For example: on a standard 30-year fixed-rate mortgage, the monthly payment on a $200,000 loan would be $955 for a 4% mortgage versus $1074 for a 5% mortgage. Thatâs a monthly difference of $119. You might think that low rates encourage people to buy homes, but itâs not quite that simple.
If your payroll expenditures fall within 15-30% of gross revenue, your business is in a safe zone. Businesses that live within this range tend to be most successful, at least from a payroll perspective.f your percentage falls above 30%, in the red zone, itâs time to come up with a new strategy immediately. Maintaining a payroll that falls above 30% of your gross revenue is one of the most common reasons for a business to fail. Identify it first and then we can fix it.
In all, the stateâs normal cost for retirement benefits is today about 11 percent of payroll. In the private sector, every employer must pay 6.2 percent of payroll into FICAâand on average, contribute an additional 4 to 5 percent of payroll to employee 401(k) or pension program.Total compensation is 6.8 percent lower for state employees and 7.4 percent less for local workers [and] the pay gap is wideningâ. The vast majority of participants in state-funded retirement systems do not receive Social Security.