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"Payroll tax" (more appropriately known as the employer-side of the FICA tax) is only 7%, it's really not what I would qualify as "a bitch". My wages are 80% of
by snuxoll 10y ago
"Payroll tax" (more appropriately known as the employer-side of the FICA tax) is only 7%, it's really not what I would qualify as "a bitch". My wages are 80% of my total compensation (my employer provides a nice breakdown of insurance costs, 401(k) match, etc), factor in 7% of my wages going to FICA and their total cost to employ me with my total compensation package is ~125% of my annual salary.
I also make a fairly lower wage than the industry average since I'm not in SV, insurance rates don't increase proportionately with salary so if this is what I'm seeing at $75K/yr then at $200K/yr gross these employees are most certainly seeing at least $150K/yr in their salaries.
- wyager 10y agoNot in CA. http://www.adp.com/-/media/Compliance/2016%20Fast%20Wage%20and%20Tax%20Facts/2016FastFactsCA.ashx?la=en http://www.adp.com/-/media/Compliance/2016%20Fast%20Wage%20a...
- snuxoll 10y agoAh, yes, forgot about UI and workers comp, so let's make that ~130% (assuming an employer doesn't have egregious numbers of unemployment claims which cause their UI to skyrocket).
- EvanAnderson 10y agoIn my market (Ohio, US) loaded cost of an employee is between 130% and 135% of salary.