.6
.9

1.5
.8

1.5
.8

0
(5 )

1.7
.9

1.7
.9

5. 0
1.6

5. 0
1.6

(5 )
. 1

5. 6
1.8

5.6
1.8

5.4
1.8

5 .3
1.7

(5 )
. 1

6. 1
2. 0

6. 0
1.9

.4
1. 2

.4
1. 1

.9
2. 2

.9
2. 1

.4
1.2

.4
1.2

(5 )

.9
2. 2

.9
2. 2

.9
2. 3

.9
2.2

(5 )

2 .0
4.4

2. 0
4. 3

1.0
2.4

1. 0
2. 3

(5 )

2. 1
4. 6

2. 1
4. 5

(5 ) --

-

_

N on su pervisory em ployees

1
2
3
4
5

(5 )
(5 )

.

_

E xcludes non office s a le s m e n .
E x p e n d i t u r e d a t a f o r s h i f t d i f f e r e n t i a l s i n e s t a b l i s h m e n t s w i t h e x p e n d i t u r e s f o r t h i s i t e m do n o t m e e t p u b l i c a t i o n c r i t e r i a .
T h e d e t a i l d o e s n o t a d d to t h e t o t a l b e c a u s e a d i f f e r e n t p a y r o l l o r h o u r s b a s e w a s u s e d f o r e a c h i t e m a n d b e c a u s e e x p e n d i t u r e s f o r s h i f t d i f f e r e n t i a l s a r e n o t s h o w n s e p a r a t e l y .
Includes in d u s t r ie s not show n s e p a r a t e l y .
L e s s t h a n 0. 0 5 p e r c e n t o r 0 . 0 5 c e n t .

NOTE:

B e c a u s e of rou nding ,




s u m s of individual ite m s m a y not equal totals

T a b l e 13.

Di st ri b u t i o n of E m p l o y e e s in F i n a n c e , I n s u r a n c e , a n d R e a l E s t a t e I n d u s t r i e s b y P r e m i u m P a y E x p e n d i t u r e s
in C e n t s P e r H o u r P a i d F o r , b y E m p l o y e e a n d I n d u s t r y G r o u p s , 1 1 9 6 1

P e r c e n t o f e m p l o y e e s in e s t a b l i s h m e n t s w i t h —

E m p lo y e e and i n d u s t ry group

E m ployees
in a ll
establishm ents

P r e m i u m p a y e x p e n d i t u r e s in c e n t s p e r h o u r p a i d f o r o f —
No p r e m i u m
pay
expenditures

Under
1

1
a nd
under
2

2

3

4

5
and

3

4

5

over

A ll em ployees
A l l i n d u s t r i e s 2 _____________________________
B a n k i n g 2 ____________ ___________
C o m m e r c i a l a n d s t o c k s a v i n g s b a n k s _______
C r e d i t a g e n c i e s o t h e r t h a n b a n k s _______________
S e c u r i t y and c o m m o d i t y b r o k e r s , d e a l e r s ,
e x c h a n g e s , a n d s e r v i c e s _______________________
I n s u r a n c e c a r r i e r s ________________________________
I n s u r a n c e a g e n t s , b r o k e r s , a n d s e r v i c e ______
R e a l e s t a t e _________________________________________

100. 0

27. 0

23. 5

21. 2

9.5

6. 3

3 .6

8.6

100. 0
100. 0
100. 0

15. 2
13. 7
35. 1

25. 1
26. 1
23. 2

19.7
19.9
17. 1

15. 3
15. 3
12. 1

11. 6
12.7
2 .4

4 .9
4. 0
5. 4

8. 4
8. 2
4. 7

100.
100.
100.
100.

0
0
0
0

15. 6
9.9
55. 3
53. 3

9 .4
33. 2
24.4
11. 0

7. 3
40. 0
10. 0
4.4

6. 5
6 .6
1. 9
8.6

10.
4.
3.
4.

5
8
1
1

12.
1.
1.
4.

6
0
4
1

3 38 . 2
4. 5
3.9
14.4

S u p e rv iso ry em ployees
A l l i n d u s t r i e s 2 _____________________________
B a n k i n g 2 ____________________________________________
C o m m e r c i a l a n d s t o c k s a v i n g s b a n k s _______
C r e d i t a g e n c i e s o t h e r t h a n b a n k s _______________
S e c u r i t y and c o m m o d ity b r o k e r s , d e a le r s ,
e x c h a n g e s , a nd s e r v i c e s _______________________
I n s u r a n c e c a r r i e r s ________________________________
I n s u r a n c e a g e n t s , b r o k e r s , a n d s e r v i c e _______
R e a l e s t a t e _________________________________________

100. 0

88. 1

4. 7

2.9

1. 3

.6

1. 0

1. 7

100. 0
100. 0
100. 0

85. 5
84.7
88.5

4. 1
4. 5
2. 1

5. 8
6.4
3.2

2. 5
2. 5
2. 5

0. 6
.6
1. 8

0. 3
. 3
. 8

1. 2
1. 0
1. 0

100.
100.
100.
100.

0
0
0
0

90. 5
79. 4
96.7
9 2.5

. 3
2 .9
.8
.6

.2
. 1
1.4

1. 7
.6
_

.
2.
1.
1.

6.7
1. 0
.9
2.6

100. 0

24. 9

20. 1

21.6

1 1.6

6. 8

3.9

11. 1

100. 0
100. 0
100. 0

13. 8
12. 3
33.2

22. 0
22. 8
16. 8

19. 1
19.7
17.6

15. 5
15. 9
17. 4

12. 5
12. 7
2. 5

5 .4
4. 9
4.2

11.6
11. 6
8. 3

11. 8
9.6
55.9
50.4

8. 7
27. 0
19.9
11. 8

7. 8
39. 8
10. 3
4 .6

5. 0
11. 5
3.6
8.6

14. 5
5 .4
3. 1
3. 6

6.
1.
2.
5.

.
14.
.
1.

1
1
7
6

-

5
0
0
2

N on su pervisory em ployees
A l l i n d u s t r i e s 2 ______________________________
B a n k i n g 2 ____________________________________________
C o m m e r c i a l a n d s t o c k s a v i n g s b a n k s _______
C r e d i t a g e n c i e s o t h e r t h a n b a n k s _______________
S e c u r i t y and c o m m o d i ty b r o k e r s , d e a l e r s ,
e x c h a n g e s , a n d s e r v i c e s _______________________
I n s u r a n c e c a r r i e r s ________________________________
I n s u r a n c e a g e n t s , b r o k e r s , a n d s e r v i c e __
R e a l e s t a t e _________________________________________

100.
100.
100.
100.

0
0
0
0

'

9
8
0
3

4 45. 2
5. 0
5.2
15.5

1 E x c lu d e s nonoffice s a le s m e n .
2 Includes in d u s trie s not shown s e p a ra te ly .
3 E m p l o y e e s w e r e d i s t r i b u t e d a s f o l l o w s : 1 5 . 6 p e r c e n t at 5 to 6 c e n t s ; 9. 3 p e r c e n t a t 6 to 8 c e n t s ; 5 . 2 p e r c e n t a t 8 t o 1 0 c e n t s ; a n d 8 . 1 p e r c e n t a t 10 c e n t s a n d o v e r .
4 E m p l o y e e s w e r e d i s t r i b u t e d a s f o l l o w s : 8. 2 p e r c e n t at 5 to 6 c e n t s ; 1 2 . 6 p e r c e n t a t 6 to 7 c e n t s ; 6 . 8 p e r c e n t a t 7 to 8 c e n t s ; 6 . 9 p e r c e n t a t 8 to 9 c e n t s ; 3. 9 p e r c e n t a t 9 to 1 1 c e n t s ; and
6. 8 p e r c e n t at 11 cen ts and o v e r .
NOTE:

B e c a u se of rounding,




sum s of individual item s m ay not equal to ta ls.

to
Cn

Table

14.

P e r c e n t of e m p l o y e e s
Employees
Employee

ON

D i s t r i b u t i o n o f E m p l o y e e s in F i n a n c e , I n s u r a n c e , a n d R e a l E s t a t e I n d u s t r i e s b y O v e r t i m e , W e e k e n d , a n d H o l i d a y W o r k
P r e m i u m E x p e n d i t u r e s in C e n t s P e r H o u r P a i d F o r , b y E m p l o y e e a n d I n d u s t r y G r o u p s , 1 1 9 6 1

a nd industry g roup
e stablishments

N o overtime,

Overtime,

weekend,
or h o l i d a y

weekend,
1
and
under

in e s t a b l i s h m e n t s w i t h —

an d holiday w o r k premiuim

1

e x p e n d i t u r e s in c e n t s p e r h o u r p a i d f o r of—
3

4

5

work
premium
expenditures

Under

100. 0

27. 1

25.6

20. 0

B sinking 2 ___________________________________________
C o m m e r c i a l a n d s t o c k s a v i n g s b a n k s -------

100. 0
100. 0

15.2

C r e d i t a g e n c i e s o t h e r t h a n b a n k s ________________
Security a n d c o m m o d i t y b r o k e r s , dealers,

13.7
34. 9

21. 0
21. 3

100. 0

26.6
27. 7
24. 3

16. 3

e x c h a n g e s , a n d s e r v i c e s _ _____________________
I n s u r a n c e c a r r i e r s . ------------------------------I n s u r a n c e a g e n t s , b r o k e r s , a n d s e r v i c e -------

100.
1 00.
100.
100.

0
0
0
0

15.6
10. 5
55. 3
52. 8

9.4
38. 0
24. 4
11.7

7. 3
35.5
10. 0
4.4

A l l i n d u s t r i e s 2 _______________________________

100. 0

90. 8

2. 5

2. 3

1. 3

.6

1. 0

1.6

B a n k i n g 2 --------------- ------- -------------------C o m m e r c i a l a n d s t o c k s a v i n g s b a n k s _______

100. 0
100. 0
100. 0

88. 4
87. 8
87. 7

3. 3
3. 6

3. 8
4. 2

0.6

0. 3

1. 2

3.2

.6
1. 8

.3

2.9

2. 5
2. 5
2. 5

.8

1. 0
1. 0

e x c h a n g e s , a n d s e r v i c e s -----------------------I n s u r a n c e c a r r i e r s -----------------------------I n s u r a n c e a g e n t s , b r o k e r s , a n d s e r v i c e -------

100. 0
100. 0
100. 0

2.9
.8
.6

1. 7
.6

.5
2. 0

6. 7
1. 0

1.4

-

100. 0

.1
3. 2
.7
2. 1

.2
.1

R e a l e s t a t e ----------------

90. 5
90. 2
96.7
92. 0

"

1. 0
1. 2

.9
2. 6

100. 0

25. 1

21. 8

20.4

11. 3

7. 3

4. 0

10. 1

13. 8
12. 3

23. 4
24. 3

18. 9
19.5

15. 5

14. 2

6. 3

16. 0

14.6

32.9

17. 1

17. 1

2. 5

5.9
4. 2

7.9
7. 5

17. 9

11. 8
10. 2

8.7

55. 9
50. 7

19. 9
11.9

10. 3
4.6

5. 0
10.6
3. 6
8. 7

14. 7

30. 9

7. 8
36.4

1

2

and
4

5

over

9.2

6. 7

3.4

7. 8

14. 2

13.6

3. 5

14. 2
12. 1

14.5
2. 4

3. 0
5.4

5.9
5. 6
4. 7

8. 2

10. 1
4. 3

11.4

6. 1
1.9
8.6

3. 1
4.6

3

All e m p l o y e e s
A l l i n d u s t r i e s 2 _______________________________

R e a l estate

_____________________________

__________

338. 1
4. 5

1. 0
1.4
5. 0

3.9
12.9

Supervisory employees

C r e d i t a g e n c i e s o t h e r t h a n b a n k s ________________
Security a n d c o m m o d i t y b r o k e r s , dealers,

-------------------------

.3

Nonsupervisory employees
A l l i n d u s t r i e s 2 ___ _________________________
B a n k i n g 2 ---------------------------------------------C o m m e r c i a l a n d s t o c k s a v i n g s b a n k s ------C r e d i t a g e n c i e s o t h e r t h a n b a n k s ________________
Security a n d c o m m o d i t y b r o k e r s , dealers,

1 00. 0
100. 0
100. 0

a n d s e r v i c e s -------------------------

100. 0

I n s u r a n c e c a r r i e r s ---------------------------------I n s u r a n c e a g e n t s , b r o k e r s , a n d s e r v i c e -------

1 00. 0
100. 0

R e a l e s t a t e -------------------------------------------

100. 0

exchanges,

1
2
3
4

5. 2
3. 1
4. 2

6.
1.
2.
4.

E x c l u d e s nonoffice s a l e s m e n .
Includes industries not s h o w n separately.
E m p l o y e e s w e r e d i stributed as follows:
15. 6 p e r c e n t at 5 to 6 ce n t s ; 9. 2 p e r c e n t at 6 to 8 c e n t s ; 5. 2 p e r c e n t at 8 to 1 0 c e n t s ; a n d 8. 1 p e r c e n t at 10 c e n t s a n d o v e r .
E m p l o y e e s w e r e distributed as follows:
8. 2 p e r c e n t at 5 to 6 c e n t s ; 12. 6 p e r c e n t at 6 to 7 c e n t s ; 6. 8 p e r c e n t at 7 to 8 c e n t s ; 6. 9 p e r c e n t at 8 to 9 c e n t s ; 3. 8 p e r c e n t

6. 8 p e r c e n t at 11 c e n t s a n d o v e r .
NOTE:

Because

of r o u n d i n g ,




sums

o f i n d i v i d u a l i t e m s m a y n o t e q u a l totals.

8. 3
445. 1

9
8
0
8

5. 0
5. 2
15. 1

at

9

to

11 c e n t s ; a n d

Chapter IV. Christmas, Yearend, and Other Irregular Bonuses

In finance, insurance, and real estate industries, in 1961, 69 percent of
the w o rkers w e r e in establishments which had expenditures for Christmas, yearend, and other irregular bonuses. F o r all industries combined, the proportions,
by employee group, w e r e approximately the s a m e as the all-employee figure—
62 percent for supervisors and 65 percent for nonsupervisory employees.
How­
ever, the proportion w a s substantially higher for nonsupervisory than for super­
visory employees in two of the m a j o r industry groups exami n e d — security and
c o m m o d i t y brokers, dealers, exchanges, and services (97 percent for the fo r m e r
and 7 4 percent for the latter) and insurance agents, brokers, and service (66 p e r ­
cent and 50 percent, respectively). B y m a j o r industry group studied, the figures
for all employees ranged f r o m 95 percent in security and c o m m o d i t y brokers,
dealers, exchanges, and services to 54 percent in real estate.
(See table 15. )
Expenditures for Christmas, yearend, and other irregular bonuses, which
constituted 3.5 percent of gross payroll for all employees combined, a m o u n t e d to
5.4 percent of gross payroll for supervisory employees and 2.6 percent for n o n ­
supervisory workers. In establishments with expenditures for such bonuses, the
figures w e r e 5.0 percent for all employees, 8. 3 percent for supervisory e m ­
ployees, and 3. 9 percent for nonsupervisory employees.
Expenditures for b o ­
nuses w e r e particularly high in the security and c o m m o d i t y brokers, dealers, e x ­
changes, and services group, where, on an all-establishment basis, they amo u n t e d
to 9. 1 percent of gross payroll for all employees, 13.0 percent for supervisors,
and 7.6 percent for nonsupervisory workers, and on an establishment-withexpenditures basis to 9.4, 16.5, and 7.8 percent, respectively. (See table 16.)
Bonus expenditures for all employees a m o u n t e d to 9. 0 cents per hour
paid for in all establishments and 13. 1 cents in establishments with expenditures
for bonuses.
T h e figures for supervisors w e r e 27.0 cents for all establishments
and 43. 1 cents for those which had expenditures for bonuses; for nonsupervisory
workers, the figures w e r e 5. 3 cents for all establishments and 8. 1 cents for
those with expenditures. A m o n g the industry groups for which separate averages
w e r e determined, by far the highest w e r e in the security and c o m m o d i t y brokers,
dealers, exchanges, and services group, w h e r e on an all-establishment basis,
expenditures w e r e 37. 5 cents per hour paid for in the case of all employees,
103.8 cents per hour for supervisors, and 26.1 cents for nonsupervisory e m ­
ployees.
In this industry group, averages for establishments with expenditures
w e r e 39.3 cents per hour paid for all employees, 139.7 cents for supervisors,
and 27.0 cents for nonsupervisory employees.
Expenditures for Christmas, yearend, and other irregular bonuses ranged
f r o m under 2 percent of gross pay in s o m e establishments to 16 percent and over
in others in the finance, insurance, -and real estate industries. Nearly 30 percent
of all employees w e r e in establishments which spent under 2 percent of the gross
payroll for bonuses, and m o r e than half w e r e in establishments expending under
6
percent.
Figures for the nonsupervisory group w e r e close to those for all
employees, but only 22 percent of the supervisors w e r e in establishments which
spent under 2 percent of gross payroll for bonuses for this group, and about twofifths of the supervisors w e r e in establishments which spent under 6 percent.
At




27

28

the other extreme, 8 percent of the supervisors w e r e in establishments with e x ­
penditures for these employees of 16 percent or m o r e .
In the security and c o m ­
modity brokers, dealers, exchanges, and services group, which had the highest
relative expenditures of any of the groups studied, 14 percent of all employees,
2 9 percent of the supervisors, and 9 percent of the nonsupervisory w o rkers w e r e
in establishments which had bonus expenditures of 16 percent and over.
In c o n ­
trast, m o r e than two-fifths of the employees in insurance carriers, which had
the lowest percent-of-gross-payroll outlay found, w e r e in establishments having
expenditures for Christmas, yearend, and other irregular bonuses of under 2 p e r ­
cent.
(See table 17.)




Table

15.

P e r c e n t of E m p l o y e e s

in F i n a n c e ,

Insurance,

Table

a n d R e a l Estate Industry Establis h m e n t s W i t h Expenditures
for C h r i s t m a s , Y e a r e n d , a n d O t h e r I r r e g u l a r B o n u s e s ,
b y E m p l o y e e a n d I n d u s t r y G r o u p s , 1 1961

Employee

a nd industry group

Total
irregular
bonuses

A l l i n d u s t r i e s 1 _______________
2

Employee

68. 7
79. 9

C o m m e r c i a l a n d stock savings
b a n k s ______________________________
Credit agencies other than
b a n k s _________________________________

a n d industry gr o u p

E x p e n d i t u r e s fo r C h r i s t m a s ,
Insurance,

Yearend,

a n d R e a l Est a t e Industries,

P e r c e n t of
Cents per hour
P e r c e n t of
C e n t s p e r plant
straight-time payroll
g r o s s payroll
p a i d for
man-hour
Establish­
Establish­
Establish­
Establish­
All
All
All
Al l
m e n t s with
m e n t s witl
m e n t s with
m e n t s with
establish­
establish­
establish­
establish­
expendi­
expendi­
expendi­
expendi­
ments
ments
ments
ments
tures
tures
tures
tures

All e m p l o y e e s
All i ndustries 2

__

3. 5

5. 0

3. 5

5. 0

9. 0

13. 1

9. 8

4. 8

6. 0

4. 8

6. 0

11. 4

14. 3

12. 5

15.6

C o m m e r c i a l a n d stock savings
b a n k s _____________________________
Credit agencies other than

4. 8

6.0

4. 9

6. 1

11. 5

14. 2

12. 6

15. 6

80. 8

B a n k i n g 2 ___

69. 1

Security and c o m m o d i t y brokers,
dealers, e x c h a n g e s , a n d

Employer

All E s t a b l i s h m e n t s a n d E s t a b l i s h m e n t s W i t h E x p e n d i t u r e s ,
b y E m p l o y e e a n d Industry G r o u p s , 1 1961

All e m p l o y e e s

B a n k i n g 2 ______________________________

16.

a n d O t h e r I r r e g u l a r B o n u s e s in F i n a n c e ,

_________________________

14. 2

b a n k s _________________________________
95. 2
64. 5

s e r v i c e ______________________________
R e a l e s t a t e ___________________________

66. 9
54. 0

Supervisor

3. 7

5. 4

3. 7

5. 4

9. 5

13. 8

10. 2

14. 8

Security and c o m m o d i t y brokers,
dealers, exc h a n g e s , a n d
s e r v i c e s _____________________________
I n s u r a n c e c a r r i e r s _ __

9. 1
1. 2

9. 4

9. 2
1. 3

9. 5

37. 5
3. 2

39. 3
4. 9

40. 5
3. 5

42.6
5. 4

I n s u r a n c e agents, b r o k e r s , a n d
s e r v i c e ______________________________

3. 7

5. 2
5. 5

5. 5

10. 3
7. 0

15.6

3. 0

3. 7
3. 0

5. 2

R e a l e s t a t e ---------------------------

s e r v i c e s _____________________________
I n s u r a n c e c a r r i e r s __________________
I n s u r a n c e agents, b r o k e r s , a n d

12. 9

11. 2
7. 4

16. 8
13. 7

5.4

8. 3

5. 4

8. 3

27. 0

43. 1

29. 5

47. 1

5. 8

7. 5

5.9

7. 5

28. 9

36. 8

31.9

40.6

6. 0

7.6

6. 0

7.6

29. 1

36. 8

32. 1

40.6

5. 4

7. 8

5. 4

7. 8

24. 6

36. 4

26. 6

39. 4

13. 0

16. 5
2. 5

13. 0
1.6

16. 5
2. 5

103.8

139.7
12. 7

112. 4

7. 6

152. 2
14. 0

10. 2
14. 4

5. 7
7. 2

10. 2
14. 4

30. 5

62. 3

33. 1

36. 2

81. 9

38. 5

1.9

1.9

Supervisory employees
A l l i n d u s t r i e s 2 _______________

62. 1
All industries 2

B a n k i n g 2 ______________________________
C o m m e r c i a l a nd stock savings
b a n k s _____________________________
Credit agencies other than
b a n k s _________________________________
Security and c o m m o d i t y brokers,
dealers, e x c h a n g e s , an d
s e r v i c e s _____________________________
I n s u r a n c e c a r r i e r s __________________
I n s u r a n c e agents, b r o k e r s , a n d
s e r v i c e ______________________________
R e a l e s t a t e ____________________________

78. 8
Banking 2 _
79. 3
67. 5

74. 4
59. 5
49. 7
44. 0

Commercial
b a n k s ____

and stock savings

Credit agencies other than
b a n k s _________________________________
Security a n d c o m m o d i t y b r okers,
dealers, exc h a n g e s , a n d
s e r v i c e s _____________________________
I n s u r a n c e c a r r i e r s __________________
I n s u r a n c e agents, b r o k e r s , a n d

1. 6

s e r v i c e ______________________________

5. 7

R e a l es t a t e ___________________________

7. 2

8. 4

67.6
88. 1

Nonsupervisory employees
Nonsupervisory employees
A l l i n d u s t r i e s 2 ____________________

65. 3

B a n k i n g 2 ___________________________________

75.4

Commercial

a n d stock savings

b a n k s ---------------------------------Credit agencies other them
b a n k s ______________________________________

76. 3

A l l i n d u s t r i e s 2 __

Commercial
banks

3. 9

2.6

4. 0

5. 3

8. 1

5. 8

8. 8

5. 4

4. 1

5. 5

7. 6

10. 1

8. 3

11. 0

4. 1

5. 4

4. 2

5. 5

7.6

9. 9

8. 3

10. 9

2. 3

3. 7

2.4

3.7

4.6

6.9

4.9

7.4

7. 6

7. 8
1. 8

7. 7

7.9
1. 8

26. 1
2. 2

27. 0
3.6

28. 2
2. 4

29.2
4. 0

3. 2
2. 7

2. 2

3. 3

4. 6

7. 0

5. 0

7. 6

1. 3

2. 7

2. 5

5. 0

2.7

5. 3

a n d stock savings

66. 5

Credit agencies other than
b a n k s _________________________________

Security and c o m m o d i t y brokers,
dealers, e x c h a n g e s , an d

2. 6
4. 1

B a n k i n g 2 ___

96. 5
61.0

Security a n d c o m m o d i t y brokers,
dealers, e x c h a n g e s , and
s e r v i c e s _____________________________
I n s u r a n c e c a r r i e r s _____

I n s u r a n c e agents, b r o k e r s , a n d
s e r v i c e _______ ____________________________

66. 2

I n s u r a n c e agents, b r o k e r s , a n d
s e r v i c e ______________________________

2. 2

R e a l e s t a t e ________________________________

49. 3

R e a l e s t a t e ____________________________

1. 3

s e r v i c e s ________ i_________________________
I n s u r a n c e c a r r i e r s _______________________

1

E x c l u d e s nonoffice s a l e s m e n .

2

Includes

industries not s h o w n separately.




1
2

1. 1

1. 1

E x c l u d e s nonoffice s a l e s m e n .
Includes industries not s h o w n separately.

t
o

VO

Table

17.
D i s t r i b u t i o n of E m p l o y e e s in F i n a n c e , I n s u r a n c e , a n d R e a l E s t a t e I n d u s t r i e s b y C h r i s t m a s , Y e a r e n d ,
I r r e g u l a r B o n u s E x p e n d i t u r e s a s a P e r c e n t of G r o s s P a y r o l l , b y E m p l o y e e a n d I n d u s t r y G r o u p s , 1 1 9 6 1

OJ

and Other

o

P e r c e n t of e m p l o y e e s in e s t a b l i s h m e n t s w i t h —
Employees
in all
establish­
ments

No

Christmas,

other irregular
bonus ex­
penditures

Christmas,
2

yearend,
4

a n d other irregular b o n u s
6

e x p e n d i t u r e s a s a p e r c e n t of g r o s s p a y r o l l of—
8

10

'

12

r

14

16

and

Under
2

under
4

and
6

8

10

12

14

16

over

All e m p l o y e e s
1 0 0 .0

31. 3

29. 3

14.0

9.6

5.8

2 .8

1.7

1. 4

0 .8

3.0

1 0 0 .0

A l l i n d u s t r i e s 2_________________

20.1

18. 9

12.9

17.8

13.6

5. 5

2.1

2 .2

1.5

5.5

C o m m e r c i a l a n d stock savings
1 0 0 .0
Credit agenc i e s other than
b a n k s ----------------------------------

19.2

20. 1

13.6

16.9

1 2 .6

5. 9

2 .2

2.1

1.6

6 .0

1 0 0 .0

30.9

21.1

18.6

1 2 .0

5.9

.8

6 .2

2.1

-

2.4

100.0
1 0 0 .0

4. 8

12. 3

7. 3

23. 9

15. 5

5.0

8 .4
1 .2

4. 7
.5

6.9

41.0

11. 4
1 .2

6 .4

35.5

13.9
.1

4. 3
4. 1

6.7

1 .2

2.5

2. 3

1. 4

1 .6

.1

.3

1 .0
.7

4.5
2.4

Security a n d c o m m o d i t y brokers,
dealers,

exchanges,

and

I n s u r a n c e c a r r i e r s __________________
I n s u r a n c e agents, br o k e r s , a n d
s e r v i c e ________________________________

1 0 0 .0

33. 1

2 9 .0

15.6

R e a l e s t a t e -----------------------------

1 0 0 .0

46.0

33.0

10.6

Supervisory employees
1 0 0 .0

37.9

22.1

1 0 .0

7.8

5.8

3.8

1 .8

1.9

1.5

7. 6

1 00.0

2 1 .2

17.5

1 0.6

12. 7

11. 4

9.2

2 .8

3.4

1.4

9.7

1 0 0 .0

20.7

18.9

10. 3

13.2

1 0 .6

8.1

3. 0

3. 7

,9

10.9

1 0 0 .0

32.5

15.6

16.9

1 2 .8

7.0

2 .2

2. 3

.7

2.9

7.0

1 0 0 .0
1 0 0 .0

25.6

6 .5

3. 4
3. 4

4. 5
2 .8

2.1
2. 4

3 28. 8

1. 3

4.4
.4

6 .5

40. 4

8.5
8 .0

9.7

40.5

s e r v i c e -------------------------------

1 00.0

50. 3

18. 3

6 .2

2. 3

2.7

1 .8

3.4

2 .2

1 .8

11.1

R e a l e s t a t e -----------------------------

1 0 0 .0

56.0

16.2

8.1

5.7

3.5

1. 4

.7

.3

1. 3

6.9

A l l i n d u s t r i e s 2----------------B a n k i n g 2-------------------

1

-----------

C o m m e r c i a l a n d stock savings
banks
_
____ _
_ _ _
_ _
Credit a gencies other than
b a n k s __________________________________
Security a n d c o m m o d i t y brokers,
dealers, exc h a n g e s , a n d
s e r v i c e s -----------------------------I n s u r a n c e c a r r i e r s __________________
I n s u r a n c e agents,
brokers, and

.7

-

Nonsupervisory employees
A l l i n d u s t r i e s 2_________________

1 0 0 .0

34.7

28. 2

15. 3

10.2

5.2

2.5

1.0

.7

.8

B a n k i n g 2--------------------------------

1 0 0 .0

24.6

11.4

19.2

19. 1

12.4

5. 3

2.1

1. 3

2 .0

2 .6

1. 5

2 .2

3.0

-

-

9. 1

Commercial

1. 3

a n d stock savings

b a n k s ______________________________

1 0 0 .0

23.7

11.9

20.1

19.5

10.4

5. 8

2.1

Credit agenc i e s other than
b a n k s ----------------------------------

10 0 .0

33.5

28. 3

16.5

11. 5

5.2

3.6

1.5

Security a n d c o m m o d i t y b rokers,
dealers, excha n g e s , a n d
s e r v i c e s ______________________________

1 0 0 .0

3.5
39.0

12.9
39. 9

9. 3
15. 0

26. 9
5. 6

12. 3
.2

9.7
.3

5.6

5.8

4. 7

1 0 0 .0

-

-

"

1 0 0 .0
1 0 0 .0

33.8
50.7

25.6
34. 4

23. 9
8.1

6 .8
2 .8

5.7

1.0

.9

.5

1. 5

1.3

.9
.2

I n s u r a n c e c a r r i e r s -----------------I n s u r a n c e agents, b r o k e r s , a n d
s e r v i c e -------------------------------R e a l e s t a t e -----------------------------

1
2
3

E x c l u d e s nonoffice s a l e s m e n .
Includes industries not s h o w n separately.
E m p l o y e e s w e r e d i st ributed a s follows:
1 3 . 5 p e r c e n t at 16 to 2 0 p e r c e n t ;

1. 5 p e r c e n t at 2 0 to 2 4 p e r c e n t ; 2 . 6 p e r c e n t at 2 4 to 2 8 p e r c e n t ;

32 to 3 6 p e r c e n t ; a n d 4. 8 p e r c e n t at 3 6 p e r c e n t a n d o v e r .
4

Less

NOTE:

than

0.05

Because

of




percent.
rounding,

sums

of

individual

items

m a y

not

equal

totals.

