$106,800
Vacation is another cost but is subsumed in the basic salary. The costs to this point (basic salary, employment taxes and benefits) are typically in the 1.25 to 1.4 times base salary range-e.g. the cost range for a $50,000/year employee might $62,500 to $70,000. Vacation is another cost but is subsumed in the basic salary. The costs to this point (basic salary, employment taxes and benefits) are typically in the 1.25 to 1.4 times base salary range-e.g. the cost range for a $50,000/year employee might $62,500 to $70,000. Space. Unless you are hiring traveling salespeople, you need to provide some physical space to house the new employee. Basic salary and employment taxes are a minimum-in most cases you will need to provide some benefits. Typical benefits for a $50,000 salaried employee include life insurance ($150) and health coverage ($2,000-$3,000 for single persons; $6,000-$7,2000 for families-http://www.ahrq.gov). Employers in Italy – the European country with the highest employment costs – have to pay an extra USD 15,544 in social security costs on top of a salary of USD 30,000 (55% of gross salary). In Denmark, employers have to pay an extra USD 1,632 – just 5.4% of the gross salary. For a gross salary of USD 300,000 the average employer has to pay an extra USD 41,206, 13.7% of the gross salary. Ladislav Hornan, Chairman of UHY, says: “Governments in many countries have heaped on extra employment costs over the past decade or so. Cost Breakdown. According to BLS, wages and salaries average $20.91 per hour worked, while employer paid benefits average $9.15 per hour. Interestingly, private businesses, like yours, pay less, averaging $28.10 per hour for wages and benefits. However, state and local government employee costs average $40.54 per hour. Average per hour employee cost is $30.07 in the US. hierarchy or promotion image by seema1 from Fotolia.com. Employers pay a substantial amount more than salaries for their employees. The US Bureau of Labor Statistics states that the average employee compensation averaged $30.07 per hour for March 2011. In addition to compensation, employers pay for benefits, along with local, state and federal taxes UHY says that average G7 employers have to pay an extra USD 7,263 (24.2%) on top of a gross salary of USD 30,000, and an extra USD 61,063 (20.4%) on top of salaries of USD 300,000. For average employers in BRIC countries, the respective employment costs are USD 8,488 (28.3%) and USD 56,565 (18.9%). For a gross salary of USD 300,000 the average employer has to pay an extra USD 41,206, 13.7% of the gross salary. Ladislav Hornan, Chairman of UHY, says: “Governments in many countries have heaped on extra employment costs over the past decade or so. UHY says that the average employer will have to pay out an extra USD 6,757 on top of a gross salary of USD 30,000 in various employment costs (22.5% of gross salary), from mandatory pension provisions to healthcare cover. For a gross salary of USD 300,000 the average employer has to pay an extra USD 41,206, 13.7% of the gross salary. Ladislav Hornan, Chairman of UHY, says: “Governments in many countries have heaped on extra employment costs over the past decade or so. Employer Tax Costs. You should budget for Social Security/FICA taxes for each employee. These are currently 6.2 percent of the first $106,800 of compensation for each employee. Unemployment taxes amount to another 6.2 percent of $7,000 in pay. Average per hour employee cost is $30.07 in the US. hierarchy or promotion image by seema1 from Fotolia.com. Employers pay a substantial amount more than salaries for their employees. The US Bureau of Labor Statistics states that the average employee compensation averaged $30.07 per hour for March 2011. In addition to compensation, employers pay for benefits, along with local, state and federal taxes Salary Related Costs for Employers. Technology equipment may be considered a salary-related cost. keyboard with-salary-button image by air from Fotolia.com. Employees may not fully understand how much they cost their employer, perhaps thinking that their salary and benefits are the only expenses the business must incur. Salaries and wages account for 69.6 percent of a business' employee compensation expenses, according to the U.S. Bureau of Labor Statistics (BLS). While some costs can be controlled, most employers must bear.a number of salary-related costs beyond base salary.
http://web.mit.edu/e-club/hadzima/pdf/how-much-does-an-employee-cost.pdf http://web.mit.edu/e-club/hadzima/how-much-does-an-employee-cost.html http://www.uhy.com/employers-now-pay-average-employment-costs-worth-nearly-25-of-employees-salaries/ http://smallbusiness.chron.com/costs-employers-pay-paying-employee-salaries-12569.html http://www.uhy.com/employers-now-pay-average-employment-costs-worth-nearly-25-of-employees-salaries/ http://www.uhy.com/employers-now-pay-average-employment-costs-worth-nearly-25-of-employees-salaries/ http://smallbusiness.chron.com/costs-employers-pay-paying-employee-salaries-12569.html http://smallbusiness.chron.com/salary-related-costs-employers-12037.html
salary costs to employer