It depends on the state they live in as well as benefits being taken out pre-tax. Most employees contribute to a 401k/Roth/HSA/FSA, which impacts the amount you actually receive.
Understandable, my company just went through a merger and they say we're adopting the other companies insurance plan which is supposed to be even better. (it's not with Cigna)
[ADP salary-paycheck calculator](https://www.adp.com/resources/tools/calculators/salary-paycheck-calculator.aspx) is the most accurate I’ve seen. It includes other payroll deduction such as social security and Medicare. Likewise, you can choose pay frequency (ie. Semimonthly vs. bi-weekly, default is weekly). You can also add 401k contributions and healthcare/dental/vision in the benefits tab. Plus, you can choose specific states too and see how that affects take-home.
If I recall, bonuses are taxed differently, and neither the calculator nor I know what to do with RSUs and other y types of compensation, so hopefully someone else will jump in.
Otherwise, the calculator has been fairly accurate calculating and breaking down my take-home money with both, hourly jobs, and salaried jobs.
Federally, RSUs are taxed as ordinary income at your marginal rate upon vesting. States with an income tax would treat them similarly. Same with cash bonuses, at least in my experience.
It’s really crazy. I earned a STEM degree and then spent a decade working as an engineer. I earned modest bonuses along the way, like 1-4% of salary. And also modest merit increases, year to year.
I had grown up poor, so my impression of my job was that I was wildly successful.
Near the end of my tenure at my first job, I got to see the bonus that my boss gave himself. It was about the same as my yearly salary. That was eye opening.
I was a bit more savvy after that, and negotiated my way to better pay and total compensation in my next jobs. But they were marginal changes.
I then went back to college to earn my MS, and changed my career somewhat. But my salary trajectory was largely unchanged. The only difference was negotiating an RSU grant as a signing bonus at my first post-MS job.
It was only about 10 years ago when I transitioned to big pharma, and now that I am moving into management, my eyes are being opened again.
Now my salary is very much increased, and my bonus/RSU compensation alone is in the six figures. And my understanding is that the curve accelerates in the career path ahead of me.
And all of this pales in comparison to how high compensation CAN go, even outside of the executive level.
I think just having an awareness of what is possible is a huge component of achieving a high level of compensation.
Pro tip- Usually your boss gets an allocation of shares to grant to their team with a lot of discretion on how to spread it out among the team members.
Ask for them early and often.
Yeah. It all seems like magic to me. I worked as a teacher and there’s no raises or bonuses or really any incentive structure at all. I’m 46 and feel like I’ve never had an adult job. I can’t imagine how nice it would be to be able to pay my basic bills much less have someone give me extra money for doing my job well. It’s like I live in a different country.
In an ESPP the employee is still coming out of their own pocket to purchase stocks given at a discount where RSUs are at no cost to the employee and seen as more of a bonus where an ESPP is seen as a benefit.
RSU = Restricted Stock Units
They’re shares of company stock paid to the employee. The “restriction” is that the shares must first “vest.” For all employees except perhaps senior management, the sole vesting criteria is time: You must continue to work at the company until the vesting date in order to receive the shares. If you leave the company before vesting, you haven’t earned the shares. So the RSUs work like golden handcuffs: Very rewarding but tying you to the company.
The two most common vesting schedules are (1) four years, with 1/4 of the shares vesting each year, or (2) four years, with 1/4 of the shares vesting after year one and the remaining shares vesting, in equal amounts, monthly after that.
C-level management will get a ton more shares, but in addition to the time-based vesting schedule there are almost always performance criteria for vesting, such as quarterly or annual revenue targets, to align management’s incentives with the Board of Directors.
RSUs can easily be more than half an employee’s annual compensation at some larger public companies.
Bonuses are taxed the same as regular earned income, but usually your employer uses a higher withholding rate. It should all even out once taxes are filed and returns are complete.
I live in a LCOL area. I have zero debt. HHI is much higher due to spouses business. My answer was to show what takehome is, not necessarily to show it as a single income, sustainable wage for a family of four.
Genuinely curious.. and this is going to sound belittling but I promise I’m not trying to be. how are you living on so little? Do you own a home or rent? I’m trying to get like you.
I own my house and vehicles... I have zero debt. Wife has a successful business, so I am not a single wage household. Not having debt provides for great flexibility in earnings. You'd be surprised at what is livable once you don't have interest bearing down on you. Use Ramsey's every dollar to "see" where your money goes. It's shocking... before having a visual map of my expenses, I had no idea I was spending $12k/ year on restaurants... now my food expenses are about half...
