United States

Last Update by Jennifer, 21 Feb 2025

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Exchange Rate

19 Apr 2025

 

Cost of Living

Indicative value for a working adult in a city: Los Angeles

Publicly available data (Numbeo, etc..), verified by Marco’s in-country staff

Living Requirement Indicative Amount (USD)
McDonalds Set Meal 12 USD
Monthly Train and Bus Tickets 83 USD
3 Bedrooms Rental (City Center) 4,642 USD
3 Bedrooms Rental (Outskirt) 3,698 USD

Current Inflation Rate

3.4%

Wage

Minimum Wages

  • Federal minimum wage for covered non-exempt staff: 7.25 USD per hour, The state minimum wage rate will vary

Median Salary

Estimated based on general positions such as HR, Accounting, Admin roles, in tier one cities.

Job Level Monthly Salary (USD)
Entry-Level
Fresh Graduate
2,960 USD
Mid-Level
5 Years
5,800 USD
Experienced & Managerial Level
10 Years
7,800 USD
Specialized & Senior-Level
15 Years
9,800 USD

Annual Salary Growth

4%

Statutory Contribution

Social security (OASDI), Medical insurance (Medicare) are paid to the Internal Revenue Service on a semi-weekly (annual reported payroll tax> USD 50,000) or monthly (annual reported payroll tax <= 50,000) basis. The Unemployment Tax (FUTA) should be deposited quarterly

Country Level

Type Employer Rates Employee Rates Notes
Social security (OASDI) 6.2%
Annual salary ceiling 176,100 USD
6.2%
Annual salary ceiling 176,100 USD
All staff
Medical insurance (Medicare) 1.45% 1.45%
+ 0.9% from salary exceeding 200,000 USD per year
All staff
Federal Unemployment Tax (FUTA) 0.6%
On the first 7,000 USD of income
- All staff

State/Province Level

Connecticut

Type Employer Rates Employee Rates Notes
State Unemployment Insurance (SUI) Range 1.5% to 6.2%.
applicable to the taxable wage base 26,100 USD
All Staff
New employer rate is 2.2%.
PFML 0.5% All Staff
Workers' Compensation Insurance Average cost 1200 USD per staff member All Staff

Other Benefit

Other common employment benefits in United States include:

  • Employer usually provide additional health insurance under Health Maintenance Organization (HMO, lower flexibility, can choose limited doctors, lower cost), and Preferred Provider Organization (PPO, more flexible to choose doctors, higher cost) model:
    - Health Insurance: USD 3,000 -8,000 per employee per year, USD 10,000 - 20,000 per family per year
    - Dental insurance: depends on age and job title, about USD 366 per year
    - Vision insurance: depends on age and job title, about USD 120 per year
    - Group life insurance depends on age and job title, about USD 300 per year
    - Disability Insurance: can have short term or long term, the contribution rate is about 1-3% per year
  • Employers usually provide Health Saving Account (HSA) or Health Reimbursement Arrangement (HRA) to compensate additional medical insurance for the employees.
  • 401k: Employers usually contribute 4-6% based on monthly gross salary as pension fund, the contribution capping is USD 23,500 per year

Income Tax

Residents

  • Below is the tax rate for single filers

Country Level

Taxable Income Rate
0 -11,925 USD 10%
11,926 - 48,475 USD 12%
48,476-103,350 USD 22%
103,351 to 197,300 USD 24%
197,301 to 250,525 USD 32%
250,525 to 626,350 USD 35%
626,350 USD and over 37%

State/Province Level

Illinois

Taxable Income Rate
Based on marital status, number of pay periods per year, and other factors. 4.95% flat rate

Working Hours

Statutory

40 Hours
8 hours a day, 5 days a week

Typical practice

40 Hours
Monday - Friday

Overtime

Nonexempt employees who work more than 40 hours per week should be entitled to overtime payment. Different States may have different overtime rules

  • At least 1.5 times the normal hourly rate

Employment Contract

Fixed-Term

Used to cover absent staff, fill a human resources gap, or large projects

Contract Format

Written In English. Bilingual contracts are accepted but English must be one of the languages. Two copies are made and provided to each party

Payroll Currency

USD

Probation

No Minimum Duration-common practice 60-90 days

Termination

No formal procedure required

  Voluntary Resignation Involuntary Termination Economic Layoff
Notice Period - Probation In the United States no formal procedure required -common practice is to give employer 2 weeks' notice In the United States no formal procedure required, may be terminated any time unless contract states otherwise In the United States no formal procedure required-common practice is to notify staff about layoff and the last day worked
Notice Period - Regular In the United States no formal procedure required-common practice is to give employer 2 weeks' notice In the United States no formal procedure required- may be terminated any time unless contract states otherwise In the United States no formal procedure required-common practice is to notify staff about layoff and the last day worked
Severance Pay No requirement to provide severance unless specified in contract No requirement to provide severance unless specified in contract No requirement to provide severance unless specified in contract or staff falls under the WARN act

Public Holiday

Holidays falling on a Saturday, are observed on a Friday, holidays falling on a Sunday, are observed on Mondays

Country Level

Date Name
01 Jan New Year's Day
20 Jan Martin Luther King Jr. Day
17 Feb Presidents Day
26 May Memorial Day
19 Jun Juneteenth
04 Jul Independence Day
01 Sep Labor Day
13 Oct Columbus Day
11 Nov Veterans Day
27 Nov Thanksgiving Day

State/Province Level

Texas

Date Name
19 Jan Confederate Heroes' Day
02 Mar Texas Independence Day
21 Apr San Jacinto Day
19 Jun Emancipation Day
27 Aug Lyndon Baines Johnson Day
28 Nov Day After Thanksgiving

Leave

Leave Type Entitlement Notes
Paid Sick Leave (PSL) 5 working days per year (Depends on the State requirement) All private staff, no federal law governing sick leave, multiple states require employers to provide sick leave
Family and Medical Leave Act (FMLA) Up to 12 weeks All private staff
Federal Employees Parental Leave Act (FEPLA) Up to 12 weeks All federal staff
Uniformed Services Employment and Reemployment Rights Act (USERRA) Up to 12 weeks All private and federal staff returning from military service or training
Jury Duty Leave Unlimited All staff

Reference

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