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Posted: 3/18/2013 7:18:47 AM EDT
[#1]
yep and I tell him every December that I am worth every penny.
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Posted: 3/18/2013 7:22:48 AM EDT
[#2]
i am the "employer" so yes i know exactly how much each person cost me, for both of my companies. and this is not an easily calculated number. you also have to factor in their rate of work, quality, wasted time, wasted materials, efficiency etc..
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Posted: 3/18/2013 7:24:33 AM EDT
[#3]
We use 1.6X an employees salary.
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Posted: 3/18/2013 7:25:42 AM EDT
[#4]
I just sat down with the VP to discuss that very thing recently. It really is staggering how much it costs to run a business of any size.
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Posted: 3/18/2013 7:25:55 AM EDT
[#5]
Quoted:
We use 1.6X an employees salary. Pretty much what I was taught in biz school. 99% of employees either don't know this, can't comprehend it, or deny it is true. |
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Posted: 3/18/2013 7:27:23 AM EDT
[#6]
Quoted: In addition to your wages, do you know how much you cost your employer to keep you on the payroll? My total cost per hour to my employer is roughly $25 per hour over what my wages are. This includes all my benefits, workman's comp, etc... My old company laid it out on a statement. All the taxes, contributions to different insurances, etc. Added about $30k on top of my salary for them. |
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Posted: 3/18/2013 7:27:49 AM EDT
[#7]
I am roughly 90% overhead...I cost a lot.
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Posted: 3/18/2013 7:29:03 AM EDT
[#8]
Quoted:
In addition to your wages, do you know how much you cost your employer to keep you on the payroll? My total cost per hour to my employer is roughly $25 per hour over what my wages are. This includes all my benefits, workman's comp, etc... So if it weren't for .gov mandates and taxes that is how much you'd make over your current pay. Try to wrap your head around how productive the nation would be if we didn't waste money on feeding the gaping maw of government programs. |
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Posted: 3/18/2013 7:31:06 AM EDT
[#9]
The company I used to work for gave us an annual report showing our total cost, benis, taxes, comp insurance, etc it was somewhere around 2.5-3 times my wage, it cost me way less with better coverages and retirement than working for the gov here. I shoulda petitioned the wife harder to stay.
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Posted: 3/18/2013 7:33:19 AM EDT
[#10]
Quoted:
I am roughly 90% overhead...I cost a lot.   
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Posted: 3/18/2013 7:37:02 AM EDT
[#11]
They lied about the job, I lied to get the job. We're even.
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Posted: 3/18/2013 7:38:59 AM EDT
[#12]
If you don't know, and you have decent benefits, a good guess is that your wage is 60% of total compensation including the various taxes they pay on your wage before they even cut you a paycheck.
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Posted: 3/18/2013 7:39:41 AM EDT
[#13]
I know.
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Posted: 3/18/2013 7:40:00 AM EDT
[#14]
If you're just looking at my "cost", I'm probably 50% on top of salary.
If you're looking at my productivity and the cash flow that comes from my work, I make them millions. |
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Posted: 3/18/2013 7:41:15 AM EDT
[#15]
IT. High cost, low value. Worth every cent.
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Posted: 3/18/2013 7:41:25 AM EDT
[#16]
Quoted:
Quoted:
We use 1.6X an employees salary. Pretty much what I was taught in biz school. 99% of employees either don't know this, can't comprehend it, or deny it is true. The construction company I used to work for used a factor of 2.0, apparently laborers can fuck shit up at an alarming rate. If you don't mind, what industries are you 2 involved in? |
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Posted: 3/18/2013 7:45:52 AM EDT
[#17]
Quoted: i am the "employer" so yes i know exactly how much each person cost me, for both of my companies. and this is not an easily calculated number. you also have to factor in their rate of work, quality, wasted time, wasted materials, efficiency etc.. same here. I try to explain this to employees and only a few of them "get it". |
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Posted: 3/18/2013 7:48:08 AM EDT
[#18]
Quoted:
IT. High cost, low value. Worth every cent. This. Plus, being a contractor in Afghanistan I'm sure my company is billing the .gov for a lot more than they are paying me. |
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Posted: 3/18/2013 7:48:25 AM EDT
[#19]
I AM my employer.
And I'm worth every penny. 
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Posted: 3/18/2013 7:48:50 AM EDT
[#20]
Quoted:
They lied about the job, I lied to get the job. We're even. Good answer! 