1 . 6 p e r c e n t at 2 8 to 3 2 p e r c e n t ;

(4 )
1 .0
1 .1

4.8

percent

at

Table

18.

D i s t r i b u t i o n of E m p l o y e e s in F i n a n c e , I n s u r a n c e , a n d R e a l E s t a t e I n d u s t r i e s b y C h r i s t m a s , Y e a r e n d ,
B o n u s E x p e n d i t u r e s in C e n t s P e r H o u r P a i d F o r , b y E m p l o y e e a n d I n d u s t r y G r o u p s , 1 1 9 6 1

a n d O t h e r Irregular

P e r c e n t of e m p l o y e e s in e s t a b l i s h m e n t s w i t h —
Employees
Employee

in all
establishments

a n d industry gr o u p

N o Christ­
m a s , yearend, o r o t h e r
irregular
b o n u s ex-

Christmas,

yearend,

a n d o t h e r i r r e g u l a r b o n u s e x p e n d i t u r e s in c e n t s p e r h o u r p a i d f o r of—

5

10

15

20

25

30

35

40

45

50

-

-

-

-

-

-

-

-

and

10

Under

5
and
under

15

20

25

30

35

40

45

50

over

penditures

All e m p l o y e e s
100.0

31. 3

30. 2

13.4

7.7

5.5

3. 2

1. 5

1.4

1. 1

0.9

0.7

3.0

100.0

20. 1

21.2

13. 2

15.8

13. 0

7. 0

0. 9

0. 9

2. 0

1. 9

1. 2

2. 6

100.0

All* i n d u s t r i e s 2-----------------

19.2

23. 2

12.9

15.7

12. 2

6.7

.8

i. 1

2. 2

2. 0

1. 2

2. 9

5. 1

2. 5

2. 5

4. 6

1. 1

.1

1.0

2.0

4.5

5.4

6. 7

21.0

-

-

(3 )

1.9

2. 0

3. 4

C o m m e r c i a l a n d stock savings
Credit a g encies other than
b a n k s ---------------------------------Security a nd c o m m o d i t y brokers,
dealers, e x c h a n g e s , a n d
s e r v i c e s -----------------------------I n s u r a n c e c a r r i e r s -----------------I n s u r a n c e agents, b r o k e r s , a n d
s e r v i c e --------------------------------

100.0

30.9

22.5

15. 2

12.6

100.0

4. 8

6. 1
16.5

8.9
4. 1

10.7

10.5

6. 3

35.5

7.9
40.2

7. 3

100.0

2. 0

.7

.1

.8

100. 0

33. 1
46. 0

27. 2
37. 4

16.5
7. 1

4.5

4. 7

2. 6

1.4

1. 7

1. 1

.8

1.4

1.7
.1

100.0

1.2

4. 4

Supervisory employees
A l l i n d u s t r i e s 2-----------------

100.0

37. 9

15. 2

7.6

7. 2

3.9

3. 8

3. 3

1.2

1.9

2.0

2.4

13.6

B a n k i n g 2-------------------------------C o m m e r c i a l a n d stock savings
banks _
___
___ _____ _____

1 00. 0

21. 2

11. 1

7. 1

5. 6

6.9

7.8

6. 3

1.7

5.5

3. 3

5. 4

18. 1

100.0

20. 7

11.9

7. 7

6. 1

6. 7

7. 5

5. 3

1.6

6. 1

3. 0

5. 2

18.4

100.0

32. 5

9.6

8. 7

10.0

5. 7

7. 6

6.9

1.0

1. 2

1.7

2. 2

12.9

s e r v i c e s -----------------------------I n s u r a n c e c a r r i e r s __________________
I n s u r a n c e agents, b r o k e r s , a n d

100.0
100.0

25. 6
40. 5

3. 7
31.0

2. 2
8.4

1. 1
7.6

4. 1
2. 8

2.9
1. 3

1.7
1.8

1.7

2.8

.4

1. 3

(3 )

.8

.9
.1

53. 1
4.5

s e r v i c e -------------------------------R e a l e s t a t e -----------------------------

100.0
100.0

50. 3

13.8
11.8

2.8

7. 7

1.0

2. 1
2.2

.6

8.8

.3
.8

.7

7. 3

1.5
1.6

.8

56. 0

.9

18.6
10.0

.8

Credit a g encies other than
b a n k s __________________________________
Security a n d c o m m o d i t y brokers,
dealers, e x c h a n g e s , a n d

.3

.3

Nonsupervisory employees
100.0

_

I n s u r a n c e agents,
sprvi r
*

Because

of r o u n d i n g ,




1. 7

.7

.4

.3

.2

3. 3

3. 0

0.6

1.4

0. 1

0. 1

23. 7

23. 1

23. 7

13.0

7. 5

3. 0

3. 3

.7

1.6

.1

33.5

34.0

18. 7

6. 4

2. 5

1. 3

3. 7

3. 5

8.6
44. 3

10.8

14. 1

15. 1

8. 5

7. 1

10.6

2. 3

5. 3

39. 0

13. 3

1. 3

1.9

(3 )

33. 8
50. 7

34. 6

20. 4
6. 1

2.7
1. 5

4. 7

1.4

.8

1.9

.6

1. 1
1. 3

100.0

E x c l u d e s nonoffice s a l e s m e n .
I n c l ud es indust ri es not s h o w n
L e s s than 0 . 0 5 percent.

NOTE:

1.6

8. 4

100.0

R e a l e s t a t e _____________________________

1
2
3

4.4

13. 1

100.0

brokers, and
. . .

5.9

23.5

100.0

Security a n d c o m m o d i t y brokers,
dealers, e x c h a n g e s , a n d
s e r v i c e s -----------------------------Tnsnranrp parriprs

15.6

21.8

100.0

C o m m e r c i a l a n d stock savings
banks
Credit a genc i e s other than
Vi^nks

33. 5

24.6

100.0

.

34. 7

100.0

A l l i n d u s t r i e s 2----------------Ranking ^

36. 9

separately.

sums

of i n d i v i d u a l i t e m s m a y

n o t e q u a d totals

3.0

11.0
(3 )

.1

.6
1.2

Chapter V. Legally Required Insurance Payments

Total Legally Required P a y m e n t s

E m p l o y e r payments under legally required insurance programs, unlike
outlays for leave, p r e m i u m pay, and bonuses, typically are in addition to p a y ­
roll expenditures rather than being parts of payroll.
In 1961, these p a yments
w e r e equal to 3. 6 percent of gross payroll.
P a y m e n t s for old-age, survivors,
and disability insurance equaled 2. 2 percent of gross payroll; u n e m p l o y m e n t c o m ­
pensation, 1.1 percent; w o r k m e n ' s compensation, 0.2 percent; and other legally
required insurance (mainly temporar y disability insurance in California, N e w
Jersey, and N e w York), 0. 1 percent.
Because all establishments are covered
by s o m e legally required insurance program, expenditures for these items are
presented mainly on an all-establishment basis. In all industries combined, e x ­
penditures for nonsupervisory workers, 4. 4 percent of gross payroll, w e r e twice
those for supervisors.
A m o n g the m a j o r industry groups studied, expenditures
ranged f r o m a high of 4. 8 percent in real estate to a low of 2. 7 percent in the
security and c o m m o d i t y brokers, dealers, exchanges, and services group, with
the expenditures of the other groups clustering between 3. 3 and 3. 6 percent. (See
chart 4 and table 19. )

In all industry groups combined, expenditures for legally required in­
surance averaged 9.4 cents per hour paid for, of which 5. 8 cents was for old-age,
survivors, and disability insurance; 2. 8 cents for u n e m p l o y m e n t compensation;
0 . 6 cent for w o r k m e n ' s
compensation; and 0. 1 cent for the other legally required
insurance.
Although as a percent of gross pay, expenditures for these p r o g r a m s
w e r e twice as great for the nonsupervisory employees as for the supervisors, in
cents per hour paid for, the figures w e r e 11.0 cents for supervisors and 9. 0 cents
for nonsupervisory employees.
This w a s caused mainly by higher old-age, s ur­
vivors, and disability insurance payments for the supervisors, as a result of their
higher average annual earnings. O n an all-employee basis, expenditures for total
legally required insurance w e r e higher in the real estate and security and c o m ­
modity brokers, dealers, exchanges, and services groups (11.2 and 11.1 cents
per hour paid for, respectively) than in the other m a j o r industry groups studied.

In establishments in ,the finance, insurance, and real estate industries,
expenditures for legally required payments ranged f r o m under 1 percent of gross
payroll to 8 percent and over. M o r e than four-fifths of the workers w e r e e m ­
ployed in establishments w h ose legally required p ayments equaled between 2 and
5 percent of gross payroll, and m o r e than two-fifths w e r e in establishments with
expenditures between 3 and 4 percent.
Substantial clusterings w e r e observed in
m o s t of the individual m a j o r industry groups studied.
Thus, nearly two-thirds
of all employees, excluding outside salesmen, in insurance carriers w e r e in e s ­
tablishments with expenditures between 3 and 4 percent.
Banking establishments
with expenditures of between 2 and 5 percent employed 98 percent of the industry's
workers.
In the credit agencies other than banks, in the security and c o m m o d i t y
brokers, dealers, exchanges, and services, and in the insurance agents, brokers,
and service groups, nearly three-fourths of the employees w e r e in establishments
which spent amounts equal to between 2 and 4 percent of their gross payroll for
legally required insurance payments.
Greater variation a m o n g establishments
w a s found in real estate. (See table 20. )




32

33

Cha t 4 Employer Expenditures f r L g l y Required I s r n e Items i F n n e I s r n e
r .
o eal
nuac
n iac, nuac,
and R a E t t I d s r e , b Employee Group, 1 6
e l s a e nutis y
91
P e r c e n t

3 .0

2.4

o f

g r o s s

1.8

p a y r o ll

1.2

C e n t s

0 .6

.0

0

1.6

p e r

h o u r

3.2

p a id

4 .8

f o r

6-4

i--------------------- 1
------------------- 1
------------------- 1
-------------------- r ~
O L D - A G E ,

S U R V IV O R S ,

A N D

U N E M P L O Y M E N T

D IS A B IL IT Y

C O M

IN S U R A N C E

P E N S A T IO N

A l employees
l

2 .8

Supervisory employees
Nonsupervisory
employees

1.4

W

O T H E R ,

2 . 9

O R K M

IN C L U D IN G

01 I

E N

S

C O M

2.3

P E N S A T IO N

T E M P O R A R Y

D IS A B IL IT Y

All employees

IN S U R A N C E

| 01

Supervisory employees ■ o l
.

0 .1

Nonsupervisory
employees

i Less than 0.05 percent.
/
NOTE: Data exclude nonoffice salesmen.




o.

I

i.o

7

34

Ol d - A g e ,

Survivors, and Disability Insurance (Social Security)

In 1961, the emplo y e r ' s contribution for old-age, survivors, and disability
insurance a m o u n t e d to 3. 0 percent of the first $4, 800 earn e d b y each employee.
In the finance, insurance, and real estate industries, emplo y e r s ' O A S D I contri­
butions, as percentages of gross payroll, w e r e 2.2 percent for all emplo y e e s ,
1.4 percent for supervisors, and 2.7 percent for n o n s u p e r v i s o r y w o r k e r s .
Only
limited variation existed a m o n g m o s t of the m a j o r industry groups e x a m i n e d ; the
only group in w h i c h there w e r e differences of m o r e than two-tenths of a p e r c e n t ­
age point f r o m the all-industry figures w a s the security and c o m m o d i t y brokers,
dealers, exchanges, a nd services group, in w h i c h the expenditures w e r e 1.6 p e r ­
cent, 0. 9 percent, and 1.9 percent, respectively.
W h e n these expenditures w e r e c o m p u t e d as cents p e r hou r paid for, e x ­
penditures a v e r a g e d 5.8 cents for all e m p l o y e e s , 7.2 cents for supervisors, and
5.4 cents for n o n s u p e r v i s o r y w o r k e r s . A m o n g the industries studied individually,
security and c o m m o d i t y brokers, dealers, exchanges, and services h a d the highest
a v e rage expenditure for all e m p l o y e e s — 6. 6 cents p e r hour.
U n e m p l o y m e n t Compensation
Unlike O A S D I , u n e m p l o y m e n t c o m p e n s a t i o n is, to a considerable extent,
regulated b y the individual States, and variations a m o n g State provisions affect
e m p l o y e r contributions.
T h e r e are differing statutory ceilings on the earnings
base, differing m a x i m u m contribution rates, and differing u se of experience rating
s y s t e m s w h i c h m a y , for s o m e establishments, require n o p a y m e n t s to the State.
E m p l o y e r p a y m e n t s for u n e m p l o y m e n t c o m p e n s a t i o n in the industries s u r v e y e d
w e r e equal to 1.1 percent of the gross payroll for all emp l o y e e s ; expenditures
for supervisory and n o n s u p e r v i s o r y e m p l oyees, separately, w e y e 0. 6 percent and
1.4 percent, respectively.
T h e highest expenditure in the industry groups studied
w a s the 1.5 percent of gross p a y in the real estate industry; all other industry
groups ranged b e t w e e n 0. 9 percent and 1. 1 percent.
In cents p e r h o u r paid for, the all-industry figures w e r e 2. 8 cents for
all e mployees, 2.9 cents for supervisory, and 2.8 cents for n o n s u p e r v i s o r y e m ­
ployees.
T h e security and c o m m o d i t y brokers, dealers, exchanges, and s e r v ­
ices and the real estate groups had the highest a v e r a g e all-employee e x p endi­
tures— 3. 7 cents p e r h o u r paid for in the f o r m e r and 3. 5 cents in the latter
industry group.
All other m a j o r industry groups e x a m i n e d had averages of either
2. 5 or 2. 6 cents.
W o r k m e n ' s Compensation
M e t h o d s of financing w o r k m e n ' s c o m p e n s a t i o n p r o g r a m s vary. Financing
m a y be through State funds, private insurance carriers, or self-insurance.
The
net expenditures of c o m p a n i e s qualifying as self-insurers are included in this
survey.
In the finance, insurance, and real estate industries as a whole, e x ­
penditures for w o r k m e n ' s c o m p e n s a t i o n w e r e relatively small; they equaled only
0. 2 percent of gross p a y for all e m p l o y e e s , 0. 1 percent for supervisors, and
0. 3 percent for n o n s u p e r v i s o r y w o r k e r s .
T h e all-employee figures for industries
studied separately w e r e 0. 1 percent of gross payroll in all industries except in­
s urance agents, brokers, and service (0. 2 percent) and real estate (0. 8 percent).
H i gher expenditures in the real estate industry for w o r k m e n ' s c o m p e n s a t i o n are
caused b y the relatively large n u m b e r of people in this industry w h o are in n o n ­
office jobs, such as janitors, building superintendents, a nd m a i n t e n a n c e m e n .




35

E x p r e s s e d in cents p e r hour paid for, w o r k m e n ' s c o m p e n s a t i o n expendi­
tures w e r e 0. 6 cent p e r h o u r for both all e m p l o y e e s and n o n s u p e r v i s o r y w o r k e r s
and 0. 7 cent for supervisors. Expenditures in all m a j o r industry groups studied
ranged b e t w e e n 0. 3 and 0. 5 cent p e r hou r paid for, except for real estate, in
w h i c h the av e r a g e w a s 1.9 cents.
O ther Legally R e q u i r e d Insurance
Other legally required benefits consisted, for the m o s t part, of t e m p o r a r y
disability insurance. S u c h insurance is designed prima r i l y to provide cas h b e n e ­
fits to e m p l o y e e s unable to w o r k o w i n g to n o n w o r k - c o n n e c t e d illness or accident.
T e m p o r a r y disability insurance legislation is found in four States— California,
N e w Jersey, N e w York, and R h o d e Island.
E m p l o y e r s m u s t contribute t owards
the financing of the p r o g r a m only in N e w Jersey, and m a y do so u n d e r certain
conditions in N e w Y o r k and California; the R h o d e Island p r o g r a m is entirely e m ­
ployee financed. 6
Expenditures for other legally required insurance w e r e equal to m e r e l y
0. 1 percent of the gross payroll of all establishments in the industries studied.
O n a cents-per-hour-paid-for basis, expenditures for all e m p l o y e e s in the finance,
insurance, and real estate industries w e r e 0. 1 cent p e r hour. Expenditures w e r e
small even w h e n related to the payrolls and hours of only establishments with
these p a y m e n t s — 0. 2 percent of gross payroll and . . 6 cent p e r hour paid for.
0

6
le t in

D ig e s t

1236,

In s u r a n c e

1 9 5 8 ),

L aw s

(U . S.




o f O n e

a p p e n d ix

H u n d re d
A ,

pp.

D e p a rtm e n t

o f

S e le c t e d

2 4 5 — 247$
L ab o r,

H e a lth
a n d

B u re au

an d

In s u r a n c e

M a rg a re t
o f

D a h m ,

E m p lo y m e n t

P la n s

U n d e r

E x p e r ie n c e
S e c u r it y ,

C o lle c t iv e

a n d

P r o b le m s

O c to b e r

1 9 5 5 ),

B a r g a in in g ,
u n d e r
pp .

1,

E a r ly

T e m p o ra ry
14,

an d

1958

(B L S

D is a b ilit y

15.

B u l­

W
ON

Table 19. Employer Expenditures for Legally Required Insurance Payments in Finance, Insurance, and Real Estate Industries,
All Establishments, by Employee and Industry Groups,1 1961
P e rce n t of g r o ss
Unem E m p lo y e e

a n d in d u s t r y

group
T o tal

O A SD I 1
2

p i° y m ent
com ­
pen­

P e r c e n t o f s t r a i g h t - • tim e p a y r o l l

p a y r o ll

Unem -

W ork­
m en' s
com ­

O th e r 3 T o ta l

O A SD I 2

pen­
s a tio n

p i° y m ent
com ­
pen­

W ork­
m en' s
com ­
pen­
s a tio n

C e n t s p e r h o u r p a id fo r
U nem -

O th e r 3

T o ta l

O A SD I 2

s a tio n

s a tio n

p i° y m ent
com ­
pen­

W ork­
m en' s
com ­

C e n t s p e r p la n t m a n - h o u r
Unem O th e r 3

T o ta l

O A SD I 2

pen­
s a tio n

p i° y m ent
com ­
pen­
s a tio n

s a tio n

W ork­
m en' s
com ­

O th e r3

pen­
s a t io n

A l l e m p lo y e e s
A l l i n d u s t r i e s 4 --------------------------

3. 6

2. 2

1. 1

0. 2

0. 1

3. 6

2. 3

1. 1

0. 3

0. 1

9. 4

5 .8

2 .8

0. 6

0. 1

10. 2

6. 3

3. 0

0. 7

0. 2

B a n k i n g 4----------------------------------------------------C o m m e r c ia l and sto c k
s a v i n g s b a n k s --------------------------------C r e d it a g e n c ie s o th e r

3. 6

2. 4

1. 1

0. 1

0. 1

3. 6

2. 4

1. 1

0. 1

0. 1

8. 6

5. 6

2 .6

0. 3

0. 1

9. 5

6. 2

2. 8

0. 3

0. 1

3. 6

2. 4

1. 1

. 1

( 5)

3 .6

2. 4

1. 1

. 1

( 5)

8. 5

5 .6

2. 5

. 3

. 1

9 .4

6. 1

2. 8

. 3

3. 4

2. 3

1 .0

. 1

(5)

3. 4

2. 3

1. 0

. 1

(5)

8 .8

5 .9

2. 5

. 3

9. 5

6. 3

2. 7

. 4

2. 7
3. 4

1 .6

.9
1 .0

. 1
. 1

(5)

2. 7
3 .4

1 .6
2. 3

.9
1. 0

. 1
. 1

( 5)

11. 1
8. 8

6. 6

2. 3

3. 7
2. 6

. 4
. 3

. 4
. 1

1 1 .9
9. 6

7. 1
6. 4

4. 0
2. 8

. 4
. 4

.4
. 1

3. 3
4 .8

2. 1
2. 3

.9
1 .5

. 2
.8

3. 3
4 .8

2. 1

.9
1. 5

. 2
.8

9. 3
1 1 .2

6. 0
5. 5

2. 6

. 5

. 2

3. 5

1 .9

. 3

10. 1
1 1 .8

6. 5
5 .8

2 .9
3. 7

. 5
2. 0

. 3

12. 0

7. 8

3. 2

.8

. 2

1 1 .7

8. 0

3. 1

0. 4

0. 2

th a n b a n k s

---------------------------------------------

S e c u r it y a n d c o m m o d ity b r o k e r s ,
d e a le r s , e x c h a n g e s ,
a n d s e r v i c e s -----------------------------------------In s u r a n c e
In s u r a n c e

c a r r i e r s ------------------------------age n ts, b ro k e rs,

a n d s e r v i c e -------------------------------------------R e a l e s t a t e -----------------------------------------------S u p e r v is o r y

. 1

. 1
. 1

2. 3

. 1

. 1
. 1

5 .8

(5)

2. 2

1 .4

.6

. 1

( 5)

2. 2

1 .4

.6

. 1

( 5)

11. 0

7. 2

2 .9

. 7

. 1

B a n k i n g 4----------------------------------------------------C o m m e r c ia l and sto c k
s a v i n g s b a n k s --------------------------------C r e d it a g e n c ie s o th e r
t h a n b a n k s ----------------------------------------------S e c u r it y a n d c o m m o d ity b r o k e r s ,
d e a le r s , e x c h a n g e s ,
a n d s e r v i c e s ------------------------------------------

2. 1

1. 5

0. 6

0. 1

( 5)

2. 1

1. 5

0. 6

0. 1

(5)

10. 6

7. 2

2 .8

0. 4

0. 1

2. 1

1 .5

.6

. 1

(5)

2. 1

1. 5

. 6

. 1

(5)

10. 4

7. 2

2. 7

. 4

2. 2

1 .6

.6

. 1

( 5)

2. 2

1 .6

. 6

. 1

(5)

10. 2

7. 1

2. 6

. 4

(5)

1 .5
2. 2

.9
1 .5

. 4
.6

. 1
. 1

(f)
(5)

1 .5

.9
1 .5

. 4

. 1
. 1

0
(5)

1 1 .8

7. 3

3 .6

2. 2

1 0 .8

7. 4

2 .9

. 5
. 5

(5)

1 .9
2. 6

1. 3
1 .4

. 5

. 1
.4

(5)
0. 1

1 .9
2. 6

1. 3
1. 4

(5 )
0. 1

7. 1
7. 1

2. 5

. 7

. 1
.4

10. 3

. 7

A l l i n d u s t r i e s 4 --------------------------

4. 4

2. 7

1 .4

. 3

. 1

4. 5

2. 7

1 .4

. 3

. 1

9. 0

5. 4

2 .8

B a n k i n g 4 --------------------------------------------------C o m m e r c ia l and sto c k

4. 4

2 .9

1 .4

0. 2

0. 1

4. 5

2 .9

1. 4

0. 2

0. 1

8. 2

5. 3

2. 5

s a v i n g s b a n k s --------------------------------C r e d it a g e n c ie s o th e r

4. 4

2 .9

1 .4

. 1

. 1

4. 5

2 .9

1 .4

. 2

. 1

8. 1

5. 3

2. 5

. 3

. 1

t h a n b a n k s ----------------------------------------------S e c u r it y an d c o m m o d ity b r o k e r s ,

4. 3

2 .8

1. 3

. 2

(5)

4. 3

2. 8

1. 3

. 2

8. 4

5. 5

2. 5

. 3

3. 2
4. 1

1 .9
2. 7

1. 1

. 1
. 2

3. 2
4. 2

1 .9
2. 7

1. 1
1 .2

. 2

10. 9
8. 3

6. 5
5. 4

3. 7
2. 5

. 3

. 4
. 1

1 1 .8

1. 2

4. 3
5. 6

2. 7

1. 3
1 .8

. 2
1 .0

4. 3

2. 7
2. 7

1. 3
1 .8

. 2
1 .0

9. 0
10. 9

5. 7
5. 2

2. 7

.4

. 2

3. 5

1 .9

. 3

and

c a r r i e r s ------------------------------age n ts, b ro k e rs,

s e r v i c e -------------------------------------------

R e a l e sta te

-----------------------------------------------

N o n s u p e r v is o r y

. 6
. 5

13. 2

3. 7

1 1 .5

8. 0

3. 0

. 4

. 2

1 1 .0

7. 7

2. 8

. 5

(5 )

12. 7

8. 0
8. 1

3. 9
3. 2

. 5

1 1 .9

. 5

.4
. 1

. 3

1 1 .2
14. 0

7. 7
7. 6

2. 7
4. 0

.6
2. 2

. 1
. 3

. 6

. 1

9 .7

5 .9

3. 0

. 7

. 2

0. 3

0. 1

9. 0

5. 8

2. 8

0. 3

0. 1

8 .9

5. 8

2. 7

. 3

. 1

9 .0

5 .9

2. 7

. 3

(5)

7. 0
6. 0

4. 0
2. 7

. 4

. 4

9. 1

. 3

. 1

9. 7
1 1 .5

6. 2
5. 5

. 6
2. 0

. 1

. 4

. 1

e m p lo y e e s

d e a le r s , e x c h a n g e s ,
a n d s e r v i c e s -----------------------------------------In s u r a n c e
In s u r a n c e

. 2

e m p lo y e e s

A l l i n d u s t r i e s 4 --------------------------

In s u r a n c e
In s u r a n c e

. 1
( 5)

c a r r i e r s --------------------------------age n ts, b r o k e rs,

a n d s e r v i c e ------------------------------------------R e a l e s t a t e ------------------------------------------------

n o n o ff ic e s a le s m e n .
s u r v iv o r s , an d d is a b ilit y

2. 7

1
2

E x c lu d e s
O ld -a g e ,

3
4
5

. 1
(5)
. 1
. 1

5. 7

M a in ly t e m p o r a r y d is a b ilit y in s u r a n c e .
In c lu d e s in d u s t r ie s n o t s h o w n s e p a r a t e ly .
L e s s t h a n 0. 0 5 p e r c e n t o r 0. 05 c e n t .

in s u r a n c e .

