Employee Cost Calculator
|
|
|
|
|
Use for budgeting and planning, to show an employee the value of their benefits,
or to compare the cost of an employee to the hourly rate for a
subcontractor.
|
|
If using to compare the cost of a subcontractor to a new hire,
note that there are penalties for classifying someone as a subcontractor who
SHOULD be an employee, and you may still need to cover a subcontractor under
your workers compensation and/or liability policy if they don't have their
own insurance and provide proof of coverage.
|
|
Using the Calculator
|
|
GREEN fields are the minimum information required for most employees. YELLOW ones are optional. You can change the text in BLUE boxes.
All other fields are locked.
|
This calculator does NOT adjust for overtime hours. All overtime is used in calculations as if it were regular time.
|
|
|
|
HOURLY RATE
|
|
|
|
|
|
|
|
For salaried employees, enter annual wages here to compute an hourly rate
|
|
Hourly Rate
|
|
|
|
Annual Salary:
|
|
|
Hours/Week
|
|
|
Hours per Week:
|
|
|
Full Time %
|
|
Full Time =
|
|
|
hrs/wk
|
|
|
Hourly Rate (enter this and the hours per week on the left ):
|
|
|
ANNUAL WAGES & TAXABLE BENEFITS
|
|
|
Paid Time Off
|
|
|
|
|
|
Paid Breaks
|
|
|
|
hrs/week
|
|
|
Annual hrs
|
Percent
|
|
Paid Downtime
|
|
|
|
hrs/week
|
|
|
Paid Time Off:
|
|
|
|
Vacation
|
|
|
|
days/year
|
|
|
Non-Working Time:
|
|
|
|
Paid Holidays
|
|
|
|
days/year
|
|
|
Working Time:
|
|
|
|
Paid Sick, Personal or Other Time
|
|
|
|
days/year
|
|
|
Total Annual Hours:
|
|
|
|
|
|
|
|
|
Paid Non-Working Time
|
|
|
|
|
|
|
Paid Training
|
|
|
|
days/year
|
|
|
|
Cost of Paid Time Off:
|
|
|
Paid 'on-call' or travel time
|
|
|
|
hrs/week
|
|
|
|
Cost of Non-Working Time:
|
|
|
Other
|
|
|
|
hrs/week
|
|
|
|
Cost of Working Time:
|
|
|
|
|
|
|
|
|
|
Other Included in Wages
|
|
|
|
|
|
|
|
Bonuses & Commissions
|
|
|
|
annual cost
|
|
|
|
Bonuses in Addition to Regular Pay:
|
|
|
Other
|
|
|
|
annual cost
|
|
|
|
Other Benefits Included in Wages:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL ANNUAL WAGES:
|
|
|
OPTIONAL BENEFITS IN ADDITION TO WAGES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Monthly Cost
|
|
|
Monthly Premium
|
|
|
|
|
|
|
|
|
Company Contribution (in dollars)
|
|
|
|
|
|
|
|
MA Insurance Partnership Subsidy (in dollars)
|
|
|
|
|
Annual Company Cost:
|
|
|
Employee Contribution(pretax dollars)
|
|
|
|
|
|
Annual Employee Pretax Amount:
|
|
|
|
|
|
Monthly Cost
|
|
|
Monthly Premium
|
|
|
|
|
|
|
Company Contribution (in dollars)
|
|
|
|
|
|
|
Annual Company Cost:
|
|
|
Employee Contribution (pretax dollars)
|
|
|
|
|
|
Annual Employee Pretax Amount:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ amount -OR- % of wages
|
|
|
|
|
Employee Contribution
|
|
|
|
|
|
|
|
Company Contribution
|
-OR-
|
|
|
|
|
|
|
|
Annual Company Cost:
|
|
|
Company Match (% of employee contribution)
|
|
|
|
|
|
Annual Employee Pretax Amount:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Non-Taxable Benefits (not included in wages)
|
Annual Cost
|
|
Benefits or expenses directly attributed to this employee which are not included in their wages, such as nontaxable childcare or tuition reimbursement, or de minimus or nontaxable fringe benefits such as parking or commuter passes, use of company cell phone, etc.
|
|
Childcare
|
|
|
|
|
|
Tuition Reimbursement
|
|
|
|
|
|
Commuter Passes
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Company Cost for Other Non-Taxable Benefits:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL OPTIONAL BENEFITS IN ADDITION TO WAGES:
|
|
|
REQUIRED BENEFITS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Wage Bases
|
|
Wages this item applies to
|
Cost
|
|
|
|
These 4 lines use wages AFTER pretax deductions (up to the wage base) to calculate cost.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
These 4 lines use total wages BEFORE pretax deductions (up to the wage base) to calculate cost.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL REQUIRED BENEFITS:
|
|
|
REQUIRED BENEFITS
|
INDIRECT EXPENSES
|
|
|
|
|
|
|
|
|
|
|
Expense Name/Description
|
|
Annual Cost
|
|
Indirect or overhead expenses which a company typically pays on behalf of their employees, but a subcontractor usually provides themselves. They might include office space, furniture, supplies, software, computers or tools, etc.
|
|
Office Space
|
|
|
|
|
|
Supplies
|
|
|
|
|
|
Tools & Equipment
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL INDIRECT EXPENSES:
|
|
|
|
|
|
|
|
|
|
REQUIRED BENEFITS
|
SUMMARY
|
|
|
|
|
|
|
|
|
|
|
ANNUAL WAGES FOR WORK:
|
|
|
|
|
|
TOTAL ANNUAL WAGES:
|
|
|
Optional Benefits
|
|
|
|
|
|
|
|
Paid Time Off
|
|
|
|
|
|
|
TOTAL ANNUAL COST:
|
|
|
Health & Dental Insurance
|
|
|
|
|
|
|
|
|
Retirement
|
|
|
|
|
|
|
Hourly Rate (from Above):
|
|
|
Other Benefits
|
|
|
|
|
|
|
|
|
|
|
TOTAL Optional Benefits:
|
|
|
|
|
|
|
|
Required Benefits
|
|
|
|
|
|
Fringe Benefits Cost:
|
|
|
|
|
|
|
|
|
|
Fringe Benefits (% of Wages for Work):
|
|
|
|
|
|
|
|
|
Hourly Cost with Benefits Included:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Expenses:
|
|
|
|
|
|
|
|
|
|
Other Expense (% of Wages for Work):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Wage Multiplier with All Costs:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL Required Benefits:
|
|
|
|
|
|
|
REAL HOURLY COST FOR THIS EMPLOYEE:
|
|
|
Other Expenses
|
|
|
|
|
|
|
Paid Non-Working Time
|
|
|
|
|
|
|
|
|
Other Included in Wages
|
|
|
|
|
|
|
|
|
|
Indirect Expenses
|
|
|
|
|
|
|
|
|
|
TOTAL Other Expenses:
|
|
|
|
|
|
|
|