I was taught to estimate burdened (i.e., with company's cut of taxes, healthcare, cost of tooling and cubicle space, administration, etc.) engineering time at $

I was taught to estimate burdened (i.e., with company's cut of taxes, healthcare, cost of tooling and cubicle space, administration, etc.) engineering time at $100/hr on average. More recently I've learned the average burdening correction is 130% of salary. By these estimations, you get one engineer and $150k leftover (not quite enough for the second,) or two $130k/yr engineers (respectively.) Edit: This is not to imply that 130% is the "correct" number for your industry or area, only that it's what we use in my neck of the woods.