NOTE: Because of rounding, sums of individual items may not equal t t l .
oas




. 1

(5)

. 1
(5)
. 1
. 1

. 4

( 5)

2 .9
3. 7

. 5

. 2

2. 0

. 3

Table 20. Distribution of Employees i Finance, Insurance, and Real Estate Industries by Legally Required Insurance
n
Expenditures as a Percent of Gross Payroll, by Employee and Industry Groups, 1 1961
P e r c e n t o f e m p lo y e e s

E m p lo y e e

E m p lo y e e s
in a ll
e s t a b lis h ­
m e n ts

an d in d u s t r y g ro u p

N o le g a lly

L e g a lly

re q u ir e d
in s u r a n c e
expen­
d it u r e s

1

re q u ir e d
2

in s u r a n c e
3

in e s t a b l i s h m e n t s w it h —

e x p e n d itu r e s a s
4

ci p e r c e n t o f g r o s s p a y r o l l o f —
5

6

7

8
and

1
2

3

4

5

6

7

8

over

A l l e m p lo y e e s
A l l i n d u s t r i e s 1 -------------------------2

100. 0

(3 )

2. 0

21. 5

42. 0

20. 5

5. 5

4. 0

2. 4

2. 0

B a n k i n g 2 --------------------------------------------------C o m m e r c ia l an d sto c k s a v in g s
b a n k s --------------------------------------------------

100. 0

-

-

0. 2

22. 7

41. 8

33. 1

1 .9

-

0. 2

_

100. 0

-

-

-

23. 0

41. 3

34. 0

1. 7

-

-

-

C r e d it a g e n c ie s o th e r th a n
b a n k s --------------------------------------------------------

100. 0

-

1. 0

34. 4

39. 6

17. 2

5. 9

2. 0

S e c u r it y a n d c o m m o d ity b r o k e r s ,
d e a le r s , e x c h a n g e s , an d
s e r v i c e s --------------------------------------------------

-

-

-

100. 0

1. 3
2. 8

(3 )
. 8

-

-

4. 8

3. 8

16. 3

16. 5

0. 3
-

-

47. 1
16. 8

12. 8

100. 0

13. 2
1. 1

25. 2

c a r r i e r s ------------------------------a ge n ts, b ro k e rs, and

65. 7

1 2 .9

s e r v i c e --------------------------------------------------R e a l e s t a t e -----------------------------------------------

100. 0

_

_

2. 1

33. 6

100. 0

"

2. 9

7 .9

3 9 .9
13. 4

14. 7
2 1 .5

In s u r a n c e
In s u r a n c e

S u p e r v is o r y

.9
1 1 .3

10. 4

.9

1. 2

e m p lo y e e s

A l l i n d u s t r i e s 2 ----------------------------

100. 0

2. 7

30. 7

37. 7

16. 0

5. 8

3. 4

1 .5

B a n k i n g 2 ----------------------------------------------------

100. 0

-

0. 1

39. 5

48. 0

9. 8

2. 3

0. 3

-

-

-

100. 0

-

-

39. 1

48. 1

10. 2

2. 6

-

-

-

-

-

1 .5

30. 0

4 1 .9

20. 8

4. 5

. 8

0 .4

-

-

1 0 0 .0
100. 0

-

16. 4
1 .3

47. 1
26. 2

23. 4
53. 3

3. 5
17. 7

9. 6
1 .3

-

-

100. 0

_

5. 7

35. 5

34. 4

20. 2

. 6

1 .8

1. 8

0. 1

100. 0

"

5. 2

17. 4

13. 1

16. 5

17. 5

14. 8

5. 0

4. 5

C o m m e r c ia l and s to c k s a v in g s
b a n k s -------------------------------------------------C r e d it a g e n c ie s o th e r th a n
b a n k s --------------------------------------------------------

100. 0

S e c u r it y a n d c o m m o d ity b r o k e r s ,
d e a le r s , e x c h a n g e s , an d
s e r v i c e s -------------------------------------------------I n s u r a n c e c a r r i e r s ------------------------------In s u r a n c e a g e n t s , b r o k e r s , a n d
R e a l e sta te

-----------------------------------------------

N o n s u p e r v is o r y

. 1

. 1

6. 2

e m p lo y e e s

A l l i n d u s t r i e s 2 ----------------------------

1 0 0 .0

. 3

3. 6

34. 5

34. 6

14. 3

6. 8

3. 4

2. 5

---------------------------------------------------

100. 0

-

-

-

0. 5

35. 3

37. 1

24. 4

2. 5

-

0. 3

C o m m e r c ia l an d sto c k s a v in g s
b a n k s -------------------------------------------------C r e d it a g e n c ie s o th e r th a n
b a n k s -------------------------------------------------------

100. 0

-

-

-

.4

35. 8

37. 6

23. 4

2. 7

-

-

100. 0

-

-

-

.9

38. 9

39. 8

11. 6

8. 5

0. 2

-

100. 0
100. 0

0. 1

4. 8

35. 7

-

-

2. 0

31. 7
46. 7

22. 4
38. 2

3. 3

-

9. 7

2. 0
3. 4

-

-

100. 0

_

_

_

3. 3

36. 6

34. 1

6. 5

2. 2

. 2

2. 4

10. 9

26. 3

19. 3

16. 5

B a n k in g 2

S e c u r it y an d

c o m m o d ity b r o k e r s ,

d e a le r s , e x c h a n g e s , an d
s e r v i c e s -------------------------------------------------I n s u r a n c e c a r r i e r s ------------- -----------------In s u r a n c e a g e n t s , b r o k e r s , a n d
s e r v ic e

----------------------------------------------------

R e a l e sta te

(3 )

-----------------------------------------------

1

E x c lu d e s n o n o ffic e

2

In c lu d e s

3

Less

N O T E :

in d u s t r ie s

th an

0. 05

B e cau se

100. 0

17. 3
12. 0

12. 5

s a le s m e n .
not

show n

s e p a r a t e ly .

p e rc e n t.
o f r o u n d in g ,




s u m s o f in d iv id u a l it e m s

m ay

not

equal

t o ta ls .

00
-a

Table 21. Distribution of Employees in Finance, Insurance, and Real Estate Industries by Legally Required Insurance
Expenditures in Cents Per Hour Paid For, by Employee and Industry Groups, 1 1961

CO
CO1

P e r c e n t o f e m p l o y e e s in e s t a b l i s h m e n t s w it h —

E m p lo y e e

an d in d u s t r y g r o u p

E m p lo y e e s
in a ll
e s t a b lis h ­
m e n ts

L e g a lly

N o le g a lly
r e q u ir e d
in s u r a n c e

5

in s u r a n c e

7

e x p e n d itu r e s in c e n t s p e r h o u r p a id f o r o f—

8

12

11

IT)

9

IT

14

and

Under
5

expen­
d it u r e s

r e q u ir e d

b

and

under
'

6

8

7

10

9

11

12

over

14

13

A l l e m p lo y e e s
A l l i n d u s t r i e s 2 ----------------------------

100. 0

-

1 .4

3. 2

12. 2

17. 8

16. 5

13. 8

12. 1

8. 6

4. 7

3. 2

6. 8

B a n k i n g 2 --------------------------------------------------C o m m e r c ia l an d s to c k s a v in g s

100. 0

.

1. 1

4. 1

18. 7

2 1 .4

12. 1

14. 5

14. 4

6. 0

4. 6

2. 2

0. 8

b a n k s --------------------------------------------------

100. 0

-

1. 3

4. 0

18. 8

22. 1

12. 3

15. 3

14. 8

5. 6

4. 4

1. 5

-

100. 0

_

. 1

3. 1

11. 6

21. 3

22. 4

18. 1

1 1 .0

4. 5

2. 6

2. 7

2. 6

100. 0

_

5. 1
21. 8

9 .6
2 1 .8

14. 0

2 1 .2

12. 8

11. 5

7. 4

2. 1

1. 0
14. 4

14. 9

-

.5
-

2. 1

100. 0

17. 4

11. 1

6 .4

2. 7

1. 2

1. 1

100. 0
100. 0

_

.8

3. 7
3. 7

10. 4
3. 6

10. 9
9. 7

25. 9
8. 8

11. 1
7. 2

17. 2
9 .0

8. 1
14. 3

3. 3
7. 1

4. 6
5. 4

4. 2
326. 6

A l l i n d u s t r i e s 2 ----------------------------

100. 0

_

B a n k i n g 2 -----------------------------------------------------

100. 0

C r e d it a g e n c ie s o th e r th a n
b a n k s -------------------------------------------------------S e c u r it y an d c o m m o d ity b r o k e r s ,
d e a le r s , e x c h a n g e s , a n d
s e r v i c e s -------------------------------------------------I n s u r a n c e c a r r i e r s ------------------------------In s u r a n c e a g e n ts, b r o k e r s , an d
s e r v i c e --------------------------------------------------R e a l e sta te

-----------------------------------------------

S u p e r v is o r y

4 .9

e m p lo y e e s

C o m m e r c ia l and

sto c k

. 3

2. 2

6. 1

14. 8

15. 0

15. 0

15. 7

8. 3

8. 2

13. 7

0. 5

. 6

1. 0

8. 7

18. 8

18. 0

13. 3

15. 1

6. 7

9. 7

8. 1

s a v in g s
100. 0

_

_

. 6

1. 1

8. 6

20. 1

18. 8

1 1 .9

15. 6

7. 0

9. 6

6. 7

100. 0

b a n k s -------------------------------------------------C r e d it a g e n c ie s o th e r th a n
Id a n k . s - ------- - ---------------------------------------------

_

0. 2

. 3

3. 4

9. 2

18. 0

12. 7

26. 8

12. 6

4. 2

3. 2

9. 4

13. 4
12. 3

2 3 .4

14. 0

6. 6

3. 6

5. 0
8. 9

8. 4
4 38. 1

S e c u r it y a n d c o m m o d ity b r o k e r s ,
d e a le r s , e x c h a n g e s, an d
s e r v i c e s --------------------------------------------------

100. 0

_

_

-

-

2. 7

10. 0

13. 1

15. 1

8. 3

I n s u r a n c e c a r r i e r s ------------------------------In s u r a n c e a g e n ts, b r o k e r s , an d
s e r v i c e -----------------------------------------------------

100. 0

-

-

-

-

2. 4

13. 6

17. 2

17. 1

27. 3

100. 0

_

1 .8

_

8. 1

14. 7

27. 1

100. 0

-

1 .8

-

3. 4

8. 5

5 .9

10. 7
9 .5

15. 1

R e a l e s t a t e -----------------------------------------------

1. 0
3. 2

1 0 .5

8. 2
10. 2

1 0 0 .0

_

2. 5

8. 3

16. 2

12. 7

16. 6

1 1 .3

10. 9

8. 1

4. 0

3. 1

6. 0

2. 3

0 .9

1 .4

. 1

N o n s u p e r v is o r y

e m p lo y e e s

A l l i n d u s t r i e s 2 ---------------------------B a n k i n g 2 ----------------------------------------------------C o m m e r c ia l an d s to c k s a v in g s

3. 3

100. 0

-

10. 1

23. 2

14. 1

1 2 .4

1 1 .0

1 5 .4

3. 6

3. 6

100. 0

b a n k s -------------------------------------------------C r e d it a g e n c ie s o th e r th a n

3. 8

10. 4

23. 2

14. 8

12. 3

12. 0

15. 8

2. 5

4. 0

7. 4

15. 0

18. 5

23. 8

15. 6

7. 6

3. 2

1. 7

3. 1

2. 4

.5

2. 8

13. 3

1 1 .9

8. 8
23. 0

14. 3

1 1 .9

1 .9
20. 2

4. 8

.4

1 3 .0

9. 2

24. 2
6. 3

14. 5
2. 0

7. 6
. 8

7. 4
1 .3

1. 7
6. 5

3. 9
3. 3

14. 7
5. 4

14. 4
9 .5

20. 3

10. 8

9. 1

6 .9

1 5 .9
8. 0

5 .9
16. 1

3. 0
6. 0

7. 0
5. 1

2. 2
52 4 . 1

b a n k s -------------------------------------------------------S e c u r it y a n d c o m m o d ity b r o k e r s ,
d e a le r s , e x c h a n g e s , a n d

100. 0

-

1 .8

s e r v i c e s --------------------------------------------------

100. 0

I n s u r a n c e c a r r i e r s ------------------------------In s u r a n c e a g e n ts, b r o k e r s , an d
s e r v i c e ---------------------------------------------------

100. 0

_

R e a l e sta te

1
2
3
cent
at

20

at

19

at
4

100. 0
100. 0

-----------------------------------------------

E x c lu d e s n o n o ffic e s a le s m e n .
In c lu d e s i n d u s t r ie s n o t s h o w n s e p a r a t e ly .
E m p lo y e e s w e r e d is t r ib u t e d a s f o llo w s :
7 .7

percen t

at

14

to

15

c e n ts;

4 .2

pe rcen t

at

15

to

16

ce n ts;

5 .8

percen t

at

16

to

17

c e n ts;

2 .7

pe rcen t

19 c e n t s a n d o v e r .
E m p lo y e e s w e r e d is t r ib u t e d

p e rcen t

at

14

to

15

c e n ts;

4 .8

pe rcen t

at

15

to

16

ce n ts;

5 .8

pe rcen t

at

16

to

18

ce n ts;

2 .5

pe rcen t

to 22 c e n ts; a n d 1 5 .4 p e r c e n t
5 E m p lo y e e s w e r e d is t r ib u t e d
ce n ts

and

as

fo llo w s :

a t 22 c e n ts
a s fo llo w s :

3 .9

and ove r.
6 pe rcen t

at

14

to

15

c e n ts;

5 .3

o ve r.

NOTE: Because of rounding, sums of individual items may not equal tot s.
al




pe rcen t

at

15

to

16

ce n ts;

5 .7

pe rcen t

at

16

to

17

ce n ts;

2 .2

pe rcen t

at

at
at
17

17

to

18

to

to

19

19

ce n ts;

20

ce n ts;

and

6 .2

5 .7

c e n ts; a n d 4 .9

p e r­

p e rcen t
percen t

C h a p t e r

V

I .

P r i v a t e

W

e l f a r e

P l a n s

Total Private Welfare Plans
Expenditures for private welfare plans could not be computed separately
for supervisory and nonsupervisory employees. Commonly, establishments in the
finance, insurance, and real estate industries have a single plan for all workers,
and expenditure records are not maintained separately for individual employee
groups. Consequently, the data in this chapter apply to all employees combined.
Over 90 percent of the employees in the finance, insurance, and real
estate industries were in establishments which spent m o n e y during 1961 for at
least one of the private welfare plans studied. For the individual plans studied,
the percent of workers in establishments with expenditures varied from 89 per­
cent for health, accident, and life insurance plans; 71 percent for pension and
retirement plans; 29 percent for severance or dismissal pay; 3 percent for savings
and thrift plans; 2 percent for stock purchase plans; to less than 1 percent for
vacation and holiday funds.
Except for the real estate group, in which estab­
lishments with expenditures for private welfare plans employed only about twothirds of the employees, the proportions in the major industry groups examined
ranged from 99 percent in banking and insurance carriers to 89 percent in insur­
ance agents, brokers, and service.
(See table 22.)
Employer contributions to the selected private welfare plans equaled
6.9 percent of the gross payroll of all establishments.
Expenditures for these
plans (except severance pay) were primarily in addition to expenditures for pay­
roll. The major expenditures were for pension and retirement plans, amounting
to 4. 5 percent; and health, accident, and life insurance, 1.9 percent. None of
the remaining plans entailed expenditures exceeding 0. 2 percent of gross payroll.
For establishments with expenditures for the practice, 7.4 percent was added to
gross payroll for the selected private welfare plans; 6. 1 percent for pension and
retirement plans; 2. 1 percent for health, accident, and life insurance; and 0. 3 per­
cent for severance or dismissal pay. 7 A m o n g the major industry groups studied,
expenditures for private welfare plans ranged from 9. 3 percent of gross payroll
in banking to 4. 1 percent in real estate.
Figures for establishments with ex­
penditures ranged from 9. 3 percent in banking to 4.8 percent in insurance agents,
brokers, and service.
(See chart 5 and table 23.)
For each payroll hour paid, establishments in the finance, insurance,
and real estate industries spent an additional 17.9 cents for the selected private
welfare plans in 1961. A m o n g those establishments with expenditures, the figure
amounted to 19.4 cents for each hour.
Private welfare plan expenditures, ex­
pressed separately for all establishments and establishments with expenditures,
averaged 11.7 and 16.2 cents per hour paid for for pension and retirement plans;
4.9 and 5.5 cents for health, accident, and life insurance; and 0.2 and 0.7 cent
for severance and dismissal pay. In all establishments, 0.4 cent per hour paid
for was spent for savings and thrift plans, 0. 1 cent for stock purchase plans,
and less than 0. 05 cent for vacation and holiday funds. Individual industry ex­
penditures found for total private welfare plans averaged from 22.5 cents in se­
curity and commodity brokers, dealers, exchanges, and services and 22. 3 cents

7
w it h

F o r

e x p e n d itu r e s




v a c a t io n
do

n o t

a n d

m e e t

h o lid a y

fu n d s,

p u b lic a t io n

s a v in g s

an d

c r it e r ia .

39

t h r if t

p la n s ,

a n d

sto c k

p u rch a se

p la n s ,

d a ta

fo r

e s t a b lis h m e n t s

40

Chart 5.

Employer Expenditures for Selected Private Welfare Plans in Finance, Insurance,
and Real Estate Industries, All Employees, 1961

Percent of gross payroll
5.0

4.0

3.0

2.0

Cents per hour paid for

1.0

0

0

I -- 1
--- 1
--- 1
--- r-H e a lth ,

I.9

lif e

a c c id e n t ,
in s u r a n c e

P e n s io n
r e t ir e m e n t

i

o .i

_
0 .2

0




D a ta

5.0

e x c lu d e

_
■

I

, I

l

a n d
p la n s

Se ve ran c e
d is m is s a l

S a v in g s

or

l

pay

a n d
,

t h r ift

S to c k

p u rch a se

n o n o ff ic e

p la n s I

s a le s m e n .

0 .2

_ _
■

p la n s

7.5

10.0

12.5

I---------------------- 1
---------------------- i----------------------1
----------------------1

4.9
a n d

N O T E :

2.5

1

I

0

0

4

(

41

in banking to 9. 5 cents in real estate and 12. 3 cents in the insurance agents,
brokers, and service group.
Expenditures for total private welfare plans in individual establishments
ranged f r o m under 1 percent of gross pay to 16 percent or m o r e . In the banking
industry, m o r e than two-fifths of the employees w e r e in establishments with e x ­
penditures equal to between 4 and 9 percent of the gross payroll for private welfare
plans, and about one-eighth in establishments with expenditures of 16 percent or
more.
O v e r two-fifths of the employees in credit agencies other than banks w e r e
in establishments with expenditures under 5 percent.
About half the w o rkers in
the security and c o m m o d i t y brokers, dealers, exchanges, and services and in the
insurance agents, brokers, and service groups w e r e in establishments with e x ­
penditures of less than 4 percent of gross payroll. In the real estate industry,
one-third of the workers w e r e in establishments with no expenditures and onethird in establishments with expenditures equal to less than 4 percent of payroll.
(See table 25.)

Health,

Accident,

and Life Insurance

T h e concept of health, accident, and life insurance used in this survey
e n c o mpasses a variety of benefits, including hospitalization, medical, and surgical
benefits; sickness and accident insurance; accidental death and d i s m e m b e r m e n t
insurance; and life insurance.
In 1961, establishments employing 89 percent of the work e r s in finance,
insurance, and real estate industries reported expenditures for s o m e health, a c ­
cident, and life insurance benefits. T h e highest proportion w a s found in insurance
carriers (98 percent), the lowest in real estate (65 percent).
Insurance p r e m i u m s equal to 1.9 percent of the industries* gross p a y ­
roll purchased health, accident, and life insurance in 1961.
T h e banking and
insurance carriers grojups had the highest relative expenditures of the m a j o r in­
dustry groups studied, 2. 1 percent; the lowest w e r e in the real estate and s e ­
curity and c o m m o d i t y brokers, dealers, exchanges, and services groups, 1.6 p e r ­
cent.
Those establishments which had expenditures for health, accident, and
life insurance, spent an amo u n t equal to 2. 1 percent of gross pay.
Except for
1 .6
percent in security and c o m m o d i t y brokers, dealers, exchanges, and serv­
ices, establishments with expenditures in each of the other industries w e r e within
0 . 1 percentage point of the all-industry figure.
E m p l o y e r expenditures under noncontributory plans w e r e s o m e w h a t higher
than under contributory plans— 2. 4 percent of gross payroll under the f o r m e r and
2. 0 percent under the latter. In each of the industry groups examined, employer
expenditures as a percent of gross pay w e r e higher for establishments with e x ­
penditures under noncontributory plans, but the difference varied f r o m industry
to industry.
(See table 24. )
Translating these expenditures into cents per hour paid for, 4. 9 cents
per hour w a s spent by all establishments and 5. 5 cents by only those with e x ­
penditures. B y m a j o r industry group studied, expenditures w e r e highest in s e ­
curity and c o m m o d i t y brokers, dealers, exchanges, and services, averaging
6.5 cents per hour for all establishments and 6.8 cents for establishments with
expenditures. T h e lowest average expenditure w a s in real estate— 3.7 cents, but
the lowest average for establishments with expenditures w a s in banking and in
credit agencies other than banks— 5. 3 cents.
T h e average for all establishments
with contributory plans, 5.2 cents per hour paid for, w a s lower than that for
establishments with noncontributory plans, 6.2 cents.




42

Pension and Retirement Plans
In 1961, a total of 71 percent of the employees in finance, insurance,
and real estate industries w e r e in establishments with expenditures for pension
and retirement plans. T h e proportions varied considerably a m o n g the industries
studied, f r o m 90 percent in insurance carriers to 38 percent in real estate.
Pension and retirement expenditures equaled 4.5 percent of the gross
payroll of all establishments and 6. 1 percent of those which had expenditures
in 1961.
F o r all establishments, the highest m a j o r industry group payments
found w e r e 6.1 percent in banking and 5.6 percent in insurance carriers; the
lowest w e r e 2.2 percent in real estate and 2. 3 percent in insurance agents,
brokers, and service.
In those establishments in which both the employer and the w o r k e r s c o n ­
tributed, the employer's share equaled 5.8 percent of the gross payroll; in e s ­
tablishments with noncontributory plans, employer expenditures equaled 6. 4 p e r ­
cent. However, in three of the m a j o r industry groups studied, banking; insurance
agents, brokers, and service; and real estate, employer expenditures w e r e higher
in establishments with expenditures for contributory plans.
E m p l o y e r contributions towards pension and retirement benefits a m o u n t e d
to 11.7 cents per hour paid for in all establishments and 16.2 cents in establish­
m e n t s which had expenditures for these plans.
O n an all-establishment basis,
the m a j o r industry groups with the highest expenditures found w e r e security and
c o m m o d i t y brokers, dealers, exchanges, and services— 14.9 cents, banking—
14.5 cents, and insurance carriers— 14.4 cents; those with the lowest w e r e real
estate— 5. 3 cents and insurance agents, brokers, and service— 6.6 cents.
Establishments with expenditures for contributory plans, on the a v e r ­
age, spent 15.4 cents per hour paid for, and those with noncontributory plans,
16.7 cents.
T h e m a j o r industry groups which w e r e found to have the largest
differences between employer expenditures in those establishments with expend­
itures under contributory and noncontributory plans w e r e security and c o m m o d i t y
brokers, dealers, exchanges, and services (18.6 cents per hour paid for under
contributory plans and 25.7 cents under noncontributory plans) and real estate
(16. 3 and 11.9 cents, respectively).

Severance or Dismissal P a y
Expenditures for severance or dismissal pay, although not as c o m m o n as
the private welfare plans already discussed, w e r e reported in each of the m a j o r
industry groups for which separate data are presented.
In all industry groups
combined, 29 percent of the employees w e r e in establishments with severance pay
expenditures. T h e highest proportion— 45 percent— w a s in insurance carriers; the
lowest ones— 16 percent and 18 percent— w e r e in the insurance agents, brokers,
and service and real estate groups, respectively.
Exp r e s s e d as a percent of the gross payroll of all establishments, expend­
itures for severance or dismissal pay w e r e only 0. 1 percent, and in two m a j o r
industry groups studied, banking and security and c o m m o d i t y brokers, dealers,
exchanges, and services, the payments w e r e less than 0.05 percent. In none of
the other m a j o r industry groups w e r e expenditures greater than 0. 1 percent. In
establishments with expenditures, the all-industry outlay w a s equal to 0.3 percent
of gross payroll, and payments by m a j o r group studied ranged f r o m 0. 4 percent
in credit agencies other than banks; in insurance agents, brokers, and service;
and in real estate to 0.1 percent in banking.




43

Severance pay expenditures w e r e 0.2 cent per hour paid for by all e s ­
tablishments and 0.7 cent for only those having such expenditures.
T h e highest
all-establishment average found for any m a j o r industry group w a s 0. 3 cent; on
an establishment-with-expenditures basis, figures ranged f r o m 1.6 cents in in­
surance agents, brokers, and service to 0. 4 cent in banking.

Savings and Thrift Plans
Savings and thrift plans are arrangements under which w o r k e r savings
are supplemented by c o m p a n y contributions.
Considerable variation m a y exist
a m o n g companies as to plan provisions, particularly in reference to vesting and
disposition of employer contributions.
Savings and thrift plans w e r e not c o m m o n in the finance, insurance, and
real estate industries. Only 3 percent of the work e r s in these industries w e r e
in establishments which had expenditures for such plans. T h e highest proportions
w e r e in banking and credit agencies other than banks (both 5 percent); the lowest
w e r e in insurance agents, brokers, and service (1 percent) and insurance c a r ­
riers (2 percent).
E m p l o y e r contributions for savings and thrift plans w e r e equal to 0.2 p e r ­
cent of the gross payroll of all establishments studied. T h e only m a j o r industry
group studied separately which had higher expenditures w a s banking, in which an
a m ount equal to 0.4 percent of the all-establishment gross payroll w a s spent for
these plans.
In cents per hour paid for in all establishments, the all-industry
average w a s 0. 4 cent, with the highest m a j o r industry group average found in
banking (1.0 cent) and the lowest in insurance carriers (less than 0.05 cent).
Figures for only those establishments which had expenditures do not m e e t p u b ­
lication criteria.

Stock Purchase Plans
Expenditures for stock purchase plans w e r e found in establishments
employing only 2 percent of the workers in the finance, insurance, and real
estate industries.
In the sample selected, no firms in the insurance agents,
brokers, and service group had expenditures for a stock purchase plan.
Th e
highest m a j o r industry group proportion found w a s the 9 percent in credit a g e n ­
cies other than banks.
In all studied industries combined, expenditures for stock purchase plans
equaled 0.1 percent of the all-establishment gross payroll and a m o u n t e d to 0.1 cent
per hour paid for. Data for establishments with expenditures do not m e e t p u b ­
lication criteria.




T a b le

22.

P e rce n t of A ll

1

E m p lo y e e s

E s t a b lis h m e n t s

W it h

in

F in a n c e ,

E x p e n d it u r e s

b y In d u s t r y

fo r

G rou p,

T o ta l
In d u s t r y

a c c id e n t ,

w e lfa r e
p la n s

A ll
B a n k in g

and

Se ve ra n c e
o r

d is ­

S a v in g s
and

S to ck
p u rch ase

m is s a l

t h r ift

in s u r a n c e

p la n s

pay

p la n s

p la n s

88. 8

71. 0

29. 4

3. 4

2. 1

85. 3

26.

5. 4

0. 5

b a n k s -----------

93. 9

84. 3

26.

9
9

5. 4

.

6

b a n k s ----------------------------

93. 9

9 1 .9

68.

5

29. 1

5. 3

8.

9

8
98. 2
86. 7
64. 8

6 1.4

2 3 .9
44. 9

2. 7

.9

8 9 .9
5 1 .0

1. 6

1. 9

16. 3

1. 3

6

3. 2

and

e xch an ge s,

and

sto c k

o th e r

and

s a v in g s

th a n

c o m m o d ity

b ro k e rs,

d e a le r s ,

s e r v i c e s -------------------------------------------

c a r r ie r s
a ge n ts,

95.

----------------------------------------------------------b ro k e rs,

and

E x c lu d e s

2 In c lu d e s
p r e s e n t a t io n .
In c lu d e s




n o n o ffic e
d a ta

fo r

in d u s t r ie s

8

95.

98. 7

88. 5
66. 9

s e r v i c e -----------

e s t a t e -----------------------------------------------------------------------------

3

P e n s io n
r e tir e m e n t

94. 5

In s u r a n c e

1

lif e

9 0 .9

In s u r a n c e
R e a l

In d u s t r y

P la n s ,

9 8 .9
98. 7

a g e n c ie s

S e c u r it y

R e a l E sta te

---------------------------------------------------------------------------------

C o m m e r c ia l
C r e d it

2
1

and

and

W e lfa r e

-----------------------------------------------------

in d u s t r ie s

3

3

P r iv a te
1961

H e a lth ,

p r iv a t e

group

In s u r a n c e ,

17.

3 7 .9

2. 7

s a le s m e n .
v a c a t io n
not

and

sh ow n

h o lid a y

fu n d s,

s e p a r a t e ly .

w h ic h

w ere

not

re p o rte d

w it h

s u ffic ie n t

fre q u e n c y

to

w arra n t

se p a ra te

T a b l e 23.
E m p l o y e r E x p e n d i t u r e s f o r P r i v a t e W e l f a r e P l a n s in F i n a n c e , I n s u r a n c e , a n d R e a l E s t a t e I n d u s t r i e s ,
All E m p l o y e e s , 1 All E s t a b l i s h m e n t s a n d E s t a b l i s h m e n t s W i t h E x p e n d i t u r e s , b y I n d u s t r y G r o u p
1961

t

A l l e s t a b lis h m e n t s
In d u s t r y

grou p

H e a lth , a c c i ­
d e n t, a n d lif e

T o t a l3

P e n sio n an d
re tir e m e n t
p la n s

in s u r a n c e

E s t a b l i s h m e n t s w i t h e x p e n d i t u r e s f o r 2—

Se ve ra n ce o r
d is m is s a l pay

Sto ck

S a v in g s an d
t h r ift p la n s

P e rce n t of g ro ss

A l l in d u s t r ie s
B a n k in g

5-----------------------------------------------------

6.

P e n s io n an d

in s u ra n c e

r e tir e m e n t
p la n s

Se ve ran ce o r
d is m is s a l pay

p a y r o ll

0. 2

0. 1

7. 4

2. 1

6. 1

0. 3

(6 )

0. 4

(6 )

(6 )

.5

4

1 .9

0. 1

.

2

2. 2
2. 1
2. 0

7. 1

5 .9
4 .0

9. 3
9 .2

0. 1
. 2
. 4

1.6
2. 1

1

4. 1

1.6

(6 )
. 2

5 .4

1.6
2. 1
2. 0
2. 1

5. 8
6. 2

1 .7

(6 )
. 1
. 1

.

4. 4

I n s u r a n c e a g e n t s , b r o k e r s , a n d s e r v i c e _______
R e a l e s t a t e -------------------------------------------------------------------------

0. 1

8.0

S e c u r it y a n d c o m m o d it y b r o k e r s , d e a le r s ,
e x c h a n g e s , a n d s e r v i c e s __________________________
I n s u r a n c e c a r r i e r s ___________________________________

4 .5

6. 1

5. 5

b a n k s _______
C r e d i t a g e n c i e s o t h e r t h a n b a n k s _________________

1 .9

2. 1
2.0

6.

s to c k s a v in g s

9

9. 3
9 .2

5_________________________________________________

C o m m e r c ia l an d

H e a lth , a c c i ­
d e n t, a n d lif e

T o t a l4

p u rch ase
p la n s

3 .6
5 .6
2. 3
2. 2

.

1

(6 )

0. 2

6.8

(6 )

5 .7

n

8. 0
4. 8
.

(6 )

1

P e r c e n t o f s t r a ig h t - t im e

7. 0
5. 7

.

2
2
4

4. 4

.
.

