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by adventured
3007 days ago
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Your premise is correct in regards to the salary. However, you're going to pay a fair bit on that $160k in the US. The US has one of the most progressive income tax policies in the developed world. The median full-time income in the US is about $50,000; at that level, you'll pay a 8.7% (2018) effective federal income tax rate (2018), however FICA (Social Security etc) and state taxes will typically get you for another 12-14% or so. At $160,000 your effective federal income rate jumps to 18.6% (for 2018). This is Federal + State + FICA, on $160,000: Boston: $48,000; Los Angeles & San Francisco: $52,000; Boise, Idaho: $51,000; Seattle: $40,000 (Washington has no state income tax); Miami FL: $40,000; New York: $55,000 Basically you're looking at 25% to 34% total. Your healthcare will also likely be covered by your employer, external to the salary, and obviously we're not counting any stock compensation. |
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