Immediate Benefits to Employer |
|
INTRODUCTION |
No Wage Tax |
|
You might be surprised to learn how much you pay out in |
No Vacations, Holidays, |
|
other benefits, in addition to an in-house Administrative |
Personal or Sick Days |
|
Assistant’s salary. Employer has both required and |
No Insurance |
|
discretionary payment to make on behalf of an employee. |
No Retirement or Fringe |
|
|
|
|
|
|
No Office Space |
|
ANALYSIS |
No Hardware or Software |
|
In this example, the in-house Administrative Assistant is paid |
|
No Repairs or Maintenance |
|
an annual salary of $60,000. You will pay an additional $25,836 |
|
|
|
in benefits, which is 43% of this employee’s annual salary. For |
|
|
|
ease of discussion all calculations are based on a 40 hour week. |
|
|
|
|
|
|
|
|
|
|
Total Compensation Analysis |
Paid by Employer |
|
|
|
Annual Wages |
|
|
$60,000 |
|
|
|
|
|
|
|
|
|
|
Time Off Benefits |
|
|
|
|
|
|
Vacation Days (5) |
1.92% |
|
$1,154 |
|
|
|
Paid Holidays (7) |
2.69% |
|
$1,616 |
|
|
|
Personal or Sick Days (5) |
1.92% |
|
$1,154 |
|
|
|
Figures do not include Paid Lunch & Breaks |
|
|
|
|
|
|
Total Time Off |
6.54% |
|
$3,924 |
|
|
|
|
|
|
|
|
|
|
Government Benefits |
|
|
|
|
|
|
Social Security and Medicare |
7.65% |
|
$4,590 |
|
|
|
Worker’s Compensation |
1.82% |
|
$1,092 |
|
|
|
Unemployment Benefits |
2.70% |
|
$1,620 |
|
|
|
Total Government Benefits |
12.17% |
|
$7,302 |
|
|
|
|
|
|
|
|
|
|
Insurance Benefits |
|
|
|
|
|
|
Medical |
20.00% |
|
$12,000 |
|
|
|
Life |
0.14% |
|
$84 |
|
|
|
Disability |
1.54% |
|
$924 |
|
|
|
Dental |
0.58% |
|
$348 |
|
|
|
Supplemental |
0.00% |
|
$0 |
|
|
|
Other |
0.00% |
|
$0 |
|
|
|
Total Insurance Benefits |
22.26% |
|
$13,356 |
|
|
|
|
|
|
|
|
|
|
Annual Retirement Benefits |
|
|
|
|
|
|
401(k)/403(b)/Other |
2.10% |
|
$1,260 |
|
|
|
Other |
0.00% |
|
$0 |
|
|
|
Annual Retirement Benefits |
2.10% |
|
$1,260 |
|
|
|
|
|
|
|
|
|
|
Other Monthly Fringe Benefits |
|
|
|
|
|
|
Parking |
0.00% |
|
$0 |
|
|
|
CE/Tuition |
0.00% |
|
$0 |
|
|
|
Gym Membership |
0.00% |
|
$0 |
|
|
|
Daycare |
0.00% |
|
$0 |
|
|
|
Other |
0.00% |
|
$0 |
|
|
|
Other Monthly Fringe Benefits |
0.00% |
|
$0 |
|
|
|
|
|
|
|
|
|
|
Paid by Employer |
43.07% |
|
$25,842 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|