4 .8

. 4

p a y r o ll

A l l i n d u s t r i e s 5----------------------------------------------------

7. 0

1. 9

4 .6

0. 1

0. 2

0.1

7 .4

2. 1

6. 2

0. 3

5------------------------------------------------------------------------------

9 .4

6. 1
6.0

(6 )

0 .4

(6 )

9. 4

6. 5

1 .9

4 .0

0. 1

2. 2
2. 1
2. 1

7. 1

9. 3

2. 1
2. 0

7 .0
5. 8

0. 1
. 2
. 4

5. 5
8. 0
4. 4
4. 1

1. 6
2. 1
1. 8
1. 6

3 .6
5 .7
2. 3
2. 3

.
.
.
.

B a n k in g

C o m m e r c ia l and sto c k

s a v in g s

b a n k s __

_

_

C r e d i t a g e n c i e s o t h e r t h a n b a n k s _________________
S e c u r it y a n d c o m m o d it y b r o k e r s , d e a le r s ,
e x c h a n g e s , a n d s e r v i c e s __________________________
I n s u r a n c e c a r r i e r s ______________________
______
I n s u r a n c e a g e n t s , b r o k e r s , a n d s e r v i c e _______
R e a l e s t a t e ------------------------------*_
__________________________

.5
. 2

(6 )

1
1
1
1

.

9. 3

n

0.2
(6 )
(6 )

(6 )

5 .7

1 .7

5. 9

.

8. 1

.

2
2

4 .8
5 .4

2. 1
2. 0
2. 1

6. 2
4. 4

. 1

2

(6 )
. 2

6. 8

.
.

4

4 .8

4

C e n t s p e r h o u r p a id fo r

5----------------------------------------------

1 7 .9

4 .9

1 1 .7

0. 2

0 .4

0.1

1 9 .4

5 .5

16.

5_________________________________________________

22. 3

21.8

0. 1
. 1

1.0
1. 1

1 7 .0

22.0

0. 4
. 4

.

3

.4

17. 7

5. 0
5. 3

1 6 .6

4 .9

0.1
. 1
!6

5. 3

1 6 .7

1 4 .5
14. 1
10. 4

2 2 .5

C o m m e r c i a l a n d s t o c k s a v i n g s b a n k s _______
C r e d i t a g e n c i e s o t h e r t h a n b a n k s _________________

5. 0
4. 7

14. 9

1. 1

2 2 .5
20. 4
12. 3

6.

5
5 .4

14. 9
14. 4

.6

(6 )

2 3 .5

6. 8

6. 6

(6 )

. 1

20.6

4. 9
3 .7

.2
. 3
. 3
.2

1 3 .7

5 .5
5. 6

24. 2
16. 0
12. 4

1 3 .6

5. 4

1 3 .0

.8
.6
1.6
1.0

A ll in d u s t r ie s
B a n k in g

S e c u r it y
exchan
In s u r a n c
In s u r a n c

a n d c o m m o d it y b r o k e r s , d e a le r s ,
g e s , a n d s e r v i c e s __________________________
e c a r r i e r s ________________________________
e a g e n ts, b r o k e rs , an d s e r v ir p

R e a l e state

----------------------------------------------------------------

9 .5

5. 3

_

.6
. 1

.

2

2

0 .7

C e n t s p e r p la n t m a n - h o u r
A l l i n d u s t r i e s 5_________________________________

1 9 .5

5. 3

1 2 .7

0. 2

0. 5

0.2

21.2

6.0

1 7 .8

0.8

5_________________________________________________

24. 4

C o m m e r c i a l a n d s t o c k s a v i n g s b a n k s _______
C r e d i t a g e n c i e s o t h e r t h a n b a n k s _________________

23. 9
1 8 .0

5. 5
5. 1
5. 3

1 5 .9
15. 4

0. 1
. 1

1. 1
1. 2

18. 7
18. 3

0. 4
. 4

. 4

.5

24. 7
24. 2
1 9 .0

5 .8
5. 5

11.2

0.1
. 1
.6

5. 7

16.0

1. 2

24. 4

7 .0

16.

2

. 7

5 .9
5. 3

1 5 .9
7. 1

. 3
. 3
. 2

(6 )

25. 4
22. 7

7. 3

22. 5

(6 )
. 1
_

26. 3
1 7 .7

. 9
.7

13. 6
1 4 .0

1. 7

B a n k in g

S e c u r it y a n d c o m m o d ity b r o k e r s , d e a le r s ,
e x c h a n g e s , a n d s e r v i c e s __________________________
I n s u r a n c e c a r r i e r s ___________________________________
In s u r a n c e a g e n ts, b r o k e r s , a n d s e r v i r p

13. 3
10. 1

R e a l e s t a t e ______________________________________________

1
3

E x c lu d e s

n o n o ff ic e

E x p e n d itu r e

d a ta

3. 9

or

5
6

does not add
w a s u se d fo r

.

6

5.

.6
. 1

.

6.0
6. 1
5. 8

1 4 .8
1 4 .5

2

1.0

s a le s m e n .

fo r

s a v in g s

and

t h r if t

p la n s

and

In c lu d e s
e x p e n d itu r e s
fo r
v a c a t io n
a n d h o lid a y
id e n t if ie d in s o m e r e p o r t s ,
w h ic h a r e n o t in c lu d e d h e r e
D e ta il
hou rs base

1

to t o t a l a s
e a c h it e m .

som e

re p o rte d

sto c k
fu n d s,
i n th e

p u rch ase

p la n s

w h ic h
w ere
c o m p o n e n ts.

e x p e n d itu r e s

w ere

not

in

e s t a b lis h m e n t s

re p o rte d

in c lu d e d

in

th e

w it h

e x p e n d itu r e s

w it h

s u ffic ie n t

to ta l

but

not

in

fre q u e n c y
th e

fo r
to

su ch

p la n s

w arran t

c o m p o n e n ts.

See

do

se p a ra te

not

m eet

p u b lic a t io n

p r e s e n t a t io n ;

fo o tn o te s

2

and

3

and

above.

c r it e r ia .

e x p e n d itu r e s

fo r

F u rth e rm o re ,

b e n e fit s
a

d iffe r e n t

not

fu lly

p a y r o ll

In c lu d e s in d u s t r ie s n o t s h o w n s e p a r a t e ly .
L e s s th a n 0 .0 5 p e r c e n t o r 0 .0 5 c e n t.

N O T E :

B ecau se

of




r o u n d in g ,

su m s

of

in d iv id u a l

it e m s

m ay

not

equal

t o ta ls .

^
in

T a b le

24.
E m p l o y e r E x p e n d it u r e s f o r H e a lth , A c c id e n t , a n d L if e In s u r a n c e a n d P e n s io n a n d R e t ir e m e n t P la n s in F in a n c e ,
In s u r a n c e , a n d R e a l E s t a t e In d u s t r y E s t a b li s h m e n t s W it h E x p e n d it u r e s f o r S u c h P la n s , A l l E m p l o y e e s , 1
b y C o n t r ib u t o r y a n d N o n c o n t r ib u t o r y P la n s a n d In d u s t r y G r o u p , 1961

P e rce n t of g ro ss
In d u s t r y

P e r c e n t o f s t r a ig h t - t im e

p a y r o ll

p a y r o ll

C e n t s p e r h o u r p a id f o r

ON

*

C e n t s p e r p la n t m a n - h o u r

group
N o n c o n t r ib u to r y

C o n tr ib u to r y

C o n t r ib u to r y

N o n c o n t r ib u t o r y
H e a lth ,

C o n t r ib u to r y

a c c id e n t ,

A l l in d u s t r ie s 1
2-------------------------------------------------------

2 .0

2 .4

2 .0

2. 4

B a n k i n g 2 ------------------------------------------------------------------------------C o m m e r c i a l a n d s t o c k s a v i n g s b a n k s --------------

2 .0
2 .0

2. 6
2. 3

2 .0
2. 0

2 .6
2. 3

C r e d i t a g e n c i e s o t h e r t h a n b a n k s ----------------------------S e c u r it y a n d c o m m o d it y b r o k e r s , d e a le r s ,
e x c h a n g e s , a n d s e r v i c e s --------------------------------------------

1 .8

2 .7

1 .8

a n d lif e

2 .7

C o n t r ib u to r y

5 .2

6 .2

5. 7

4 .9
4 .8
4. 7

6. 1

5 .4

6 .7

5. 3
7 .2

5. 3
5. 1

5 .8
7 .7

6 .8
6 .0
6. 1
5. 3

8 .8
6. 3

1. 5
2. 1

2. 1
2. 4

6. 3

8 .2

2 .4

1 .9
1. 8

2 .0

2. 1

5 .5
5. 6

5 .7

2. 1
2 .5

1 .9

2 .5

4 .9

5 .9

A l l i n d u s t r i e s 2 -----------------------------------------------------

5 .8

6 .4

5 .8

6 .4

15. 4

B a n k i n g 2 ------------------------------------------------------------------------------

7 .5
7 .4

6 .9
6 .8
6 .0

7 .5
7. 5
5 .6

7 .0

17. 1

6 .9
6 .0

1 6 .9
14. 9

6. 1
7 .0

4 .7

1 8 .6
14. 3

c a r r i e r s ____________________________________
a g e n t s , b r o k e r s , a n d s e r v i c e --------------

R e a l e s t a t e ------------------------------------------------------------------------

N o n c o n t r ib u to r y

in s u ra n c e

1 .5
2. 1

In s u r a n c e
In s u r a n c e

2. 1

N o n c o n tr ib u to r y

5 .5

6. 7

5 .9
6. 3

P e n s io n a n d r e t ir e m e n t p la n s

C o m m e r c i a l a n d s t o c k s a v i n g s b a n k s -------------C r e d i t a g e n c i e s o t h e r t h a n b a n k s ----------------------------S e c u r it y a n d c o m m o d ity b r o k e r s , d e a le r s ,
e x c h a n g e s , a n d s e r v i c e s --------------------------------------------

5. 5
4. 7

c a r r i e r s ---------------------------------------------------------a g e n t s , b r o k e r s , a n d s e r v i c e --------------

E x c lu d e s n o n o ff ic e s a le s m e n .
In c lu d e s in d u s t r ie s n o t s h o w n

T a b le

1 6 .9
1 6 .5

25.

1 4 .9
2 5 .7

1 5 .6

5. 5
4 .5

4. 3

14. 1

1 7 .9
11. 3

5 .5

4 .6

16. 3

1 1 .9

D i s t r i b u t i o n o f A l l E m p l o y e e s 1 in F i n a n c e , I n s u r a n c e , a n d R e a l E s t a t e I n d u s t r i e s b y P r i v a t e
a s a P e r c e n t o f G r o s s P a y r o l l, b y In d u s t r y G r o u p , 1961

in a ll

No
p r iv a t e

e s t a b lis h ­
m e n ts

w e lfa r e
p la n
expen­
d it u r e s

W e lfa r e

16. 1
2 7 .9
1 9 .8
12. 3

15. 4
17. 8

1 2 .8

P r iv a te

Under
1

1
and
under

2

3

w e lfa r e p la n

4

5

6

e x p e n d itu r e s
7

8

as

P la n E x p e n d it u r e s

w it h —

a p e r c e n t o f g r o s s p a y r o ll o f—
9

10

3

4

6

7

8

Q

in

11

100. 0

9. 1

6 .9

6. 2

5. 8

7. 1

7. 6

8. 2

9. 2

5. 7

5. 5

5 .4

4. 5

B a n k i n g 2 ----------------------------------------------------C o m m e r c ia l an d sto c k s a v in g s
b a n k s -------------------------------------------------C r e d it a g e n c ie s o th e r th a n
b a n k s --------------------------------------------------------

100. 0

1. 1

3. 2

3. 3

5. 1

3. 6

10. 4

7. 0

7. 5

7. 6

8 .9

4. 8

100. 0

1 .3

3. 6

3. 3

5. 3

3. 9

9. 5

7. 7

7. 2

7. 3

9 .4

100. 0

6. 1

6. 2

7. 6

6. 6

14. 0

10. 6

7. 8

3. 8

6. 2

100. 0

4. 2
1 .3

10. 5
2. 8

1 1 .9
4. 7

1 1 .5

14. 8

4. 3

6. 6

6. 7

100. 0

2 .9

4 .9

8. 3

11. 7

17. 6

100. 0
100. 0

1 1 .5

14. 1

10. 8

1 3 .4

14. 5

5. 4

4. 1

4. 3

33. 1

11. 1

8. 8

6. 8

7. 1

4. 1

6. 9

3. 3

—

2

11

12

13

14

15

16
and

A l l i n d u s t r i e s 2 --------------------------

S e c u r it y

20. 1

6. 2
7 .0

P e r c e n t o f e m p lo y e e s in e s t a b lis h m e n t s

grou p

1 8 .6
1 8 .2

18. 5
1 6 .0

s e p a r a t e ly .

E m p lo y e e s
In d u s t r y

18. 4

1 8 .7

4 .5

5 .4

1
2

1 6 .9

4. 3

5 .4
4. 4

R e a l e s t a t e ---------------------------------------------------------------------------

In s u r a n c e
In s u r a n c e

1 6 .7

5

over

13

14

15

16

4. 7

3. 1

2. 0

2. 0

1 .5

5. 6

6. 7

6 .9

5. 8

4. 3

0. 2

1. 6

12. 3

5. 1

6 .9

5. 9

6. 1

4. 5

. 3

1 .5

1 1 .5

4. 0

4. 7

2. 2

10. 9

. 8

1. 6

1. 6

_

5. 1

3 .9
5. 8

3. 7
3 .5

2. 9
8. 0

3. 6
6. 6

3. 6
4. 1

1. 1
4. 7

1 .0
1 .6

3. 8
4. 6

2. 6
2. 6

3 .5
4. 3

3. 5
4. 7

6. 1
5. 7

5. 1

1 .6

1. 1

. 7

1. 7

1 .0
. 6

1 .4

.9

1 .4
.4

_

3. 1

. 7

1 .0

12

a n d c o m m o d ity b r o k e r s ,

d e a le r s , e x c h a n g e s, an d
s e r v i c e s -------------------------------------------------I n s u r a n c e c a r r i e r s ------------------------------In s u r a n c e a g e n t s , b r o k e r s , a n d
s e r v i c e ---------------------------------------------------R e a l e sta te

-----------------------------------------------

1

E x c lu d e s

2

In c lu d e s

NOTE:

n o n o ffic e
in d u s t r ie s

s a le s m e n .
n o t s h o w n s e p a r a t e ly .

B e c a u s e of r o u n d i n g ,




sums

of individual i t e m s m a y

n o t e q u a l totals.

Table 26.

Distribution of All E m p l o y e e s 1 in Finance, Insurance, an d R e a l Estate Industries b y Health, Accident, and
Life Insurance E x penditures as a P e r c e n t of G r o s s Payroll, by Industry Group, 1961
P e r c e n t of e m p l o y e e s

Employees
in all
establish­

Industry gr o u p

N o health,

Health,

accident,
o r life

ments

1

in e s t a b l i s h m e n t s w i t h —

a n d life i n s u r a n c e e x p e n d i t u r e s a s a p e r c e n t of g r o s s p a y r o l l of—

2

1
and
under
2

Under

insurance
expenditures

accident,

4

3

5

6

7

8

10

9

and
3

4

5

6

7

8

9

10

0.5

over

All i n d u s t r i e s 1
2-----------------

100.0

11.2

16.4

34. 2

21.7

8. 8

3. 4

2. 2

1.0

0. 3

0.2

B a n k i n g 2--------------------------------

100.0

5. 5

12.8

34. 1

30. 0

11. I

4.0

1. 5

0. 2

0.4

0.5

100.0

6. 1

13. 0

35. 0

30.7

11.4

2.0

.9

.2

.4

.3

_

_

100.0

8. 1

19.4

35. 8

21.6

8.7

2.5

2.5

.4

_

_

_

1.0

s e r v i c e s ------------------------------

100.0

4. 2

3. 3

7.0

1. 7

1.9

.7

.5
_

_

20. 7

.3
4. 5

0.5

1.8

36.2
47.4

8. 3

100.0

31.9
13. 1

14. 2

I n s u r a n c e c a r r i e r s ___________________

1. 1

.2

100.0
100.0

13. 3
35.2

20.8
16. 3

23. 3
17.8

26. 1
14. 1

12. 1

3. 3
5.6

1.0

_

_

_

_

.3

1.7

.3

.2

Commercial

and stock savings

b a n k s -----------------------------Credit a gencies other than
b a n k s ---------------------------------Security a n d c o m m o d i t y brokers,
dealers, e x c h a n g e s , a n d

I n s u r a n c e agents, b r o k e r s , a n d
s e r v i c e --------------------------—
R e a l e s t a t e -----------------------------

8.6

_

.7

0. 2

"

'

1

Excludes

nonoffice

2

Includes

industries

NOTE:

Because

salesmen.
not

shown

of r o u n d i n g ,

separately.

sums

of i n d i v i d u a l i t e m s m a y

T a b l e 27.

n o t e q u a l totals.

D i s t r i b u t i o n of A l l E m p l o y e e s 1 in F i n a n c e , I n s u r a n c e , a n d R e a l E s t a t e I n d u s t r i e s b y P e n s i o n a n d
R e t i r e m e n t E x p e n d i t u r e s a s a P e r c e n t of G r o s s P a y r o l l , b y I n d u s t r y G r o u p , 1 9 6 1

P e r c e n t of e m p l o y e e s in e s t a b l i s h m e n t s w i t h —
Employees
in all
establish­

Industry g roup

P e n s i o n a n d r e t i r e m e n t e x p e n d i t u r e s a s a p e r c e n t of g r o s s p a y r o l l of—

N o pension
1

or retire­
ment ex­

Under

penditures

ments

1

2

3

4

and
under
2

‘

'

"

3

4

5

5

6

7

6

7

8

8

10

11

~

“

~

"

■

9

10

11

12

9

12

13
and

13

over

A l l i n d u s t r i e s 2_________________

100.0

29.0

3.0

3.8

7.4

9. 1

8.7

8. 2

6. 5

4.9

6.7

2.8

3.7

1.9

1.4

2.7

B a n k i n g 2--------------------------------

100.0

14.7

1.9

1.0

9. 3

9.5

8. 3

6.5

11.9

5.9

10.0

4.4

7.6

2.6

1.0

5.5

C o m m e r c i a l a n d stock savings
b a n k s ------------------------------

100.0

15.7

1.5

1. 1

10. 2

7.6

8. 5

6.8

12.9

6. 3

10.2

3. 2

8.2

2. 3

1.0

4. 6

100.0

31.5

1.5

7. 3

15.2

2.0

6.9

7. 0

13.0

3. 6

4. 5

2.0

.4

1. 2

1. 1

2.8

100.0
100.0

38.6
10. 1

5. 1
3. 3

4. 0

6.6
4. 1

9.8
13. 0

8. 7
14.0

1. 5
13.8

4. 8
5.5

5. 0
7.6

2. 1

3. 3

9. 3

3.7
4.0

3.5
4. 3

.7
3.6

2.5
2. 2

3.4
1.8

100.0
100.0

49.0
62. 1

5.8
3.7

6.6

6. 5

7.6

5. 5

10. 9

1. 7

_

3.7

.2

7. 4

2.8

3. 3

.9

2. 5

1.4

.3
1.0

1.4

7. 5

.2
.5

.6

5.8

Credit agencies other than
b a n k s ---------------------------------Security a n d c o m m o d i t y b r okers,
dealers, exc h a n g e s , a n d
s e r v i c e s -----------------------------I n s u r a n c e c a r r i e r s ------------------I n s u r a n c e agents, b r o k e r s , a n d
s e r v i c e -------------------------------R e a l e s t a t e _____________________________

'

1
2

E x c l u d e s nonoffice
Includes industries

NOTE:

salesmen.
not s h o w n

B e c a u s e of rounding,




separately.

s u m s of individual items m a y not equal totals.

1. 1

Table 28.

Distribution of All E m p l o y e e s 1 in Finance, Insurance, and R e a l Estate Industries b y Private We l f a r e P l a n Expenditures
in Cents P e r H o u r P a i d For, b y Industry G roup, 1961
P e r c e n t of e m p l o y e e s

Employees
in all
establishments

Industry group

No
private
welfare
plan
expenditures

100. 0

A l l i n d u s t r i e s 1 --------------2

in e s t a b l i s h m e n t s w i t h —

P r i v a t e w e l f a r e p l a n e x p e n d i t u r e s in c e n t s p e r h o u r p a i d f o r of
5
Under
5

12. 6

2
5

20

15

10

and
under
10

13. 4

9. 1

00

J
5

30

45

40

5b
and

35

30

13. 0

17. 5

45

40

25

8. 8

7. 6

5.9

3. 4
2. 7

20

15

50

over

2. 7

1. 3

4. 6

0. 8

2. 4

9. 1

100. 0

1. 1

7. 6

9.0

20. 2

14. 4

16. 1

11. 8

5. 0

b a n k s -----------------------------

100. 0

1. 3

7.9

9.4

19. 4

14. 6

16. 9

11. 4

5. 2

2. 6

.8

2. 5

7. 7

Credit a g e n c i e s other than
b a n k s ---------------------------------

100. 0

6. 1

16. 8

18. 4

16. 5

10. 4

6. 7

9.0

8. 7

1. 0

1. 9

.3

4. 0

B a n k i n g 2 -----------------------------C o m m e r c i a l and

Security and
dealers,

stock savings

c o m m o d i t y brokers,

exchanges,

and
100. 0

4. 2

12. 0

16. 7

12. 3

14. 0

8. 4

4. 4

3. 8

4. 6

4. 7

5. 1

9. 5

I n s u r a n c e c a r r i e r s -----------------I n s u r a n c e agents, b r o k e r s , a n d

100. 0

1. 3

7. 3

9.4

19. 4

22. 2

8. 9

10. 1

8. 7

6. 1

4. 1

1. 2

1. 6

s e r v i c e -------------------------------

100. 0

11.4

4. 1

5. 1

4. 5

2. 2

5. 5

13.9

16. 5

2. 3

1. 7

3.9

.1

1. 8
3. 3

1. 1

100. 0

25. 0
22. 3

26.0

R e a l e s t a t e ----------------------------

11. 5
33. 1

1. 8
3. 0

s e r v i c e s -----------------------------

1
2

E x c l u d e s nonoffice s a l e s m e n .
Includes industries not s h o w n

NOTE:

B e c a u s e of r o u n d i n g ,

separately.

sums

of i n d i v i d u a l i t e m s m a y

Table

29.

n o t e q u a l totals.

D i s t r i b u t i o n of A l l E m p l o y e e s 1 in F i n a n c e , I n s u r a n c e , a n d R e a l E s t a t e I n d u s t r i e s b y H e a l t h ,
a n d L i f e I n s u r a n c e E x p e n d i t u r e s in C e n t s P e r H o u r P a i d F o r , b y I n d u s t r y G r o u p , 1 9 6 1

P e r c e n t of e m p l o y e e s
Employees
in all
establish­
ments

Industry g roup

N o h e a lth,
accident,
o r life
insurance
expenditures

Health,

Under
2

2
and
under
4

accident,

Accident,

in e s t a b l i s h m e n t s w i t h —
a n d life i n s u r a n c e e x p e n d i t u r e s in c e n t s p e r h o u r p a i d f o r of—
4

6

8

10

12

14
and

6

8

10

12

14

over

A l l i n d u s t r i e s 2 ---------------

100. 0

11. 2

10. 9

25. 6

23. 3

13. 4

6. 2

3. 4

2. 3

3. 7

B a n k i n g 2 ------------------------------

100. 0

5. 5

9.9

25. 7

27. 7

17. 5

7. 0

4. 1

0. 8

1.9

100. 0

6. 1

9.9

27. 3

27. 2

18. 9

6. 0

4. 2

.2

.4

100. 0

8. 1

10. 2

34. 7

14. 1

15.0

9.8

4. 0

1.9

2. 1

s e r v i c e s ----------------------------I n s u r a n c e c a r r i e r s -----------------I n s u r a n c e agents, b r o k e r s , a n d

10 0 . 0
100. 0

4. 2

18. 7

13. 4
30. 7

11. 1
10. 5

9. 3
3. 6

8. 5
2. 0

6. 7

8. 7

21. 8
33. 1

6. 3

1. 8

3. 7

6. 0

s e r v i c e ------------------------------R e a l e s t a t e ----------------------------

10 0 . 0
10 0 . 0

13. 3
35. 2

13. 0
12. 4

22. 3

16. 0

3. 7

11. 2

11. 6
5. 1

5. 8

17. 5

12. 5
12. 5

1.8
3. 5

C o m m e r c i a l a n d stock savings
b a n k s ----------------------------Credit agencies other than
b a n k s — ----- ---- — — ------ — --- —
Security a nd c o m m o d i t y brokers,
dealers,

exchanges,

and

1

E x c l u d e s nonoffice s a l e s m e n .

2

Includes industries not s h o w n

NOTE:

B e c a u s e of rounding,




separately.

s u m s of individual items m a y not equal totals.

2. 7

T a ble 30.

Distribution of all E m p l o y e e s 1 in Finance, Insurance, a n d R e a l Estate Industries b y P e n s i o n an d R e t i r e m e n t Expenditures
in Cents P e r H o u r P a i d For, b y Industry G r o u p , 1961
P e r c e n t of e m p l o y e e s

Employees
Industry group

in all
establish­
ments

N o pension
retirement
expendi­
tures

in e s t a b l i s h m e n t s w i t h —

P e n s i o n a n d r e t i r e m e n t e x p e n d i t u r e s p e r h o u r p a i d f o r of—
3
Under
3

and
under
6

6

12

9

15

18

21

24

27

30
and

9

12

15

&

18

21

24

27

30

over

7.4

A l l i n d u s t r i e s 2 ________________

100. 0

29. 0

4. 1

5. 8

11.4

6.

11.4

8. 0

5. 7

5.4

3.4

1.6

B a n k i n g 2 _______________________________
C o m m e r c i a l a nd stock savings
b a n k s ______________________________

100. 0

14. 7

2. 5

3.4

15. 0

8. 5

10.4

16. 0

7. 2

6. 8

4. 2

3. 5

7. 8

100. 0

15. 7

2. 2

3.4

14. 3

8.4

10. 9

17. 4

7. 1

5.7

4. 7

4. 0

6. 1

100.0

31. 5

3. 0

15. 3

7. 0

4. 8

8. 5

12. 2

7. 4

4. 1

.9

.2

5. 1

s e r v i c e s ______________________________
I n s u r a n c e c a r r i e r s ___________________

100. 0
100. 0

38.6
10. 1

4.6
4. 2

2. 0

6. 2

13. 3
20.4

1. 7

2.7

6. 6

6. 9

6.9

2. 2
6. 9

1. 5
1. 6

20.5

13. 7

2. 3
10. 0

4. 2

4. 4

I n s u r a n c e agents, b r o k e r s , a n d
s e r v i c e _______________________________
R e a l e s t a t e ____________________

100. 0

49. 0
6 2. 1

6. 7

7. 5

9. 1

4.8

4. 1

4. 1

4. 2

.9

.5

2. 3

5.9

7. 1

9. 1

3. 2

2. 2

.7

3. 5

6.9
2. 3

"

3.9

Credit agencies other than
Security and c o m m o d i t y brokers,
dealers, e x c h a n g e s , a n d

1
2

100. 0

8.4

E x c l u d e s nonoffice s a l e s m e n .
I n c l u d e s indust ri es no t s h o w n separately.

NOT E :

B e c a u s e of r o u n d i n g ,




sums

of i n d i v i d u a l i t e m s m a y n o t e q u a l totals.

VO

Chapter VII. Composition of Payroll Hours

Chapter II of this bulletin analyzes paid leave in ter m s of the relation
between leave expenditures and payroll or man-hours.
This chapter considers
paid leave f r o m a different point of view; i c o m p a r e s paid leave hours (and plant
t
hours) 8 and total hours paid for. In 1961, paid leave hours constituted 8.0 p e r ­
cent of the total hours for which employees in the finance, insurance, and real
estate industries received pay.
In these industries, paid leave hours accounted
for a slightly larger percent of total hours paid for in the case of supervisors
than in the case of nonsupervisors— 8. 2 percent c o m p a r e d to 7. 9 percent.
Of the
various m a jor industry groups studied individually, insurance carriers and banking
had the highest ratios of paid leave hours to total hours paid for— 9. 1 percent
and 8. 9 percent, respectively, and real estate the lowest— 5. 6 percent. (See
chart 6 and table 31.)
Paid leave hours as a percent of total hours paid for ranged f r o m under
1 percent in s o m e establishments to 16 percent and over in others.
Al m o s t threefifths of the workers w e r e in establishments in which paid leave hours constituted
between 6 and 10 percent of total hours paid for. Clusterings of workers at various
ranges of paid leave hours as a percent of total hours paid for w e r e found in the
individual m aj or industry groups.
Those ranges, and the percent of employees
in establishments with paid leave hours falling within the ranges were: Banking—
6 to 12 percent, 90 percent of the employees; credit agencies other than banks—
5 to 9 percent, 76 percent; security and c o m m o d i t y brokers, dealers, exchanges,
and services— 4 to 10 percent, 81 percent; insurance carriers— 7 to 11 percent,
6 9
percent; insurance agents, brokers, and service— 6 to 10 percent, 62 percent;
and real estate— 5 to 8 percent, 44 percent. (See table 32. )
F o r the finance, insurance, and real estate industries as a whole, the
paid leave hours w e r e distributed a m o n g the several items of leave as follows:
Vacations, 3.7 percent of total hours paid for; holidays, 2.9 percent; sick leave,
1.2 percent; and other leave, 0.2 percent.
Thus, vacations and holidays w e r e
the principal types of leave paid for, accounting for nearly half and over o n e third, respectively, of the total.
In each of the m a jor industry groups studied, vacations w e r e of p r i m a r y
importance. A s a proportion of total hours paid for, paid vacation hours ranged
f r o m 4.0 percentin banking and insurance carriers to 2.9 percent in real estate.
In each of the industry groups, vacation hours as a percent of total hours paid
for w e r e higher for supervisory than for nonsupervisory e mployees.9

8 The term "plant hours, " as used in this survey, covers all paid-for hours spent at the place of work, and in­
cludes such nonwork time as paid rest periods and paid lunch periods.
Plant hours were derived by deducting the
leave hours paid for from the total hours paid for. Although the term "plant hours" is used to maintain consistency
in language with previous studies in this series, it should be remembered that an office is the usual workplace in the
industries under study. Paid leave hours are defined as the number of hours for which pay was received rather than
the time actually spent away from the "plant. " If a worker did not receive full pay for an absence, leave hours
represented the man-hours equivalent to the pay received.
9 Previous bulletins in this series contained a table showing a distribution of employees by number of weeks of
vacation pay. Many of the establishments in the present survey did not maintain the necessary records to permit co m ­
pilation of this information for the finance, insurance, and real estate industries.




