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

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

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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

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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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

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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