Want to be a millionaire in just five years? It’s actually not as difficult as you may think, you just have to sell your soul to the New York City government.
A report from Forbes found that about 1,400 NYC public employees are set to earn more than $1 million in the next five years — some in even less time than that. Further, 83,400 city employees earn more than $100,000 annually, a 10% increase from just two years ago.
“Despite his promise to reform to [sic] pay and perquisites, Mayor Bill De Blasio showered the city workforce with billions of dollars in overtime and extra pay. Last year alone, this amounted to $3.2 billion,” Forbes reported.
The report also found that 162,000 city workers earned $2 billion on 34 million hours of overtime. Another $1.2 billion came from “bonuses, lump sums, allowances, retroactive pay increases, settlement amounts, differentials, and more.”
And it’s not government bureaucrats raking in the dough, but blue-collar workers including carpenters, mechanics, plumbers, welders, and others. In response to a Forbes inquiry, NYC Mayor Bill De Blasio’s office downplayed the amount of overtime paid out and pointed to only police and firefighters as the recipients.
“The hard work carried out by our dedicated public servants — including police officers and firefighters — has made New York City the safest big city in America. Overtime is occasionally necessary to face unplanned events or meet critical operational needs. We take our fiscal responsibility seriously and are constantly monitoring its use,” De Blasio’s office said.
But the Forbes report found more than just police and firefighters earning big payouts. Carpenters making $192,711; plasterers making $184,521; city painters making $168,804; and thermostat repairers making $213,904 were just a few of the big-dollar finds in the report.
Forbes found the Department of Corrections to be one of the biggest spenders – employing 66 out of the 100 top overtime earners in 2017.