50

51

Cat6 PatH us a d Pi L a e H u s a Pret o Ttl Hus Pi FrI Fnne Isrne
hr . ln o r n ad e v o r s ecns f oa or ad o n iac, nuac,
ad Ra Ett Idsre, b E p o e Gop 16
n el sae nutis y m l y e ru, 91

PERCENT

Paid l a e hours
ev

NOTE: Data exclude nonoffice salesmen.




52

Holidays w e r e less important than vacations as a source of paid leave
in the finance, insurance, and real estate industries.
In 1961, 2.9 percent of
the hours paid for w e r e holiday hours, as c o m p a r e d with 3. 7 percent for v a c a ­
tions.
In the major industry groups examined individually, holiday hours as a
percent of total hours paid for ranged f r o m 3. 2 percent in insurance carriers and
3. 1 percent in banking to 2. 1 percent in real estate.
Reflecting the fact that
companies c o m m o n l y have the s a m e paid holiday schedule for both supervisory
and nonsupervisory employees, in none of the industry groups did the figures for
the two employee categories differ by m o r e than 0. 2 percentage point.

Also of interest is the n u m b e r of holidays paid for in 1961.
Estab­
lishments employing 10 percent of the supervisors reported 5 holidays for these
employees; those employing 20 percent reported 6 days; those with 13 percent,
7 days; and those with 10 percent, 8 days.
M o r e paid holidays for supervisors
w e r e c o m m o n in specific industry groups: 24 percent of these employees in s e ­
curity and c o m m o d i t y brokers, dealers, exchanges, and services and 17 percent
in insurance carriers w e r e in establishments granting 9 holidays to supervisors;
2 0 percent in banking and 12 percent in security and c o m m o d i t y brokers, dealers,
exchanges, and services w e r e in establishments with 10 holidays; and 11 percent
in banking and 17 percent in insurance agents, brokers, and service, 11 days.

F o r nonsupervisory employees in all industries combined, the principal
proportions w e r e 6 holidays, 21 percent; 7 days, 11 percent; 8 days, 10 percent;
9 days, 10 percent; and 10 days, 11 percent.
However, 15 percent of the n o n ­
supervisory employees in credit agencies other than banks and 10 percent in real
estate w e r e in establishments with 5 holidays. At the other extreme, 11 percent
in banking w e r e employed in establishments with 11 holidays for nonsupervisory
employees.
(See table 35. )10

Sick leave hours w e r e paid for in each of the maj o r industry groups
studied.
O n an overall basis, sick leave hours constituted 1.2 percent of the
total hours paid for; for supervisory and nonsupervisory employees separately,
the figures w e r e 0.9 and 1.3 percent, respectively.
In the individual groups
studied, all-employee proportions ranged f r o m 1.7 percent in insurance carriers
and 1. 5 percent in banking to 0. 5 percent in real estate.

Other paid leave w a s only a slight proportion of total hours paid for—
0. 2 percent.
Figures w e r e m u c h the s a m e for supervisory and nonsupervisory
employees.
T he highest all-employee proportion in any of the industry groups
studied w a s 0. 3 percent— found in banking and insurance carriers.

10
The method of collecting data on number of paid holidays did not permit tabulations on an alhem ployee
basis.
It should be noted that only about 5 percent of the reports obtained in the survey showed different numbers
of paid holidays for supervisory and nonsupervisory employees. Aside from this factor, differences in the distributions
for supervisory and nonsupervisory employees were the result of some establishments having only one employee group
and others having differing proportions of employees in the two categories.




Table 31.

Employee

Plant H o u r s and Pai d L e a v e H o u r s as P e r c e n t s of Total H o u r s P a i d F o r in Finance, Insurance,
and R e a l Estate Industries, b y E m p l o y e e a n d Industry G r o u p s , 1 1961

Total h o u r s

a nd industry g roup

p a i d for

P a i d leave h o u r s 2
Plant hours
Total

Vacations

Holidays

Sick leave

Other 3

All e m p l o y e e s
A l l i n d u s t r i e s 4 ------------------------------

1 00. 0

92. 0

8. 0

3. 7

2.9

1.2

0. 2

B a n k i n g 4 ------------------------------------------- —
C o m m e r c i a l a n d s t o c k s a v i n g s b a n k s ------

100.0
100. 0

91. 0

4. 0
4. 0

3. 1
3. 1

1. 5
1. 5

0. 3

91. 2

8.9
8. 8

C r e d i t a g e n c i e s o t h e r t h a n b a n k s --------------Security a n d c o m m o d i t y b r o k e r s , dealers,
e x c h a n g e s , a n d s e r v i c e s ------------------------

100.0

92.9

7. 1

3. 6

2. 5

.9

.2

10 0 .
1 00.
100.
100.

0
0
0
0

92 .6

7. 4

3. 4

2. 8

90.9
92. 3
94. 4

9. 1
7. 7
5. 6

4. 0
3. 6

3. 2

1. 1
1.7

2.9
2. 1

1. 0
.5

.2
.3
.1

I n s u r a n c e c a r r i e r s --------------------------------I n s u r a n c e a g e n t s , b r o k e r s , a n d s e r v i c e -----R e a l e s t a t e -------------------------------------------

2.9

.3

(5 )

Supervisory employees
A l l i n d u s t r i e s 4 ------------------------------

10 0 . 0

91. 8

8. 2

4. 3

2. 8

.9

.2

B a n k i n g 4 ---------------------------------------------

100.0

9.5

5. 0

3. 2

100.0
10 0 . 0

9.5

4. 9
4. 2

3. 1
2. 5

1. 2
1.2

0.2

C o m m e r c i a l a n d s t o c k s a v i n g s b a n k s -----C r e d i t a g e n c i e s o t h e r t h a n b a n k s --------------Security a n d c o m m o d i t y b r o k e r s , dealers,
e x c h a n g e s , a n d s e r v i c e s -----------------------I n s u r a n c e c a r r i e r s ---------------------------------

90. 5
90. 5
92.4

.7

.2

4.
4.
4.
3.

0
7
3
2

2. 6
3. 2
2.9
2. 2

1. 0
1. 2
.6
.5

.1
.2
.1

7. 6

.3

10 0 . 0
100.0
100.0
10 0 . 0

92. 3

7. 7

90. 7
92.1
94. 0

9. 3

A l l i n d u s t r i e s 4 ------------------------------

100.0

92.1

7.9

3. 5

2.9

1. 3

.2

B a n k i n g 4 ---------------------------------------------

100.0
100.0

8. 7

3. 8
3. 8

0. 3
.3

3. 3

3. 1
3. 1
2. 5

1. 6
1. 5

100.0

91. 3
91. 3
93. 0

.9

.2

a n d s e r v i c e s ------------------------

100.0

92.6

3. 3

2. 8

1. 1

I n s u r a n c e c a r r i e r s --------------------------------I n s u r a n c e a g e n t s , b r o k e r s , a n d s e r v i c e -----R e a l e s t a t e -------------------------------------------

10 0 . 0
100.0

91. 0
92. 4

7. 4
9.0

3. 2

.2
.3

100.0

94. 5

1. 8
1. 1
.5

I n s u r a n c e a g e n t s , b r o k e r s , a n d s e r v i c e -----R e a l e s t a t e -------------------------------------------

7.9
6. 0

(5 )

Nonsupervisory emplpyees

C o m m e r c i a l a n d s t o c k s a v i n g s b a n k s -----C r e d i t a g e n c i e s o t h e r t h a n b a n k s --------------Security and c o m m o d i t y brokers,
exchanges,

1
2
3
4
5

E x c l u d e s nonoffice s a l e s m e n .
I n c l u d e s o n l y l e a v e h o u r s f o r w h i c h t h e e m p l o y e r m a d e p a y m e n t d i r e c t l y to th e e m p l o y e e .
I n c l u d e s m i l i t a r y , j u r y , w i t n e s s , vo t i n g , a n d p e r s o n a l l e a v e .
Includes industries not s h o w n separately.
L e s s t h a n 0. 0 5 p e r c e n t .

N OTE:

B e c a u s e of rounding,




8. 7
7.0

dealers,

sums

of i n d i v i d u a l i t e m s m a y n o t e q u a l totals.

7. 6
5. 5

Employer

3. 8
3. 5
2.9

2.9
2. 1

c o n t r i b u t i o n s to f u n d s that d i s t r i b u t e p a y m e n t s

to e m p l o y e e s

.1
(5 )

a r e excluded.

Table 32.

P e r c e n t o f e m p lo y e e s in
E m p lo y ­
E m p lo y e e

an d in d u s t r y

grou p

Cn

Distribution of Employees in Finance, Insurance, and Real Estate Industries by Paid Leave H o u r s 1 as a Percent
of Total Hours Paid For, by Em pl oy ee and Industry Groups, 2 1961

e e s in a ll
e s t a b lis h ­
m e n ts

P a id

No
p a id
le a v e
hou rs

Under
1

1
and
under
2

2

3

4

le a v e h o u r s

5

6

as

e s t a b lis h m e n t s w it h —

a p e r c e n t o f t o t a l h o u r s p a id f o r o f—
7

8

9

10

11

12

13

14

15

16
and

3

4

5

6

7

8

9

10

11

12

13

14

15

16

over

A l l e m p lo y e e s
----------

100. 0

B a n k i n g 3 _______________________________
C o m m e r c ia l and sto c k
s a v i n g s b a n k s ------------------------------C r e d it a g e n c ie s o th e r th a n

100. 0

b a n k s __________________________________
S e c u r it y a n d c o m m o d ity b r o k e r s ,
d e a le r s ,

e xch an ge s,

100. 0

.

0 .9

1 .6

_

.

2. 1

2. 1

4 .8

7. 5

1 3 .4

1 4 .8

1 6 .5

1 4 .7

9 .0

4 .9

1 .9

3 .9

0. 3

0. 3

0. 2

1 .5

100. 0

A l l i n d u s t r i e s 3 -----------

0 .8

0 .8

2 .9

1 3 .5

15. 0

21. 7

1 5 .4

14. 0

10. 2

3 .9

1 .5

0. 2

.

. 3

.6

.8

3. 2

1 4 .4

1 4 .6

2 1 .7

15. 1

1 4 .8

9 .5

4. 2

1 .0

_

_

_

.

.

.

0 .8

-

12. 1

6. 2

2. 7

1 .9

1. 3

2 .5

1 5 .8
2 1 .4

7 .7
1 2 .7

2. 3
4. 3

2 .4

. 3
10. 0

.4

1 2 .7

6. 0

9. 0

.8

7 .7
.5

1. 6

10. 1

1 5 .9
6 .8

1. 0
. 2

. 2
. 7

0 .5

0. 1

.6

.9

7. 1

18. 6

23. 0

22. 1

1 .4

0 .5

.9
. 1

1 .4

2 .4

1 1 .2

.9

3. 0

1 4 .5
6. 1

1 5 .7

1 .0

10. 0
1 .6

14. 2

.9

1 4 .9

1 9 .9

.5

8. 3
1 6 .4

18. 5

1 5 .4

7 .4

2 .9
5 .4

17. 3

(4 ) _ .

and

s e r v i c e s ______________________________
I n s u r a n c e c a r r i e r s ----------------------------In s u r a n c e a g e n t s , b r o k e r s ,

100. 0

a n d s e r v i c e __________________________

100. 0

1 .0

R e a l e s t a t e ---------------------------------------------

100. 0

6 .6

2 .7

.9
7. 3

A l l i n d u s t r i e s 3 _______________

100. 0

4. 2

.5

1 .5

2. 0

2. 1

3. 1

7. 1

1 5 .4

12. 5

13. 3

12. 1

8 .8

3. 1

3. 6

2. 1

.6

.9

B a n k i n g 3 _______________________________
C o m m e r c ia l an d sto c k

100. 0

_

0 .6

0. 3

2. 1

2 .8

1 2 .4

12. 5

14. 1

12. 0

14. 1

1 1 .8

5 .9

6. 0

3 .4

1 .5

0 .4

s a v i n g s b a n k s ___________________
C r e d it a g e n c ie s o th e r th a n

100. 0

b a n k s __________________________________
S e c u r it y an d c o m m o d ity b r o k e r s ,
d e a le r s , e x c h a n g e s ,
and

100. 0

1 .0

s e r v i c e s -----------------------------------------------I n s u r a n c e c a r r i e r s ----------------------------In s u r a n c e a g e n t s , b r o k e r s ,

100. 0

10. 2

. 3

100. 0

.8

.9

(4 )

.9

a n d s e r v i c e -----------------------------------------R e a l e s t a t e ---------------------------------------------

100. 0
100. 0

1 .4

.8
3. 3

1 .9
6. 1

2. 1

17. 2

5 .9

4 .6

A l l i n d u s t r i e s 3 -------------------------

100. 0

1 .8

1 .2

1 .4

1 .5

2 .9

B a n k i n g 3 -------------------------------------------------C o m m e r c ia l and sto c k
s a v i n g s b a n k s ___________________
C r e d it a g e n c ie s o th e r th a n

100. 0

(4 )

.

.

0 .5

0. 5

100. 0

(4 )

b a n k s __________________________________
S e c u r it y a n d c o m m o d ity b r o k e r s ,
d e a le r s , e x c h a n g e s ,
and

100. 0

0 .8

s e r v i c e s ______________________________
I n s u r a n c e c a r r i e r s ----------------------------In s u r a n c e a g e n t s , b r o k e r s ,

100. 0
100. 0

a n d s e r v i c e __________________________

1 0 0 ..0
100. 0

S u p e r v is o r y

. 1

100. 0

8 .7

-

_

_
0 .2

e m p lo y e e s

N o n s u p e r v is o r y

.
0 .3

1 .4

0 .9

.6
1 .2

. 3

7. 1

.

2. 3

1 3 .4

1 2 .7

13. 6

12. 1

1 3 .2

1 2 .7

5. 1

5 .8

3. 6

1. 3

.4

3 .9

1 2 .7

25. 2

19. 0

13. 2

10. 5

2. 6

3 .7

1 .5

1 .3

.7

.

1 .8

1. 1
.7

3 .9
1 .8

14. 0

10. 8

14. 9

6. 1

11. 0

10. 2

5 .4

6. 3

2. 5

4. 3

6 .4

8 .9

2 0 .9

1 6 .4

1 2 .9

11. 0

3. 3

5. 7

. 2

2. 8
-

.5

7 .8
10. 2

24. 2

10. 0

1 0 .4

26. 3

2. 5

1 1 .7

7 .6

3. 3

7 .5
4. 7

2 .4

17. 1

2. 0

. 3

.9
2. 1

4 .8

7 .9

14. 1

15. 1

16. 0

1 3 .5

9. 1

4. 1

1 .9

4. 2

. 2

0. 6

4 .7

13. 9

14. 3

24. 1

13. 0

15. 2

8 .5

3. 2

0 .7

0 .5

3. 1

. 2
4 .9

. 5

.6

_

. 2

. 6

. 7
1 .6

.4

. 1

e m p lo y e e s

R e a l e s t a t e ____________________________

o n ly le a v e h o u r s

1 .2
7 .5

In c lu d e s

2
3
4

.

1. 3
.8
3 .4

. 5

.5

.5

5. 1

14. 0

1 4 .8

2 3 .4

13. 1

0. 6

. 3

3. 7

7. 2

17. 0

29. 0

1 4 .8

13. 6

3 .7

1 .6
1 .6

1 5 .5

6. 3

14. 0

1 8 .2

17. 8

1 .9

2 .5

9 .0

17. 1

1 5 .9

1 1 .9
22. 1

2 .9
8. 0

9 .9
9 .5

8 .4

1 7 .8
14. 1

1 7 .9
9 .6

15. 0
7. 3

.4
. 1
6 .9

2 .4
. 1
. 5
5 .8

E x c lu d e s n o n o ffic e s a le s m e n .
In c lu d e s in d u s t r ie s n o t s h o w n s e p a r a t e ly .
L e s s th a n 0. 05 p e r c e n t .
B ecau se

o f r o u n d in g ,




f o r w h ic h th e

. 3
. 1

1

N O T E :

7 .5

1 .9

su m s

e m p lo y e r m a d e p a y m e n t d ir e c t ly to th e e m p lo y e e .

o f in d iv id u a l it e m s m a y n o t e q u a l to ta ls .

17. 1

1 5 .4

8 .4

3. 2

.4

5. 0

. 9

.4

2 .9

10. 8

1 .6
3 .5

2. 2
2. 0

10. 9

6 .7

8. 1

7 .5

2. 8

7 .9

.8

. 5

. 3

7 .7

E m p lo y e r c o n t r ib u tio n s to fu n d s th a t d is t r ib u t e

. 3
.7

0. 3

_

.6

_

_

.

.

.

. 1

.9

.

.

.4

p a y m e n ts to e m p lo y e e s a r e

0. 2
.
. 2

e x c lu d e d .

Table 33.

Distribution of Employees in Finance, Insurance, and Real Estate Industries by Paid Vacation Hours 1 as a Percent
of Total Hours Paid For, by E m pl oy ee and Industry Groups, 2 1961
P e r c e n t o f e m p lo y e e s in

E m p lo y e e s
x - i ii p i w y c c <ailu

y &1uuy

e s t a b lis h m e n ts

P a id
p a id
v a c a t io n
h o u rs

Under
1

v a c a tio n h o u r s

2

1
and
under
2

as

e s t a b l i s h m e n t s w it h —
a p e r c e n t o f t o t a l h o u r s p a id f o r o f—

5

5

6

7

-

“

“

“

4

3

4

“

5

6

7

8

over

0. 1

(4 )

8
and

A l l e m p lo y e e s
A l l i n d u s t r i e s 3 -------------------------

100. 0

2. 1

2. 4

5. 3

B a n k i n g 3 --------------------------------------------------

100. 0

0. 1

0. 1

0. 3

C o m m e r c ia l an d sto c k s a v in g s
b a n k s -----------------------------------------------C r e d it a g e n c ie s o th e r th a n
b a n k s -------------------------------------------------------

100. 0

. 1

. 1

100. 0

1. 3

100. 0

(4 )
. 1

S e c u r it y

and

10. 3

40. 1

31. 4

7. 5

0. 7

8. 3

41. 7

43. 8

5. 4

0. 2

. 2

8. 0

44. 3

42. 3

4. 8

. 2

_

. 1

4. 0

14. 4

46. 7

2 9 .9

3 .0

. 1

0 .4

2. 7

12. 5

16. 5

41. 1

20. 1

.9

4 .0

6. 3

4 0 .0

34. 4

8 .9
16. 5

47. 8
32. 5

'

0. 2

c o m m o d ity b r o k e r s ,

d e a le r s , e x c h a n g e s, a n d
s e r v i c e s -----------------------------------------------In s u r a n c e

c a r r i e r s -----------------------------

In s u r a n c e

a ge n ts,

b ro ke rs,

1 0 0 .0

s e r v i c e ---------------------------------------------------

100. 0

1. 3

1. 7

5. 8

R e a l e s t a t e -----------------------------------------------

100. 0

9. 2

9. 6

10. 8

S u p e r v is o r y

5. 2
13. 7

1 .8

30. 3

2. 3

1. 7

. 2

(4 )

14. 8

4. 8

1. 6

. 1

(4 )

2 .0

. 3

(4 )
. 3

. 1

and

e m p lo y e e s

A l l i n d u s t r i e s 3 _______________

1 0 0 .0

7. 5

.9

3. 7

4. 8

29. 0

2 1 .9

18. 4

7. 5

4. 3

B a n k i n g 3 --------------------------------------------------

1 0 0 .0

0. 8

0. 2

1. 2

4. 0

24. 2

21. 5

24. 2

14. 3

6 .4

3. 1

C o m m e r c ia l an d s to c k s a v in g s
b a n k s ------------------------------------------------

100. 0

. 8

. 3

1. 3

4. 1

25. 7

21. 0

24. 2

1 3 .9

5. 6

3. 2

100. 0

2. 2

. 3

2. 6

5. 0

43. 4

22. 2

1 6 .9

.9

1. 0

1 0 0 .0
100. 0

10. 3

. 5

1. 7

.9

13. 3
1. 3

9 .4
5. 5

23. 3
21. 8

8. 2
30. 6

13. 8
22. 2

14. 6
6. 8

3 .0
6. 3

2 .9

100. 0

5. 2
26. 0

. 4
1 .7

2. 1

. 4
5. 2

37. 6
2 7 .9

30. 3
12. 1

17. 4

9 .9

4. 3
3. 2

2. 1
3. 5

C r e d it a g e n c ie s o th e r th a n
b a n k s ------------------------------------------------------S e c u r it y a n d c o m m o d ity b r o k e r s ,
d e a le r s , e x c h a n g e s, a n d
s e r v i c e s ------------------------------------------------I n s u r a n c e c a r r i e r s ----------------------------In s u r a n c e a g e n ts, b r o k e r s , an d
s e r v i c e ---------------------------------------------------R e a l e s t a t e ----------------------------------------------N o n s u p e r v is o r y

1 0 0 .0

9. 0

5. 6

3. 7

0. 3
1. 6

e m p lo y e e s

A l l i n d u s t r i e s 3 -------------------------

1 0 0 .0

2. 2

2. 8

5. 3

13. 0

46. 4

24. 5

5. 0

. 7

B a n k i n g 3 --------------------------------------------------

100. 0

0. 1

0. 1

0. 4

13. 8

49. 3

3 1 .9

3. 7

0. 8

1 0 0 .0

. 1

. 1

. 3

13. 6

52. 2

30. 0

2. 9

. 8

_

_

_

0. 2

C o m m e r c ia l an d s to c k s a v in g s
b a n k s -----------------------------------------------C r e d it a g e n c ie s o th e r th a n
b a n k s -------------------------------------------------------

100. 0

1. 3

1 .8

6 .9

17. 5

55. 3

1 0 0 .0
100. 0

. 4
. 2

1. 4
1 .4

1 6 .9
3. 1

13. 5
9. 3

s e r v i c e ----------------------------------------------------

1 0 0 .0
100. 0

1. 4
9 .4

2. 1

R e a l e s t a t e -----------------------------------------------

10. 6

7 .9
10. 4

S e c u r it y

1. 3

. 1

45. 2

18. 0

47. 0

29. 2

4. 5
9 .4

. 5

10. 5

54. 0

20. 5

2. 3

16. 7

36. 3

13. 6

2. 0

. 1

a n d c o m m o d ity b r o k e r s ,

d e a le r s , e x c h a n g e s, an d
s e r v i c e s -----------------------------------------------In s u r a n c e
In s u r a n c e

1
2
3
4

15. 7

(4 )

c a r r i e r s ----------------------------a ge n ts, b r o k e rs, and

In c lu d e s o n ly v a c a t io n h o u r s f o r w h ic h th e e m p lo y e r m a d e p a y m e n t d ir e c t ly
E x c lu d e s n o n o ff ic e s a le s m e n .
In c lu d e s i n d u s t r ie s n o t s h o w n s e p a r a t e ly .
L e s s th a n 0. 0 5 p e r c e n t.

N O T E:

B ecau se

o f r o u n d in g ,




to th e e m p l o y e e .

E m p lo y e r

c o n t r ib u t io n s to fu n d s th a t d is t r ib u t e

-

1. 0
1. 3

(4 )

. 1
_

0. 3

(4 )
. 3

v a c a t io n p a y m e n t s to e m p lo y e e s a r e

e x c lu d e d .

s u m s o f in d iv id u a l it e m s m a y n o t e q u a l t o ta ls .
cn
01

Table 34.

Distribution of Employees in Finance, Insurance, and Real Estate Industries by Paid Holiday Hours 1 as a
Percent of Total Hours Paid For, by Em pl o y e e and Industry Groups, 2 1961

o \

P e r c e n t o f e m p l o y e e s in e s t a b l i s h m e n t s w it h —
E m p lo y e e s
in a ll
e s t a b lis h m e n ts

P a id h o lid a y h o u r s

No
p a id
h o lid a y

Under

h ou rs

1

1
and
under
2

a s a p e r c e n t o f t o ta l h o u r s p a id f o r o f—
2

3

4

5
and

"
3

5

4

over

A l l e m p lo y e e s
A l l i n d u s t r i e s 3 --------------------------------------------------

100. 0

3. 1

B a n k i n g 3 ---------------------------------------------------------------------------

100. 0

1. 4

C o m m e r c i a l a n d s t o c k s a v i n g s b a n k s ---------C r e d i t a g e n c i e s o t h e r t h a n b a n k s -------------------------S e c u r it y a n d c o m m o d ity b r o k e r s , d e a le r s ,
e x c h a n g e s , a n d s e r v i c e s ----------------------------------------I n s u r a n c e c a r r i e r s -------------------------------------------------------

100. 0
1 0 0 .0

1. 5
1. 8

1 0 0 .0
1 0 0 .0

-

1 0 0 .0
1 0 0 .0

In s u r a n c e

a ge n ts,

b ro k e rs,

a n d s e r v i c e ----------

R e a l e s t a t e -----------------------------------------------------------------------S u p e r v is o r y

3. 4

12. 0

3 8 .0

29. 2

13. 2

1. 1

8. 4

30. 6

40. 5

7. 6
18. 8

32. 5
59. 8

41. 3
10. 4

2. 1
2. 3

0 .9

17. 1
14. 8
8. 2

. 1

1 .9
1. 5

18. 1
5. 2

30. 8
40. 3

43. 9
32. 3

1. 8
12. 3

1. 2
1 3 .0

13. 8

40. 4
32. 4

29. 0
16. 4

19. 8
11. 2
4. 4

.9
2. 7

20. 8

.

“
_

5. 4

. 7

e m p lo y e e s

A l l i n d u s t r i e s 3 --------------------------------------------------

1 0 0 .0

5 .9

. 7

1 1 .6

38. 7

29. 6

11. 7

1. 6

B a n k i n g 3 _______________________________________________
C o m m e r c i a l a n d s t o c k s a v i n g s b a n k s ----------

1 0 0 .0

1. 3

0. 2

32. 1

41. 6

1 0 0 .0
100. 0

. 2
. 3

33. 2

C r e d i t a g e n c i e s o t h e r t h a n b a n k s -------------------------S e c u r it y a n d c o m m o d ity b r o k e r s , d e a le r s ,

1. 4
2. 4

6. 7
6. 6
19. 4

57. 6

41. 8
14. 3

1 6 .9
15. 5
5. 4

1. 3
1. 4
. 4

10. 2

1. 5

23. 4

45. 3

.9
1 .9
22. 2

.9
-

37. 8
42. 3

2. 2

3 7 .7
23. 3
20. 0

e xch an ge s,

and

s e r v i c e s -----------------------------------------

I n s u r a n c e c a r r i e r s ------------------------------------------------------I n s u r a n c e a g e n t s , b r o k e r s , a n d s e r v i c e ---------R e a l e s t a t e ----------------------------- -----------------------------------------N o n s u p e r v is o r y

100. 0
1 0 0 .0
1 0 0 .0
1 0 0 .0

11. 3
5. 1
1 1 .7
14. 4

3 3 .9

7 .9
14. 6

. 5
3. 1

18. 7
5. 3

2. 1
1 .9

e m p lo y e e s

A l l i n d u s t r i e s 3 --------------------------------------------------

1 0 0 .0

3. 5

3. 0

12. 6

36. 6

29. 4

13. 7

1. 1

B a n k i n g 3 --------------------------------------------------------------------------C o m m e r c i a l a n d s t o c k s a v i n g s b a n k s ----------C r e d i t a g e n c i e s o t h e r t h a n b a n k s -------------------------S e c u r it y a n d c o m m o d it y b r o k e r s , d e a le r s ,
e x c h a n g e s , a n d s e r v i c e s ---------------------------------------I n s u r a n c e c a r r i e r s ------------------------------------------------------I n s u r a n c e a g e n t s , b r o k e r s , a n d s e r v i c e ---------R e a l e s t a t e ------------------------------------------------------------------------

1 0 0 .0
1 0 0 .0
1 0 0 .0

1. 5
1 .7
2. 4

.

10. 4

-

9. 6
20. 1

28. 3
30. 2
57. 3

4 0 .8
41. 3

16. 6
14. 8

2. 3
2. 3

1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0

. 4

2 9 .9
39. 6

45. 6
31. 1

3 7 .9
32. 4

29. 6

. 1
1 .9
13. 2

0. 7
1.
1.
1.
12.

1
2

In c lu d e s o n ly h o l i d a y h o u r s f o r w h ic h th e e m p lo y e r m a d e p a y m e n t d i r e c t l y to th e e m p lo y e e .
E x c lu d e s n o n o ffic e s a le s m e n .

3

In c lu d e s in d u s t r ie s n o t sh o w n

N O T E :

B ecau se

o f r o u n d in g ,




s e p a r a t e ly .

su m s

o f in d iv id u a l it e m s m a y n o t e q u a l to ta ls .

