Trying to do a bit of budgeting and needed some tax advice. I'm going to be a 1st year analyst come July making $60K. What do you take home each week net of taxes? I'm not familiar with NYC or its tax laws so anyone living in the city and making $60K who can advise me would be greatly appreciated.
I think my gross paycheck is $2,308 bi-weekly.
| +365 | Evercore Intern Seizure | 54 | 12h |
| +70 | JPM M&A is Gone??? Purely Coverage Banking??? | 31 | 11h |
| +62 | Is DCM actually underrated ? | 24 | 22h |
| +51 | How do I understand vs. just memorizing? | 8 | 2h |
| +48 | Losing my personality in Banking | 9 | 22h |
| +47 | Are all Tech / TMT groups sweaty? | 38 | 23h |
| +42 | Associate & Above IB exits | 16 | 4d |
| +33 | Incoming IB Analyst: Best Ways to Prepare? | 11 | 2h |
| +27 | Which groups are ideal for laterals? | 12 | 22h |
| +24 | Thoughts on PEI Global Partners? | 4 | 1d |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
I'm in exactly this situation. My take-home is around $1680 bi-weekly after a 4% 401(k) contribution, hefty life and health insurance, and a membership to the gym in the building.
I'm at 2K--but then again, I'm grossly negligent and contribute approx 0% to my 401k.
banks dont give health and dental? what do they charge?
Everyone has to pay at least something for their health insurance, dude. It ain't free; it's subsidized. You end up paying $80-150 a month before taxes for it. The company typically pays more than that to subsidize it for you.
some places pay for it completely... My wife and I get ours free courtesy of a 5b HF
with no deductions; if you contribute to a 401k, health club, etc, this needs to be adjusted.
My health club are the bunker hill steps I climb to work each day and the chasing after managers in the office with pen/paper in hand and the constant jogs to Starbucks... my weight lifts are the rolls of paper I have to lift to feed the printer or the bottles of water I lug to my desk each morning... my abs of steel are from laughing at my own mistakes each day. Hilarious stuff.
I'm also 0% in 401K at the moment... trying to catch up on expenses, paying off debts.
put in enough to get the match, at least.
I think when I was an analyst, I was taking home about 60% of my paycheck after 401k contribs...so you'd be looking at 1,500
Match? What match? My world-class, bulge bracket, top of the league charts bank doesn't even match 401(k) contributions.
Urgh. If I'd known this beforehand, it actually would have made a difference as to where I went.
Here is a link to a net pay calculator. I'm not sure if it's accurate but believe it is.
http://www.yourmoneypage.com/withhold/ny.cgi
Yeah, but even if I start contributing to the 401K in June/July... I'll still max out by year-end and still get the company match. The jist is that I'll have to put in 10% for 6 months vs. 5% for 12 months... something like that.
Non exercitationem autem velit. Voluptatem aut ab tempore. Dolor sequi nesciunt asperiores qui laborum.
Voluptatem inventore explicabo cum quia nulla quis. Iure amet odio nobis quia. Deleniti nulla et reprehenderit tenetur quod architecto et enim.
Id a rerum odit beatae ducimus. Et perspiciatis ex tempora.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...