When calculating the cost of labor, especialy individuals - we often had to
do this with engineers and scientists - we'd double their salary (with a
little fat for unforseen problems) - the reason was 2w vacation to start -
more with senority, 1-2w sick leave - 12-13 days holiday pay.
You up to 14d+5d+13d=32 days - of paid time per year that doesn;t produce
anything.
Avg work year is 2080 hours - above 32 days represent 256 hrs or a 12.3%
benefit.
Then there's taxes - Workmans Comp, Social Security - Unemployment Comp and
Medicare equal 38% of your salary/hourly rate.
so we're up to 50% already. (Depending on the work force (my company had a
lot of employees with long service and were getting 4-6 weeks of Vac and 2-3
weeks of sick leave yearl which is why we added another 50% for
contingencies.)
So there's roughly 50% of the benefits you receive - if you only get 5%
perhaps you're a contract employee who isn;t given vacation time, sick time
or paid holidays & you're more highly compensated in lieu of benefits? In
any case the employer pays the taxes above unless you're a private
contractor in which case you'd be paying those taxes -
Just think - if your employer wasn't paying 38% taxes to the govt for you
that would be money he could pay you!
Sincerely,
Larry T (74 911, 91 300D 2.5T)
www.youroil.net Oil Analysis Kits &
Porsche Posters/Weber parts
----- Original Message -----
From: <[EMAIL PROTECTED]>
To: "Mercedes Discussion List" <mercedes@okiebenz.com>
Sent: Thursday, October 16, 2008 4:02 PM
Subject: Re: [MBZ] OT: AIG party
Well, I get perks in my job that amount to about 5% of my salary. They
are part of my compensation package, take them away and I'm looking to
have you make it up with money.
Pete
-------------- Original message ----------------------
From: Mitch Haley <[EMAIL PROTECTED]>
[EMAIL PROTECTED] wrote:
> -------------- Original message ----------------------
> From: Mitch Haley <[EMAIL PROTECTED]>
>>
>> Last month, and just days after the U.S. government stepped in to save
>> AIG
with
>> a $85 billion taxpayer-funded loan, the company picked up a $440,000
>> tab for
a
>> week-long retreat at a posh California resort for top-performing
>> insurance
>> agents.
>> ------------------------
>
> Your thinking that the sales folks shouldn't be compensated?
No, I was just quoting a news item which explained that the much maligned
retreat was merely pre-arranged compensation for agents, when everybody
seems to
be claiming that it's an executive party.
OTOH, the more recent UK hunting trip does seem to be an executive perk.
I guess
running a company as large as AIG into the ground is hard work and they
deserve
a break. Besides, if they are shooting peasants, pheasants, or whatever
in
England, the AIG executives aren't sitting at their desks running our
company
into the ground.
Mitch.
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