They love to throw numbers out there, but the fact is, I am like a utility infielder. My boss relies on me to be versatile and dependable and take up a lot of other people's slack. I am worth more than I get paid, he will tell you that. Problem is, he is constrained by a pay scale that I am maxed out in. I could look for a better paying job, but I like what I do and I get a bump in benefits in June when I go over 5 years and the economy sucks anyway. |
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Posted: 3/18/2013 7:53:58 AM EDT
[#21]
Quoted:
Quoted:
They lied about the job, I lied to get the job. We're even. Good answer!
They love to throw numbers out there, but the fact is, I am like a utility infielder. My boss relies on me to be versatile and dependable and take up a lot of other people's slack. I am worth more than I get paid, he will tell you that. Problem is, he is constrained by a pay scale that I am maxed out in. I could look for a better paying job, but I like what I do and I get a bump in benefits in June when I go over 5 years and the economy sucks anyway. I've heard around $80k on top of salary. Not sure for real. |
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Posted: 3/18/2013 7:54:09 AM EDT
[#22]
Mine claims upwards of $200/hr
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Posted: 3/18/2013 7:54:43 AM EDT
[#23]
Quoted:
Quoted:
Quoted:
We use 1.6X an employees salary. Pretty much what I was taught in biz school. 99% of employees either don't know this, can't comprehend it, or deny it is true. The construction company I used to work for used a factor of 2.0, apparently laborers can fuck shit up at an alarming rate. If you don't mind, what industries are you 2 involved in? Metals manufacturing. The entire company is non-union. |
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Posted: 3/18/2013 7:55:56 AM EDT
[#24]
Yes, as a manager my budget includes the cost of me and all that comes with me. Including the extra cost for me being extra super awesome.
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Posted: 3/18/2013 7:56:51 AM EDT
[#25]
Other thank what it costs to print my paycheck, nothing.
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Posted: 3/18/2013 7:57:20 AM EDT
[#26]
Yeah, but how much do I make my employer? Shitloads of money. Boss is in the top 1% and got there on my back with the benefit of my hard work. Not fair. He should pay me more.
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Posted: 3/18/2013 7:58:19 AM EDT
[#27]
Quoted:
We use 1.6X an employees salary. This. .3 for taxes, .3 for service truck and benefits. Realistically I think it might be close to .3 and .2 for a total of .5 for misc. but I like to err on the side of caution. We keep weekly reports on how much they bill out versus their wage and also ytd totals. Anyone that can't cover their wages gets the ax. edit - I don't know how our company survived 15 years without keeping these reports. In the last year since we started them we found out that almost every single employee that asked for a raise really deserved to be fired. All the rest got paid at the upper end of the payscale and were worth it. |
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Posted: 3/18/2013 7:59:40 AM EDT
[#28]
Quoted:
So if it weren't for .gov mandates and taxes that is how much you'd make over your current pay. . There is no guarantee of that. Its more likely the business owner would keep that money for himself |
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Posted: 3/18/2013 8:04:15 AM EDT
[#29]
We figured my crew's "loaded rate" (costs including insurances, taxes, vehicle, accounting, etc.) at $125 per hour per man.
Big money out, but big money came back in, too. |
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Posted: 3/18/2013 8:08:16 AM EDT
[#30]
Quoted:
Quoted:
So if it weren't for .gov mandates and taxes that is how much you'd make over your current pay. . There is no guarantee of that. Its more likely the business owner would keep that money for himself Not likely unless he has a monopoly. Competition would put upward pressure on wages in the long run. But supposing he did keep the money for himself, where would it go? Under his mattress? No. It would go into a bank, where it would be lent out to others who, in turn, would use the money to expand their businesses by hiring more workers or investing in more capital. |
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Posted: 3/18/2013 8:09:39 AM EDT
[#31]
Quoted:
Not likely unless he has a monopoly. Competition would put upward pressure on wages in the long run. Sorry, I don't agree. |
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Posted: 3/18/2013 8:09:51 AM EDT
[#32]
Quoted:
Quoted:
So if it weren't for .gov mandates and taxes that is how much you'd make over your current pay. . There is no guarantee of that. Its more likely the business owner would keep that money for himself It's a false dillemma (spelling?) anyway. If there were no taxes we would have no roads, public service, bridges, et cetera. People expect all this shit for free but without slavery it's not possible. Not saying the gov. isn't bloated but taxes are a necessary evil and I have no problem paying them within reason. |
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Posted: 3/18/2013 8:10:51 AM EDT
[#33]
Quoted:
Quoted:
Not likely unless he has a monopoly. Competition would put upward pressure on wages in the long run. Sorry, I don't agree. You don't have to agree. |
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Posted: 3/18/2013 8:11:37 AM EDT
[#34]
if you get no benefits you cost your employer about 26% more than you are paid. worker comp,unemployment state and federal, fica/ss/med match...........total bull crap.
