Courtesy of the BLS, here's how much it costs to employ various types of workers:
You can find more breakdowns here.
11 thoughts on “Raw data: How much it costs to employ you”
Comments are closed.
Cats, charts, and politics
Cats, charts, and politics
Courtesy of the BLS, here's how much it costs to employ various types of workers:
You can find more breakdowns here.
Comments are closed.
This isn't really useful information without being broken down by tenure or level of employee.
It also looks like executive positions must be grouped with "Managers", making that category overly broad and therefore basically useless.
TBH, a better point of data is simply knowing what is the fringe rate - which varies by location and industry.
Strictly speaking, this is how much your employer compensates you. How much it costs to employ you is a completely different kettle of fish and consists of real estate and support and a thousand other little charges that anyone who has budget authority (like Kevin in a past life) needs to worry about.
This, of course, is at front of mind in 2023
Interesting as a very high-level number, but the variance is huge.
I'm in an outlier industry (fintech), but the entry-level kids just out of school I hire cost more than 2x the 'manager' figure.
That union premium! Superb. Does my heart good to see it. We need to try and get more and better unions.
Fire all the managers. Let people self-manage. Isn't that where we're headed with the gig economy anyway?
/S
Management is what the current level of AI would be good at.
If you want to be managed by a paperclip-maximizer, you already have the option of working in Amazon warehouses.
Let me know how you like it.
Whoa, Teachers!?! We always hear about how underpaid teachers are, but if this is true, it looks like that really is not the case at all. Like the military, they may see less of their compensation in the form of direct wages and more in benefits, but wow, they are not cheap...
Another reminder of how underpaid I am.
Being persnickety, but for profitable businesses it doesn’t cost anything to employ. A function of an employee’s labor is it generates more revenue for the employer than it costs.
My wife (formerly a full professor at Carnegie Mellon University) works with special needs kids at the best high school here in Tucson, AZ. She makes $150/day gross. Zero benefits.