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n 2018 in Albany, the starting base pay police officer is about 57540 for However there are several incentive pay per year. pportunities. When an officer qualifics for SEveral incontives, each one is culcul atcd soparately and then added together.

n 2018 in Albany, the starting base pay police officer is about 57540 for However there are several incentive pay per year. pportunities. When an officer qualifics for SEveral incontives, each one is culcul atcd soparately and then added together.

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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## Police Officer Base Pay and Incentive Structure in Albany (2018) In 2018 in Albany, the starting base pay for a police officer is approximately $57,540 per year. However, there are several incentive pay opportunities. When an officer qualifies for several incentives, each one is calculated separately and then added together. Below is a table showing several possible incentives and the associated pay rates: | **Incentive** | **Percent of Base Pay** | |-----------------------------------------------------|-------------------------| | Two-year degree | 3% | | Four-year degree | 6% | | Intermediate Spanish | 3% | | Advanced Spanish | 5% | | Passing the Oregon Physical Abilities Test (ORPAT) in less than 5 minutes and 30 seconds | 2% | ### Example Calculation: If an officer qualifies for both a two-year degree and passing the ORPAT in less than 5 minutes and 30 seconds, their incentive pay would be: - Two-year degree: 3% of $57,540 - ORPAT: 2% of $57,540 These amounts would then be added to the base pay to determine the total annual salary. ### Example Question: **D. Over 20 years, how much money would a new officer lose by not passing the ORPAT?** To answer this question: 1. Calculate the annual incentive for passing the ORPAT: - 2% of $57,540 = $1,150.80 per year. 2. Multiply this annual amount by 20 years: - $1,150.80 * 20 = $23,016. Thus, an officer would lose $23,016 over 20 years by not passing the ORPAT.
Transcribed Image Text:## Police Officer Base Pay and Incentive Structure in Albany (2018) In 2018 in Albany, the starting base pay for a police officer is approximately $57,540 per year. However, there are several incentive pay opportunities. When an officer qualifies for several incentives, each one is calculated separately and then added together. Below is a table showing several possible incentives and the associated pay rates: | **Incentive** | **Percent of Base Pay** | |-----------------------------------------------------|-------------------------| | Two-year degree | 3% | | Four-year degree | 6% | | Intermediate Spanish | 3% | | Advanced Spanish | 5% | | Passing the Oregon Physical Abilities Test (ORPAT) in less than 5 minutes and 30 seconds | 2% | ### Example Calculation: If an officer qualifies for both a two-year degree and passing the ORPAT in less than 5 minutes and 30 seconds, their incentive pay would be: - Two-year degree: 3% of $57,540 - ORPAT: 2% of $57,540 These amounts would then be added to the base pay to determine the total annual salary. ### Example Question: **D. Over 20 years, how much money would a new officer lose by not passing the ORPAT?** To answer this question: 1. Calculate the annual incentive for passing the ORPAT: - 2% of $57,540 = $1,150.80 per year. 2. Multiply this annual amount by 20 years: - $1,150.80 * 20 = $23,016. Thus, an officer would lose $23,016 over 20 years by not passing the ORPAT.
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