IBD analyst income after tax?

Suppose one was to be hired by JP Morgan as an investment banking analyst in New York City.

Judging from posts, an average starting analyst seems to earn about

  • Base: 70k
  • Sign in: 5 - 10k?
  • Bonus: 20 - 30k

(please correct if I'm wrong)

First Year Analyst After-tax Income and Savings

  • Question 1: How much income does one actually earn after taxes?
  • Question 2: After subtracting cost of living (non-luxurious, sharing rent etc.), how much on average does a starting analyst be able to save up in their bank account?

From Certified Hedge Fund Professional @LTV" shares his budget outline:

I'm aiming to save ~40k 1st year.
Income

  • Salary: $70,000
  • Sign-on: $10,000
  • Bonus: $30,000

Taxes/Expenses

  • Tax on Salary: $24,500 (@35%)
  • Tax on bonus: $16,000 (@40%)
  • Rent+Utilities: $18,000 (@$1,500/month)
  • Expenses: $13,000 (@$250/week)

Total Savings: $38,500

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