When thinking about hiring more for your immigration law firm it is always important to calculate the cost of each hire. This simple process should help you calculate those costs so you can plan out your budget and hire the right help you need.
First start by doing some research of the average salary for that role in your city and state. In order to do this you can use an array of websites as resources for estimating salaries. Some of these are:
It is beneficial to cross reference these sites to get the best estimate.
In addition to this you will want to consider other factors about who the ideal prospective hire will be:
- Are they local or remote? Hiring from other parts of the country/world could allow you to pay lower wages than your home state.
- What’s their level of experience? If you hire someone for an entry level position their salary will be lower than someone with years of experience.
Once you have your average yearly and monthly salary you’re going to want to put that number into a tax calculator to see what that total cost for you would be after taxes.
For this you can use a website like gusto.com
After you get your total cost after tax for that particular role and average salary you can divide it by 12 to see your monthly cost of having this new employee.
Do this with all the roles you are looking to fill in order to best calculate what your total cost would be to hire these people and compare how much money your firm is currently making. This exercise will help you figure out how many roles you can currently afford to fill in your firm.