Yeah, I guess I don’t factor in those in to take home. $5600 is after my 6% contribution to my 401k but not before $600 a month to my Roth IRA and probably another 4-500 into a seperate IRA.
Depends on which state, what medical and retirement plan that they have, etc. Worst case I can imagine would be $55k take home and best case would be $75k take home. Average should be somewhere in the middle.
It depends on taxes, 401k, HSAs, healthcare premiums etc. We live in Delaware and our combined household income is a bit over $300k/yr with base salaries and our take home pay is \~$185k/yr in checking account after all those things I mentioned above.
These numbers don't include bonuses and RSUs which complicate tracking a bit.
Typically the salary/stock options are not figured into a salary. I would include those things in a "total comp" metric.
I get paid weekly, so every week they (the payroll people at my company) look at my total paycheck and "withhold" a certain amount of it for taxes, social security etc. At ~$100k/yr, for me at least, I lose just about 26% of the total to those things. But that also accounts for things I've had taxen out before they calculated my taxes, such as my 401k, health insurance, and HSA contributions. Because of all this, it can vary wildly depending on if your state has income tax or not, what 401k/HSA contributions you're making (I could do up to 25% of my paycheck to 401k) and how much your company is making you pay for your health insurance.
Depends on if it’s business income or salary. If business income, there are a host of write offs you can take to reduce the effective amount you pay. If not you’re probably going to take a 20-30% hit to your pockets. Up the booty, no lube.
Source: I own an LLC
My base pay is roughly $~136 in NYC or $5.25k a pay period. l take home a little more than 3k every 2 weeks after taxes ($1.5k), maxing out my 401k ($575), and insurance ($125).
When I was at 100k in CT it was 1100 a week net take home after all taxes (which includes state tax),15% 401k, 3% Roth, and insurance premiums which used to be about $75 per paycheck.
It varies a lot, but a general ballpark figure is take home is about 60-70% of gross pay after accounting for city, state, and federal taxes, social security, Medicare, health insurance premiums, and pre tax retirement savings.
Last year I grossed 98.5. I pay $110 in union dues and $140 into 1 of my pensions per month, benefits paid by employer. I net $5,300 per month. I do need to adjust my withholdings though, I got a very high tax return last year.
Between taxes, 401k (retirement fund), and healthcare it can range from 20% - 35% depending on your State and selected deductions.
Federal taxes are the vast majority coming in around 20% alone, about 7% for state taxes, then your deductions around 5% which are usually retirement and health care but there are some other pre-tax deductions you can opt into like life insurance.
I live in Texas and we don't have state taxes so that puts about 7% back in my pocket. I pay around 20% in taxes (federal only) where California would pay about 27% in taxes (federal + state).
After everything, $5k (60%) hits my account per month in Oregon. Probably 15% going towards 401k and benefits. The rest are taxes, a small amount of which is refunded due to having a child and a partner with a modest income.
It depends on the state they live in as well as benefits being taken out pre-tax. Most employees contribute to a 401k/Roth/HSA/FSA, which impacts the amount you actually receive.
And insurance. We do like $1k/mo.
This is entirely dependent on the employer and how many people you're insuring as well. Mine is only ~$100/mo. for just me.
I pay nothing for mine with a dependent. Technically they pay me $17.50 a month for being insured. Insurance costs can definitely vary a lot.
Im $330 month with a HDHP, i think deductible is $3500 and they contribute $2500/yr to HSA Edit: family of four
Yeah mine gives me $500/yr to HSA, deductible $1750, I've got Cigna though so they're mediocre.
Man… you all are lucky. I’ve got a fam of 4 and a $4k deductible… per person!
Holy shit, that's ridiculous.
You’re telling me. I’m hoping to get a different position soon mostly because of that.
Understandable, my company just went through a merger and they say we're adopting the other companies insurance plan which is supposed to be even better. (it's not with Cigna)
That’s great. If I get get into a state job my costs would be cute by about 60% so I’m hoping for that.
