United States

Last Update by Katie, 29 May 2024

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Exchange Rate

13 Jun 2024

 

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 12.00
Monthly Train and Bus Tickets 72
3 Bedrooms Rental (City Center) 5,500
3 Bedrooms Rental (Outskirt) 4,450

Current Inflation Rate

3.4%

Wage

Minimum Wages

  • The federal minimum wage for covered nonexempt employees is $7.25 per hour.
    Many states also have minimum wage laws. In cases where an employee is subject to both the state and federal minimum wage laws, the employee is entitled to the higher of the two minimum wages.
    Tipped employees' wages vary but normally cannot be lower than the applicable minimum wage.
    An example of two states with higher minimum wage:
    California: 16.00 per hour. (20.00 per fast food restaurant employees)
    New York: 15.00 per hour.

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
Mid-Level
5 Years
5,800
Experienced & Managerial Level
10 Years
7,800
Specialized & Senior-Level
15 Years
9,800

Annual Salary Growth

4%

Statutory Contribution

Country Level

Type Employer Rates Employee Rates Notes
Social security (OASDI) 6.2%
Annual salary ceiling 168,600 USD
6.2%
Annual salary ceiling 168,600 USD
All staff
Medical insurance (Medicare) 1.45% 1.45%
+ 0.9% withheld from salary exceeding 200,000 USD/ year
All staff
Federal Unemployment Tax (FUTA) 0.6%
On the first 7,000 USD of income
- All staff
Workers' Compensation Insurance - All staff
Mandatory for all employers in all states except Texas

State/Province Level

California

Type Employer Rates Employee Rates Notes
State Unemployment Insurance (SUI) Range 1.5% to 6.2%.
up to salary of first 7,000 USD
- All Staff
New employer rate is 3.4%.
Disability Insurance (SDI)

- 1.1%
No taxable wage limit or maximum withholding
All Staff
Employment Training Tax 0.1%
Salary limit is 7,000 USD / employee
- All Staff

Other Benefit

Other common employment benefits in United States include:

  • Health Insurance: 7,188 USD for individuals, 20,576 for family / year
  • Dental Insurance Premium: Up to 366 USD / year
  • Vision Insurance Premiums Up to 120 USD / year

Income Tax

Residents

Country Level

Taxable Income Rate
0 -11,000 10%
11,001 - 44,725 12%
44,726 -95,375 22%
95,376-182,100 24%
182,101 to 231,250 32%
231,251 -578,125 35%
578,126 + 37%

State/Province Level

California

Taxable Income Rate
0 - 10,412 1%
10,413 -24,684 2%
24,684 -38,959
4%
38,959 -54,081 6%
54,081 -68,350 8%
68,350 -349,137 9.3%
349,137-418,961 10.3%
418,961-698,271 11.3%
698,271 + 12.3%

Non-residents

  • Flat rate: 30% on income exceeding 3,700 USD in 2024

Working Hours

Statutory

40 Hours
8 hours a day, 5 days a week

Typical practice

40 Hours
Monday - Friday

Overtime

Over 8 hours per day or 40 per week is considered overtime.

  • The FLSA does not require overtime pay for work on Saturdays, Sundays, holidays, or regular days of rest, unless overtime is worked on such days.
  • Regular Overtime & Federal Public holidays: Paid 1.5 times regular pay
  • Staff in California: Paid 2 times regular pay for more than 12 hours per day and on 7th consecutive work day within with no breaks in service.

Employment Contract

Fixed-Term

Defined by a start and end date, for a specific project or event.

Probation

Not a legal requirement, common practice 60-90 days.

Termination

Prior notice of layoff not required unless it falls under the WARN Act (Worker Adjustment and Retraining Notification Act of 1988) outlines requirements for employers who are performing large layoffs or office closures (referred to as plant closures) to notify staff and state government officials of these job losses at least 60 days in advance.

  • Severance:
    Staff dismissed before contract Expires are entitled to compensation for the remainder of their contract
    - 1-2 years: 1-2 weeks' pay per year of service
    - 3-5 years: 2-3 weeks' pay per year of service
    - 6-10 years: 3-4 weeks' pay per year of service
    - 11+ years: 4+ weeks' pay per year of service

Public Holiday

11 days
Holidays falling on a Saturday, are observed the day before (Friday). Holidays falling on a Sunday, are observed the next day (Monday).

Country Level

Date Name
01 Jan New Year's Day
15 Jan Martin Luther King, Jr. Day
19 Feb George Washington's Birthday
27 May Memorial Day
19 Jun Juneteenth
04 Jul Independence Day
02 Sep Labor Day
14 Oct Columbus Day
11 Nov Veterans Day
28 Nov Thanksgiving Day
25 Dec Christmas Day

State/Province Level

Texas

Date Name
19 Jan Confederate Heroes' Day
02 Mar Texas Independence Day
21 Apr San Jacinto Day
27 Aug Lyndon Baines Johnson Day

Leave

Leave Type Entitlement Notes
Paid Sick Leave (PSL) No federal law that governs sick leave, multiple states require employers to provide paid sick leave All private staff
Family and Medical Leave Act (FMLA) up to 12 weeks unpaid All private staff
Federal Employees Parental Leave Act (FEPLA) up to 12 weeks Applies to federal staff
Uniformed Services Employment and Reemployment Rights Act (USERRA) Guarantees staff returning from military service/ training the right to be reemployed at his or her former job (or as nearly comparable a job as possible) with the same benefits All private and federal staff

Reference

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