17. 6
6 .0
16. 5
2 0 .0

6
4
3
2

E m p lo y e r

c o n t r ib u t io n s to fu n d s th a t d is t r ib u t e

9 .9

1 6 .9

h o lid a y p a y m e n ts

. 1

9. 5

-

4 .9
21. 3
9 .8
4. 4

to

. 5
3. 2
1. 0

e m p lo y e e s

are

e x c lu d e d .

Table 35.

Distribution of Employees in Finance, Insurance, and Real Estate Industries by N u m b e r of Paid
Holidays, 1 by E m pl oy ee and Industry Groups, 2 1961
P e r c e n t o f e m p lo y e e s in

e s t a b lis h m e n t s p r o v id in g —

E m p lo y e e s
E m p lo y e e

a n d in d u s t r y g r o u p

S u p e r v is o r y

in a ll
e s t a b lis h ­
m e n ts

No
p a id
h o li­
days

P a id h o lid a y s
Under
5

5

572

772

8

872

9

9V2

10

io

72

11

llV 2

12

1272

13
and
over

e m p lo y e e s
100. 0

5 .9

1 .4

10. 2

B a n k i n g 3 -----------------------------------------------------

100. 0

1 .3

0. 4

C o m m e r c ia l and s to c k s a v in g s
b a n k s -------------------------------------------------C r e d it a g e n c ie s o th e r th a n

100. 0

1 .4

. 5

6. 8

100. 0

2 .4

3. 6

14. 2

-

19. 8

2. 2

13. 1

3. 3

10. 3

2. 1

8. 1

0. 5

8. 5

16. 4

3. 1

9. 2

0. 3

14. 8

2. 5

6. 1

0. 1

19. 8

_

17. 1

3. 4

9 .4

. 3

14. 6

2. 7

6. 1

. 1

19. 3

0 .9

3 1 .2

1. 6

24. 9

1. 2

5. 7

. 6

4 .9

-

8. 1
15. 1

. 1

27. 6
9. 8

4. 4
3. 8

23. 6

6. 7

16. 5

6. 7

2. 8

7. 6

. 6

6. 9

b a n k s -------------------------------------------------------S e c u r it y an d c o m m o d ity b r o k e r s ,
d e a le r s , e x c h a n g e s, an d
s e r v i c e s --------------------------------------------------

100. 0

10. 2

c a r r i e r s ------------------------------a ge n ts, b r o k e rs , and

100. 0

.9

.4

s e r v i c e --------------------------------------------------R e a l e sta te
---------------------------------------------

100. 0
100. 0

1 .9
22. 2

2. 0

9. 5
15. 1

N o n s u p e r v is o r y

7

67z

days

A l l i n d u s t r i e s 3 ----------------------------

In s u r a n c e
In s u r a n c e

6

o f—

2. 0

.5
5. 6

0. 5

. 5

2. 0

. 7

. 2

14. 6

1. 8

-

22. 8

4. 9

. 8

1 9 .4

. 9

10. 3
8. 1

5. 0
5. 5

0. 4

7. 3
10. 6

0. 4

4. 1

0. 5

1 .6

_

6 .9

.

1 .7

-

9. 8

-

6. 7

-

1 .9

2. 0

0 .5

3 .9

-

1. 1

-

1 .2

2. 1

12. 2

1 .0

-

. 8

0. 5
. 5

-

3. 3

2 .9
6 .4

3. 6

. 8

7 .9

2. 4

2 .4

5. 1

2. 7

17. 3

-

4 .4
6. 2

. 7

5. 6

-

-

.4

. 6

2. 7

1 .6

1. 7

1. 6

-

1. 1

6. 5

e m p lo y e e s

A l l i n d u s t r i e s 3 ----------------------------

100. 0

3. 5

1 .2

7. 7

0. 4

20. 7

2. 5

10. 8

3. 4

9. 6

2. 6

9. 8

0. 7

10. 5

0. 5

0. 7

4. 6

2. 6

1 .5

B a n k i n g 3 ----------------------------------------------------C o m m e r c ia l and sto c k s a v in g s

100. 0

1 .5

0. 6

6. 4

_

17. 8

3. 1

7. 7

0. 4

13. 8

2. 1

5 .9

0. 3

2 1 .4

.

1 1 .0

_

5. 5

.

2. 4

b a n k s -------------------------------------------------C r e d it a g e n c ie s o th e r th a n

100. 0

1. 7

. 6

6. 3

2 1 .0

b a n k s -------------------------------------------------------S e c u r it y a n d c o m m o d ity b r o k e r s ,

100. 0

2 .4

2. 5

14. 6

d e a le r s , e x c h a n g e s, a n d
s e r v i c e s --------------------------------------------------

-

18. 3

3. 4

8. 2

.4

14. 2

2. 3

5. 8

.4

-

9. 7

-

5. 1

-

2. 6

0 .4

2 9 .2

2. 1

25. 3

. 8

6. 2

.4

6. 2

-

2. 5

0. 6

3. 1

-

1 .0

-

2. 7

2. 0
15. 5

. 7
2. 6

8. 5
12. 0

. 7
7. 2

30. 9
6. 8

2. 5
4. 8

40. 2
13. 0

. 8
1 .0

5. 6

2. 3

2. 0
6. 7

1 .9
7. 8

-

. 7

0. 5
1 .5

-

5. 5

7. 7

.9

23. 4
33. 1

4. 0
1. 7

10. 6
7. 2

6. 0
2. 2

5. 5
5. 1

4. 1
. 1

6 .4
4. 7

4. 1

8 .9
10. 4

. 8

6. 0
3. 6

1. 1

. 8
2. 1

1 .0

5. 5
.5

100. 0

.4

.4

100. 0

. 1

(4 )
. 2

.5

c a r r i e r s ---------------------------- —
b ro k e rs, and

5. 7

.4

s e r v i c e --------------------------------------------------R e a l e sta te
---------------------------------------------

100. 0
100. 0

1 .9
13. 2

2. 0
3. 3

8. 9
10. 3

In s u r a n c e
In s u r a n c e

a ge n ts,

1

In c lu d e s

2
3
4

L e ss

1. 3

E x c lu d e s n o n o ffic e s a le s m e n .
In c lu d e s in d u s t r ie s n o t s h o w n s e p a r a t e ly .

N O T E :

o n ly h o lid a y s

-

f o r w h ic h th e e m p lo y e r m a d e p a y m e n t d ir e c t ly to th e

e m p lo y e e .

E m p lo y e r c o n t r ib u tio n s

to fu n d s th a t d is t r ib u t e

h o lid a y p a y m e n ts to e m p lo y e e s

a re

e x c lu d e d .

th a n 0. 05 p e r c e n t .
B ecau se

o f r o u n d in g ,




s u m s o f in d iv id u a l it e m s m a y n o t e q u a l t o ta ls .

C /l
<1

A p p e n d i x

A .

S u r v e y

M

e t h o d s

a n d

D e f i n i t i o n s

S c o p e of S u r v e y a n d In d u s t r y Classification
Thi s s tudy of e x p e n d i t u r e s for selected s u p p l e m e n t a r y r e m u n e r a t i o n practices c o v e r s
e s t a b l i s h m e n t s op e r a t i n g p r i m a r i l y in the finance, insura n c e , a n d real estate field (Division G
of the 1 9 5 7 edition of the S t a n d a r d Industrial Classification M a n u a l , p r e p a r e d b y the B u r e a u
of the Budget).
T h e finance, ins u r a n c e , a n d real estate field is c o m p o s e d of the following
eight 2-digit m a j o r in d u s t r y groups:
Major Group No,

Title

------------------------------------- Banking
------------------------------------- Credit agencies other than banks
------------------------------------- Security and c o m m o d i t y brokers, dealers,
exchanges, and services
6 3 ------------------------------------- Insurance carriers
6 4 ------------------------------------- Insurance agents, brokers, and service
6 5 ------------------------------------- Real estate
6 6 ------------------------------------- Combinations of real estate, insurance,
loans, law offices
6 7 ------------------------------------- Holding and other investment companies
60
61
62

T a b l e s s h o w i n g in d u s t r y detail p r e s e n t s e p a r a t e data for six m a j o r industry g r o u p s
a n d for o n e i n d u s t r y g r o u p (i. e. , a 3 -digit S I C g r o u p within a 2-digit m a j o r industry group). 1
1
D a t a for o th e r m a j o r g r o u p s a n d s u b g r o u p s did not m e e t publication criteria; w hile not s h o w n
separately, th e y a r e included in figures for b r o a d e r industry groupings.

S u r v e y c o verage extended
relate to the c a l e n d a r y e a r 1961,
office s a l e s m e n .

to the 50 States a n d the District of C o l u m b i a .
a n d a r e for all e m p l o y e e s w i t h the exception of

Data
non­

Collection of D a t a

D a t a w e r e collected p r i m a r i l y b y m a i l questionnaire.
A c o p y of the questionnaire
is r e p r o d u c e d in a p p e n d i x B.
B u r e a u e c o n o m i s t s collected data b y p e r s o n a l visit to large
e m p l o y e r s a n d to a s a m p l e of the n o n r e s p o n d e n t s to t w o m a i l reque s t s for information.
Sampling Procedure

T h e s u r v e y w a s c o n d u c t e d o n the basis pf a highly stratified probability s a m p l e .
D a t a w e r e obtained f r o m e s t a b l i s h m e n t s selected in a c c o r d a n c e wi t h industry, location, a n d
size characteristics.
T h e s a m p l e d e s i g n w a s s u c h as to p e r m i t p r e s e ntation of data o n a
na t i o n w i d e basis for m o s t m a j o r i n d u s t r y groups.

W i t h m i n o r exceptions, the lists of e s t a b l i s h m e n t s f r o m w h i c h the s a m p l e w a s s e ­
lected w e r e t h o s e m a i n t a i n e d b y the State a g e n c i e s a d m i n i s t e r i n g the u n e m p l o y m e n t c o m ­
p e n s a t i o n laws. 12
T h e s e lists s h o w the e m p l o y m e n t , industry classification, a n d location of
all e s t a b l i s h m e n t s c o v e r e d b y t hose l a w s in e a c h State.
Since a n u m b e r of States d o not
include u n d e r s u c h l a w s e s t a b l i s h m e n t s with f e w e r t han four e m p l o y e e s , the s a m p l e did
not include s u c h units.
(See M e t h o d of E s t i m a t i o n for t r e a t m e n t of the e m p l o y m e n t in
s u c h establishments.)

11 T h e data for the 3 -digit group— c o m m e r c i a l and stock savings banks— generally are similar to those for the major industry
group— banking— of which it is a part. Most of banking's e m p l o y m e n t is concentrated in c o m m e r c i a l and stock savings banks.
Different sources were used for a limited n u m b e r of financial institutions not covered b y State u n e m p l o y m e n t c o m p e n s a ­
tion laws.




58

59

W i t h i n e a c h i n d u s t r y grouping, the s a m p l e w a s so selected as to yield the m o s t a c ­
curate e s t i m a t e s poss i b l e w i t h the r e s o u r c e s available.
T his w a s d o n e b y including in the
s a m p l e a g r e a t e r p r o p o r t i o n of large e s t a b l i s h m e n t s than of s m a l l — in general, a n establish­
m e n t ' s c h a n c e of inclusion w a s r o u g h l y p r o p o rtionate to its e m p l o y m e n t - s i z e class.

T h e initial solicitations, either b y m a i l o r p e r s o n a l visit, included s o m e 3, 0 0 0 e s ­
ta blishments.
In all,
usable
replies w e r e obtained f r o m a p p r o x i m a t e l y 1 , 4 5 0 reporting
units w i t h a total of a l m o s t half a million e m p l o y e e s (excluding nonoffice s a l e s m e n ) .
In
s o m e instances, m u l t i e s t a b l i s h m e n t c o m p a n i e s could not r eport s e p a r a t e data for individual
es t a b l i s h m e n t s , as requested; instead, th e y p r o v i d e d data for l a r g e r units, e. g. , the entire
c o m p a n y o r a c o m p a n y division.
C o n s e q u e n t l y , the 1 , 4 5 0 reports obtained contained data
for m o r e than 1 , 4 5 0 e s t a b l i s h m e n t s , including s o m e for w h i c h data w e r e not requested.

M e t h o d of E s t i m a t i o n

D a t a for e a c h s a m p l e e s t a b l i s h m e n t w e r e w e i g h t e d in a c c o r d a n c e with the p r o b a ­
bility of selection of that establis h m e n t .
F o r e x a m p l e , w h e r e 1 e s t a b l i s h m e n t out of 10 w a s
selected in a s i z e - i n d u s t r y class, it w a s c o n s i d e r e d as r e p r e s e n t i n g itself as well as 9 other
es t a b l i s h m e n t s , i. e. , it w a s given a w e i g h t of 10. T h u s , if the e s t a b l i s h m e n t h a d 2, 0 0 0 h o u r s
of vacat i o n leave a n d 100, 0 0 0 h o u r s of paid h o u r s of all classes, it w o u l d contribute 20, 000 v a ­
cation h o u r s a n d 1 , 0 0 0 , 0 0 0 total h o u r s to the final estimate.
W h e r e reports w e r e s u b m i t t e d
for units w h i c h differed f r o m the e s t a b l i s h m e n t s for w h i c h data w e r e requested, appro p r i a t e
a d j u s t m e n t s w e r e m a d e in a s s i g n e d weights.

All e s t i m a t e d figures d e r i v e d f r o m s u c h weigh t i n g p r o c e d u r e s w e r e further adjusted
in a c c o r d a n c e wit h i n d u s t r y e m p l o y m e n t data r e p o r t e d in the B u r e a u of L a b o r Statistics
m o n t h l y e m p l o y m e n t , h o u r s , a n d ea r n i n g s series.
F o r e x a m p l e , if w e i g h t e d r e p o r t e d e m ­
p l o y m e n t in a g iven i n d u s t r y totaled 90, 000, a n d the c o r r e s p o n d i n g e m p l o y m e n t total in the
e m p l o y m e n t , h o u r s , a n d e a r n i n g s series w a s 99,000, r e p o r t e d data w e r e multiplied b y 1.1.

A s n o t e d above, e s t a b l i s h m e n t s with o n e to three e m p l o y e e s , w e r e not included in
the s a m p l e .
T h e s e e s t a b l i s h m e n t s w e r e a c c o u n t e d for in the tabulations b y a s s u m i n g their
e x p e n d i t u r e patterns w e r e the s a m e as those of l arger e stablishments.
E s t a b l i s h m e n t s with
u n d e r four e m p l o y e e s a r e be l i e v e d to h a v e e m p l o y e d in 1961 a bout 10 p e r c e n t of the w o r k ­
ers in the finance, insu r a n c e , a n d real estate industries.

In o r d e r to m i n i m i z e the bias of n o n r e s p o n s e , the s a m p l e returns (obtained b y
p e r s o n a l visit) f r o m the n o n r e s p o n d e n t s to the m a i l inquiry w e r e w e i g h t e d to r e p r e s e n t all
other n o n r e s p o n d e n t s in the s a m e ind u s t r y - size classes.
N o a s s u m p t o n has b e e n m a d e
that
the n o n r e s p o n d e n t s w e r e s i m i l a r to the r e s p o n d e n t s in their e x p e n ditures for the selected
i t e m s studied.

Reporting P r o b l e m s

S e p a r a t e data b y e s t a b lishment, practice, a n d class of e m p l o y e e w e r e collected in
m o s t cases.
H o w e v e r , all c o m p a n i e s s u r v e y e d did not k e e p r e c o r d s in s u c h a m a n n e r as
to b e able to furnish actual figures in this detail, a n d s o m e a p p r o x i m a t i o n s w e r e utilized.
S e v e r a l types of e s t i m a t e s w e r e used.
W h e r e only c o m b i n e d r e c o r d s for s u p e r v i s o r y a n d
n o n s u p e r v i s o r y e m p l o y e e s w e r e kept,
the c o m b i n e d figures w e r e p r o r a t e d o n the basis
of e m p l o y m e n t , m a n - h o u r s , o r payroll, w h i c h e v e r w a s m o s t a p p r o p r i a t e for the i t e m in
question.
H o w e v e r , it w a s i m p r a c t i c a l to u s e this technique for m o s t private w e l f a r e plan
items, a n d for th e s e i t e m s only data for s u p e r v i s o r y a n d n o n s u p e r v i s o r y e m p l o y e e s c o m ­
bi n e d a r e p r e s e n t e d .
In s o m e instances, c o m p a n i e s h a d ex p e n d i t u r e r e c o r d s only for g r o u p s
of practices.
H e r e , too, e s t i m a t i n g t e chniques w e r e u s e d to allocate the total e x p e n ditures
a m o n g the c o m p o n e n t practices.
M a n y e m p l o y e r s h a d r e c o r d s only of c o m b i n e d expen d i t u r e s
for life i n s u r a n c e a n d d e a t h benefits a n d for hospitalization, sickn e s s a n d accident i n s u r ­
ance, a n d m e d i c a l plans, a n d could not furnish s e p a r a t e data for these t w o i t e m s as r e ­
quested.
N o a t t e m p t w a s m a d e to b r e a k d o w n total e x p e n d i t u r e s for this p a c k a g e , a n d
data a r e p r e s e n t e d only for the t w o i t e m s c o m b i n e d .
In certain cases, usi n g collateral
data, e s t i m a t e s w e r e m a d e w h e r e r e c o r d s w e r e not k ept o r w e r e s u m m a r i z e d only for




60
specific practices.
F o r e x a m p l e , at t i m e s expend i t u r e s for holiday p a y w e r e e s t i m a t e d b y
multiplying the n u m b e r of h o u r s pai d for holiday leave b y a v e r a g e h o u r l y earnings.
In
other cases, e x p e n d i t u r e s for individual i t e m s in a g iven e s t a b l i s h m e n t w e r e e s t i m a t e d o n
the basis of e x p e n d i t u r e patterns in c o m p a r a b l e establishments.
It s h o u l d b e n o t e d that e r r o r s in the u s e of e s timating p r o c e d u r e s w o u l d h a v e to b e
in the s a m e direction in m o s t c a s e s ( o v e r s t a t e m e n t or u n d e r s t a t e m e n t of actual values) to
h a v e a c u m u l a t i v e effect o n the a c c u r a c y of the results.
P r e v i o u s studies indicate that the
u s e of e s t i m a t e s h a d not substantially affected the s u r v e y results. 13
A l t hough, as p r e v i o u s l y descri b e d , multiunit c o m p a n i e s w e r e r e q u e s t e d to s u p p l y
data only for the individual e s t a b l i s h m e n t s included in the s a m p l e , in s o m e instances r e c o r d ­
k e e p i n g prac t i c e s n e c e s sitated the p r e p a r a t i o n of reports for lar g e r units.
Consequently,
wh i l e for simplicity in l a n g u a g e the r e p o r t is written in t e r m s of data for e s t ablishments, in
actuality the data a r e for r e porting units, s o m e of w h i c h a r e b r o a d e r than the e s t a b l i s h m e n t
concept.
F o r all practical p u r p o s e s , the distinction is m i n o r .

Employee

Groups

T h e definitions of s u p e r v i s o r y a n d n o n s u p e r v i s o r y e m p l o y e e s u s e d in this s u r v e y c o n ­
f o r m to the c o n c e p t s e m p l o y e d in the B u r e a u ' s m o n t h l y e m p l o y m e n t , hours, a n d earni n g s
series.
T h e t e r m " n o n s u p e r v i s o r y e m p l o y e e s " includes e m p l o y e e s s u c h as i n surance, b r o ­
k e r a g e a n d c o m m i s s i o n , a n d real estate s a l e s m e n , i n v e s t m e n t a n d security advisors, i n s u r ­
a n c e a n d security clerks, tellers, b o a r d boys, g e n e r a l office clerks, o f f i c e - m a c h i n e operators,
m e s s e n g e r s , m a i n t e n a n c e a n d custodial, a n d other e m p l o y e e s b e l o w the s u p e r v i s o r y level,
w h o s e s e r v i c e s a r e closely a s s o c i a t e d with those of e m p l o y e e s listed above.
Included in the
n o n s u p e r v i s o r y c a t e g o r y a r e e m p l o y e e s w h o m a y b e "in c h a r g e " of a g r o u p of e m p l o y e e s but
w h o s e s u p e r v i s o r y functions a r e only incidental to their re g u l a r w o r k .
I n c luded in the s u r v e y as s u p e r v i s o r s w e r e salaried officers of c o r p o r a t i o n s a n d
principal e x ecutives s u c h as m a n a g e r s , d e p a r t m e n t heads, a n d all others p r i m a r i l y e n g a g e d
in directing the w o r k of subordinates.
E x c l u d e d f r o m the s u r v e y w e r e proprietors, m e m b e r s
of u n i n c o r p o r a t e d
u n p a i d f a m i l y w o r k e r s , a n d s e l f - e m p l o y e d p e r s o n s for w h o m the c o m p a n y d o e s not p a y
security.
A l s o e x c l u d e d w e r e nonoffice s a l e s m e n , i e. , p e r s o n s w h o sell securities,
.
ance, real estate, p r i m a r i l y outside the office, a n d w h o s e h o u r s of w o r k a r e neither
fied n o r scheduled.

Gross

firms,
social
insur­
speci­

Payroll

G r o s s pa y r o l l c o v e r s the total a m o u n t paid to e m p l o y e e s d u r i n g 1961.
It includes
p a y for o v e r t i m e , s t a n d b y time, holidays, vacations, a n d sick leave, paid b y the establish­
m e n t directly to the w o r k e r .
A l s o included a r e c o m m i s s i o n s , b o n u s e s not paid regularly
e a c h p a y p e r i o d (e. g. , C h r i s t m a s b o n u s e s ) a n d p a y not e a r n e d d u r i n g the y e a r (e. g. , r e t r o ­
active pay, d i s m i s s a l pay). All p a y m e n t s a r e p r i o r to deductions s u c h as e m p l o y e e s ' social
se curity contributions, w i t h holding taxes, g r o u p insurance, u n i o n dues, a n d savings bon d s .
E x c l u d e d a r e the va l u e of free rent, fuel, o r other p a y m e n t in kind, m a d e for the c o n v e n i e n c e
of the e m p l o y e r .
It follows the definition of g r o s s p a y that is u s e d o n the W i t h h o l d i n g T a x
F o r m for i n c o m e tax p u r p o s e s .

Straight-Time

work

Payroll

S t r a i g h t - t i m e p ayroll is the g r o s s payroll less
o n w e e k e n d s , holidays, a n d late shifts.

premium

p a y for o v e r t i m e

and

for

See Problems in Measurement of Expenditures on Selected Items of Supplementary Employee Remuneration, Manufacturing
Establishments. 1953 (BLS Bulletin 1186, 1956), p. 46j and Composition of Payroll Hours in Manufacturing, 1958 (BLS Bulletin 1283,
1960), p. 25.




61

H ou rs

P a id F o r

H o u r s p a id f o r in c lu d e th e t o t a l n u m b e r o f m a n - h o u r s f o r w h ic h p a y w a s g iv e n in
1 9 6 1 . ( T o t a l m a n - h o u r s a r e t h o s e th a t a r e r e la t e d to th e g r o s s p a y . ) T h e y c o n s i s t o f p a id
m a n - h o u r s s p e n t a t th e w o r k p l a c e , in c lu d in g p a id s t a n d b y and r e p o r t i n g t i m e an d p a id r e s t
p e r i o d s , and th e m a n - h o u r s e q u iv a le n t to th e p a y f o r t i m e a w a y f r o m th e w o r k p l a c e w h ile
o n le a v e (p a id v a c a t i o n s , h o l i d a y s , e t c . ) .
P la n t H o u r s
P la n t h o u r s a r e t o t a l h o u r s p a id f o r l e s s p a id l e a v e ( i . e . , v a c a t i o n s ; s i c k le a v e ;
h o l i d a y s ; an d m i l i t a r y , j u r y , w it n e s s , v o t in g , and p e r s o n a l l e a v e ) .
T h e y in c l u d e a l l p a id
h o u r s s p e n t at th e w o r k p l a c e , in c lu d in g p a id r e s t an d lu n c h p e r i o d s an d s t a n d b y an d r e ­
p o r t in g t i m e .
T o m a in t a in c o n s i s t e n c y in t e r m i n o l o g y w ith p r e v i o u s B u r e a u s t u d ie s o f e x ­
p e n d it u r e s f o r s u p p l e m e n t a r y r e m u n e r a t io n p r a c t i c e s , th e t e r m ’ ’p la n t h o u r s ” is u s e d in
th is s t u d y , a lth o u g h th e t y p i c a l w o r k p l a c e in th e f in a n c e , i n s u r a n c e , an d r e a l e s t a t e i n d u s ­
t r i e s is an o f f i c e .
P a id

L eave

P a id l e a v e e x p e n d i t u r e s in c lu d e o n ly p a y m e n t s m a d e b y th e c o m p a n y d i r e c t l y to th e
w o r k e r ; e m p l o y e r p a y m e n t s t o u n io n o r- o t h e r v a c a t i o n fu n d s ( w h ic h o c c u r o n ly r a r e l y in
th e f in a n c e , in s u r a n c e , an d r e a l e s t a t e i n d u s t r ie s ) w e r e t r e a t e d a s p r i v a t e w e l f a r e p la n s .
S i m i l a r l y , c o m p a n y p a y m e n t s to i n s u r a n c e c a r r i e r s o r s p e c i a l fu n d s , w h ic h p a y h e a lt h and
s i c k n e s s b e n e f it s to w o r k e r s , w e r e c l a s s i f i e d a s p r i v a t e w e l f a r e p la n s r a t h e r th an p a id s i c k
le a v e .
In th e f e w S ta te s w h e r e t e m p o r a r y d i s a b i l i t y i n s u r a n c e is r e q u i r e d b y la w , c o m ­
p a n y p a y m e n t s m a d e d i r e c t l y to w o r k e r s u n d e r s e l f - i n s u r a n c e p r o v i s i o n s o f th e la w w e r e
c o n s i d e r e d l e g a l l y r e q u i r e d p a y m e n t s r a t h e r th an s i c k le a v e p a y .
T h e h o u r s o f p a id le a v e
in c lu d e m a n - h o u r s o r m a n - h o u r e q u iv a le n t s o f th e p a y g iv e n to th e w o r k e r d i r e c t l y b y th e
c o m p a n y f o r v a c a t i o n s , h o l i d a y s , s i c k l e a v e , and ’ ’o t h e r l e a v e ” ( m i l i t a r y , j u r y , w it n e s s ,
v o t in g , o r p e r s o n a l ) .
M a n - h o u r e q u iv a le n t s w e r e d e t e r m i n e d b y d iv id in g th e a m o u n t o f th e
p a y m e n t f o r th e it e m b y a v e r a g e h o u r l y e a r n in g s '.
P r e m iu m P a y
P r e m i u m p a y f o r o v e r t i m e in c l u d e s o n ly th e p a y a b o v e th e r e g u l a r s t r a i g h t - t i m e
ra tes.
T h u s , i f o v e r t i m e w a s p a id a t t im e and o n e - h a l f , o n ly th e h a lf t i m e w a s r e p o r t e d .
P r e m i u m p a y f o r w o r k o n a p a id h o lid a y e x c lu d e s th e r e g u l a r s t r a i g h t - t i m e p a y f o r th e
w o r k p e r f o r m e d an d th e h o lid a y p a y th e w o r k e r w o u ld h a v e r e c e i v e d i f h e h a d n o t w o r k e d .
O n ly th e e x t r a p a y w a s r e p o r t e d .
S h ift d i f f e r e n t i a l p a y m e n t s in c l u d e o n ly th e e x t r a p a y
a b o v e th e r e g u l a r h o u r l y r a t e s f o r th e d a y s h ift .
T h e y c o v e r n o t o n ly d i f f e r e n t i a l s p a id
in th e f o r m o f h ig h e r h o u r ly r a t e s , b u t a l s o s p e c i a l p a y m e n t s to l a t e - s h i f t w o r k e r s f o r m e a l
p e r i o d s an d f o r a n y o t h e r h o u r s n o t w o r k e d b y th e m b u t p a id f o r ( e . g . , i f l a t e - s h i f t w o r k e r s
r e c e i v e 8 h o u r s ’ p a y f o r 7 V2 h o u r s ’ w o r k , c o m p a r e d w ith 8 h o u r s ' w o r k f o r th e d a y s h ift ,
t o t a l e x p e n d i t u r e s f o r th e V2 h o u r 's p a y w e r e r e p o r t e d a s s h if t d i f f e r e n t i a l ) .
C h r is t m a s ,

Y e a r e n d , an d O t h e r I r r e g u l a r B o n u s e s

B o n u s e x p e n d it u r e s in c lu d e s p e c i a l p a y m e n t s m a d e in c a s h a t th e en d o f th e y e a r o r
d u r in g th e C h r is t m a s s e a s o n , an d r e la t e d p a y m e n t s .
I m m e d ia t e c a s h d i s b u r s e m e n t s u n d e r
p r o f i t - s h a r i n g p la n s a r e in c l u d e d .
H o w e v e r , r e g u l a r l y p a id b o n u s e s ( s u c h a s w e e k ly and
m o n t h ly p r o d u c t i o n o r s a l e s b o n u s e s ) an d s u g g e s t io n an d o t h e r in c e n t i v e a w a r d s a r e e x ­
c lu d e d , a s a r e b o n u s e s in th e f o r m o f m e r c h a n d i s e .
P r a c tic e s

S tu d ie d

T h e e x p e n d it u r e e s t im a t e s p r e s e n t e d in th is b u lle t in r e l a t e to s e l e c t e d p r a c t i c e s i n ­
v o lv i n g e m p l o y e r p a y m e n t s to e m p l o y e e s o r to in s u r a n c e c o m p a n i e s , g o v e r n m e n t , o r p r i v a t e
w e l f a r e fu n d s .
C o l l e c t i o n o f d a ta w a s li m i t e d to p r a c t i c e s th a t w e r e b o t h m e a s u r a b l e an d
c o m m o n l y fo u n d in th e f in a n c e , i n s u r a n c e , an d r e a l e s t a t e i n d u s t r i e s .
F o r e x a m p l e , a lth o u g h
p a id r e s t p e r i o d s a r e c o m m o n in th e in d u s t r i e s s t u d ie d , th e p r a c t i c e is l a r g e l y i n f o r m a l




62

an d d e t a ile d r e c o r d s g e n e r a l l y a r e n o t m a in t a in e d .
C o n s e q u e n t ly , m e a s u r e m e n t d i f f i c u l t i e s
m a d e it i m p r a c t i c a l to in c l u d e th is it e m in th e s u r v e y .
A m o n g o th e r p r a c t ic e s o m itte d
w e r e s t o c k o p t io n p la n s , w h ic h a r e n o t o n ly d i f f i c u l t to m e a s u r e b u t a p p ly to a l i m i t e d n u m b e r
o f e m p lo y e e s .
D e s p it e t h e s e l i m i t a t i o n s , th e p r a c t i c e s s t u d ie d a r e b e l i e v e d to c o n s t it u t e th e
m a j o r e le m e n t s o f s u p p l e m e n t a r y e m p l o y e e r e m u n e r a t io n in th e t h r e e in d u s t r i e s a s a w h o le .
N e v e r t h e l e s s , it m u s t b e r e c o g n i z e d th a t it e m s n o t s u r v e y e d m a y b e im p o r t a n t in s o m e
in d iv id u a l e s t a b lis h m e n t s .

