$10k/month x 12 months/year. Isn't that $120k/year? How did you come up with $60k? This is a serious question, because I assume there's an unspoken assumption in your post.
That's the fully loaded cost of the employee, so the sum of salary, payroll taxes, health insurance, unemployment insurance, office rent, and whatever else I'm forgetting.
That's the fully loaded cost of the employee, so the sum of salary, payroll taxes, health insurance, unemployment insurance, office rent, and whatever else I'm forgetting.
Edit: also called the fully burdened cost