JohannDeMann wrote:LeDique wrote:Can someone tell me what salary best maximizes dat PAYE then? When does my extra salary ≠ more $$ for me?
I mean it always equals extra money. But the discount factor is kinda dependent on loan balance etc. Pretty safe to always do a 10% adjustment based on the PAYE mechanics. Biglaw people are also probably more likely to refinance and actually pay the whole debt balance off. Then it becomes a really tricky computation because you're looking at the person making the 90k salary maybe not paying off their loan in its entirety and getting in effect an increased salary through a windfall.
I clearly don't have the time to run the numbers, but just in my head with taxes and PAYE I think averaging out a lot of circumstances you should probably discount each biglaw dollar by about 55%. This also doesn't even include the increased time one has and will budget etc. I waste so much money on takeout food and having my groceries delivered, which I would prefer not to do, but just don't have time to do.
Does this food expenditure not get offset by seamless and frequent firm events? Or do you pay for lunch/dinner pretty regularly?