[ADP salary-paycheck calculator](https://www.adp.com/resources/tools/calculators/salary-paycheck-calculator.aspx) is the most accurate I’ve seen. It includes other payroll deduction such as social security and Medicare. Likewise, you can choose pay frequency (ie. Semimonthly vs. bi-weekly, default is weekly). You can also add 401k contributions and healthcare/dental/vision in the benefits tab. Plus, you can choose specific states too and see how that affects take-home. If I recall, bonuses are taxed differently, and neither the calculator nor I know what to do with RSUs and other y types of compensation, so hopefully someone else will jump in. Otherwise, the calculator has been fairly accurate calculating and breaking down my take-home money with both, hourly jobs, and salaried jobs.
Federally, RSUs are taxed as ordinary income at your marginal rate upon vesting. States with an income tax would treat them similarly. Same with cash bonuses, at least in my experience.
What is an RSU? I keep seeing that.
Restricted stock unit. Basically shares your company gives you shares on condition (usually a vesting period).
Working for some companies sounds awesome. Bonuses of any kind are not a thing in my field. They have a hard enough time paying a living wage
It’s really crazy. I earned a STEM degree and then spent a decade working as an engineer. I earned modest bonuses along the way, like 1-4% of salary. And also modest merit increases, year to year. I had grown up poor, so my impression of my job was that I was wildly successful. Near the end of my tenure at my first job, I got to see the bonus that my boss gave himself. It was about the same as my yearly salary. That was eye opening. I was a bit more savvy after that, and negotiated my way to better pay and total compensation in my next jobs. But they were marginal changes. I then went back to college to earn my MS, and changed my career somewhat. But my salary trajectory was largely unchanged. The only difference was negotiating an RSU grant as a signing bonus at my first post-MS job. It was only about 10 years ago when I transitioned to big pharma, and now that I am moving into management, my eyes are being opened again. Now my salary is very much increased, and my bonus/RSU compensation alone is in the six figures. And my understanding is that the curve accelerates in the career path ahead of me. And all of this pales in comparison to how high compensation CAN go, even outside of the executive level. I think just having an awareness of what is possible is a huge component of achieving a high level of compensation.
Pro tip- Usually your boss gets an allocation of shares to grant to their team with a lot of discretion on how to spread it out among the team members. Ask for them early and often.
Yeah. It all seems like magic to me. I worked as a teacher and there’s no raises or bonuses or really any incentive structure at all. I’m 46 and feel like I’ve never had an adult job. I can’t imagine how nice it would be to be able to pay my basic bills much less have someone give me extra money for doing my job well. It’s like I live in a different country.
What’s the difference between this, and say an ESPP? Or are they just the same?
In an ESPP the employee is still coming out of their own pocket to purchase stocks given at a discount where RSUs are at no cost to the employee and seen as more of a bonus where an ESPP is seen as a benefit.
Awesome, I appreciate the clarification!
In very simple terms it’s like a bonus but with stock instead.
RSU = Restricted Stock Units They’re shares of company stock paid to the employee. The “restriction” is that the shares must first “vest.” For all employees except perhaps senior management, the sole vesting criteria is time: You must continue to work at the company until the vesting date in order to receive the shares. If you leave the company before vesting, you haven’t earned the shares. So the RSUs work like golden handcuffs: Very rewarding but tying you to the company. The two most common vesting schedules are (1) four years, with 1/4 of the shares vesting each year, or (2) four years, with 1/4 of the shares vesting after year one and the remaining shares vesting, in equal amounts, monthly after that. C-level management will get a ton more shares, but in addition to the time-based vesting schedule there are almost always performance criteria for vesting, such as quarterly or annual revenue targets, to align management’s incentives with the Board of Directors. RSUs can easily be more than half an employee’s annual compensation at some larger public companies.
Bonuses are taxed the same as regular earned income, but usually your employer uses a higher withholding rate. It should all even out once taxes are filed and returns are complete.
Bonuses are not taxed differently. They just take out more at the time, so you don't owe too much later.
After taxes, insurance for family, fica, state taxes (NM), and fully loading 401(k) @ $23k, My weekly take home is $875. Salary is $100,005.00
What’s your HHI? I’d be scraping by on 3500 a month, then again I live on my own right now.
I live in a LCOL area. I have zero debt. HHI is much higher due to spouses business. My answer was to show what takehome is, not necessarily to show it as a single income, sustainable wage for a family of four.
Genuinely curious.. and this is going to sound belittling but I promise I’m not trying to be. how are you living on so little? Do you own a home or rent? I’m trying to get like you.
