Reply to Confused by salary discussions--do these rates include benefits, taxes, etc?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Yikes so I need to pay time and a half for anything over 40 hours?[/quote]

Absolutely.

40 hour at $20 is 41,600 a year before your share of taxes
Health insurance $150 a month is 1800, you don't need to tax it
Yearly bonus 1 week $800, legally has to be taxed

Plus gas reimbursement, petty cash, classes for the childern; let's say comes to 2k for the year

You're looking at 46k before taxes. So I'd say easily around 50k after you get tax breaks/credits.

Add another 15k if you want 50 hours a week.

So somewhere between 50-60k a year [/quote]

That's cute.  My first job out of college as an investment banking analyst in NYC paid $49,500.

Gas reimbursement, petty cash and classes for children would never be factored into a "salary" for the nanny -- those are incidentals that are receipt/based reimbursements, and I can't imagine asking my nanny to pay for registration fees for classes anyway.

An annual salary of $46,000, is about $16/hr at 50 hrs (factoring in OT) and more than most Congressional staffers, Federal employees, and non-profit employees make in DC.  
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