SMB Tools / True cost of hiring
What a hire really costs you
A salary is only the start. Add payroll taxes, benefits, workers' comp, and overhead to see the fully loaded cost - and what it works out to per hour.
Pay
Annual base salary
$
Base pay (annual)$50,000
Taxes and benefits
Employer payroll taxes
%
Health insurance (employer share, per year)
$
Retirement match
%
Workers' comp
%
Overhead and onboarding
Overhead per employee (per year)
$
One-time hiring cost
$
Fully loaded annual cost
$68,750
1.38x base pay · about $33.05 per hour worked
- Over base pay
- +$18,750
- Monthly cost
- $5,729
- First-year (with hiring)
- $72,750
Base pay$50,000
Payroll taxes$4,250
Health insurance$7,500
Retirement match$1,500
Workers’ comp$500
Overhead$5,000
Fully loaded$68,750
An estimate from the rates you entered. Real costs vary by state, plan, and workers’ comp class - confirm with your payroll provider or accountant before budgeting.