M e th o d s

o f P r e s e n ta t io n

E x p e n d it u r e s f o r th e v a r i o u s s u p p l e m e n t a r y c o m p e n s a t i o n it e m s s t u d ie d a r e s h o w n in
f o u r w a y s , e a c h o f w h ic h s h e d s lig h t o n a d i f f e r e n t f a c e t o f s u c h e x p e n d i t u r e s .
T he fo u r
m e th o d s o f p r e s e n ta tio n a r e :

1.
2.
3.
4.

E x p e n d it u r e s a s a p e r c e n t
E x p e n d it u r e s a s a p e r c e n t
p r e m iu m p a y f o r o v e r t im
E x p e n d it u r e s
in c e n t s p e r
E x p e n d it u r e s
in c e n t s p e r
p a id l e a v e h o u r s ) .

o f g r o s s p a y r o ll.
o f s tr a ig h t-tim e p a y r o ll(g r o s s
p a y r o l l m in u s
e , w e e k e n d , h o lid a y , an d l a t e - s h i f t w o r k ) .
h o u r p a id f o r .
p la n t m a n - h o u r (h o u r s p a id
f o r le s s

F o r e a c h o f th e i t e m s , th e f o u r m e a s u r e s h a v e b e e n c a l c u l a t e d b y d iv id in g c o m b i n e d e x ­
p e n d it u r e s f o r th e it e m in a l l e s t a b lis h m e n t s w ith s u c h e x p e n d i t u r e s b y th e a p p r o p r i a t e p a y ­
r o l l o r h o u r s t o t a l o f , f i r s t , a l l e s t a b lis h m e n t s w h e t h e r o r n o t th e y h a d e x p e n d i t u r e s f o r
th e it e m , a n d , s e c o n d , o n ly t h o s e e s t a b lis h m e n t s w ith e x p e n d it u r e s f o r th e it e m . 14
The
a l l - e s t a b l i s h m e n t f i g u r e s c a n b e r e l a t e d to p u b lis h e d w a g e d a ta an d a r e u s e f u l in g e n e r a l
e c o n o m ic a n a ly s is .
D a ta f o r e s t a b lis h m e n t s w ith e x p e n d i t u r e s f o r a g iv e n p r a c t i c e a r e , o f
c o u r s e , p e r t in e n t i f th e i n t e r e s t is in e x p e n d i t u r e s in e s t a b lis h m e n t s a c t u a l ly m a k in g p a y ­
m e n t s f o r th a t p r a c t i c e .
If a l l e s t a b lis h m e n t s h a v e e x p e n d i t u r e s f o r a g iv e n p r a c t i c e , th e
a l l - e s t a b l i s h m e n t and e s t a b l i s h m e n t s - w i t h - e x p e n d i t u r e s f i g u r e s w i l l b e th e s a m e ; o t h e r w i s e ,
th e f o r m e r w i l l b e l o w e r , th e e x te n t o f th e d i f f e r e n c e d e p e n d in g u p o n th e r e l a t i v e n u m b e r
o f e s t a b lis h m e n t s w ith e x p e n d it u r e s f o r th e p r a c t i c e . 15

T h e m e a s u r e s d e s c r i b e d in th e p r e c e d i n g p a r a g r a p h r e l a t e a g g r e g a t e e x p e n d i t u r e s
f o r s u p p le m e n t s to p a y r o l l o r h o u r s t o t a ls in th e e s t a b lis h m e n t s c o v e r e d b y th e s u r v e y .
As
w ith o t h e r o v e r - a l l m e a s u r e s , th e y d o n o t s h o w th e e x t e n t to w h ic h e x p e n d i t u r e s v a r i e d
a m o n g th e e s t a b l i s h m e n t s .
F o r th is r e a s o n , th e b a s i c e x p e n d it u r e t a b le s a r e s u p p le m e n t e d
b y t a b le s s h o w in g th e e x te n t o f v a r i a t i o n in e s t a b lis h m e n t e x p e n d i t u r e s .

T o in d ic a t e th e p r e v a l e n c e o f e x p e n d i t u r e s f o r th e p r a c t i c e s s t u d ie d , t a b le s a r e
p r e s e n t e d w h ic h s h o w th e p e r c e n t o f e m p l o y e e s in e s t a b lis h m e n t s w ith e x p e n d i t u r e s f o r th e
p r a c t i c e . 16 It s h o u ld b e r e m e m b e r e d th a t a l l e m p l o y e e s in e s t a b lis h m e n t s w ith e x p e n d it u r e s
f o r a g iv e n s a l a r y s u p p le m e n t d id n o t n e c e s s a r i l y r e c e i v e th a t s u p p le m e n t .
F o r e x a m p le ,
e m p l o y e e s in an e s t a b lis h m e n t w ith e x p e n d i t u r e s f o r l a t e - s h i f t p r e m i u m s w o u ld n o t h a v e
r e c e i v e d s u c h p a y m e n t s i f th e y w o r k e d o n th e d a y s h ift .
F u r t h e r m o r e , th e f i g u r e s a r e n o t
n e c e s s a r i l y i n d ic a t iv e o f th e p r e v a l e n c e o f s u p p l e m e n t a r y p a y p r a c t i c e s .
A s an i l l u s t r a t i o n
o f th is p o in t , e m p l o y e e s in an e s t a b lis h m e n t w ith a f o r m a l p r a c t i c e o f g r a n t in g s e v e r a n c e
p a y to l a i d - o f f w o r k e r s w o u ld n o t h a v e b e e n in c l u d e d in th e t a b u la t io n s a s b e in g in an e s ­
t a b li s h m e n t w ith e x p e n d i t u r e s f o r s e v e r a n c e p a y i f t h e ir e m p l o y e r d id n o t la y o f f w o r k e r s
d u r in g th e y e a r .
Since the legally required insurance programs commonly have widespread coverage, the tables show only all-establishment data
for these items.
15 Although tables in t i bulletin show expenditures f the various items as percents of gross payroll and straight-time payroll,
hs
or
as cents per hour paid f r and a cents per plant man-hour, the analysis in the text i solely in terms of percent of gross payroll and
o,
s
s
cents per hour paid f r
o . Percents of gross and straight-time payroll clearly are related, as are cents per hour paid for and cents per
plant man-hour.
Because of the widespread coverage of legally required insurance programs, tabulations of prevalence of expenditures are
omitted for these items.




63

T h e im p o r t a n c e o f p a id le a v e p r a c t i c e s is s h o w n n o t o n ly in t e r m s o f th e l e v e l o f
e m p l o y e r e x p e n d i t u r e s f o r t h e s e p r a c t i c e s b u t a l s o in t e r m s o f th e p e r c e n t o f t o t a l h o u r s
p a id f o r w h ic h c o n s i s t e d o f p a id l e a v e h o u r s .
D a ta o n th e c o m p o s i t i o n o f p a y r o l l h o u r s a r e
in c h a p t e r V II.

I n t e r p r e t a t io n o f D a ta
T h is s tu d y d o e s n o t p u r p o r t to d e f in e o r m e a s u r e " f r i n g e b e n e f i t s . "
T h e r e is m u c h
c o n t r o v e r s y o v e r th e a p p r o p r i a t e n e s s o f t h is t e r m an d o v e r w h a t s p e c i f i c p r a c t i c e s it e n ­
com p a sses.
T h e p a y s u p p le m e n t s in c lu d e d in th is s u r v e y w e r e n o t s e l e c t e d
w ith a v ie w
t o w a r d r e s o l v i n g th e i s s u e .
E x p e n d it u r e d a ta p r e s e n t e d in th is b u lle t in a r e f o r in d iv id u a l s u p p l e m e n t a r y c o m ­
p e n s a t io n it e m s an d f o r g r o u p s o f s u c h i t e m s .
H o w e v e r , n o f i g u r e s a r e p r e s e n t e d on e x ­
p e n d it u r e s f o r a l l it e m s c o m b i n e d .
It s h o u ld b e r e m e m b e r e d th a t s u c h a g g r e g a t i o n s w o u ld
n o t m e a s u r e t o t a l e x p e n d i t u r e s f o r s u p p l e m e n t a r y c o m p e n s a t io n s i n c e n o t a l l w a g e s u p p l e ­
m e n t s a r e a n a ly z e d .
M o r e o v e r , s u m m a t io n s o n a p e r c e n t - o f - p a y r o l l b a s i s c r e a t e p r o b l e m s
o f i n t e r p r e t a t io n o f r e s u l t s , in a s m u c h a s p a y m e n t s f o r s o m e o f th e s u p p le m e n t s ,
su ch as
v a c a t i o n an d h o lid a y p a y , 17 a r e p a r t s o f p a y r o l l w h ile o t h e r e x p e n d i t u r e s , s u c h a s t h o s e
f o r l i f e in s u r a n c e p r e m i u m s , a r e in a d d it io n to p a y r o l l .
A r e la t e d i s s u e c o n c e r n s a t t e m p t s to c o m b i n e th e f i g u r e s sh o w n in th is b u lle t in
w ith d a ta o n a v e r a g e e a r n in g s p e r h o u r p a id f o r , s u c h a s t h o s e p u b li s h e d b y th e B u r e a u
o f L a b o r S t a t is t ic s .
S u c h d a ta in c lu d e e x p e n d it u r e s f o r m o s t p a y r o l l i t e m s and a r e n o t
s i m p ly m e a s u r e s o f s t r a i g h t - t i m e p a y p e r h o u r a c t u a l ly w o r k e d .
A d d in g to t h e s e m e a s ­
u r e s , e x p e n d it u r e s p e r p a y r o l l h o u r f o r s u c h i t e m s a s v a c a t i o n an d h o lid a y p a y w o u ld , c o n ­
s e q u e n t ly , in v o l v e a ty p e o f d o u b le c o u n t in g .
In th is r e g a r d , t o t a l e m p l o y e e r e m u n e r a t io n , in c lu d in g s u p p le m e n t s , s h o u la n o t b e
e q u a t e d w ith t o t a l l a b o r c o s t s , s i n c e th e la t t e r i n c l u d e s , in a d d it io n to e m p l o y e e r e m u n e r a ­
t io n , o t h e r it e m s , a m o n g th e m b e in g c o s t s o f r e c r u i t m e n t an d t r a in in g .
A lth o u g h e x p e n d i t u r e s a r e , o f c o u r s e , r e la t e d to th e p r a c t i c e s f o r w h ic h th e y a r e
m a d e , it d o e s n o t f o l l o w th a t tw o e s t a b lis h m e n t s w ith th e s a m e p r a c t i c e s w i l l n e c e s s a r i l y
h a v e th e s a m e e x p e n d i t u r e s f o r th e m .
F o r e x a m p l e , v a r i a t i o n s in e x p e n d it u r e f i g u r e s f o r
o v e r t i m e p r e m iu m p a y u s u a ll y a r e m o r e th e r e s u l t o f d i f f e r e n c e s in th e v o lu m e o f o v e r ­
t i m e w o r k th an o f d i f f e r e n c e s in o v e r t i m e p a y p r a c t i c e s .
S i m i l a r l y , tw o f i r m s g r a n t in g
2 - w e e k v a c a t i o n s a f t e r 1 y e a r o f s e r v i c e an d 3 - w e e k v a c a t i o n s a f t e r 5 y e a r s w i l l h a v e d i f ­
f e r e n t v a c a t i o n e x p e n d i t u r e s i f o n e h a s f e w w o r k e r s w ith 5 y e a r s * s e r v i c e an d th e o t h e r h a s
m a n y lo n g -s e r v ic e e m p lo y e e s .
A s a f in a l i l l u s t r a t i o n , e x p e n d i t u r e s f o r p e n s io n s w i l l b e
in f lu e n c e d n o t o n ly b y th e l e v e l o f b e n e f it s b u t a l s o b y s u c h f a c t o r s a s th e a g e an d le n g th
o f s e r v i c e o f e m p l o y e e s , p r o v i s i o n s f o r v e s t i n g , an d f i n a n c i a l a r r a n g e m e n t s .
T h e r e fo r e ,
a c o m p l e t e a n a l y s is o f s u p p l e m e n t a r y r e m u n e r a t io n is a c o m p l e x m a t t e r , r e q u ir i n g s tu d y o f
b o th th e p r a c t i c e s in v o l v e d an d th e e x p e n d i t u r e s f o r th e m a s w e l l a s o t h e r i t e m s , s u c h a s
w o r k s c h e d u l e s an d c o m p o s i t i o n o f th e la b o r f o r c e . -

R e p o r tin g

o f B on u s and P r iv a t e

W e lf a r e P la n E x p e n d it u r e s

It i s p o s s i b l e th a t th e d a ta p r e s e n t e d on b o n u s e s e x c lu d e a s m a l l n u m b e r o f b o n u s
e x p e n d itu re s .
In a f e w c a s e s , e s t a b lis h m e n t s r e p o r t e d a s e x p e n d i t u r e s f o r m i s c e l l a n e o u s
p r i v a t e w e l f a r e p la n s 18 m o n e y s p e n t in w a y s w h ic h , f r o m th e i d e n t i f i c a t i o n g iv e n ,
con ­
c e i v a b l y c o u ld h a v e f a l l e n w ith in th e s u r v e y 's b o n u s c o n c e p t .
F o r e x a m p le , s o m e e x p e n d i­
t u r e s w e r e id e n t i f ie d
s i m p ly a s p r o c e e d s u n d e r p r o f i t - s h a r i n g p la n s .
If th e a m o u n ts in
q u e s t io n w e r e i m m e d ia t e c a s h d i s b u r s e m e n t s , th e e x p e n d i t u r e s s h o u ld h a v e b e e n r e p o r t e d
a s b o n u s r a t h e r th an p r i v a t e w e l f a r e p la n e x p e n d i t u r e s .
In t h e s e i n s t a n c e s , s i n c e t h e r e
^ Payments to vacation and holiday funds, which are not payroll items, are treated separately from the usual practice of making
direct payments to employees for vacations and holidays. Funded arrangements f vacations and holidays are not widespread in the
or
industries studied.
18 See Item 6-B-8 of the survey questionnaire form reproduced in appendix B
.




64

w a s n o c l e a r e v i d e n c e o f i n c o r r e c t r e p o r t i n g , th e d a ta w e r e ta b u la t e d a s r e p o r t e d .
H ow ­
e v e r , a s s u m in g a l l th e q u e s t io n a b le m i s c e l l a n e o u s p r i v a t e w e l f a r e p la n e x p e n d it u r e s w e r e
in f a c t b o n u s p a y m e n t s , in n o c a s e w o u ld a r e v i s e d b o n u s e x p e n d it u r e f i g u r e f o r a l l e m ­
p l o y e e s d i f f e r b y m o r e th a n 0. 2 p e r c e n t o f g r o s s o r s t r a i g h t - t i m e p a y r o l l o r m o r e th a n
0. 4 c e n t p e r h o u r p a id f o r o r p la n t m a n - h o u r f r o m t h o s e s h o w n in th e t a b le s .
O n th e o t h e r h a n d , i f a f e w b o n u s e x p e n d i t u r e s w e r e ta b u la t e d a s p a y m e n t s f o r m i s ­
c e l l a n e o u s p r i v a t e w e l f a r e p la n s , th e e x p e n d i t u r e s s h o w n in th is b u lle t in f o r t o t a l s e l e c t e d
p r i v a t e w e l f a r e p la n s te n d to b e s l ig h t l y o v e r s t a t e d .
It s h o u ld a l s o b e n o te d th a t a f e w e s ­
t a b li s h m e n t s r e p o r t e d a s m i s c e l l a n e o u s p r i v a t e w e l f a r e e x p e n d i t u r e s , o u t la y s w h ic h p r o p e r l y
s h o u ld h a v e b e e n r e p o r t e d a s b e in g f o r o n e o f th e s p e c i f i e d t y p e s o f p r i v a t e w e l f a r e p la n s .
A lth o u g h s u c h e x p e n d i t u r e s w e r e in c lu d e d in th e c o m p u t a t io n o f e x p e n d it u r e d a ta f o r t o t a l
s e l e c t e d p r i v a t e w e l f a r e p la n s , it w a s n o t p o s s i b l e to a l l o c a t e th e m a m o n g th e a p p r o p r ia t e
c o m p o n e n t p la n s .
T h is r e p o r t in g p r o b l e m te n d s to u n d e r s t a t e th e e x p e n d it u r e d a ta f o r i n d i ­
v id u a l p r i v a t e w e l f a r e p la n s .
T h e e r r o r i s p r o b a b l y g r e a t e s t in d a ta f o r p e n s io n an d r e ­
t i r e m e n t p la n s , b u t e v e n h e r e it is m i n o r . 19

19 The only reported miscellaneous private welfare plan expenditures included in the tabulations were those believed to f l within
al
the definition of some other item on the questionnaire and improperly reported as miscellaneous private welfare plan expenditures. Such
expenditures were included in the computation of data f r total private welfare plans, but are not shown separately. Other reported
o
expenditures for miscellaneous private welfare plans were not tabulated. The major purpose of requesting expenditure data for miscel­
laneous private welfare plans was to obtain an indication of the importance of private welfare plans other than those being analyzed,
for use in planning future surveys.




Appendix B.

Questionnaire

BLS 2781

B u d ge t B u re a u N o . 4 4 -R 1 1 8 4
A p p r o v a l e x p ir e s 1 2 - 3 1 - 6 2 .

U.S. DEPARTMENT OF LABOR
B U R E A U O P L A B O R STATISTICS
W A S H I N G T O N 25, D.C.

Y o u r re p o rt w i l l b e h e l d in c o n f i d e n c e .
It w i l l be s e e n o n l y b y s w o r n e m p lo y ­
e e s o f th e B u r e a u o f L a b o r S t a t i s t i c s .

EXPENDITURES FOR SELECTED SUPPLEMENTARY EMPLOYEE REMUNERATION
PRACTICES IN FINANCE, INSURANCE, AND REAL ESTATE, 1961
1 COMPANY IDENTIFICATION:
.

2 LOCATION:
.

C o u n ty ,

S ta te ,

q u e ste d

i f d if f e r e n t fro m c o m p a n y a d d r e s s .

e tc .,

fo r w h ic h d a t a a re re ­

3 MAJOR ACTIVITY:
.
W hat w a s
y e a r?

the

For

b ro ke r,

p r in c ip a l

a c t iv it y ,

e x a m p le , b a n k ,

in v e s t m e n t c o m p a n y ,
P L E A S E

A ll

data

re q u e ste d are

fo r

in te rm s

in s u r a n c e
e tc .

(s p e c ify

E X P L A N A T I O N

c a le n d a r y e a r

1961.

S e c u r it y (s u c h a s s o m e s a le s m e n o n c o m m is s io n ) a re
S U P E R V IS O R Y

covers

p lo y e e s

but

p e rso n s

w ho

s p e c ifie d
D a ta

s h o u ld

lo c a t io n

s e ll

r e a s o n a b le
"R e m a rk s”

o th e rs

in s u r a n c e

age n t,

re al

e sta te

d u r in g

th e

o p e rato r or le s s o r ,

S H E E T

B E F O R E

S e lf - e m p lo y e d

C O M P L E T I N G

w ho

are

p r im a r ily

THIS F O R M

p e r s o n s fo r w h o m th e

co m p an y d o e s n ot p ay S o c ia l

e x c lu d e d fro m t h is re p o rt.

engaged

e x e c u t iv e s

such

in d ir e c t in g th e w o rk o f s u b o r d in a t e s .

as

fu n c tio n s

a re

o n ly in c id e n t a l to

t h e ir r e g u la r w o r k .

N O N O F F IC E

m an age rs, de­

N O N S U P E R V IS O R Y

b e l o w t h e s u p e r v i s o r y l e v e l , i n c l u d i n g t h o s e w h o m a y b e '* i n c h a r g e "

s u p e r v is o r y

o f a grou p

o f em ­

SA LESM EN

cove rs

s e c u r it ie s , in s u r a n c e , r e a l e s t a t e , p r im a r ily o u t s id e th e o f f ic e , a n d w h o s e h o u r s o f w o r k

a re

n e ith e r

s c h e d u le d .
be

re p o rte d

id e n t if ie d

p a n y b o o k s.

a ll

e m p lo y e e s

w h o se

nor

o r o th e r),

e m p lo y e e s a re d e f in e d to in c lu d e o f f i c e r s o f c o r p o r a t io n s , p r in c ip a l

partm e n t h e a d s , a n d
e m p lo y e e s

lif e

________________________________________________________________________________

R E A D

the

o f v a lu e o f r e c e ip t s , in w h ic h t h is e s t a b lis h m e n t ( s ) w a s e n g a g e d

c a r r ie r

fo r s u p e r v is o r y

above.

P r o r a tio n m a y
m e th o d

If

com pany

be

m ade

o f p r o r a tin g

a

e m p lo y e e s

and

fo r n o n s u p e r v is o r y

e m p lo y e e s

in th e e s t a b l i s h m e n t s ) a t th e

r e c o r d s a re n o t s o m a in t a in e d , p le a s e p r o ra te th e c o m b in e d f ig u r e s o n th e

on

the

com ­

b a s i s o f e m p lo y m e n t , m a n -h o u r s , p a y r o ll , o r o t h e r a p p r o p r ia t e m e a n s .

c o m b in e d

fig u r e

cannot

be

fo u n d ,

e n ter

th e

c o m b in e d

f ig u r e

and

e x p la in

If

a

in th e

s e c t io n , a t th e e n d o f t h is re p o rt, a s f o llo w s :

For

a

a re

in c lu d e d .

fig u r e

r e la tin g

to

m ore

th an

one

e s t a b lis h m e n t , in d ic a t e in th e " R e m a r k s ”

s e c t io n th e e s t a b lis h m e n t s

th at

I f a fig u r e in th e s u p e r v is o r y o r n o n s u p e r v is o r y e m p lo y e e s c o lu m n c o v e r s m o re th a n th e s p e c if ie d e m p lo y e e c a t e g o r y ,
p le a s e in d ic a t e

For

a

f ig u r e

"R e m a rk s”

IF

NO

IN

data

fo r

se ve ral

lin e s ,

b racke t

th e

l in e s in c lu d e d in th e c o m b in e d fig u r e o r e x p la in in th e

s e c t io n w h ic h lin e s a re in c lu d e d .

M A N -H O U R S

"n o n e ”

4.

in th e " R e m a r k s ” s e c t i o n w h a t o t h e r c a t e g o r i e s o f e m p lo y e e s a re in c lu d e d .

c o m b in in g

T H E

O R

E X P E N D IT U R E S

A P P R O P R IA T E

SP A C E.

W ERE

IN V O L V E D

P L E A S E

DO

D U R IN G

T H E

L E A V E

N O T

A N Y

Y E A R
L IN E S

F O R

A

G IV E N

IT E M , E N T E R

B LA N K .

E M P L O Y M E N T :
E m p lo y e e s
F o r e a c h e m p lo y e e

c a te g o r y , e n te r th e

to ta l

( f u ll- t im e a n d p a r t -tim e ) w h o w o r k e d o r r e c e iv e d

pay

fo r the p a y

p e r io d e n d in g n e a r e s t th e 1 5 th o f th e m o n th .

M arch
June

------------------------------------

_________________
________________

F O R

num ber




SA LESM EN

N O N S U P E R V IS O R Y

________________________

D ecem ber

Reg.

N O N O F F IC E

S U P E R V IS O R Y

S e p te m b e r

S c h e d u le

oth e r th a n
n o n o ff ic e s a le s m e n

num ber o f p e rso n s

Sta te

B L S

U SE

O N LY

C ity

S IC

E st.

s iz e

code

s iz e

65

W e ig h t

S p e c ia l
ch arac.

6
6
5 ANNUAL PAYROLL EXPENDITURES AND MAN-HOURS
.
E m p lo y e e s o th e r th a n n o n o ff ic e s a le s m e n

A. Gross payroll and t t l man-hours:
oa

M A N -H O U R S
E n t e r th e

to ta l o f

m i s s i o n s , p r io r
You

m ay u se

a ll

to

w a g e s , s a la r ie s , b o n u se s , a n d co m ­

a l l p a y r o ll d e d u c t io n s , d u r in g

th e d e fin it io n o f g r o s s

in c o m e t a x p u r p o s e s

pay

th at

th e

is

S u p e r v is o r y

N o n s u p e r v is o ry

y e ar.

u s e d fo r

o n th e W it h h o ld in g T a x F o r m .

R e port

a l s o th e t o t a l n u m b e r o f m a n -h o u r s fo r w h ic h t h e s e e m p lo y ­
e e s r e c e i v e d t h i s p a y . ---------------------------------------------------------------------

B. Paid leave:
R e p o r t p a y m e n ts m a d e d ir e c t ly to th e e m p lo y e e b y th e c o m ­
p a n y , fo r th e f o llo w in g le a v e it e m s a n d th e m a n -h o u r s e q u iv ­
a le n t to t h o s e p a y m e n ts .
in lie u

o f v a c a t io n

I f a n e m p lo y e e

o r h o lid a y

r e c e iv e d b o th p a y

le a v e a n d

p a y fo r

w o rk , re ­

p o r t h e r e o n l y th e p a y m e n t s i n l ie u o f t im e o f f a n d th e m a n ­
hours

o f le a v e , p a id

fo r.

( If

an

e m p lo y e e

d id

n o t re c e iv e

f u ll p a y fo r a n e x c u s e d a b s e n c e , re p o rt o n ly th e

m a n -h o u rs

e q u iv a le n t

m a n -h o u rs

to

th e

pay

re c e iv e d .

To

d e t e r m in e

e q u i v a l e n t , d i v i d e t h e e m p l o y e e ’s t o t a l p a y f o r t h e e x c u s e d
a b s e n c e b y h i s s t r a ig h t - t im e

h o u r ly p a y )

1.

P a id v a c a t io n s

_________________________________________________

2.

P a id s ic k le a v e

3.

P a id h o lid a y s

4.

P a i d m ilita r y , ju ry , w it n e s s , v o t in g , a n d p e r s o n a l

--------------------------------------------------------------------------______________________________* __________________

l e a v e ( s p e c i f y t y p e o f p e r s o n a l l e a v e ) _____________________

C. Premiums above regular pay:
1« P r e m i u m p a y

fo r d a i l y o v e r t im e , w e e k ly o v e r tim e , a n d w e e k e n d a n d h o l i d a y

R e p o r t e x p e n d itu r e s fo r p a y a b o v e th e r e g u la r s t r a ig h t - t im e r a t e s .
t im e i s p a i d a t t im e a n d o n e - h a l f , r e p o r t o n l y th e h a l f t im e h e r e .
a p a id h o lid a y , e x c lu d e th e r e g u la r s t r a ig h t - t im e

pay

fo r

th e

o ve r­

F o r th e w o rk

w ork

p e rfo rm e d

th e h o l id a y p a y t h e e m p lo y e e w o u ld h a v e r e c e iv e d i f h e h a d n o t w o r k e d . )

2.

w ork.

(T h u s , if

on
and

_________

D if f e r e n t ia l fo r n ig h tw o r k .

R e p o r t e x p e n d i t u r e s f o r p r e m i u m p a y a b o v e t h e r e g u l a r r a t e s f o r d a y s h i f t _________

D. Christmas, yearend, and other irregular bonuses -------------------6 EXPENDITURES IN ADDITION TO PAYROLL:
.
A. Legally required insurance:
R e p o r t o n ly c o m p a n y e x p e n d itu r e s fo r th e y e a r.
1.

S o c ia l

2.

E x c lu d e e m p lo y e e c o n t r ib u tio n s .

S e c u r it y ( O ld A g e , S u r v iv o r s , a n d D is a b i li t y

I n s u r a n c e ) ______________________

U n e m p lo y m e n t C o m p e n s a t io n —
a.

P a y m e n t s to S t a te g o v e r n m e n t

b.

P a y m e n t s to F e d e r a l g o v e r n m e n t

-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------

3.

W o r k m e n ’s C o m p e n s a t io n In s u r a n c e (r e p o r t p a y m e n ts l e s s

4.

