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I have an average salary of 63,000. Social security of 2.30%, group insurance: 1,221, fica: 2%....

I have an average salary of 63,000. Social security of 2.30%, group insurance: 1,221, fica: 2%.
How do I calculate my total compensation

Solutions

Expert Solution

Social security and FICA will be contributed by the employer in equal amount to your contribution , therefore they are also part of your total compensation.

With respect to group insurance, in some cases the employer will not contribute . Therefore for the present case we shall not consider as part of compensation.

Average salary = $63,000

Social security (2.3%) = $ 1,449

FICA (2%) = $ 1,260

Total Compensation = $65,709

Social security

ekkarill92 answered 1 year ago
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