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NYC Clerkship Bonus Post-Tax
Posted: Thu Sep 26, 2013 4:33 pm
by Anonymous User
Any idea what a $50K clerkship bonus in NYC translates into after taxes (single, no dependents, only 1 or 2 exemptions)?
Re: NYC Clerkship Bonus Post-Tax
Posted: Thu Sep 26, 2013 4:40 pm
by ragelion
FAT STACKS
Re: NYC Clerkship Bonus Post-Tax
Posted: Thu Sep 26, 2013 4:46 pm
by quakeroats
Anonymous User wrote:Any idea what a $50K clerkship bonus in NYC translates into after taxes (single, no dependents, only 1 or 2 exemptions)?
It's treated just like income, so what you'll owe will depend on when the bonus is paid out. If you're lucky, it'll be in the year you start working for the firm (and aren't making what you'll be making the next year).
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Re: NYC Clerkship Bonus Post-Tax
Posted: Fri Sep 27, 2013 2:55 pm
by Anonymous User
Not to hi-jack, but I am curious as to if any firms pay hiring than 50k for bonuses? also when do you get the bonus, the day you start or can you ask for advance?
Re: NYC Clerkship Bonus Post-Tax
Posted: Sun Sep 29, 2013 4:14 pm
by Anonymous User
The after-tax amount was approximately $34K, if I remember correctly. You can ask for it before you start, but there's no guarantee you'll get it. Varies on a firm-by-firm basis, from what I understand. Some firms require you to repay the bonus (on a prorated basis) if you leave voluntarily before your one-year anniversary.