O th e r, i n c lu d in g S t a t e T e m p o r a r y D i s a b i l i t y In s u r a n c e

r e b a t e s , e t c . ) _________

_______________________________________________________________________________________

(s p e c ify )

B. Private welfare plans:
E x c lu d e w o rk e r c o n t r ib u tio n s
l e a v e , a n d It e m

6 -A —

re p o rt o n ly

and

L e g a lly

s u r a n c e c a r r ie r s , o r d ir e c t ly
n e t e x p e n d itu r e s

p a y m e n ts

re q u ir e d

to

th e

(i. e . ,

a lr e a d y

in su ra n c e .

e m p lo y e e .
p r e m iu m s

For
le s s

re c e iv e d , u n le s s th e y g o to p u r c h a s e a d d it io n a l

re p o rte d
In c lu d e

re b ate s,

under

It e m - 5 B —

p a y m e n ts

p a y m e n ts

to

to

re fu n d s,

and

P a id

fu n d s, in ­

in s u r a n c e

c a r r ie r s

d iv id e n d s

in s u r a n c e ).1

1.

L i f e i n s u r a n c e a n d d e a t h b e n e f i t s -------------------------------------------------------------------------------------------

2.

H o s p it a l iz a t io n , s i c k n e s s a n d a c c id e n t in s u r a n c e , a n d m e d ic a l p l a n s

3.

P e n s i o n a n d r e t i r e m e n t p l a n s ( i n c l u d i n g p a y - a s - y o u - g o p l a n s ) -------------------------------------

4.

V a c a t io n s

and

h o lid a y

fu n d s

---------------------

( u n i o n - m a n a g e m e n t a n d o t h e r ) ---------------------------------------

5 . S e v e r a n c e o r d i s m i s s a l p a y ------------------------------------------------------------------------------------------------------6.

S a v i n g s a n d t h r if t p l a n s

7.

S to c k p u rc h a se p la n s

8.

O th e r (s p e c ify )




_____________________________________________________________________

-----------------------------------------------------------------------------------------------------------------

________________________________________________________________________________

E X P E N D IT U R E S
S u p e r v is o ry

N o n s u p e r v is o ry

67

7.

E S T A B L IS H M E N T

P R A C T IC E S

A N D

T h e f o l lo w i n g in f o r m a t io n i s n e e d e d
N EC E SSA R Y ,

A.

P O L IC IE S

fo r th e

F O R

E M P L O Y E E S

in t e r p r e t a t io n

w it h th e e x c e p t io n o f th e q u e s t io n

on

of

th e

O T H E R

data

you

Num ber o f w eeks
p a id fo r
(o r e q u iv a le n t )

R e p o r t the n u m b e r o f e m p lo y e e s w h o w e re o n
p a y r o ll

c e iv in g
pany.
as

a

at

any

v a c a t io n

If

v a c a t io n

p e rc e n ta g e

e a r n in g s :

t im e

pay

d u r in g

th e

w ere

is

to

B.

P a id

to

2

A R E

SUPERVISORY ]
NONSUPERVISORY
employees
employees

2 a n d u n d e r 3 w e e k s ____

con­

3 a n d u n d e r 4 w e e k s ____

4%

w e e k s ’ v a c a t io n ,

______________________

1 a n d u n d e r 2 w e e k s ____

4 w e e k s a n d o v e r ________

e tc .

num ber o f h o lid a y s

p a id

fo r d u r in g
l.

ye ar.

S c h e d u le d

F u ll-d a y h o lid a y s —

2.

C.

C O M P U T A T IO N S

h o lid a y s :

R e po rt
the

m ore

NO

U n d e r 1 w e e k ____________

annual
be

s i d e r e d e q u i v a l e n t t o 1 w e e k ’s v a c a t i o n ;
or s lig h tly

None

com ­

d e t e r m in e d

e m p l o y e e ’s

2 % o r s li g h t l y m ore

re p o rte d .

SA LESM EN :

y e a r re -

d ir e c t l y fro m th e

b e n e fits
of

th e

have

N O N O F F IC E

v a c a t io n s .

P a id v a c a t io n s :

the

T H A N

H a l f - d a y h o l i d a y s ___

w orkw ee k :

W h a t w a s d ie n u m b e r o f h o u r s p e t w e e k w h ic h th e m a jo r it y o f e m p lo y ­
e e s in e a c h c a t e g o r y w e re e x p e c t e d to w o r k g e n e r a lly fo r t h e ir w e e k ly
pay?

D.

T h i s n e e d n o t b e t h e h o u r s t h e y a c t u a l l y w o r k e d . ----------------------------

S ic k

le a v e (n o u in s u r e d )

p a id

by

th e

e s t a b lis h m e n t

d ir e c t ly

to

th e

(Check one)

w ork e r:

D i d th e

and

NO D

YES □

NO □

YES □

NOD

YES □

NO □

YESO N O D

YES □

NOD

YES □

NO □

YES D

NOD

YES □

NOD

YES □

NOD

YES D

NOD

yesD

n o d

YES □

NOD

yesD

n o d

V a c a t i o n b e n e f i t s ? ___________________________________________________

YES □

NOD

YESD N O D

H o lid a y

YES □

NO □

YESD N O D

p la n ?

a c c id e n t , a n d lif e in s u r a n c e ; m e d ic a l p la n s ; o r d e a th b e n e fit s
le g a lly

th e

b.

re q u ir e d ):

com pany

L ife

fin a n c e

any

p a rt o f p r iv a t e —

in s u r a n c e , a c c id e n t a l d e a th

in s u r a n c e ,

or d e ath

H o s p it a liz a t io n ,
m e d ic a l

c.

S ic k n e s s

d.

O th e r

If

" Y E S ”

to

th e

p la n s ?

and

D id

m e d ic a l

or s u r g ic a l

in s u r a n c e ,

or

_________________________________________________________

a c c id e n t

i n s u r a n c e ? -------------------------------------------------------

to a n y p a r t o f E - l ,
fo r

th e

co st

c o m p a n y fin a n c e a n y

o r r e t ir e m e n t p l a n ?
2.

d is m e m b e r m e n t

( s p e c i f y ) ____________________________________ __ ___________________

p a y m e n ts

th e

and

b e n e f i t s ? ---------------------------------------------------------------

d id th e e m p lo y e e s c o n t rib u te
of

a n y o f th e se b e n e fits?

P e n s i o n a n d r e t ir e m e n t p l a n s (o t h e r t h a n

1.

fo rm a l p a id

YES □

D id

a.

F.

d e fin it e

YES □ NO □

H e a lth ,

2.

a

NOD

le a v e

(o th e r th a n

1.

have

YES □

s ic k

E.

e sta b lis h m e n t

If " Y E S , ” d id

th e

-----------------

l e g a l l y r e q u ir e d p la n s ) :

part o f a

p r iv a te

p e n s io n

------------------------------------------------------------------------------e m p lo y e e s c o n t r ib u te

to th e p a y m e n ts

f o r t h e c o s t o f t h i s p l a n ? -----------------------------------------------------------------------

G.

(Check one)

V a c a t io n a n d h o lid a y fu n d s:
D i d th e c o m p a n y c o n t rib u te to a u n io n -m a n a g e m e n t o r o th e r
fu n d w h ic h p r o v id e d —

1.

2.




b e n e f i t s ? ___________________________________________________

68

REMARKS:

If any

p a rt o f t h is

re p o rt in c lu d e s

d ata

t o t a l e m p lo y m e n t , a s o f M a r c h 15* f o r

fo r

m ore

th a n

e ach o f th e se

one

e s t a b lis h m e n t ,

e s t a b lis h m e n t s a n d

in d ic a t e

th e

lo c a t io n ,

m a jo r a c t iv it y ,

and

th e it e m s in w h ic h c o m b in e d d a t a w e re e n te r e d .

T o ta l num ber of
M a jo r
E s t a b lis h m e n t lo c a t io n

If

th e s u p e r v is o r y

in d ic a t e

w h ic h

o r n o n s u p e r v is o r y

o th e r

e m p lo y e e

e m p lo y e e

e m p lo y e e s a s o f

a c t iv it y

c o lu m n

g r o u p s a re in c lu d e d ,

c o n t a in s

th e

d a ta

M a rc h

fo r m ore

num ber o f su ch

15

th a n th e

e m p lo y e e s , a n d

It e m s

s p e c ifie d

e m p lo y e e

ca te go ry ,

th e it e m s

in

c o m b in e d

w h ic h

d a ta w ere e n tered .
Num ber

O th e r e m p lo y e e g r o u p s in c lu d e d

IF A N Y

ESTIMATED

M E T H O D O F

D A T A

ESTIMATION.

A R E

I N C L U D E D

IN

A N Y

O F

T H E ITEMS, I D E N T I F Y

T H E

It e m s

ITEM A N D

INDICATE

THE

_________________________________________________________________________

N a m e o f a u t h o r iz in g o f f ic ia l

T it le

D a te

(Please print or type.)

D o y o u w a n t a c o p y o f th e B u r e a u 's re p o rt fo r t h is s u r v e y ?




---------

Yes

□

No

□

69

EXPLAN ATIO N
SHEET

BLS 2781
Expenditures for Selected Supplementary Employee Remuneration
Practices in Finance, Insurance, and Real Estate, 1961

Epaain
xlntos
P le a se L im it the R ep ort to the E s ta b lis h m e n ts ) at the L oca tion Identified on the F o r m :
In the ca se of com pa nies with m o r e than one establishm ent, it is p r e fe r r e d that a
sep arate re p o rt be p rep a red fo r the estab lishm ent(s) at the loca tion (county, State,
etc. ) iden tified on the top o f the questionnaire fo r m . If individual establishm ent
r e co r d s are not m aintained, plea se a ssign to the estab lish m en t(s) at the sp e cifie d
lo ca tion its p roportion ate share of the com bined fig u re. Should it be n e ce s s a r y to
re p ort com bin ed fig u re s , p lea se indicate in the ''R e m a rk s " section w hich item c o n ­
tains data fo r m o re than one establishm ent and which establishm ents are included.
P le a se R ep ort Separate F ig u res fo r Each Item :
If sep arate data are not available fo r individual item s, p lea se p rora te the c o m ­
bined fig u re am ong the item s to which it re la te s. If reportin g o f a com bin ed f ig ­
u re cannot be avoided, plea se b ra ck et (or oth erw ise indicate) the lines included in
the com bin ed fig u re. IF NO MAN-HOURS OR EXPENDITURES WERE INVOLVED
DURING THE Y EAR FO R A GIVEN ITEM , EN TER "NONE" IN THE A P P R O ­
PRIA TE SPACE.
P lea se do not lea ve any sp aces blank.
This re p o rt exclu des s e lf-e m p lo y e d p erson s for whom the com pany does not pay Social
Security (such as certa in sa lesm en on co m m issio n ).
What to R ep ort as N on su p ervisory E m p lo y e e s :
Include em p loyees such as in su ran ce, b rok era ge and c o m m issio n , and re a l estate
sa lesm en , investm ent and secu rity a d v is o rs , in su ran ce and s ecu rity c le rk s , te lle rs ,
b oa rd boys, gen eral o ffic e c le rk s , o ffic e -m a c h in e o p e ra to rs , m e s s e n g e r s , m a in ­
tenance and cu stod ia l, and other em p loyees below the s u p e rv iso ry le v e l, w hose
s e r v ic e s are c lo s e ly a s so cia te d with those of em p loyees listed above. Included in
the n on su p erv isory ca teg ory are em p loyees who m ay be "in ch a rg e" of a group of
em p loyees but w hose s u p e rv iso ry functions are only incidental to their reg u ­
la r w ork.
Exclude o ffic e r s of c o rp o ra tio n s, p rin cip a l ex ecu tiv es, such as m a n a gers, heads
of departm ents, and oth ers who are p rim a rily engaged in planning and directin g
the w ork o f su bordin ates.
What to R ep ort as S u p ervisory E m p lo y e e s :
Include sa la ried o ffic e r s of corp ora tion s and p rin cip a l execu tives such as m an­
a g e r s , departm ent heads, and all oth ers who are p rim a rily engaged in directin g
the w ork of su bordin ates, but do not include p r o p rie to r s , m em b ers of u n in corp o­
rated fir m s , o r unpaid fa m ily w o rk e rs.
NO TE: G en erally, the c la s s ifica tio n of su p e rv iso ry em p loyees is the sam e as
"e x em p t" and n on su p erv isory as "n on exem pt" under the F a ir L abor Standards A ct.

Idv d a I e s
ni i u l t m
4.

E m p loym en t:
F o r each em p loyee ca teg ory, rep ort the num ber of p erson s (both fu ll-tim e and
p a rt-tim e ) who w orked or r e ce iv e d pay fo r any part of the pay p eriod ending
n ea rest the 15th o f the month.

5 -A .

G ross Pay and T otal M a n -H ou rs:
F o r each em p loyee ca teg ory, rep ort the total amount paid to em p loyees during
the y ea r. Include pay fo r o v ertim e, standby tim e, h olida ys, vacations, and sick
lea ve, paid by the establishm ent d ire ctly to the w ork er. A lso include c o m m is ­
sion s, bonuses not paid regu la rly each pay p eriod (e. g. , C h ristm as bon u ses) and
pay not earned during the year (e. g. , re tro a ctiv e pay, d is m is s a l pay). A ll p a y­
m ents should be shown p r io r to such deductions as em p lo y e e s ' S ocia l S ecu rity
contrib ution s, withholding taxes, group in su ran ce, union dues, and savings bonds.
Exclude value of fr e e rent, fuel, o r other payment in kind, m ade fo r the c o n ­
venience o f the e m p loy er.
You m ay follow the definition o f g ro s s pay that is
used fo r in com e tax pu rposes on the W ithholding Tax F o rm .




70

A lso re p o rt the total num ber of m a n -h ou rs fo r w hich pay was given during the y ea r.
(T ota l m a n -h ou rs are the m a n -h ou rs that are related to the g ro s s pay.) This should
include ’ ’plant" m a n -h ou rs (i.e ., m a n -h ou rs spent at the estab lishm ent during re g u ­
la r w orkdays as w e ll as during holiday and vacation p eriod s that w ere not taken),
m a n -h ou rs paid fo r standby or rep ortin g tim e, and the m a n -h ou rs equivalent to pay
fo r tim e spent away fr o m the "p lan t" during paid h olid a ys, paid va ca tion s, etc.
To determ in e the m a n -h ou rs equivalent to the pay r e ce iv e d divide the payment fo r
the item by the e m p lo y e e 's average h ourly pay.
F o r exam ple, if an em p loyee
who is regu la rly paid $ 2 an hour was given $5 fo r a d a y's a b sen ce fo r ju ry duty,
the m a n -h ou rs equivalent to the pay r e ce iv e d w ould be 2 V2 hours ( i . e . , $5-r$2).
S im ila rly, if an em p loyee re ce iv e d a d a y's s ick leave at h alf his regu lar rate
of pay, the m a n -h ou rs equivalent w ould be 4, even though the em p loyee was a b ­
sent fo r 8 h ou rs. (NO TE: F o r sa la ried em p loyees the average h ou rly pay would
n orm a lly be the w eekly sa la ry divided by the sch eduled w o rk w e e k .)
Do not con v ert o v ertim e or other prem iu m
lent h ou rs.
5 -B .

paid hours to stra ig h t-tim e equ iva­

Paid L e a v e :
This section is intended to m ea su re the extent to w hich em p loyees w ere granted
paid leave during the y e a r. F o r each type o f excu sed a b sen ce listed , re p o rt total
paym ents m ade d ire ctly to the em p loyee by the com pany and the m a n -h ou rs eq u iv ­
alent to the payments m ade.
If an em p loyee did not r e c e iv e fu ll pay fo r an e x ­
cused a b sen ce, re p o rt only the m a n -h ou rs equivalent to the pay re ce iv e d .
1.

Paid v a ca tio n s. — R ep ort total vacation payments m ade by the com pany d ire ctly
to the em p loyee during the y ea r, and the total m a n -h ou rs equivalent to those
paym ents, w hether vacations w ere taken or not. If an em p loyee w ork ed during
his vacation p eriod , and was given both pay fo r w ork and pay in lieu of v a c a ­
tion, re p o rt h ere only the payments in lieu of vacation and the m a n -h ou rs
equivalent to them.
If em p loyees who left the com pany w ere paid fo r unused vacation, re p o rt the
paym ents m ade and the m a n -h ou rs equivalent to the paym ent.
E xclude contributions to union o r other vacation funds.
p orted in Item 6 -B -4 , V acation and H oliday Funds.

T h ese are to be r e ­

2.

3.

Paid h o lid a y s. — R ep ort total h oliday paym ents m ade by the com pany d ire ctly
to the w ork ers during the y ea r, and the total m a n -h ou rs equivalent to these
paym ents, w hether the holidays w ere taken o r not.
F o r w o rk e rs who w orked
on a paid h oliday, and re ce iv e d both pay fo r w ork and pay in lieu o f tim e off,
re p o rt only the holiday pay the w ork er w ould have r e ce iv e d if he had not
w orked and the m a n -h ou rs equivalent of this h oliday pay.
E xclude the regu lar
stra ig h t-tim e pay fo r w ork actually p e rfo rm e d and prem iu m pay fo r w ork on a
h olida y.
(P rem iu m pay is d e s crib e d in Item 5 - C - l , on page 2 .)

4.

5 -C .

Paid s ick le a v e . — R ep ort total s ick leave paym ents m ade by the com pany
d ir e c tly to the w ork ers during the year and the m a n -h ou rs equivalent to these
sick leave paym ents.
Paym ents m ade d ir e c tly to the w ork er under s e lfin su ran ce p ro v isio n o f State T em p ora ry D isa bility Insurance laws should be
rep orted in Item 6 -A -4 , Other L egally R eq u ired Paym en ts. Expenditures fo r
insu ran ce prem iu m s should be rep orted in Item 6 -B -2 , H osp ita liza tion , S ick ­
n ess and A ccid en t Insurance, and M ed ica l P lans.

Paid m ilita ry , ju ry, w itn ess, voting, and p erson a l le a v e . — R ep ort total p a y ­
m ents m ade by the com pany, d ir e c tly to the w ork ers during the yea r and the
m a n -h ou rs equivalent to these paym ents fo r m ilita ry , ju ry , w itn ess, o r voting
lea ve, o r leave granted fo r p erson a l rea son s such as death in the fam ily,
attendance leave bonuses, etc.

P rem iu m s A bove R egular Pay R a te s :
In this section it is n e ce s s a r y to distinguish betw een the regu la r h ourly rate fo r
w ork during the n orm a l day hours and the extra amounts paid fo r w ork after the
regu lar day h ou rs, on h olida ys, etc.
Only expenditures fo r the extra pay are to
be rep orted h e re ; exclude the p ortion that rep resen ts the regu la r rate.
F o r each
em p loyee ca teg ory , re p o rt total expenditures during the year fo r the prem iu m s for
each type of w ork listed ; do not rep ort the rate o f pay.
1.




P rem iu m pay fo r daily ov ertim e, w eekly ov e rtim e , and w eekend and holiday
w o rk . — Include only pay above the regu lar h ourly ra te s .
Thus, if an em p loyee, who re ce iv e d $ 1 .5 0 an hour fo r stra ig h t-tim e, was
paid am additional $ 0 .7 5 an hour as prem iu m fo r o v e rtim e , the o v ertim e e x ­
penditures rep orted h ere should include only the $ 0 .7 5 o v ertim e prem iu m . In­
clude prem iu m pay fo r Saturday and Sunday o r fo r 6 th and 7th days as such.

71

F o r prem iu m pay fo r holiday w ork , it is n e ce s s a r y to distinguish betw een the
extra pay fo r w ork on a holiday, the paym ent at the regu lar rate fo r w ork
p e rfo rm e d , and the h oliday pay the w ork er would have r e ce iv e d if he had not
w orked.
T otal expenditures fo r holidays w hich w ere w orked should be refin ed
as follow s to obtain expenditures for p rem iu m pay:
E xclude regu la r stra ig h t-tim e pay fo r w ork actually p erfo rm e d .
E xclude the
holiday pay the em p loyee would have re ce iv e d if he had not w orked.
The b a l­
ance is the p rem iu m fo r w ork on h olida ys, w hich should be rep orted h ere.
EXAMPLE:

EXAMPLE:

E m ployee was paid tr ip le -tim e fo r w ork on what would have been
a paid h olida y. O ne-third of this pay should be rep orted as e x ­
penditures fo r prem iu m pay.

EXAMPLE:

5 -D .

E m ployee was paid d ou b le-tim e and on e -h a lf fo r w ork on a paid
holiday.
That is , he was paid his regu la r stra ig h t-tim e pay fo r
w ork p e r fo rm e d , the h oliday pay he w ould have r e ce iv e d if he had
not w orked, and an extra h a lf-tim e as a h olida y p rem iu m .
In this
c a s e , only the expenditures fo r the on e-h a lf tim e should be r e ­
ported h ere.

EXAMPLE:

2.

E m ployee w as paid d ou b le-tim e fo r w ork on a paid h olida y. That
is , he was paid his regu lar stra ig h t-tim e pay for w ork p e rfo rm e d
and the holiday pay he would have r e ce iv e d if he had not w orked.
In this ca se , no expenditure fo r p rem iu m pay w ould be rep orted
h e re .

E m ployee was paid tim e -a n d -o n e -h a lf fo r w ork on an unpaid h o li­
day.
That is, he would have r e ce iv e d _no pay if he had not
w orked. In this c a se , the expenditures on the on e -h a lf tim e should
be rep orted as prem iu m pay fo r w ork on a holiday.

D ifferen tia l fo r nightw ork. — Include only shift prem iu m pay above regu lar
h ou rly rates fo r the day shift.
This c o v e r s not only d ifferen tia l paid in the
fo r m o f a higher h ourly rate, but sp ecia l paym ents to la te -s h ift w ork ers fo r
m ea l p eriod s and fo r any other hours not w orked by them but paid fo r (e. g. ,
if la te -s h ift w o rk e rs r e ce iv e 8 hours pay fo r l lh h o u r s ' w ork, com p a red with
8 h o u rs'
w ork fo r the day shift, total expenditures fo r the V h o u r's pay
2
should be rep orted as shift d ifferen tia l).

C h ristm a s,

Y earend,

and Other Irreg u la r B o n u se s:

R eport s p e cia l bonus paym ents m ade at the end o f the calendar or fis c a l year or
during the C h ristm as sea son .
Include only cash paym ents.
E xclude regu la rly
paid bonuses (such as w eekly and monthly production bon u ses) and bonuses in the
fo r m of m erch a n d ise.
6 -A .

L egally R eq u ired In su ra n ce:
R eport the net lia b ility in cu rred by the com pany fo r the year 1961 fo r em p loyee
benefit p rogra m s that are req u ired by law.
E xclude em p loyee contributions to
the paym ents.
R ep ort the net lia b ility in cu rred fo r 1961 rather than the amount
paid during 1961.
F o r exam ple, rep ort S ocia l Secu rity tax paym ents fo r the
fourth qu arter of 1 9 6 1 , even though they w ere paid in the fir s t qu arter o f 1 9 6 2 .
E xclude paym ents fo r the fourth quarter of I960 even though they w ere paid in
the fir s t qu arter o f 1 9 6 1 .
1.

S ocia l S ecu rity T axes (FICA) fo r Old Age, S u rviv ors, and D isa bility In su r­
a n ce. — R ep ort the lia bility in cu rred for 1961 rather than the amount paid
during 1961.
NOTE: If you obtain your fig u res fro m your "Q u a rterly R e ­
port o f W ages T axable Under the F e d e ra l Insurance Contributions A ct (for
S ocia l S ecu rity), " (F orm 941), plea se exclude amounts deducted fr o m e m ­
p lo y e e s ' pay.

2.

Unem ploym ent C om pensation . — R eport sep arately paym ents to State g o v e rn ­
m ents and to the F e d e ra l governm ent.

3.

W orkm en 's C om pensation In su ra n ce. — R eport net expenditures during the year
for in su ran ce prem iu m s (i. e. , prem iu m s l e s s , refunds) and payments to
State funds.




72

If under State laws your com pany qu alifies as a s e lf-in s u r e r , rep ort the total
net expenditures m ade during the y ea r fo r W ork m en 's Com pensation benefits
that are req u ired by law.
Do not include c o s ts o f m e d ica l and fir s t -a id
s e r v ic e s n orm a lly supplied by the com pany.
4.

6 -B .

O ther, including State T em p ora ry D isa b ility In su ra n ce .— Sp ecifv each other
leg a lly req u ired p rog ra m fo r w hich expenditures w ere m ade.
Include total
paym ents m ade to in su ran ce c a r r ie r s , to State or oth er funds, o r d ir e c tly to
the em p loyee fo r those benefits req u ired by law w hich have not been accounted
fo r elsew h ere in this section .
E xam ples o f item s to be included h ere a re:
R a ilroa d retirem en t b en efits, r a ilro a d unem ploym ent in su ran ce, and State
T em p ora ry D isa b ility Insurance.
(T em p ora ry D isa b ility Insurance laws co v e r
w ork ers in the States o f C a liforn ia , New J e r s e y , New Y ork , and Rhode Island,
and in the ra ilro a d industry throughout the coun try.
Include paym ents m ade
by the establishm ent d ire ctly to em p loyees, under s e lf-in s u ra n c e p ro v isio n s
of the law. )

P riva te W elfa re P la n s:
E xclude paym ents alrea dy rep orted under Item 5 -B , Paid L eave, and Item 6 -A ,
L eg a lly R eq u ired Insurance. E xclude w ork er contribution s to the paym ents. In­
clude com pany paym ents to funds and to plans fin an ced through p ro fit sharin g.
F o r paym ents to in su ran ce c a r r ie r s re p o rt only net expenditures (i. e. , prem iu m s
le s s reb a tes, refunds, and dividends r e ce iv e d during the y ea r, u nless they go to
pu rch ase additional in su ran ce).
1.
2.

L ife in su ran ce and death b e n e fits , and
H osp ita liza tion , sick n ess and a cciden t in su ran ce,

and m e d ica l plans

R ep ort net expenditures fo r in su ran ce prem iu m s and paym ents to w elfa re
funds.
E xclude adm in istrative expenses in cu rred by the com pany and e m ­
ployee contribution s to the paym ents fo r the plan.
3.

P en sion and retirem en t plans
R ep ort p rem iu m s paid by the com pany to an in su ran ce c a r r ie r , le s s dividends
o r other c re d its ; com pany paym ents into an ir r e v o c a b le trust fund; and c o m ­
pany paym ents to p en sion ers under p a y -a s -y o u -g o plans (i. e. , unfunded plans).
Paym ents fo r past s e r v ic e lia b ility as w ell as cu rren t s e r v ic e cre d its should
be rep orted .
Exclude adm in istrative co sts in cu rred by the com pany and e m ­
ployee contributions to the paym ents fo r the plans.

4.

V acation and h oliday funds
R ep ort total paym ents during the year to sep arate funds (such as u nionm anagem ent funds) which are given the resp on sib ility fo r disbu rsin g vacation
and holiday benefits to w o rk e rs . E xclude w ork er paym ents into such funds.
Com pany paym ents d ire ctly to the w ork er should be rep orted under Paid L eave
(Item s 5 - B - l and 5 -B -3 ).

5.

S everan ce or d is m is s a l p a y .— This item c o v e r s plans which are design ed to
provid e paym ents in ca se of lo s s of em ploym ent. T h ese plans are also r e ­
fe r r e d to as term ination or la yoff pay plans.
N orm a lly they p rovid e lu m p­
sum paym ents. R eport paym ents m ade by the com pany during the y ea r, d i­
r e ctly to separated w ork ers or to funds w hich are resp on sib le fo r making
such paym ents to sep arated w o rk e rs .
Paym ents to plans w hich are p rim a rily
supplem ental unem ploym ent benefit plans, should not be rep orted h ere.

6.

Savings and th rift plans,
Stock pu rch ase plans

7.

and

Under these plans, w ork er savings are supplem ented by com pany contribution s.
R ep ort cash paym ents, m ade by the com pany during the yea r, to a separate
fund o r to w ork er accou n ts.
Exclude in terest cred ited to the w o r k e r 's a c ­
count.
A lso exclude payments m ade in the fo r m o f stock and paym ents m ade
under arrangem ents w hich are p rim a rily pension plans.
Paym ents to funds
w hich are p rim a rily designed to provid e pension o r retirem en t benefits are to
be rep orted in Item 6 -B -3 , P en sion and R etirem en t P lans.
8.

Other
R ep ort total paym ents m ade to insu ran ce c a r r ie r s , to union o r oth er funds, o r
d ire ctly to the em p loyee fo r those plans w hich have not been co v e r e d elsew h ere
in this section .

U DEPARTM T OF LABOR
.S.
EN
B R A O LABOR STATISTICS
UEU F
W SH G O 25, D.C.
A IN T N

U.

S.

G O VERNM ENT




P R IN T IN G

O F F I C E : 196 4 O - 7 4 5 -9 9 6

BUREAU OF LABOR STATISTICS REGIONAL OFFICES

SAN
FRANCISCO
ft N
R e g io n V —

1 36 5 O n t a r io Stre e t
C le v e la n d , O h io 4 4 1 1 4
R e g io n I V —

N o rth C e n tra l

T e l. :

2 4 1 -7 9 0 0

W e ste rn
2 19 S o u th D e a rb o rn Stre e t

4 5 0 G o ld e n G a te A v e n u e
S a n F r a n c is c o , C a lif . 9 4 1 0 2
T e l. :
5 5 6 -4 6 7 8




C h ic a g o ,
T e l. :

111. 6 0 6 0 3
8 2 8 -7 2 2 6

R e g i o n 111—

S o u th e rn

137 1 P e a c h tre e S tre e t, N E .
A t la n t a , G a .
30309
T e l. : T R in it y 6 -3 3 1 1