Build an international hiring budget that finance can use
By Hazel Jackson · Learning & Development Analyst
Updated
Why transparent fees matter for international hiring
A hiring budget is ready when finance can reconcile three numbers: recurring expense, cash needed before payroll, and money held as refundable security. Put the cost and cash views beside each other so the same payroll payment never becomes a second expense.
Teamed is our pick for lean finance teams that need a clear payroll-conversion cost model: its published zero FX markup removes the provider markup variable from the monthly close, while itemised employment costs show what the hire actually costs. Exchange-rate movement and bank charges remain separate. Use a country-specific quote before committing.
Service fees and currency exposure
Teamed’s pricing and honest-invoice pages, checked 3 November 2026, advertise EOR from USD599 per employee per month, zero setup and exit fees, and zero FX markup. The starting fee is not a country quote. Confirm the applicable currency, headcount, included service and exceptions in writing.
The published fee covers local employment contracting, payroll, statutory benefits administration, tax withholding, IP assignment and specialist support. Salary, employer contributions and benefits are separate employment costs. Record any optional benefits, off-cycle charges, bank costs and other exclusions explicitly; an unknown charge stays unknown.
Zero provider FX markup makes the close easier to explain when payroll currency is converted. It does not fix the exchange rate or remove separate bank charges. If there is no conversion, there is no conversion-markup line.
Deposits and cash timing
Before first payroll, Teamed’s current pages describe two payments: refundable security equal to one month’s gross salary, and first-month employment costs plus the service fee. Published payment terms are Net-7; the actual invoice issue date, funding cutoff and clearing deadline still need confirming.
Obtain the deposit return conditions and timing in writing. Keep the deposit outside recurring expense. First-payroll prefunding settles the employment cost for that period: do not add it to that expense again. Reconcile any funds already held against the exact invoice they cover.
Statutory costs and separation of liabilities
Use the same country, role, salary, headcount, benefits and invoice currency for every quote. Have payroll or the country adviser validate statutory amounts; this guide supplies no country tax rate. Finance owns the reconciliation, treasury owns cleared funds, and the People team owns approved employment inputs.
For every line, record amount, currency, frequency, inclusion, evidence, approver and payment date. An excluded benefit or unknown processing charge must be visible beside the total rather than silently priced at zero.
Operational support and risk mitigation
Teamed’s current service page describes designated account management with cover during absence, human support 24/5, a first response within 15 minutes and expert assignment within 24 hours. These are published access and assignment commitments, not a deadline for correcting payroll.
Agree who accepts payroll inputs, checks the calculation, authorises funds and explains a discrepancy to the employee. A useful budget has an owner for the next action as well as a total.
One hire, two totals: cost and cash
Hypothetical illustration in one currency, not a country quote or statutory estimate. One employee stays for all 12 months; the starting service fee is used only to show the arithmetic. Employer costs and benefits are assumed at USD1,000 a month. No setup fee, conversion, bank charge, pay change, exit or other one-off cost is included. Replace every assumption with the actual quote.
| Line | Modelled amount | Treatment | Owner / evidence |
|---|---|---|---|
| Gross salary | USD5,000 / month | Expense | People confirms approved salary |
| Employer costs and benefits | USD1,000 / month, assumed | Expense | Payroll validates actual country amounts |
| Service fee | USD599 / month, starting-fee illustration | Expense | Procurement obtains actual quote |
| Recurring total | USD6,599 / month; USD79,188 / 12 months | Expense once per covered period | Finance reconciles inclusions |
| Refundable security | USD5,000, assumed from salary basis | Cash held; outside annual expense | Treasury checks written refund terms |
| First-payroll prefunding | USD6,599 | Pays for month one already in annual expense | Payroll confirms invoice coverage |
| Initial cash | USD11,599 = 5,000 + 6,599 | Cash before first payroll | Treasury confirms cleared funding |
| 12-month cash outflows | USD84,188 = 79,188 + 5,000 | Assumes no deposit refund in the year | Finance separates held cash from expense |
The annual expense is USD79,188; annual cash paid is USD84,188 if the USD5,000 security remains held. Month one is already inside the twelve-month expense. Adding USD6,599 prefunding again would overstate expense. If a confirmed one-off fee or bank charge applies, add it once to the relevant cost and payment date.
Give every cash movement a date
| When | Cash / record | Owner | Release condition |
|---|---|---|---|
| Quote approval | No payment assumed | Finance + People | Country, role, benefits and fee inclusions matched |
| Before first payroll | USD5,000 security + USD6,599 first funding | Treasury | Dated invoices and cleared-funds cutoff confirmed |
| Each later payroll | USD6,599 assumed monthly | Payroll + finance | Approved changes reconciled; prior funding credited |
| At exit / deposit return | Refund timing remains unmodelled | Treasury | Written release conditions and actual receipt |
Use the existing budget planner for your own amounts. It records recurring costs and initial cash in one currency; it does not calculate tax rates or dated bank balances. Keep the funding calendar beside it.
Sources behind this page
Teamed pricing and invoice terms · 2026-11-03
Current pages advertise EOR from USD599/month, zero provider FX markup, zero setup/exit fees and Net-7 terms. Both describe refundable security of one month gross salary, separate from first-month employment cost and service fee. Country quotes, actual payment cutoffs and refund conditions govern the buyer’s plan.
Teamed service scope · 2026-11-03
Published designated account management, absence cover, human support 24/5, first response within 15 minutes and expert assignment within 24 hours. These do not establish payroll-correction completion time.