What the finiquito includes
The finiquito adds up everything your employer owes you on the day your employment ends:
- Salary for the days worked in the last month. Your monthly salary divided by the calendar days of the month, times the days worked.
- Accrued, unused holidays. By law you’re entitled to at least 30 calendar days a year, though your collective agreement may give you more. They accrue in proportion to the time worked in the year; if you’ve taken more than you’ve accrued, your employer can deduct them.
- Accrued extra payments. Only if they aren’t prorated in your monthly payslip. This calculator assumes each extra payment accrues by semester (summer: January–June; Christmas: July–December). Check your collective agreement: some set annual accrual, which changes the amount.
- Severance pay, if you leave because of unfair dismissal, objective dismissal or the end of a temporary contract. It’s calculated separately with the rules of the severance pay calculator.
Worked example
Someone earning €24,000 gross a year in 14 non-prorated payments resigns on 15 March 2026 without having taken any holiday that year.
- Monthly salary: 24,000 / 14 = €1,714.29.
- Days of March: €1,714.29 / 31 × 15 days = €829.49.
- Holidays: 74 days have passed from 1 January to 15 March, so 74 / 365 × 30 = 6.08 days have accrued. At €57.14 a day, that’s €347.55.
- Summer extra payment: 74 of the 181 days of the semester, i.e. €700.87.
- Total gross: €1,877.92. Since they resigned, there’s no severance pay.
What each type of termination gives you
| Reason | Finiquito | Severance | Unemployment benefit |
|---|---|---|---|
| Resignation | Yes | No | Generally no |
| End of temporary contract | Yes | 12 days per year | Yes |
| Fair objective dismissal | Yes | 20 days per year | Yes |
| Unfair dismissal | Yes | 33 days per year | Yes |
| Fair disciplinary dismissal | Yes | No | Yes |
If you’re going to be out of work, also check how much unemployment benefit you’re entitled to.
Frequently asked questions
What is the finiquito?
The finiquito is the final settlement your employer must pay when your employment ends in Spain: salary for the days worked in the last month, holidays accrued but not taken and any accrued extra payments. You’re entitled to it however the job ends, including when you resign.
What’s the difference between finiquito and severance pay?
The finiquito is what your employer owes you for work already done and always applies. Severance pay (indemnización) compensates for losing your job and only applies in some cases: unfair dismissal, objective dismissal or the end of a temporary contract.
Do I get a finiquito if I resign?
Yes. Even if you resign, your employer must pay the days worked in the last month, accrued unused holidays and accrued extra payments. You won’t get severance pay, though. Remember to give the notice period set in your collective agreement: if you don’t, your employer can deduct the missing days.
Can unused holidays be paid instead of taken?
Only when the employment ends. While you’re working, holidays can’t be replaced by money, but if your contract ends with days left, your employer must pay them in the finiquito.
Should I sign the finiquito?
Signing it confirms you’ve received the money. If you disagree with the amount or with the dismissal, you can sign adding “no conforme” (not in agreement) next to your signature. You’re entitled to have a workers’ representative present when you sign.
Is the finiquito taxed?
The salary items in the finiquito (salary, holidays and extra payments) bear Social Security and income tax like any other payslip. Statutory severance pay, on the other hand, bears no Social Security and is income-tax exempt up to the legal limit.
Other calculators
- Net salary calculator: Gross to net pay in Spain: income tax withholding (IRPF), Social Security and your monthly take-home pay.
- Unemployment benefit (paro) calculator: Whether you qualify for unemployment benefit in Spain, how long it lasts and how much you’ll get.
- Severance pay calculator: Unfair dismissal, objective dismissal or end of a temporary contract under Spanish law, with legal caps.
- AI CV analyzer: check how well your CV matches a specific job offer and what to improve.