Got a $4000 raise and my net pay only goes up $160? Damn..

likefunnysmart
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$4000 / 24 pay periods is $166, so yes that is how the math works. Although I am curious what tax bracket you are in as you should see some taxes withheld? Also unless you maxed out 401k, that should be coming out as well from the $166 per period.

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Ernst & Young LLP™️

likefunny

Someone struggles with math. Wait until your tax kicks in. And then wait until all our taxes shoot up under the next administration. Your $4k pay rise will disappear!

likefunnyupliftingsmarthelpful

McK 1 might be the exception here....

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Wow, so I was expecting more like a $300 increase for the month, but I forgot its just one pay period I'm looking at so for this month it's actually $160x2 = $320

This is why I shouldn't do anything before 7am

likefunnysmart

Pwc1- I may have to agree with you there

funny

Per paycheck? That sounds right

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likefunny

Please tell me you're not on the accounting side.

likefunny

Yeah just rolled off the Wirecard account

likefunnyuplifting

You can transfer that $160 to me if you don’t want it ;)

likefunny

Doesn’t sound right. You should be receiving about $220 extra /mo (post tax) by any tax standards. My guess is you have about 15% of the new income being invested into 401k automatically so you aren’t noticing it in your bank account. But it’s in your investment account!

MATH: 4000/12 = $333. ; .66(333) = $220; 220-160=60; 60/333= [18% to 401k plus benefits]

likefunny

SM1- how do you explain only a 4% tax rate after state and federal taxes are applied? Still seems off to me. I’m holding by my logic. This assumes OP is using the term NET salary correctly. I think after learning it’s biweekly they meant $160 GROSS paycheck

That’s 160x24= 3,840 a year. So you’re paying $160/year in taxes on it. Sounds like a steal...

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This same thing happened with me and I got a $10k raise 🤣 I got an additional $200 net pay increase lol

That’s kind of how annual salary translates into biweekly pay.

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Math bruh.

likefunny

160 a year? Or paycheck?

Did you get promoted?

I’m having a hard time understanding the issue? $4000 is $77 a week. Bi-weekly or bi-monthly paycheck makes that right around $160

The issue was I was thinking paychecks are monthly but they are biweekly

funny

Sorry for your loss(gain). Welcome to salary hike aka peanuts

How’d you get a raise, is that from a promotion?

Math is hard

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