Human Resources News & Insights

Benefits, comp benchmarks: How do you compare?

Workers cost private employers an average of $27.88 per hour worked in total compensation. How much of that goes toward benefits?

$8.20 (or 29.4%), according to the latest data from the U.S. Bureau of Labor Statistics.

That means private-industry employees are paid an average wage of $19.68 per hour.

Are your pay figures in the same ballpark as these?

Supplemental pay, which includes overtime and bonuses, accounted for 78 cents of that $27.88 per-hour figure (or 2.8% of total compensation).

Benefits breakdown:

  • Benefits required by law — Social Security, Medicare, unemployment insurance, workers’ comp, etc. — cost employers $2.81 per hour (8.3% of total compensation).
  • Insurance plans cost employers $2.24 per hour (8% of total comp), and $2.10 of that goes toward health insurance. The other 14 cents are allocated toward life, short-term disability and long-term disability coverage.
  • Paid leave benefits — vacation time, holidays, sick days, personal leave, etc. — costs employers $1.88 per hour (6.7% of total comp).
  • Defined contribution/benefit plans cost employers 99 cents per hour (3.6% of total comp).

Info: For complete breakouts by occupational group, industry, region and employment status, click here.

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Comments

  1. Actually, over 40% of an employee’s total compensation is based around benefits. Employers often don’t add up other fees, like paid time off, vacation, sick days, holidays, free parking, and all the other perks of which companies also foot the bill.

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