Payroll Realities

In addition to salary, most employers contribute social security, medicare, federal and state unemployment insurance, 401k match, workers' comp, health and disability insurance on behalf of the employee.

For example, take a look below at the additional contributions each employer makes each year on behalf of an employee that earns $50,000 salary:

Social Security (6.2% of first $106,800):
$3,100

Medicare (1.45% of salary):
$725

Federal and State Unemployment Insurance:
$420

401(k) - 6% Match:
$3,000

Workers' compensation and Disability Insurance:
$500

Health Insurance (80% Employer Contribution):
$7,500 (single) $23,000 (family)

Total Salary:
$62,145 (single) $77,645 (family)

% Above Salary:
24.3% (single) 55.3% (family)
**Please note above figures are estimates and may vary.