Help with employee wages

W

Walter

Member
Im bidding a job that requires a pay of 22.20 an hour. What percentage should I add to this to correctly figure the total employee hourly costs (SS, FICA, ETC, Unemployment).
 
I figure my wages at 1.16 times the base rate. That does give some leeway for cushion, but this rate has always worked for me. that means that a guy that costs $22.20 is really going to cost you $25.75.
 
You really should figure closer to 23-25%. You have FICA, FIT SIT SUI workers comp and liability insurance usually based on payroll. We just had a 100% increase in W/C so our percentage will be refigured on all jobs after 7/1.
Zippo
 
ok, the Fica at those wages will be max. your going to need to call worker comp and get there percentage. mine is 1.4% of payroll total.

I think Scotts is to low. I think the numbers would be right if we were talking a lower wage. I dont think its going to be 25%

Remember the clearical costs as well. it will take alot of time to keep track of these earnings. if you figure all the expenses it could easially take and additional 5% just to manage.


I'm sorry i could not help more but you will need to see what deductions you will need to take plus...
 
Hello Walter,

I always figure another 25% for cost of taxes and insurance.

We have some projects that our prevailing wage total cost is over $36 per man! My crew likes this work. :)

Dave Olson
 
WALTER... HERES MY BREAKDOWN. WC-6.82%,FICA-7.65%,SUI-1.10% FUTA -0.80%,ETT-0.10%. HOW YOU DOING WITH THAT NEW PRISON DEAL ?? DAN COSGROVE
 
Hey Dan

Thats what this is about. Figuring the cost for the prison. I will know monday evening if I will be doing it. I checked the state unimployment rate and Workers comp in WV. Unimployment is 2.7% and Comp is 3.88%. I can't beleive it. I will let you know.

P.S. I got the Stadium cleaning Job. Horay for me....
 
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