KLOORATrue Cost of an Employee Calculator
Find what an employee really costs you with payroll taxes, benefits and overhead.
Quick answer: True Cost of an Employee Calculator: Find what an employee really costs you with payroll taxes, benefits and overhead. Everything runs in your browser, so nothing you enter is uploaded or stored.
How to use True Cost of an Employee Calculator
- Enter your values in the fields.
- The results update instantly as you type.
- Note or copy the numbers you need.
Features
- Instant results
- Free, no signup
- Runs in your browser, nothing is uploaded
- Works on phone and desktop
How it works
Total cost = salary + employer FICA (7.65 percent) + FUTA (about 42 per employee) + state unemployment + workers comp + benefits + overhead.
Worked example
A 60,000 salary with 8,000 of benefits and 2,500 of overhead costs about 76,300, or 1.27 times salary.
Frequently asked questions
What does an employer pay on top of salary?
7.65 percent FICA match, federal and state unemployment tax, workers compensation, benefits and overhead.
What is the rule of thumb?
Many employers budget 1.25 to 1.4 times salary.
Is the True Cost of an Employee Calculator free?
Yes. It is free, needs no signup and works on any device.