Net Summer Associate Weekly Pay Forum
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Net Summer Associate Weekly Pay
Can any previous summer associates tell me how much I can expect to make after taxes each week this summer? I'm working for a firm that has a $160k first-year scale. I'm trying to budget my loans for 3L and wanted to know how much I can try to save over the summer.
Thanks all.
Thanks all.
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Re: Net Summer Associate Weekly Pay
It depends. Both on the location of the firm (state tax withholding) and the firm's withholding rate (is everyone calculated on an annualized basis or do they adjust in light of the summer length).Anonymous User wrote:Can any previous summer associates tell me how much I can expect to make after taxes each week this summer? I'm working for a firm that has a $160k first-year scale. I'm trying to budget my loans for 3L and wanted to know how much I can try to save over the summer.
Thanks all.
- NinerFan
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Re: Net Summer Associate Weekly Pay
I'm pretty sure there's other posts about this. It depends on where you are, but my guess for myself is about 1/3 will go to taxes and withholding.
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Re: Net Summer Associate Weekly Pay
The firm is in Chicago and they do not adjust. Unfortunately, I know that but I don't know how to do the calculationsLawIdiot86 wrote:It depends. Both on the location of the firm (state tax withholding) and the firm's withholding rate (is everyone calculated on an annualized basis or do they adjust in light of the summer length).Anonymous User wrote:Can any previous summer associates tell me how much I can expect to make after taxes each week this summer? I'm working for a firm that has a $160k first-year scale. I'm trying to budget my loans for 3L and wanted to know how much I can try to save over the summer.
Thanks all.

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Re: Net Summer Associate Weekly Pay
That's what I had been guestimating in my rough sketches, but I thought perhaps someone who had actually gotten one of these elusive checks I'm chasing might know more precisely.NinerFan wrote:I'm pretty sure there's other posts about this. It depends on where you are, but my guess for myself is about 1/3 will go to taxes and withholding.
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Re: Net Summer Associate Weekly Pay
Very useful site.Anonymous User wrote:The firm is in Chicago and they do not adjust. Unfortunately, I know that but I don't know how to do the calculationsLawIdiot86 wrote:It depends. Both on the location of the firm (state tax withholding) and the firm's withholding rate (is everyone calculated on an annualized basis or do they adjust in light of the summer length).Anonymous User wrote:Can any previous summer associates tell me how much I can expect to make after taxes each week this summer? I'm working for a firm that has a $160k first-year scale. I'm trying to budget my loans for 3L and wanted to know how much I can try to save over the summer.
Thanks all.
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Last edited by CyLaw on Mon Apr 30, 2012 10:07 pm, edited 1 time in total.
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Re: Net Summer Associate Weekly Pay
Error loading the page. Not sure if trolling....CyLaw wrote:Very useful site.Anonymous User wrote:The firm is in Chicago and they do not adjust. Unfortunately, I know that but I don't know how to do the calculationsLawIdiot86 wrote:It depends. Both on the location of the firm (state tax withholding) and the firm's withholding rate (is everyone calculated on an annualized basis or do they adjust in light of the summer length).Anonymous User wrote:Can any previous summer associates tell me how much I can expect to make after taxes each week this summer? I'm working for a firm that has a $160k first-year scale. I'm trying to budget my loans for 3L and wanted to know how much I can try to save over the summer.
Thanks all.
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Re: Net Summer Associate Weekly Pay
Shorten the URL and it works. My math says you will get 4,090 every two weeks.Anonymous User wrote:Error loading the page. Not sure if trolling....CyLaw wrote:Very useful site.Anonymous User wrote:The firm is in Chicago and they do not adjust. Unfortunately, I know that but I don't know how to do the calculationsLawIdiot86 wrote:
It depends. Both on the location of the firm (state tax withholding) and the firm's withholding rate (is everyone calculated on an annualized basis or do they adjust in light of the summer length).
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Re: Net Summer Associate Weekly Pay
Sorry. I cut out the state part and did not realize that broke the URL. fixed in original post now.Anonymous User wrote:Error loading the page. Not sure if trolling....CyLaw wrote: Very useful site.
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Re: Net Summer Associate Weekly Pay
$6,666 in New York turns into $3,800 real quick.
- dood
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Re: Net Summer Associate Weekly Pay
$4400 every two weeks with 2 withholdingsAnonymous User wrote:Can any previous summer associates tell me how much I can expect to make after taxes each week this summer? I'm working for a firm that has a $160k first-year scale. I'm trying to budget my loans for 3L and wanted to know how much I can try to save over the summer.
