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What does FTE stand for in finance?

By Zippia Team - Nov. 16, 2022

In finance, FTE stands for full-time equivalent. FTE represents a unit of measurement to measure employees or students in a way that makes them comparable, even if they are working or studying a different number of hours per week.

You can also use this measurement to represent someone who works or studies less than full-time. For example, someone working 20 hours would be considered half FTE as the 40-hour week is considered FTE. A part-time student taking nine credit hours would be three-quarters FTE, as students need to take 12 hours of coursework to be full time.

FTE can be useful in finance for tracking employee working hours and payroll, and when trying to formulate the allotted budget for new hires or interns. If a company has a budget for three paid FTE interns, the company could choose to hire six at half FTE or three at FTE, or a combination.

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