How much do SAs/ First years actually make?

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Anonymous User
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How much do SAs/ First years actually make?

Postby Anonymous User » Tue Sep 06, 2011 11:03 pm

Assuming 160k/yr, after taxes, assuming you are single what would the actual 2-wk paycheck be in NY? In DC? No speculation please! But if you actually know I would be curious.

Anonymous User
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Re: How much do SAs/ First years actually make?

Postby Anonymous User » Tue Sep 06, 2011 11:12 pm

Anonymous User wrote:Assuming 160k/yr, after taxes, assuming you are single what would the actual 2-wk paycheck be in NY? In DC? No speculation please! But if you actually know I would be curious.


i know you said no speculation, but i remember reading somewhere before that after taxes the takeaway on a 160k salary is somewhere between 105-110k.


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rayiner
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Re: How much do SAs/ First years actually make?

Postby rayiner » Tue Sep 06, 2011 11:24 pm

Anonymous User wrote:Assuming 160k/yr, after taxes, assuming you are single what would the actual 2-wk paycheck be in NY? In DC? No speculation please! But if you actually know I would be curious.


For someone who is single living in NYC monthly paycheck should be about $8,200.

imchuckbass58
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Re: How much do SAs/ First years actually make?

Postby imchuckbass58 » Tue Sep 06, 2011 11:31 pm

rayiner wrote:
Anonymous User wrote:Assuming 160k/yr, after taxes, assuming you are single what would the actual 2-wk paycheck be in NY? In DC? No speculation please! But if you actually know I would be curious.


For someone who is single living in NYC monthly paycheck should be about $8,200.


This is about right. After withholding my paycheck was roughly $4200/2 weeks. Actual tax might vary slightly based on deductions, but it's in the $4000-$4400 probably.

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irie
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Re: How much do SAs/ First years actually make?

Postby irie » Tue Sep 06, 2011 11:39 pm

imchuckbass58 wrote:
rayiner wrote:
Anonymous User wrote:Assuming 160k/yr, after taxes, assuming you are single what would the actual 2-wk paycheck be in NY? In DC? No speculation please! But if you actually know I would be curious.


For someone who is single living in NYC monthly paycheck should be about $8,200.


This is about right. After withholding my paycheck was roughly $4200/2 weeks. Actual tax might vary slightly based on deductions, but it's in the $4000-$4400 probably.


How much are bonuses taxed in NY? Assuming same $160k salary with a $7.5k bonus (is that how much first years got on the cravath scale??)

Would love to guesstimate how quickly I can pay off that law school debt... especially the high interest loans...

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rayiner
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Re: How much do SAs/ First years actually make?

Postby rayiner » Tue Sep 06, 2011 11:41 pm

irie wrote:
imchuckbass58 wrote:
rayiner wrote:
Anonymous User wrote:Assuming 160k/yr, after taxes, assuming you are single what would the actual 2-wk paycheck be in NY? In DC? No speculation please! But if you actually know I would be curious.


For someone who is single living in NYC monthly paycheck should be about $8,200.


This is about right. After withholding my paycheck was roughly $4200/2 weeks. Actual tax might vary slightly based on deductions, but it's in the $4000-$4400 probably.


How much are bonuses taxed in NY? Assuming same $160k salary with a $7.5k bonus (is that how much first years got on the cravath scale??)

Would love to guesstimate how quickly I can pay off that law school debt... especially the high interest loans...


Your marginal dollar is taxed at roughly 40%.

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birdlaw117
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Re: How much do SAs/ First years actually make?

Postby birdlaw117 » Tue Sep 06, 2011 11:41 pm

irie wrote:
imchuckbass58 wrote:
rayiner wrote:
Anonymous User wrote:Assuming 160k/yr, after taxes, assuming you are single what would the actual 2-wk paycheck be in NY? In DC? No speculation please! But if you actually know I would be curious.


For someone who is single living in NYC monthly paycheck should be about $8,200.


This is about right. After withholding my paycheck was roughly $4200/2 weeks. Actual tax might vary slightly based on deductions, but it's in the $4000-$4400 probably.


How much are bonuses taxed in NY? Assuming same $160k salary with a $7.5k bonus (is that how much first years got on the cravath scale??)

Would love to guesstimate how quickly I can pay off that law school debt... especially the high interest loans...

Bonuses are taxed the same as any other compensation (assuming its in cash form and not something weird).

Sup Kid
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Re: How much do SAs/ First years actually make?

Postby Sup Kid » Wed Sep 07, 2011 12:20 am

rayiner wrote:
Anonymous User wrote:Assuming 160k/yr, after taxes, assuming you are single what would the actual 2-wk paycheck be in NY? In DC? No speculation please! But if you actually know I would be curious.


For someone who is single living in NYC monthly paycheck should be about $8,200.

This is pretty accurate if you are just talking about taxes being taken out. However, your total paycheck will be lower, since your firm will also take out money for health insurance, 401(k) plans, and at some firms an automatic contribution plan that is in addition to the 401(k).




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