//-->
BOOKKEEPING

Comparing Labor Costs in Norway and New York

The cost of having an employee on the payroll in socialist Norway is not as bad as you may think.

Getty

Advertisement

The high value of the kroner makes Norway very expensive for foreigners. (A beer in Oslo can cost $15.) But employing people, especially skilled workers, is surprisingly inexpensive. Here's what one Norwegian tech company, Oslo-based bMenu, pays each year to employ software developers in Norway and the United States.

  Oslo New York City
Salary $100,000 $100,000
Payroll taxes National insurance contribution, 14.1% of total salary* $14,100 Social Security (6.2% of first $106,800) $6,200  
Medicare, 1.45% of salary $1,450  
Federal unemployment   $56  
State unemployment $349  
City transit tax $340
Retirement plan Supplemental retirement plan $2,100 401(k), 6% match $6,000
Private insurance Accident and travel insurance     $403 Workers' compensation $503
Disability $56  
Health insurance, 80% employer contribution $7,536 (single) $23,360 (family)  
Total salary $116,603 $122,490 (single) $138,314 (family)
Cost of benefits 16.6%
22.5% (single) 38.3% (family)
Last updated: Jan 20, 2011




Register on Inc.com today to get full access to:
All articles  |  Magazine archives | Livestream events | Comments
EMAIL
PASSWORD
EMAIL
FIRST NAME
LAST NAME
EMAIL
PASSWORD

Or sign up using: