The cost of an employee is more than their salary. Hiring an employee often involves paying a portion of their social security, medicare and unemployment taxes. Many companies offer benefits regarding various insurance programs, where the company may pay a portion of the cost, contributions to retirement plans or pensions and other fringe benefits that add to the hiring cost. When looking employee compensation, it is important to consider all of these expenses rather than just the direct salary.
Total Employee Compensation Package
Total Employee Compensation Package
Total Employee Compensation Package
Wages
$ 75,000
Government Benefits
$ 6,171
Insurance Benefits
$ 11,385
Retirement Benefits
$ 5,725
Fringe Benefits
$ 695
Total Compensation
$ 98,976
Our website does not provide, and is not responsible for, the product, service, or overall website content on third-party websites. Its privacy polices do not apply to linked third-party websites. Visitors should consult the privacy disclosures on any particular website for further information.