{ "media_type": "text", "post_content": "New to United States - I noticed that my pay checks comprise approx. 64 % of my annual compensation( after 6% 401K and health insurance) . Is that normal or have I messed up something in tax forms?", "post_id": "5b1863073bca9f00136efc28", "reply_count": 24, "vote_count": 6, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

New to United States - I noticed that my pay checks comprise approx. 64 % of my annual compensation( after 6% 401K and health insurance) . Is that normal or have I messed up something in tax forms?

likefunny
Posting as :
works at
You are currently posting as works at

Lol, welcome to America. Land of opportunities, but after Uncle Sam is fed

likefunny

Welcome to the land of the free and Home of the taxed! That sounds about right. Whenever I’m told I’m getting a bonus I multiply it my .6 to guess my take home amount and it’s usually close

likehelpful

Uncle Sam’s not alone. Don’t forget about your friendly health insurer

like

I get 61% so you are doing great 👍😩

like

Lol funny how Americans think we pay high taxes when our effective tax rate is consistently ranked one of the lowest rates in the world. The soundbites on 39% tax and whatnot is just bs book rate that no actually pays. I'm guessing OP is from Latin America or India?

likefunny

B1: What % do you contribute to 401k?

likehelpful

6% like you. I assume your healthcare costs are cheaper and/or your state has a lower income tax

like

BCG1: I saw my pay check - 24 % taxes, 7.6 % FICA- that alone constitutes 32%. How did u manage to get 70% in pay checks after taxes, health insurance and and 401k?

like

A1: I am not complaining- just trying to understand what is getting deducted from my pay check so that I am setting right expectations.

like

lots of taxes, and deductions. but you’ll get used to it and make use any tax advantaged ways like trad 401k, trad IRA, HSA, FSA, 529 Plans, donation etc to effectively lower the total taxes you have

like

I presume you are a manager and below, without an MBA ( salary ranges). It looks accurate.

like

For me net pay / (gross pay - 401k contribution) = 66%

like

I’m talking about my actual year-end trued-up effective tax rate. Your withholding is completely within your control (W4) and may or may not reflect your actual tax situation. Use the IRS online withholding calculator to see how close you’re running to the right number

like

Looks right. Google “ net salary calculator” and log your numbers. Based on your state, there might be non-significant discrepancy but your numbers look right to me. I’m from a country where income taxes are lower than US and I was freaked out how much I was taxed when I saw it for the first time.

like

Other citizens pay higher taxes, but I would argue that they get much more (healthcare, better public transportation, better safety net, etc...). I’m the U.S. we get very little I return relative to what we pay in.

like

That’s not outside the realm of possibility but does sound a bit too much tax. For ref, when I made $100k, I saw about 70% of it. 10% to 401k and 20% on taxes. Now in a much higher bracket, and the taxes are closer to 30%

If you’re on a F1 visa, you shouldn’t be paying Medicare and ssn tax. You can get that deduction removed and you’ll probably be at 70%. Only if you’re on F1/J1

A1 is correct. Go and work in the EU and your actual pay will be below 50%

I am 57% damnit

Our taxes aren’t too bad. Our take home could be higher but Medicare, medicare, and social security make up 60% of our budget.

Related Posts

I really want to work in an office again. I like putting stuff on the walls, talking with people, the serendipity of things. I think it benefits the work. Who else is looking forward?

likefunnyupliftingsmart

Slight vent: I had saved up a bunch of PTO to travel a ton this year (long-term project) which obviously got kicked to the dust and I have a bunch expiring this year because of that. Was looking forward to next year (including a family trip that’s been on the calendar for 2 years), but 3 people just left the team, only 1 will be replaced, and 3 more announced parental leave in spring. I have go lives through February and feel like I’m sprinting a marathon and will never get a break now.

like

Does anyone here in a health system have insurance that covers fertility assistance or get paid parental leave? Really like my position at my hospital but as we start to plan a family - I'm nervous about the cost. Just looking around regionally - it looks like most health systems don't cover this.

Health and Fitness bowl. 702pd

like

Need a vaccine? My friend who is a nurse practitioner at Humboldt Park Health said they have vaccines available daily, no advance appointment needed (tho I would probably call ahead in case this changes)

like

If you take a connecting flight does it count as two segments (MQS) for status acquiring purposes. Can't find answer online

like

Looking for idea driven copy writers, ACD and CD level for health & wellness accounts. Not typical pharma projects, with lots of opportunities to work on meaningful assignments that address diversity and inequities. If you are interested in learning more please drop me a DM. NY based is preferred but open to fully remote too.

When it comes to airlines I go where I'm appreciated thus far JetBlue, Southwest, and Virgin America (now Alaska Air) have been my go to airlines. You couldn't pay me to get on United, Delta or US.

like

When are we supposed to submit reimbursement for health benefits? (Gym, treadmill, etc...)

like

Delta rep told me my plat benefits won't start until next year?.... Doesn't sound right at all

For benchmarking I think it’d be helpful for all on here to see starting comp. (undergrad or MBA) at top consulting firms: Firm: Base salary: Total possible per. bonus: Profit share: 401K:

likesmart

Has anyone experienced American Airlines cracking down on hidden city or skiplagged flights?? AKA making you pay the difference in ticket price for stopping at your destination rather than stopping at your “connection”

like

If my goal is to earn as much as I can (with a grain of salt) but may be moving to other countries in the next 20 years (29F now), what should be my priority to max out? 1. Pre tax 401k 2. Roth IRA 3. HSA 4. Personal stocks 5. Bitcoin

like

Anyone willing to trade United Airlines pluspoints? Looking to buy 160

like

I applied for Chase Reserve credit card but was denied for insufficient credit history (3 years). Any other great travel credit cards I may have a better shot with? Thanks!