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Posted: 3/18/2013 8:12:37 AM EDT
[#35]
Quoted:
Quoted:
So if it weren't for .gov mandates and taxes that is how much you'd make over your current pay. . There is no guarantee of that. Its more likely the business owner would keep that money for himself Actually there are pretty solid economic studies that show that the "employer's share" of payroll taxes (the part that is statutorily assigned to be paid by the employer) are effectively taken out of the employees' compensation. So the inverse is that if they disappeared, that money would go back to employees. But that doesn't comport with your populist view of the universe, and I'm on your ignore list, so I'm sure this will fall on deaf ears as usual. |
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Posted: 3/18/2013 8:15:01 AM EDT
[#36]
Quoted:
Other thank what it costs to print my paycheck, nothing. So your employer doesn't pay any SS or workman's comp insurance on you? I highly doubt that. |
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Posted: 3/18/2013 8:15:18 AM EDT
[#37]
Quoted:
Quoted:
Quoted:
So if it weren't for .gov mandates and taxes that is how much you'd make over your current pay. . There is no guarantee of that. Its more likely the business owner would keep that money for himself Actually there are pretty solid economic studies that show that the "employer's share" of payroll taxes (the part that is statutorily assigned to be paid by the employer) are effectively taken out of the employees' compensation. So the inverse is that if they disappeared, that money would go back to employees. But that doesn't comport with your populist view of the universe, and I'm on your ignore list, so I'm sure this will fall on deaf ears as usual. QFT. Milton Friedman, Thomas Sowell, F.A. Hayek, Murray Rothbard, all seem to have shared this view. I think they just might know what they were talking about in this regard. |
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Posted: 3/18/2013 8:19:58 AM EDT
[#38]
Quoted:
Quoted:
Quoted:
So if it weren't for .gov mandates and taxes that is how much you'd make over your current pay. . There is no guarantee of that. Its more likely the business owner would keep that money for himself It's a false dillemma (spelling?) anyway. If there were no taxes we would have no roads, public service, bridges, et cetera. People expect all this shit for free but without slavery it's not possible. Not saying the gov. isn't bloated but taxes are a necessary evil and I have no problem paying them within reason. Are you fucking kidding me? Do you realize that in the first half of the 19th century in the U.S., there were more than 10,000 miles of private roads constructed without income taxes? Did you know that on a per capita GDP basis this exceeds even the Eisenhower interstate system? There are still numerous private roads today. |
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Posted: 3/18/2013 8:20:18 AM EDT
[#39]
Quoted: Quoted: They lied about the job, I lied to get the job. We're even. Good answer! They love to throw numbers out there, but the fact is, I am like a utility infielder. My boss relies on me to be versatile and dependable and take up a lot of other people's slack. I am worth more than I get paid, he will tell you that. Problem is, he is constrained by a pay scale that I am maxed out in. I could look for a better paying job, but I like what I do and I get a bump in benefits in June when I go over 5 years and the economy sucks anyway. And that's worth a lot. |
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Posted: 3/18/2013 8:20:55 AM EDT
[#40]
I always used a salary multiplier of 1.6 when forecasting budgets. It used to run pretty close for a long time. Then the healthcare premiums kinda fucked that all up. |
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Posted: 3/18/2013 8:23:51 AM EDT
[#41]
Don't really care what I cost them, I have better things to worry about. If at anytime they are unhappy with my work they can just give me the ol' heave ho. Holding a job does impose inconveniences on the employee as well. Do I expect that they have any concerns about that? Nope. I do think some of those costs should be lifted from the employers, but I doubt current employees would see any gain from it.
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Posted: 3/18/2013 8:25:55 AM EDT
[#42]
Quoted:
Quoted:
Quoted:
Quoted:
So if it weren't for .gov mandates and taxes that is how much you'd make over your current pay. . There is no guarantee of that. Its more likely the business owner would keep that money for himself It's a false dillemma (spelling?) anyway. If there were no taxes we would have no roads, public service, bridges, et cetera. People expect all this shit for free but without slavery it's not possible. Not saying the gov. isn't bloated but taxes are a necessary evil and I have no problem paying them within reason. Are you fucking kidding me? Do you realize that in the first half of the 19th century in the U.S., there were more than 10,000 miles of private roads constructed without income taxes? Did you know that on a per capita GDP basis this exceeds even the Eisenhower interstate system? There are still numerous private roads today. They have to be paid for somehow, be it by toll, income tax, property tax, city resale tax, gasoline use tax, what ever you want to call it, it has to be paid for. If i'm missing how we get these roads and public services for free then enlighten me, i'm always up to learn something new if i'm wrong. I still think our tax rate is too high but with my deductions and writeoffs I don't pay that much so I feel like mine is pretty fair. |
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Posted: 3/18/2013 8:29:54 AM EDT
[#43]
1.5 to 2 x what we're paid hourly in the skilled trades game . Of course that varies wildly depending on the industry and project ....but roughly almost twice what we're paid .
