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Hi all, recently in touch by Spotify recruiter for a Sec Engineer position for remote EU and was told that range was 60-80 out of base salary and equity. Had 2 years of security experience out of my 4 years. Was also told that there is no bonus scheme or no sign in bonus 😕 Not sure how I feel about this tbh.
What do you think?
Spotify
I Currently work for an MNC in Kerala, I've 4.4 years of experience in software development. Currently leading a team of 6 developers. Recently I got an offer from Rakuten India, Bengaluru location. As Senior Software Engineer 1, Rakuten offered 13.5L as CTC + 1.4L as joining bonus. My current CTC is 7.2LPA. As per my research on the salary for this role at Rakuten, the offered one is low. 48days of notice period is left What i can expect from Rakuten India for this role?,How can i negotiate?
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Hello! Anyone work at GE Healthcare?
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Bonuses are withheld at the highest tax bracket to account for the possibility of you reaching that bracket with the additional income. At the end of the year when your actual tax rate is computed, you'll get a return for the difference
When a tax post turned into an advanced naval warfare post 😂😎 #scopecreep. Thanks for the tax info though everyone.
Supplemental pay is taxed differently than base pay. Any lump payment is taxed at almost 50%
The tax bracket (percentage) you fall under depends on your income. The government doesn't know how much money you will make this year, so they simply take your bi-weekly paycheck x 26 to "estimate" your income this year. Since this $1,000 bonus makes it seem like you are going to earn $26K more this year (they look at each paycheck individually for tax estimates), it (likely) bumps you into a higher tax bracket. At the end of the year it will all work itself out and you'll get money back from this particular paycheck (although you may owe extra on others).
Example: if your regular paycheck is $4K before taxes, the government multiples that by 26 to estimate your annual incomes to be $104K and taxes that paycheck based on that bracket. When you add a $1K bonus, it makes your paycheck $5K, so the government multiples that by 26 and that estimates to $130K so they tax that paycheck at that bracket.
D1 is right. This is withholding, not tax payment. You get a different W2 for bonuses? Didn't think so. No problem, you'll get it back next April.
Supplemental income is taxed differently when hits your paycheck. However, at the end of the year, there is only one category: income. It all gets lumped together (base + bonuses) and taxed equally (you get refunded for anything extra you paid).
The scope creep comment just about killed me. I literally laughed out loud. Glad we could help!
EY1 is correct. It's a government rule not a company thing.
And our new laser planes, and our rail guns. Low key those are kind of cool but still. Taxes.
Yea I have it crazy. Read an article on how it will completely change naval warfare. Rail gun has ratings of ~140mi and are only like a few thousand a piece compared to cruise missiles that have a range of less than 50 and cost over 100k a piece
And they're trying to develop smart rail gun rounds that function similar to smart artillery and can be directed on flight. Can shoot missiles out of they air...planes too. Essentially makes other navies obsolete
Dude my typos are of the chart today #overDeliver
It should be 33.3 % and yes Uncle Sam has always been greedy in taxing this part of the paycheck aka bonus . Although , I get immense satisfaction in hypothesizing that my dollars were spent in meaningful ways it almost looks like I was robbed at gun point .
Uncle Sam has always been greedy period
Gotta pay for that Zumwalt class destroyer, yo
Taxes aren't necessarily higher. But it's withheld at a higher rate just in case it ends up that way. If the taxes aren't at that higher rate, you'll get it back in your tax refund.
@EY1: Agreed. Watched rail gun videos on YouTube? 🙋 <- is there a male version of this?
How are applause awards taxes?
Ones 500 and under aren't.