Where can one make most money in the 3 yers after law school

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unc0mm0n1
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Joined: Sat Dec 25, 2010 1:06 pm

Re: Where can one make most money in the 3 yers after law school

Postby unc0mm0n1 » Wed May 11, 2011 3:09 pm

Patriot1208 wrote:That 96k includes state and city tax.


"Whew". I was thinking for a second you had to pay more than 65k a year in taxes.

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Patriot1208
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Re: Where can one make most money in the 3 yers after law school

Postby Patriot1208 » Wed May 11, 2011 3:13 pm

unc0mm0n1 wrote:
Patriot1208 wrote:That 96k includes state and city tax.


"Whew". I was thinking for a second you had to pay more than 65k a year in taxes.

lol, I posted this in a different thread awhile back assuming 180k total comp in NYC.

Federal Income Tax - 44,517
State Income tax - 13,275
City income tax for a single person - 6,448.40
Social Security Tax - 6,621.50
Medicare Tax - 2610

Total tax = 73,471.90
Post tax income = 106,528.10

Your other post said you paid total rent (including cable and utilities) of around 2300 a month. That means after rent your total income is 78,928.10.

Renzo
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Joined: Tue Dec 02, 2008 3:23 am

Re: Where can one make most money in the 3 yers after law school

Postby Renzo » Wed May 11, 2011 3:26 pm

Patriot1208 wrote:
unc0mm0n1 wrote:
Patriot1208 wrote:That 96k includes state and city tax.


"Whew". I was thinking for a second you had to pay more than 65k a year in taxes.

lol, I posted this in a different thread awhile back assuming 180k total comp in NYC.

Federal Income Tax - 44,517
State Income tax - 13,275
City income tax for a single person - 6,448.40
Social Security Tax - 6,621.50
Medicare Tax - 2610

Total tax = 73,471.90
Post tax income = 106,528.10

Your other post said you paid total rent (including cable and utilities) of around 2300 a month. That means after rent your total income is 78,928.10.


That looks about right. Wall street keeps the whole city alive, and one way they do that is very, very high taxes on bankers and lawyers.

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Verity
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Re: Where can one make most money in the 3 yers after law school

Postby Verity » Wed May 11, 2011 3:38 pm

You could also commute from Jersey to NYC. I live next to a lawyer who takes the train into Manhattan every day, and he's got an amazing new 5-bedroom house in a beautiful town. You'd be lucky to get a decent 1-bedroom apartment downtown for the same money. It's great, as long as you can get past all of the stupid stereotypes about Jersey (i.e., Jersey Shore, Jerseylicious, RHofNJ, Jersey Couture, Cake Boss...wtf?).




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