Money
Fully loaded cost
The true cost of employing someone: salary plus employer's National Insurance, pension, benefits, equipment, office space and overheads. Often 1.3 to 1.5 times the salary.
A plain-English explanation, not financial or tax advice. Rules and rates change, so check your own situation. For free, impartial guidance, try MoneyHelper. Disclaimer.
You'll hear it as
A £60k engineer has a fully loaded cost nearer £85k.
Why it matters to you.
When finance compares you with a contractor or a tool, this is the number they use.
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