True Cost of Hiring Calculator
Estimate the fully loaded cost of a Finance & Banking hire — including $0.40/$100 workers’ comp, a $55,000–$250,000 salary range, $800/mo benefits, and a 1.38× burden multiplier.
Open the CalculatorPre-configured with your state tax rates and Finance & Banking benchmarks. Adjust salary, benefits, and overhead to model your specific hire.
Total Annual Cost
$121,945
Loaded multiplier: 1.28× base salary
Open the interactive calculator to adjust every input and export a PDF report.
Representative Finance & Banking salary, benefits, and workers’ comp figures for 2026.
Each figure is classified and cited below. Published benchmarks come from BLS and SHRM; representative estimates vary by employer; and TrueHireCost modeling assumptions are editable defaults.
| Metric | Value | Type | Source | Last verified |
|---|---|---|---|---|
| Median salary | $95,000 | Published benchmark | BLS Occupational Employment & Wage Statistics | Aug 2026 |
| Salary range | $55,000 – $250,000 | Representative estimate | BLS Occupational Employment & Wage Statistics | Aug 2026 |
| Workers’ comp rate | 0.4 / $100 payroll | Representative estimate | DOL Office of Workers’ Compensation Programs | Aug 2026 |
| Monthly benefits | $800 | Representative estimate | BLS Employer Costs for Employee Compensation (ECEC) | Aug 2026 |
| 401(k) employer match | 5% | TrueHireCost modeling assumption | TrueHireCost methodology | Aug 2026 |
| Annual overhead | $4,500 | TrueHireCost modeling assumption | TrueHireCost methodology | Aug 2026 |
| Annual turnover rate | 14.8% | Published benchmark | BLS Job Openings & Labor Turnover Survey (JOLTS) | Aug 2026 |
| Time to fill | 38 days | Published benchmark | SHRM Human Capital Benchmarking & Talent Acquisition | Aug 2026 |
| Employment growth | 0.6% | Published benchmark | BLS Employment Projections | Aug 2026 |
| Loaded-cost multiplier | 1.38× | TrueHireCost modeling assumption | TrueHireCost methodology | Aug 2026 |
How to read this table
A Finance & Banking hire at the median $95,000 salary costs approximately $121,945 fully loaded — a 1.28× burden multiplier including $0.40/$100 workers’ comp, $800/mo benefits, and overhead.
Finance hiring is steady in compliance, risk, and fintech, offset by consolidation in traditional branch banking. Selective hiring of analysts, advisors, and compliance staff, with bonus-driven retention concentrated in financial centers.
Finance & Banking wages & turnover
Federal employer tax guide
Department of Labor compliance
Finance & Banking industry resource
Editorial Standards
Maintained by the TrueHireCost editorial team
TrueHireCost is an independent research and tooling project. Our content is written and maintained by the TrueHireCost editorial team — not by a licensed CPA, attorney, or HR certificant, and no named professional endorses or "verifies" these pages. Rates, wage bases, and benchmarks are collected from official public sources (IRS, U.S. Department of Labor, state workforce agencies, and the Bureau of Labor Statistics) and labeled with their source and last-reviewed date. State SUTA, workers’ comp, and minimum-wage figures are representative new-employer estimates and should be confirmed with the agency for your specific situation.
Found an outdated rate or a calculation that looks wrong? Email editorial@truehirecost.com and we’ll review and correct it. TrueHireCost is an informational tool, not professional tax, legal, or HR advice — consult a qualified professional before making hiring or payroll decisions.
Last updated 2026-08-24
Every rate and formula is checked against the issuing agency before publication. Last updated 2026-08-24.
IRS
FICA, FUTA tax rate & wage base
U.S. DOL
FUTA credit, federal wage & hour
State Workforce Agencies
SUTA rates, wage bases, new-employer rates
BLS
Industry salary benchmarks & turnover
The fully loaded cost of a Finance & Banking hire combines a typical $55,000–$250,000 salary with $0.40/$100 workers’ comp, $800/month benefits, a 5% 401(k) match, and overhead — yielding roughly a 1.38× burden multiplier.
Finance & Banking roles typically pay $55,000 to $250,000 per year, with a median around $95,000. Use the calculator’s salary input to model your specific role.
The representative Finance & Banking workers’ comp class rate is $0.40 per $100 of payroll. Equity/deferred comp complexity
For Estimation Purposes Only
TrueHireCost provides hiring cost estimates for informational purposes only and is not professional tax, legal, or HR advice. Actual employer costs vary by experience rating, industry classification, carrier, and jurisdiction. Consult a qualified CPA, tax advisor, or HR professional before making hiring or payroll decisions.