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Global Work Glossary

Lost in a maze of global employment jargon? Find your way out with our handy collection of work and HR terminology

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Salary calculator

What is a salary calculator?

A salary calculator is a tool that’s used to calculate an employee’s compensation. It takes into account the number of hours worked, pay rates, tax deductions, and benefits to provide an accurate idea of net income (total compensation after tax).

For employers, a salary calculator is useful for budgeting. By inputting data including regular and overtime hours, bonuses, and deductions, they can get an overview of the cost of an employee’s work. With the support of a global HR solution such as Multiplier, they can also ensure that they are meeting pay requirements in the countries and states they operate in.

Employees, on the other hand, often need salary calculators to be able to accurately understand their take-home pay. After they have entered their gross salary (payment before tax), the calculator will work out the tax rate in the country selected and automatically deduct any withholdings. Employees can also use the tool to work out how much they would take home after any salary changes.

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