Related Posts
I have currently 5.5 LPA having 2 years of experience. How much should be my expected salary?
Deloitte Dell Accenture Infosys KPMG India Newco Tata Consultancy PwC Qualcomm Wipro Wells Fargo Walmart EY EPAM Systems Accenture India Siemens Schneider Electric Genpact Globant HSBC India Hexaware Technologies HCL Technologies HPE JPMorgan Chase Morgan Stanley
KPMG I cleared all the rounds of my interview with KPMG and was asked to provide necessary documents and fill a CAF form a week back and had a HR discussion too. I have requested for about 3Lakhs additional fixed pay since my current CTC has increased and HR said she will get back on this. It's been a week and haven't heard back on the offer letter. How long do you think I should wait. Please wait.
More Posts
Posted 3 hours ago...
Can we make this trade?
Additional Posts in Consulting
Has anyone used Aaptiv to work out? Reviews?
Did the wsj pwc layoff article ever happen
Benchmarks or gtfo
New to Fishbowl?
unlock all discussions on Fishbowl.
Well your policies are all different from firm to firm and your incomes and filing status all vary.
You are choising to pay taxes now versus later. 401k will be taxed on withdrawal while you pay taxes now on the Roth and pay no taxes on withdrawal.
In general, maxing out your 401k if you are able, is a sound move because otherwise you are leaving money on the table. Then max out your contribution to your Roth while you can.
I personally used a Roth to minimize my taxes later on. Given my income I contribute to my traditional IRA then convert what I can into my Roth so I maintain both.
I try to invest in the goal to save obviously but also with a key focus to reduce my effective tax rate and total taxable income. My approach includes real estate, preferred stock, and a focus on dividends.
Everyone is in a different situation with different incomes and priorities given age, loan debt, mortgage debt, credit card debt and cost of living. Some of us have varying levels of risk tolerance and independence restrictions.
Given all that, this just isn't the best place to get financial advice or guidance though because what works for one may be detrimental to another.
Also make sure you understand your tenure and your firm pension plans because they may be generating well over 1k a month for you in retirement, after only a few years working which is a nice compliment. Also know your deductions which can vary by state on things like medical and can reduce your taxable income.
Mid six figures is $500k
BCG?
The financial literacy tone in here is actually pretty worrisome for a lot of business consultants
Yep, I make 80 and am about 50 after 401k and taxes, oh well I like living in a civil society where I don't get robbed and have a hospital I can go to when I get sick.
"Maths" is Indian-english. Not getting into a debate on whether that qualifies as correct.
BCG1... fair enough. But you know what Mgrs get paid, so you know what I mean.
Also, definitely not all states have the state tax
About right. I home about 61% of my salary after taxes in NYC. We should both move to Dubai, which is tax-free
It's 4:22 PST I cannot sleep, BC1
Maybe you are contributing more to 401k?
OP - 50c to a $ up to 6% I believe
The Big 4 don't 401K match... not sure what that means, it's shitty if you think if we considered above industry, most industry jobs match 1:1
I contribute 11% to 401k. All in, my take home is 51.8% of base. Note that later in the year take home increases when FICA taxes get capped out (they are only charged on the first 118k)
#MAGA
@EY Deloitte matches 401k. Just not very much, but we do have a pension
Also, "maths" is not the correct English.
I pocket 52% of my gross - taxes, benefits, pretax stuff (metro card, FSA,) 401k are the reason. Im in NYC and file single
@Principal 1 Do you have any constructive feedback on the financial literacy component or are you going to do the Partner high level comments and go back on mute and let us connect the dots