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What I would like to know is how much is your take home pay when working for a FAANG after taxes and rent. Not including equity. If you make 130k base in TX, y
by diehunde 7y ago
What I would like to know is how much is your take home pay when working for a FAANG after taxes and rent. Not including equity.
If you make 130k base in TX, you see around 8k monthly assuming you put close to 10% in your 401k. For a two bedroom relatively close to Downtown you pay about 2k so that would leave 6k monthly after taxes, rent and 401k savings. What would be the realistic equivalent in a FAANG in the Bay area if you want to maintain that standard of living? Meaning at least a 1000 sq ft apt that's at most 20 mins from work?
- senordevnyc 7y agoI'll use myself as an example. I live in NYC, my rent is $4300 / month (2 bedroom apartment in nice doorman building on Upper West Side), and I just accepted an offer at a public tech company. My first 12 months should pay me $420,000, assuming the stock price is stable. I'll ignore the possibility of any raises, promotions, bonuses, stock price increase, and refreshers. I'll also ignore the 401k match (max is about $5k / year) and the ESPP. I'm married with a kid, so here are my numbers: Gross: $420,000 401k: $19,500 (max for 2020) Taxes: $143,485 (federal, state, local, and FICA) Rent: $51,600 Net: $205,415 I'm already really happy with that number, but my wife has her own income, I have a profitable side business, I'll do a mega backdoor Roth and the ESPP, and I expect refreshers, stock price increase, and a promotion over the next few years. It's a very good time to be a software engineer in a tech hub.
- diehunde 7y agoCongratulations! Can I ask how many years of experience you have ?
- senordevnyc 7y ago12 years of experience, 9 in iOS (what this role is for), all self-employed. More detail littered across comments in my history.