The calculator
Interview cost calculator: cost per hire by component.
Twelve inputs, five components, one total. Every number is derived from a formula you can audit on the methodology page. Defaults use BLS 2024 medians and a 1.35 benefits multiplier.
How to use it: start with role level and function (the calculator auto-fills loop defaults and salary). Then tune the rounds, hours, and recruiter model to match your process. Change the salary of the open role to recalculate the vacancy cost. The output panel updates live.
Inputs
Defaults change with role + function
5 rounds
3 people
1 hr
10
$/ year
Software developer, $133,080
1.35x
Internal team, salary allocated
$/ year
45 days
2.0x
Total cost per hire
$55,847
1063% above the SHRM 2026 benchmark ($4,800)
- Interviewer time$2,937 (5%)
- Recruiter cost$700 (1%)
- Tooling amortised$250 (0%)
- Candidate logistics$38 (0%)
- Vacancy cost$51,923 (93%)
Loaded hourly rate
$86.37/hr
Total panel-hours
34.0 hrs
Cost excl. vacancy
$3,924
Daily vacancy cost
$1,154
Loaded rate = base salary x benefits multiplier / 2,080 hours. Vacancy cost = salary x impact / 260 working days x days to fill. See methodology for the full formula set.
A worked example you can audit.
Here is the default senior-engineering scenario, line by line. Running this in the calculator produces the same numbers. If anything looks off to your CFO, start here.
| Line item | Calculation | Amount |
|---|---|---|
| Loaded hourly rate | $133,080 x 1.35 / 2,080 | $86.38 |
| Finalist panel hours | 5 rounds x 3 interviewers x 1.25 hr | 18.8 hr |
| Runner-up panel time | 18.8 x 0.4 x 1.5 | 11.3 hr |
| Phone screen hours | (10 - 2) x 0.5 | 4.0 hr |
| Interviewer time | 34.1 hr x $86.38 | $2,946 |
| Recruiter (in-house) | 14 hr x $50 | $700 |
| Tooling amortised | Stack / hires per year | $250 |
| Logistics (virtual) | $15 video per finalist x ~2.5 | $38 |
| Subtotal, direct spend | $3,934 | |
| Daily vacancy cost | $150,000 x 2 / 260 | $1,154 |
| Vacancy over 45 days | $1,154 x 45 | $51,923 |
| Total loop cost | direct + vacancy | $55,857 |
Note how vacancy cost dominates the total. For most roles above the retail band, vacancy cost is 60 to 90 percent of true loop cost. Cut 10 days off the time to fill and you save $11,540 on this example. That is the single highest-leverage variable in the model.
Frequently asked questions
What makes this calculator different from others?
Most cost-per-hire calculators model recruiter and job-board spend only and divide by hires. This one adds the two biggest hidden costs: interviewer time at BLS-anchored loaded rates, and daily vacancy cost for the period the role stays open. It also lets you model recruiter costs across five fee models (in-house, contingency, retained, RPO, none) rather than a single line item. The output breaks down into the five components so you can see where every dollar goes.
Where do the default values come from?
Default salaries come from BLS OEWS May 2024 medians (software developer $133,080, sales representative $75,000, marketing manager $140,040). Benefits multiplier defaults to 1.35, which is the midpoint of the typical 1.25 to 1.45 range used in workforce cost modelling. Working hours are 2,080 per year. Working days are 260. Loop sizing (rounds, interviewers per round, hours per round) defaults by role level based on published engineering-hiring benchmarks and our own portfolio research.
How is vacancy cost calculated?
Vacancy cost uses the daily formula: annual salary multiplied by the vacancy impact multiplier, divided by 260 working days, multiplied by days to fill. The impact multiplier defaults to 2x, which approximates an individual contributor in a revenue-producing role. Set it to 1x for entry or administrative roles, 2.5x for managers, and 3x for senior leadership. The output shows daily vacancy cost separately so you can validate the number against your own productivity estimates.
Should I include vacancy cost in my cost-per-hire budget?
It depends on who is asking. The SHRM and ANSI standard excludes vacancy cost from cost per hire because it is a productivity loss, not a direct spend. That is why two companies with identical hiring budgets can have very different true cost of hiring. For internal finance conversations, a total-cost model (direct hiring spend plus vacancy cost) is more honest. For industry benchmarking against the $4,800 SHRM figure, use cost excluding vacancy.
Why is my total different from the SHRM $4,800 average?
The $4,800 average includes only direct spend (external plus internal) averaged across all roles and industries. Engineering, executive, and senior roles are individually 2 to 10 times higher because of interviewer hours and agency fees. Retail and hospitality are well below the average. The calculator shows your number versus the benchmark as a percentage delta, which is usually more useful than the raw average.