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NY Biglaw Question - Post-Tax Income

Posted: Tue Feb 10, 2015 7:42 pm
by Anonymous User
What is your take home for the year after taxes?

Assume that you're living in Manhattan. Just trying to figure out a budget as a first-year associate.

Re: NY Biglaw Question - Post-Tax Income

Posted: Tue Feb 10, 2015 7:48 pm
by Anonymous User
Anonymous User wrote:What is your take home for the year after taxes?

Assume that you're living in Manhattan. Just trying to figure out a budget as a first-year associate.
somewhere b/w 90 and 100. how you're paying off your loans would impact returns. first yr may be slightly less as bar course payments and such are a form of income.

Re: NY Biglaw Question - Post-Tax Income

Posted: Tue Feb 10, 2015 7:51 pm
by Anonymous User
Anonymous User wrote:
Anonymous User wrote:What is your take home for the year after taxes?

Assume that you're living in Manhattan. Just trying to figure out a budget as a first-year associate.
somewhere b/w 90 and 100. how you're paying off your loans would impact returns. first yr may be slightly less as bar course payments and such are a form of income.
Same range for me. Though how far that $$ goes varies wildly. For example, someone who lives in Jersey City (meaning no NYC local tax, which is close to 7K for a 1st year), and who has only a small amount of loans can save a bunch, and live well. But if you live in a pricey area of Manhattan and have well into 6 figures of debt, that $$ doesn't go too far.