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4700 as a first year??? Mines 4000 as a second year after paying taxes and maxing out 401k, contributing to HSA, premium payment for health and dental, and using pretax dollars for transit passRedPurpleBlue wrote:Take home pay as a 1st year should be $4,700 every two weeks.
Firms generally do not match 401k contributions, so there is no free money, but you should be putting as much money into your 401k as you feel comfortable with.
4700 sounds right before 401k/HSA/InsuranceFedFan123 wrote:4700 as a first year??? Mines 4000 as a second year after paying taxes and maxing out 401k, contributing to HSA, premium payment for health and dental, and using pretax dollars for transit passRedPurpleBlue wrote:Take home pay as a 1st year should be $4,700 every two weeks.
Firms generally do not match 401k contributions, so there is no free money, but you should be putting as much money into your 401k as you feel comfortable with.
Correct, my take-home pay as a first year is about $3,850 biweekly.FedFan123 wrote:4700 as a first year??? Mines 4000 as a second year after paying taxes and maxing out 401k, contributing to HSA, premium payment for health and dental, and using pretax dollars for transit passRedPurpleBlue wrote:Take home pay as a 1st year should be $4,700 every two weeks.
Firms generally do not match 401k contributions, so there is no free money, but you should be putting as much money into your 401k as you feel comfortable with.
Well then it’s not take home pay. Unless I guess you are uninsured and not maxing out your pretax investment accountsAnonymous User wrote:4700 sounds right before 401k/HSA/InsuranceFedFan123 wrote:4700 as a first year??? Mines 4000 as a second year after paying taxes and maxing out 401k, contributing to HSA, premium payment for health and dental, and using pretax dollars for transit passRedPurpleBlue wrote:Take home pay as a 1st year should be $4,700 every two weeks.
Firms generally do not match 401k contributions, so there is no free money, but you should be putting as much money into your 401k as you feel comfortable with.
I've heard for the market 50k bonus it's in the 28k to 32k range.Anonymous User wrote:Does anyone have an idea for a clerkship bonus?
Yeah, I put 4700 solely after accounting for federal, state, and local taxes. I do not know how much people are putting in their 401k/HSAs and I do not know how much they have to spend on insurance, so I'm not going to guess those numbers.FedFan123 wrote:Well then it’s not take home pay. Unless I guess you are uninsured and not maxing out your pretax investment accountsAnonymous User wrote:4700 sounds right before 401k/HSA/InsuranceFedFan123 wrote:4700 as a first year??? Mines 4000 as a second year after paying taxes and maxing out 401k, contributing to HSA, premium payment for health and dental, and using pretax dollars for transit passRedPurpleBlue wrote:Take home pay as a 1st year should be $4,700 every two weeks.
Firms generally do not match 401k contributions, so there is no free money, but you should be putting as much money into your 401k as you feel comfortable with.
I practice mid-law with a salary of $135,000 and take home $4,200 every two weeks before 401k/Insurance. I thought the difference would be bigger. $500 vs losing my sanity. Hmmmmm.RedPurpleBlue wrote:Yeah, I put 4700 solely after accounting for federal, state, and local taxes. I do not know how much people are putting in their 401k/HSAs and I do not know how much they have to spend on insurance, so I'm not going to guess those numbers.FedFan123 wrote:Well then it’s not take home pay. Unless I guess you are uninsured and not maxing out your pretax investment accountsAnonymous User wrote:4700 sounds right before 401k/HSA/InsuranceFedFan123 wrote:4700 as a first year??? Mines 4000 as a second year after paying taxes and maxing out 401k, contributing to HSA, premium payment for health and dental, and using pretax dollars for transit passRedPurpleBlue wrote:Take home pay as a 1st year should be $4,700 every two weeks.
Firms generally do not match 401k contributions, so there is no free money, but you should be putting as much money into your 401k as you feel comfortable with.
Two things:Anonymous User wrote:I practice mid-law with a salary of $135,000 and take home $4,200 every two weeks before 401k/Insurance. I thought the difference would be bigger. $500 vs losing my sanity. Hmmmmm.RedPurpleBlue wrote:Yeah, I put 4700 solely after accounting for federal, state, and local taxes. I do not know how much people are putting in their 401k/HSAs and I do not know how much they have to spend on insurance, so I'm not going to guess those numbers.FedFan123 wrote:Well then it’s not take home pay. Unless I guess you are uninsured and not maxing out your pretax investment accountsAnonymous User wrote:4700 sounds right before 401k/HSA/InsuranceFedFan123 wrote:4700 as a first year??? Mines 4000 as a second year after paying taxes and maxing out 401k, contributing to HSA, premium payment for health and dental, and using pretax dollars for transit passRedPurpleBlue wrote:Take home pay as a 1st year should be $4,700 every two weeks.
Firms generally do not match 401k contributions, so there is no free money, but you should be putting as much money into your 401k as you feel comfortable with.
I am in CA, married, claiming 3 exemptions. The 4,200 (26 payments) doesn’t include monthly or annual bonuses. FWIW, after insurance it drops to $3,900 and I should probably start investing into my 401k...2013 wrote:Two things:Anonymous User wrote:I practice mid-law with a salary of $135,000 and take home $4,200 every two weeks before 401k/Insurance. I thought the difference would be bigger. $500 vs losing my sanity. Hmmmmm.RedPurpleBlue wrote:Yeah, I put 4700 solely after accounting for federal, state, and local taxes. I do not know how much people are putting in their 401k/HSAs and I do not know how much they have to spend on insurance, so I'm not going to guess those numbers.FedFan123 wrote:Well then it’s not take home pay. Unless I guess you are uninsured and not maxing out your pretax investment accountsAnonymous User wrote:4700 sounds right before 401k/HSA/InsuranceFedFan123 wrote:4700 as a first year??? Mines 4000 as a second year after paying taxes and maxing out 401k, contributing to HSA, premium payment for health and dental, and using pretax dollars for transit passRedPurpleBlue wrote:Take home pay as a 1st year should be $4,700 every two weeks.
Firms generally do not match 401k contributions, so there is no free money, but you should be putting as much money into your 401k as you feel comfortable with.
1) the $4,700 number doesn’t include bonus and is for a single person with one exemption.
2) are you sure you mean every two weeks (26 payments)? I just did a quick calculation and that’d mean you’re paying only 19% tax in NYC (federal, FICA, state, and city). I call BS on that.
After plugging the numbers in here, that doesn't seem too strange. You're only making $20,000 less after taxes than the single NYC associate. If you were single and claiming one exemption in NY, you'd be paying roughly $14,000 more in taxes every year.Anonymous User wrote:I am in CA, married, claiming 3 exemptions. The 4,200 (26 payments) doesn’t include monthly or annual bonuses. FWIW, after insurance it drops to $3,900 and I should probably start investing into my 401k...