What % did you take home from your bonus

By now, those who would get a bonus have received the bonus

Starting a thread to discuss taxes - NYC specific

Living in NYC, got a nice bonus, $x00,000.00 (Super excited)!! BUT I just got paid yesterday and the amount I got blew my mind!!!! I got 38%! I was like .... what the heck!

more details: working/living in NYC, single, no dependant, the standard deduction. and didn't do anything related to the tax withholding/W4, or whatever.

38% is just ... doesn't make sense.

Googled, and said 22% flat federal income tax withholding for bonus <$1m (mine is way under),

NYC call it 4% and NYS 6%, call it NYC+NYS = 10%~11%;

401k 5%,

Medicare/Social security: 7.65%

All the above, add up to: 22% Fed + 11% NYS/NYC + 4% 401k+7.65% Med/SS =44.65%, round it up to 45% or even round it further up to 50%, I'm way below taking home half of my bonus!!!

Any comments/suggestings?/or this is how much you guys take home as well!!>

Comments (1)

Feb 19, 2022 - 10:40pm
WSO Monkey Bot, what's your opinion? Comment below:

Vitae in et qui qui fugit consequatur. Consequatur id sunt dolore soluta. Earum non sed et deserunt ipsa est deleniti. Nisi laboriosam perspiciatis cum ipsa facilis quo libero natus. Enim at vel expedita.

Exercitationem quia dolorum consectetur eius necessitatibus tenetur. Quia quis numquam velit dolorem dolor autem officiis. Iusto magnam et quod facilis.

Ipsum veritatis ipsam quam. Nulla consequatur error recusandae eos atque nihil ullam.

Start Discussion

Career Advancement Opportunities

September 2022 Investment Banking

  • Jefferies & Company (▲05) 99.6%
  • Lincoln International (= =) 99.2%
  • Bank of America Merrill Lynch (▲04) 98.8%
  • Financial Technology Partners (+ +) 98.5%
  • Evercore (▽02) 98.1%

Overall Employee Satisfaction

September 2022 Investment Banking

  • Jefferies & Company (▲12) 99.6%
  • Greenhill (▲07) 99.2%
  • Evercore (▲01) 98.8%
  • PJT Partners (▽02) 98.4%
  • Macquarie Group Limited ABN (▲21) 98.1%

Professional Growth Opportunities

September 2022 Investment Banking

  • Jefferies & Company (▲05) 99.6%
  • Lincoln International (▲03) 99.2%
  • PwC Corporate Finance (▲12) 98.8%
  • Bank of America Merrill Lynch (▲05) 98.5%
  • Houlihan Lokey (▲05) 98.1%

Total Avg Compensation

September 2022 Investment Banking

  • Director/MD (10) $613
  • Intern/Summer Analyst (318) $407
  • Vice President (38) $392
  • Associates (209) $257
  • 2nd Year Analyst (130) $163
  • 3rd+ Year Analyst (19) $160
  • 1st Year Analyst (438) $151
  • Intern/Summer Associate (83) $150