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I got 7-8k back. My bonus was paid in December so that included my internship and 50k sign on. The 10k relocation was paid the following calendar year.
Nice - isn't it crazy that 50-60K is really just like 15k after taxes?
I also feel like it's a bit unethical that you have to pay back the gross amount of the sign on bonus if you leave within two years - so you'd have to pay back more than they gave you...
There’s no way a 50k bonus is coming down to 15k. It would be taxed at your highest marginal tax rate which is 37%. With state and local it should be around 25k take home.
I think I got 7500 and the rest was witheld/taxed. Figure I'll get another 8-9k with my tax return as the person above described?
Dude you are retarded. How do you know so little about personal income tax after presumably having worked a few years pre MBA? The amount you are taxed is a factor of of your taxable income. That's it. Some banks withhold bonus at the top marginal tax rate and youll get a big refund. Some treat it as supplemental income and withhold at 22% (so for year end bonuses you'll get hammered if you dont adjust in advance or make an estimated payment in that year). Pretty freaking simple to go online, look at the tax brackets, figure out how much taxable income you'll have, then calculate your tax liability. The difference btwn that and what hit your account will be your refund or what you owe.
In terms of the clawback, you get a tax refund at the end of the year to make you "whole" on the difference between the gross and net amounts.
Just to clarify, how much did you receive in all after taxes?
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