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e-mail: cecilia@professional-business-services.com
Cost Comparison
Full-Time Employee vs. Independent Contractor (based on 2,080 hours) annually.
Actual Cost for Full-Time Employee Percentage vs. Independent Contractor
Base Salary $50/hr *
Full-time Employee: Independent Contractor (Virtual Assistant):
Base Salary: $50/hr $50/hr
Bonuses: $512
Social Security: $2,867
401K: $2,324
Disability: $600
Healthcare: $5,328
Pension: $1,574
Time off: $4,902
Total Employer Cost: $122,107 vs. Independent Contractor: $104,000
Cost Savings of: $18,107 Annually
Note: Additional savings realized by small business owners are: no overtime pay; no office equipment; no office space; no UI Insurance or administration costs.
*Hours determined by the business owner's needs.
Sources: www.salary.com and www.greythornsalaryindex.com websi