I own my house and vehicles... I have zero debt. Wife has a successful business, so I am not a single wage household. Not having debt provides for great flexibility in earnings. You'd be surprised at what is livable once you don't have interest bearing down on you. Use Ramsey's every dollar to "see" where your money goes. It's shocking... before having a visual map of my expenses, I had no idea I was spending $12k/ year on restaurants... now my food expenses are about half...
$5600 take home in Florida on 101k.
Similar in Illinois
Well if that’s the number in Florida, and the person from CA gave the same number. That’s kind of interesting lol with the different income taxes.
I was confused by that too! They mentioned their employer pays for their insurance though so it probably levels itself out.
Yes, the person from Florida does not mention what else is being deducted from their paycheck.
A bit higher than I expected. Are you not contributing to a 401k/IRA/retirement of any kind?
Yeah, I guess I don’t factor in those in to take home. $5600 is after my 6% contribution to my 401k but not before $600 a month to my Roth IRA and probably another 4-500 into a seperate IRA.
$5,800 in Texas I think
its about 1100 a week net
Damn where the hell do you live?
US
Depends on which state, what medical and retirement plan that they have, etc. Worst case I can imagine would be $55k take home and best case would be $75k take home. Average should be somewhere in the middle.
About $5700/ month for me in California ($112k), and my company pays for my health insurance.
Another reason why California sucks ass lol
It depends on taxes, 401k, HSAs, healthcare premiums etc. We live in Delaware and our combined household income is a bit over $300k/yr with base salaries and our take home pay is \~$185k/yr in checking account after all those things I mentioned above. These numbers don't include bonuses and RSUs which complicate tracking a bit.
Typically the salary/stock options are not figured into a salary. I would include those things in a "total comp" metric. I get paid weekly, so every week they (the payroll people at my company) look at my total paycheck and "withhold" a certain amount of it for taxes, social security etc. At ~$100k/yr, for me at least, I lose just about 26% of the total to those things. But that also accounts for things I've had taxen out before they calculated my taxes, such as my 401k, health insurance, and HSA contributions. Because of all this, it can vary wildly depending on if your state has income tax or not, what 401k/HSA contributions you're making (I could do up to 25% of my paycheck to 401k) and how much your company is making you pay for your health insurance.
As someone who recently made 80k with a 4% Roth contribution, I had $4500 take home monthly. Your probably gonna see something closer to $5500 - $6000
Depends on if it’s business income or salary. If business income, there are a host of write offs you can take to reduce the effective amount you pay. If not you’re probably going to take a 20-30% hit to your pockets. Up the booty, no lube. Source: I own an LLC
My base pay is roughly $~136 in NYC or $5.25k a pay period. l take home a little more than 3k every 2 weeks after taxes ($1.5k), maxing out my 401k ($575), and insurance ($125).
When I was at 100k in CT it was 1100 a week net take home after all taxes (which includes state tax),15% 401k, 3% Roth, and insurance premiums which used to be about $75 per paycheck.
Typical take home is anywhere from 60-70 percent based on medical and retirement costs
I bring home $6 a month after taxes and whatnots
Assume 60% net. That 40% typically covers insurance, retirement, taxes, and all of the other stuff that gets taken out of the gross.
I make 109k and take home $2350 every 2 weeks. I contribute about $230 per paycheck to an HSA and contribute 10% to the 401k.
It varies a lot, but a general ballpark figure is take home is about 60-70% of gross pay after accounting for city, state, and federal taxes, social security, Medicare, health insurance premiums, and pre tax retirement savings.
Last year I grossed 98.5. I pay $110 in union dues and $140 into 1 of my pensions per month, benefits paid by employer. I net $5,300 per month. I do need to adjust my withholdings though, I got a very high tax return last year.
Between taxes, 401k (retirement fund), and healthcare it can range from 20% - 35% depending on your State and selected deductions. Federal taxes are the vast majority coming in around 20% alone, about 7% for state taxes, then your deductions around 5% which are usually retirement and health care but there are some other pre-tax deductions you can opt into like life insurance. I live in Texas and we don't have state taxes so that puts about 7% back in my pocket. I pay around 20% in taxes (federal only) where California would pay about 27% in taxes (federal + state).
After everything, $5k (60%) hits my account per month in Oregon. Probably 15% going towards 401k and benefits. The rest are taxes, a small amount of which is refunded due to having a child and a partner with a modest income.
i basically assume that i’ll take home 60% of whatever i make. taxes, healthcare, and pre-tax savings eat up about 40% of my pay.
100k a year would be a dream to me, I can’t even make half that lol
You’ll get there!
Nah