How to calculate unemployment compensation amount in NYS - confused about the formula
I'm trying to figure out how much I'll get for unemployment benefits but the NYS Department of Labor website isn't super clear about the calculation. I made $52,000 last year working full time at a marketing firm. Does anyone know the actual formula they use? I heard it's based on your highest quarter but I'm not sure how that works exactly. Also do they factor in overtime pay or just base salary? Really need to know so I can budget properly while job searching.
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Rachel Tao
The NYS Department of Labor uses your highest earning quarter from your base period (first 4 of the last 5 completed quarters before you filed). They take that amount and divide by 26 to get your weekly benefit rate. Maximum is currently $504 per week. Your total benefits would be 26 times your weekly rate or half your base period wages, whichever is lower. Overtime definitely counts as wages.
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Sayid Hassan
•Thanks! So if my highest quarter was around $15,000 that would be about $577 per week but capped at $504? That actually sounds right based on what I'm seeing in my account.
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Derek Olson
just look at your monetary determination letter they send you, it breaks down everything including your base period wages and weekly benefit amount
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Sayid Hassan
•Haven't gotten that yet, still waiting for my claim to process. How long did yours take?
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Derek Olson
•took like a week for me but that was last year, might be faster now
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Danielle Mays
If you're having trouble getting through to NYS Department of Labor to check on your monetary determination, I used a service called Claimyr that helped me reach an agent quickly. Check out claimyr.com - they have a demo video at https://youtu.be/qyftW-mnTNI that shows how it works. Saved me hours of trying to call during peak times.
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Roger Romero
•Interesting, never heard of that before. Did they charge you for it?
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Danielle Mays
•They do charge but honestly was worth it to avoid the headache of calling repeatedly. Got connected to an agent who explained my whole calculation in detail.
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Anna Kerber
WAIT so they don't use your annual salary?? I've been assuming my $48k salary would just be divided by 52 weeks or something. This is so confusing why can't they just make it simple!
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Rachel Tao
•No, it's quarterly based because your earnings can vary throughout the year. Using the highest quarter ensures you get benefits based on your best earning period during the base period.
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Niko Ramsey
Remember you also have to pay taxes on unemployment benefits now, so factor that into your budgeting. They'll send you a 1099-G at the end of the year.
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