How does your gross pay? Compare to your net pay?

[Anonymous]

Anonymous wrote:

Anonymous wrote:$100k per month
$50k approx. easy math.

I wasn’t looking for the math, I was wondering how gross vs. net compares to others. The subject line got screwy.

It's pretty much a meaningless comparison - w4 withholding, 401k, FSA, HSA, insurance, federal and state taxes, yada, yada yada. Everything is what it is and the taxes wash out when you file them so it's all completely going to be different and I'm not sure what useful information can be gleaned by comparing.

[Anonymous]

1/3 of my salary is 401k max contribution, deferred compensation, family insurance, and dependent and health care account. I My DH high salary bumps our HHI into a high tax bracket so with this and taxes, my net is about 30% of my gross. The later months in the year after everything maxes out. It goes up to about 50%

[Anonymous]

We front load our 401ks so I make like 220k base and spend the first few months making $0.

[Anonymous]

Anonymous wrote:1/3 of my salary is 401k max contribution, deferred compensation, family insurance, and dependent and health care account. I My DH high salary bumps our HHI into a high tax bracket so with this and taxes, my net is about 30% of my gross. The later months in the year after everything maxes out. It goes up to about 50%

That’s depressing but you must be in good shape for retirement.

[Anonymous]

Gross 109k
Net 63K

Net is post health insurance payment and pension contribution. I work for an international organization.

[Anonymous]

About half my gross pay is withheld for insurance, retirement, and taxes, but I get extra taken out on purpose to cover non-wage income from interest and side hustles. I could probably get less taken out, especially now that I can't use the larger refund to buy more ibonds...may adjust after doing taxes next month.

[Anonymous]

We typically net 60% of our gross pay.

[Anonymous]

52 percent of gross pay here including 401K with catch-up payments and an HSA. They just cut our company match by almost half so feel like I should do a mega back door Roth to make up for that but might be too tight.

[Anonymous]

Federal employee so literally 43% of my income comes as net. Sucks.

[Anonymous]

My net is about 47% of my gross. I'm a fed and I'm maxing out my TSP and HSA contributions (including catch-up contributions). The deductions work out like this:

Taxes: 28.5%
Insurance: 1.4%
Retirement: 23% (including 4.4% for FERS)

So, really, it's just ~30% of my gross pay that's "gone forever." The other 70% is either paid now or socked away for later.

[Anonymous]

Anonymous wrote:Federal employee so literally 43% of my income comes as net. Sucks.

What does being a federal employee have to do with it?

I am a fed too and my net is 55% of my gross.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Federal employee so literally 43% of my income comes as net. Sucks.

What does being a federal employee have to do with it?

I am a fed too and my net is 55% of my gross.

You should save more for retirement.

[Anonymous]

In the last statement of the year, net is 60% of gross, but in the beginning of the year it changes due to resetting the clock on Social Security and 401K, which max out earlier in the year (including catchup).

About 5% of withholding is benefits (health, dental etc.), the rest taxes. But that does not account for a bonus that can be about 1/3 of annual gross or stock which can be another 1/3, both of which have tax implications not reflected pay check to pay check. Annual effective tax rate is typically between 28 and 29%.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Federal employee so literally 43% of my income comes as net. Sucks.

What does being a federal employee have to do with it?

I am a fed too and my net is 55% of my gross.

You should save more for retirement.

I max out everything (401K, back door Roth IRA, HSA and H does a mega backdoor Roth), but thanks.

But again, what does being a federal employee have to do with it?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Federal employee so literally 43% of my income comes as net. Sucks.

What does being a federal employee have to do with it?

I am a fed too and my net is 55% of my gross.

You should save more for retirement.

I max out everything (401K, back door Roth IRA, HSA and H does a mega backdoor Roth), but thanks.

But again, what does being a federal employee have to do with it?

Probably pension contribution of almost 5%