like

💳Credit card help💳 Starting a new job in two weeks. The new company does not give a corporate card, so I get to pick my own. If things were normal and I was traveling / spending as usual, getting the CSR or AMEX platinum would make sense. But with things the way they are, what should I do? Work related expenses will be minimal, but Im moving/furnishing an apartment so personal spend will be decent. TIA!

likehelpful

Help! 6.5 hr layover at EWR and it just got extended. Tell me your craziest travel stories!

like

Anyone have luck with Talkspace or online therapy? I signed up for Talkspace, payed, and then was never matched with a Therapist. They refunded me after I reached out but then offered an even bigger discount to give it another shot. My mental health is already strained and idk if I should take a chance with not being matched again. Thanks for any advice and/or help 🐠!

like

Does insurance cover egg freezing? Anyone done this? Tips?

Which alt coins are less than $15 that have a decent market cap and huge potential in the next 1-2 years ? my list: XRP, CVC, ARK, VTC, PRL, POWR, IOT, ADA, XLM, SALT, OMG, MONA. Any crap/missed?

like

Additional Posts

I really want to work in an office again. I like putting stuff on the walls, talking with people, the serendipity of things. I think it benefits the work. Who else is looking forward?

likefunnyupliftingsmart

Anyone see new FY19 utilization metrics? Seems like goals for associates and seniors went down but goals for manager and director went up. What gives?

like

EY second telephone interview for FSO completed last Monday. No feedback yet. Followed up once. How long is too long to loose hope? - asking for a friend not on FB.

like

Currently making 100K in Big 4 Strategy arm (Monitor, Strategy&, K-Strat, Parth) with 2 YOE in high COL city and live at home to save on rent. Is finance analyst at Google for for ~ 120 total comp ok?

like

I’ve gotten an RFE sheet request for my H1-B petition. Does this hamper my chances of getting the visa ? Because my degree is directly related to my role and is also clearly mentioned in the job description. So I’m not sure why I’ve gotten this. Anyone have experience with the same ?

like

Interviews.... I’ve been with Accenture for 10 years and starting to get a few bites outside. Do you still wear suits to a interview or zoom call or is business casual ok? Years ago it was always suits but not sure about 2020. Not an executive role. Thanks and have a great thirsty Thursday!

like

Are we getting tomorrow off? It's officially federal holiday.

funnylike

I have close to 9 years of experience with technology consulting across India and the US with Deloitte US( I was hired at the india offices of Deloitte US). I have been admitted to Ivey business school for 2023 batch. Post MBA, I want to make a move to management consulting as that was one of the biggest driving factor for me to purse an MBA. From my research I gathered that getting into MBB is extremely difficult due to very few openings. What can I do to boost my chances of getting into MBB?

like

Supply chain 🐟 - does anyone give AF about the APICS CSCP certification?

like

Does anyone here know who pays the most in data and analytics roles in London? Big Tech vs MBB vs Big 4 vs Industry

like

Walking out in a few days. 2 quick points that make me take up non consulting role. First - Big project team and I am a late entrant to the team so chances of promo to M next year doesn’t seem possible. Second - 20% hike without moving out of town. Go ?

like

Senior Strategist looking for opportunities in NY. Lmk if you're hiring or know somewhere that is. Full time and project-based are welcome! 🙏

like

The "💯 The Best" under Fishbowl's Explore Topics is eye opening - we've collectively asked about a million questions about best/worst everything.

like

Is it possible to lateral into a specific group at MBB?

like

Lazard PCA: Anybody know what culture and Associate comp is like?

like

Hello, I am actively searching for full-time / continuous contract roles within the Digital or Creative Studio for a creative brand. Anything within Media, Fashion, Entertainment, Art, etc. I am currently freelancing as a Social Coordinator, and I am looking to pivot into Creative Direction, where I can create concepts and initiatives for digital platforms, marketing, and etc. I am based in NYC. Please if you have any openings, or know if any please comment or leave me a message.

like

So, with the whole SCOTUS thing being done. I again ask the questions. Whats the value of keeping the union together? We have a radical fundamentalist minority who contributes little to nothing but get to make choices on behalf and against the wishes of the majority of the country. Whats the value for states like New York, Illinois, and California to remain in an union with states like Kentucky, Missisipi, and Missouri?

likefunny

Slight vent: I had saved up a bunch of PTO to travel a ton this year (long-term project) which obviously got kicked to the dust and I have a bunch expiring this year because of that. Was looking forward to next year (including a family trip that’s been on the calendar for 2 years), but 3 people just left the team, only 1 will be replaced, and 3 more announced parental leave in spring. I have go lives through February and feel like I’m sprinting a marathon and will never get a break now.

like

Does anyone here in a health system have insurance that covers fertility assistance or get paid parental leave? Really like my position at my hospital but as we start to plan a family - I'm nervous about the cost. Just looking around regionally - it looks like most health systems don't cover this.

Health and Fitness bowl. 702pd

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
Download Fishbowl to see what others are saying
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the Fishbowl app

Get realtime notifications and see
what's happening in your industry
from the palm of your hand.

For account settings, visit Fishbowl on Desktop Browser or

General

Legal