I have a summer analyst spot for this summer in Houston with one of the larger banks there. I am just curious for budgeting purposes what other people have taken home after the summer is over.
How much did you make overall and what was left after your summer. I know this depends on my specific compensation, but am looking for an overall average of total pay and maybe hours worked.
Just assume a 30% tax rate and go from there.
I've had some other internships, but haven't been able to get a solid average on number of hours worked for SA's in Houston. Tried searching for awhile with little luck.
according to my W2, I made 24,044 before taxes last summer. This is in NYC and my bank paid overtime. I paid approx 5,200 in federal taxes and another 1,400 in SS and Medicare. There isn't any state income tax in Texas, so you dont have to worry about any additional withholding. Hope this helps.
Plan on clocking 85 hours per week average, although it will likely be more. Assume that you will take home 70% of your income. That should be enough info to make a budget.
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