Which city has highest take home pay?
At face value cities like NYC and London appear to have the highest compensation package but you also seem to be losing c.50% of it to taxes etc.
Would somewhere like Singapore (or any other cities), which which lower compensation but lower taxes have overall a higher take home salary?
Anyone have any insights?
Probably HK - top marginal tax rate of 17% and no capital gain tax. Only thing is housing and owning a car is super expensive, but that's offset with cheaper (and better) food / ubers
That's only true for non-Americans. Americans are taxed federal US taxes abroad, although you save on state/local taxes (~13% if in NYC)
As a junior, Dubai / UAE.
Keeping to US, there is very little way to win - a vast majority of the high income jobs are in high income states. Extremely hard to arbitrage unless working remotely permanently and 100% of the time.Maybe like a top tier doctor or law firm partner in seattle? Idk - and again stupid to optimize for.A 6% difference in state taxes is not worth a 50% cut in pay - the bulk of your taxes are federal income taxes and payroll taxes which don't vary by city/state.What you CAN do: Save and invest as much as you can, so that a higher and higher % of your income y/y is from capital gains which is taxed at 15%.
Doctor for sure, pay is inversely related to supply of doctors in that area. Highly specialized surgeons in rural areas typically get paid 1.5-2X what an NYC surgeon makes.
The other occupation is sales. Typically they are on the road anyway, so they can choose to work in a low cost/tax town while making HCOL salary
Houston? For US atleast
Houston in US
In North America - I know people in HTX rake in cash with the COL and tax rates there
Can only speak for analysts at my bank but the base+bonus are exactly the same across all US offices, maybe slight discounts outside of ny/la/chi, so basically the cheapest relevant city is the answer to your question.
Among the tier 1/2 cities (NYC / LA / SF / CHI), Chicago is the cheapest by a mile. Not even clos.e
Stupid not to include HOU in this.
In US I would say anywhere in Texas but probably Houston/Austin. Large amount of front office tech/finance jobs and very low COL (this is probably more for Houston than Austin). The money goes SO MUCH further.
In US I would say anywhere in Texas but probably Houston/Austin. Large amount of front office tech/finance jobs and very low COL (this is probably more for Houston than Austin). The money goes SO MUCH further.
Agree the $ goes much further in TX, but total comp is nowhere near places like Silicon Valley / SF / NY. You may retain more savings in TX though. Tech pay is mostly seen in Austin and maybe Dallas. Houston is more O&G focused, a lot of old oil wealth.
NOT London. We get so shafted over here
True that, shafted on lower overall pay and higher taxes. When I was there, it was common amongst my circle of friends (many of which were finance guys, lawyers, etc.) to break even every month.
Very tough place to build wealth, very glad I left.
I found Austin and ATL to pay well and 120k+ goes far. They also have plenty of finance jobs.
Houston - I pay no state income tax, have a small COL adjustment on base salary vs ny office but with bonus that isn’t adjusted it’s peanuts, and just bought a fairly large house 10 mins from downtown for 1/3 of what a serviceable apt in Manhattan might cost.
Of course the weather is shit 1/3 of the year, city is prone to flooding, retarded politics… you get what you pay for I guess but overall quite nice
What was the price tag on the house? I really want to buy once but seems like anything inside the loop has absolutely skyrocketed in the past 1-2 years and I really missed out on some easy equity build by starting FT a year too late lol.
I'd say Houston and Chicago are equal if you include car payments/gas/insurance for Houston.
Dallas, Austin and Atlanta was pretty hefty take home.
You can’t escape the federal income tax but Texas has no state tax for example.
I have a second home there and the property tax is insane, so rent and make money.. then leave
US - Dallas / Houston forsure
In Southeast Asia, Vietnam for example, if you work at a regional IB such as BDA Partners or Rothschild & Co, or JPM you be paid about 80K per annum including bonuses as a first year analyst. With an effective tax rate of 33%, you'll be taking home 54K USD after taxes.
Doesnt seem like much? This is a country where GDP per capita is USD 2,800, meaning you''ll making about 19x what an average joe makes.
How can you splurge?
3-bedroom top-tier apt goes from USD 1,500 -> USD 2,000/month
1 bottle of Dom Perignon goes for USD 300 at the hottest nightclub
A ticket for King Massage is USD 100, another USD 100 for tips, you''ll get 3 hours of heavenly nuru massage with 2 top quality girls. Thats something you''ve only seen on P***hub
If you dont drive, rent a Mercedes with a chauffeur will cost you about USD 1,000/month
Thank you for your sharing! But I wonder if the base+bonus applies the same for both foreigners and Vietnamese or not? Thx anyway ^^
There could be differences but insignificant at entry -> mid-manager positions. I'd assume that at higher levels (MD, Partners) the differences are greater.
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