Salary information only, Do not have fully-loaded payroll

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Mbishop

• December 07, 2020 20:53

Hi,

New to IMPLAN and I am trying to run a model that will give me the impact of X number of employees being added to an industry with a Cumulative Annual Payroll of YY. I do not have the benefits, only the salary. How do I run an Employment Compensation Impact model without the benefits and taxes? Or is there a way to figure out the benefits and taxes based on the salary provided?

Thank you,

Alyson 

 

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• Official comment

  

  Candi Clouse

  • December 07, 2020 22:03

  Hello Alyson!

  You are spot on that you need to analyze a fully-loaded payroll number in IMPLAN. We have a very easy method for converting your Wage & Salary data to a full-loaded Employee Compensation value that is ready for analysis. The article IMPLAN to FTE & Income Conversions has a spreadsheet to download that will convert Wage & Salary to Employee Compensation as well as full-time equivalent (FTE) jobs to Employment.

  Please let us know if there is anything else we can help you with!

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