How to Calculate Salary
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The cost of an employee is more than their salary. Hiring an employee often involves paying a portion of their social security, Medicare and unemployment taxes. Many companies offer benefits in terms of various insurance programs where the company may contribute to retirement plans, pensions and other fringe benefits that add to the hiring cost. When calculating salary, it’s important to look at all of these costs rather than just the direct salary.

Use this calculator to determine the cost of a total employee compensation package.

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Article provided by Fintactix

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The calculations provided by this calculator are for educational purposes only and based entirely on the information you enter, including any savings rate or expected rate of return. Regions makes no representations as to the accuracy, completeness, timeliness, suitability, or validity of any information presented. Information provided should not be relied on or interpreted as accounting, financial planning, investment, legal, or tax advice. These calculations do not reflect the terms available for any Regions savings or other deposit accounts. Find out more about the Regions Small Business CashCOR process.