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Spain

Spain settlement (finiquito) calculator

Work out your finiquito when a contract ends: pay for days worked, untaken accrued holiday, and the pro-rata share of extra payments.

Your total gross salary for the year, in euros.
Defaults to 30 calendar days. Check your collective agreement.

How the settlement is calculated

A finiquito is always owed when the employment relationship ends, whatever the cause (art. 49 of the Workers' Statute). It sums three parts, all based on the daily wage, which we take as the monthly salary divided by 30 (a commercial month):

  • Pay for days worked: the days of the final month not yet paid × the daily wage. This is salary you have already earned (arts. 26 and 29 ET).
  • Untaken accrued holiday: annual holiday × (days worked in the year ÷ 365) − days already taken, paid at the daily wage. Holiday accrues per calendar year (art. 38 ET).
  • Extra payments: with 14 payments, 2 × monthly salary × (days worked in the year ÷ 365). With 12 payments they are already prorated into each payslip and are not settled separately (art. 31 ET).

Holiday and extra payments accrue per calendar year and reset every 1 January. That is why the settlement does not grow with length of service, and why ending a contract in early January gives a very small amount: almost nothing has accrued in the new year. What does compensate years of service is the dismissal severance, calculated separately.

Legal reference: articles 26, 29, 31, 38 and 49 of the Workers' Statute.