At least that's what Ive been told by different folks , too many times for it to be a load of shit  ETA.......Im sure with the new insurance rules that it's probably changed for the worse  |
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Posted: 3/18/2013 8:31:29 AM EDT
[#44]
Quoted:
Don't really care what I cost them, I have better things to worry about. If at anytime they are unhappy with my work they can just give me the ol' heave ho. Holding a job does impose inconveniences on the employee as well. Do I expect that they have any concerns about that? Nope. I do think some of those costs should be lifted from the employers, but I doubt current employees would see any gain from it. Maybe I can explain this for those of you who can't seem to understand. Let's say that an employee paid $10 an hour costs the employer around $13. The government, by some miracle, decides to lift these additional employment costs and now the employee truly only costs $10. What will happen? Yes, it's true that some employers will use the $3 savings solely to increase his profits. But then some enterprising entrepreneur decides he can outdo his competitors by putting $1 of the $3 back into wages. By attracting a greater share of potential workers away from his competitors, he is now able to select the finest workers and become more productive. Then another entrepreneur gets a similar idea, and decides he will pay $12/hour to his workers, and he attracts the ablest and most skilled workers away from his competition, so on and so forth... The employers don't raise wages because they WANT to - wages rise because employers are engaged in a bidding war for labor, the best of which will ultimately improve their profits in the long run. |
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Posted: 3/18/2013 8:32:14 AM EDT
[#45]
With the productivity they get out of me, they get their money's worth.
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Posted: 3/18/2013 8:37:54 AM EDT
[#46]
I've been told by management that with all benefits + the 3% they give up towards a 401k that we could almost double our hourly pay and thats about what each employee cost the company. It cost them more for those of us that contribute 6% towards the 401k since they match up to 6% also.
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Posted: 3/18/2013 8:38:15 AM EDT
[#47]
Quoted:
With the productivity they get out of me, they get their money's worth. I'm not saying you're not productive but one thing i'd like to point out is that a lot of employees i've shown the numbers too, said the same thing. Again, this really isn't to you, just everyone in general. I can't count how many times i've heard this during employee evaluations right before I fired them. When I showed them the numbers all they could really do was say i'm wrong. No reasons, i'm just wrong. I used to think I was underpaid when I was a service tech, because I was so productive. One time I crunched the numbers and they were hardly making anything off of me. Basically the markup off the parts I sold was the only profit there. As a manager now it's even worse. I don't directly generate any income. Even I have a hard time understanding why I have a job.
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Posted: 3/18/2013 8:38:57 AM EDT
[#48]
Quoted:
Quoted:
Quoted:
Quoted:
Quoted:
So if it weren't for .gov mandates and taxes that is how much you'd make over your current pay. . There is no guarantee of that. Its more likely the business owner would keep that money for himself It's a false dillemma (spelling?) anyway. If there were no taxes we would have no roads, public service, bridges, et cetera. People expect all this shit for free but without slavery it's not possible. Not saying the gov. isn't bloated but taxes are a necessary evil and I have no problem paying them within reason. Are you fucking kidding me? Do you realize that in the first half of the 19th century in the U.S., there were more than 10,000 miles of private roads constructed without income taxes? Did you know that on a per capita GDP basis this exceeds even the Eisenhower interstate system? There are still numerous private roads today. They have to be paid for somehow, be it by toll, income tax, property tax, city resale tax, gasoline use tax, what ever you want to call it, it has to be paid for. If i'm missing how we get these roads and public services for free then enlighten me, i'm always up to learn something new if i'm wrong. I still think our tax rate is too high but with my deductions and writeoffs I don't pay that much so I feel like mine is pretty fair. Built with money from private sources. Tolls pay for use. |
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Posted: 3/18/2013 8:41:20 AM EDT
[#49]
Quoted:
You don't have to agree. I understand that, but some people like yourself like to claim theres all this competition out there that'll float peoples wages, and if anything its an employers market that keeps wages depressed |
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Posted: 3/18/2013 8:42:28 AM EDT
[#50]
Quoted:
Are you fucking kidding me? Do you realize that in the first half of the 19th century in the U.S., there were more than 10,000 miles of private roads constructed without income taxes? Did you know that on a per capita GDP basis this exceeds even the Eisenhower interstate system? There are still numerous private roads today. Do You really want EVERY road to be a toll road? I don't. |
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