I'm trying to figure out what the monthly income is going to be for a first-year analyst. If you are taking home 5000 a month or 60000 a year, what can I expect to take home per month, assuming you have no other income coming in?
I've got the tax rate down to about 28.5% on the monthly income, which is: Federal: 18.91% New York State: 6.18% New York City: 3.45%
This brings your monthly income down to about $3500. Am I correct in assuming this? What have current first-years seen as their effective tax rates?
depends on your 401K contribution, insurance deductions, etc . . . .
enjoy the only year of your working life that you won't have to pay AMT >.
Don't forget Social Security and local state medical. Plus 401k and insurance as was posted above. There's probably more too.
Don't spend it all before you get it. It sounds like that's what you're trying to do.
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