Thanks all.
for 10 week summer
fed tax refund: $4800 (with $2K hope education credit for paying tuition myself)
state refund: $800
HTH
- Stanford4Me
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Re: Net Summer Associate Weekly Pay
If your firm adjusts your taxes to reflect the fact that you're only working for 10 weeks then your taxes will not be straight forward. You'll know if they adjust because you have to fill out paperwork certifying that you'll have only worked this calendar year for the firm.Anonymous User wrote:Can any previous summer associates tell me how much I can expect to make after taxes each week this summer? I'm working for a firm that has a $160k first-year scale. I'm trying to budget my loans for 3L and wanted to know how much I can try to save over the summer.
Thanks all.
My taxes last summer were never straight-forward. I remember during 1 two-week period I took home $4,900, and another I took home closer to $4,000.
ETA: Also, I'm in Texas so there's no city/state income tax.
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Re: Net Summer Associate Weekly Pay
Anyone know how DC taxes work. Do I pay my state or DC taxes?
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Re: Net Summer Associate Weekly Pay
IIRC, DC does not tax non-residents who live less than half the year in the district and does not have a commuter tax. Firm should provide you with a non-resident certification form. You will have to pay whatever taxes are necessary for your home state and should ask your firm to withhold those taxes as necessary.Anonymous User wrote:Anyone know how DC taxes work. Do I pay my state or DC taxes?
- Big Shrimpin
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Re: Net Summer Associate Weekly Pay
Not enough. HTFHAnonymous User wrote:Can any previous summer associates tell me how much I can expect to make after taxes each week this summer? I'm working for a firm that has a $160k first-year scale. I'm trying to budget my loans for 3L and wanted to know how much I can try to save over the summer.
Thanks all.
- Glock
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Re: Net Summer Associate Weekly Pay
You shouldn't have too much held back in taxes if you opt for the right withholding amount. Your yearly income isn't going to be that high. Use an online calculator.
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Re: Net Summer Associate Weekly Pay
What is the right withholding amount?
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Re: Net Summer Associate Weekly Pay
http://www.irs.gov/individuals/article/ ... 96,00.htmlAnonymous User wrote:What is the right withholding amount?
- Glock
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Re: Net Summer Associate Weekly Pay
Anonymous User wrote:What is the right withholding amount?
You should fill out a tax form on which you elect what % you want witheld. I can't remember if it is the W-4 or that is something different, but you don't have to opt for 25% or something. I opted for 10% and still got a small refund on yearly wages of 27 minus the deductions. In my opinion you want neither a huge tax bill nor a huge refund. Small refund is good.
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Re: Net Summer Associate Weekly Pay
Is this new? I have never seen a w4 or the like that asked for the % you want withhold. They ask how many allowances you want to claim and if there is any additional fixed amount you want withhold per paycheck.Glock wrote:Anonymous User wrote:What is the right withholding amount?
You should fill out a tax form on which you elect what % you want witheld. I can't remember if it is the W-4 or that is something different, but you don't have to opt for 25% or something. I opted for 10% and still got a small refund on yearly wages of 27 minus the deductions. In my opinion you want neither a huge tax bill nor a huge refund. Small refund is good.
Maybe you are talking about a state specific form?
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- Glock
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Re: Net Summer Associate Weekly Pay
CyLaw wrote:Is this new? I have never seen a w4 or the like that asked for the % you want withhold. They ask how many allowances you want to claim and if there is any additional fixed amount you want withhold per paycheck.Glock wrote:Anonymous User wrote:What is the right withholding amount?
You should fill out a tax form on which you elect what % you want witheld. I can't remember if it is the W-4 or that is something different, but you don't have to opt for 25% or something. I opted for 10% and still got a small refund on yearly wages of 27 minus the deductions. In my opinion you want neither a huge tax bill nor a huge refund. Small refund is good.
Maybe you are talking about a state specific form?
I think it is optional and many places just have their bookkeeper set it for you, but the form has been around forever. My family's business has to use it all the time because we often employ people who make a killing for 3 months but are off the rest of the year. Shitty withholding rates murder them.
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Re: Net Summer Associate Weekly Pay
I think glock is pretty spot on. Personally I will be taking 25 deductions this summer and I expect my refund/taxes owed to be ~0. (I am married and my wife works so regarding the 25 deductions, ymmv)
- bceagles182
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Re: Net Summer Associate Weekly Pay
Is this really that complicated? If you're single and supporting yourself, with no additional income, can't you just put 1 allowance and be fine? I've done this with every job I've had previously.
- Na_Swatch
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Re: Net Summer Associate Weekly Pay
if you put down one allowance they tax you as if you were making 160k that year... ur only making 30k. So you'll get taxed at least 4x the amount you actually need to be.bceagles182 wrote:Is this really that complicated? If you're single and supporting yourself, with no additional income, can't you just put 1 allowance and be fine? I've done this with every job I've had previously.
Seriously? What are you waiting for?
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