5 ms·

$40/hr contract rate means you have to pay your own taxes, healthcare, etc. In reality, that's about $45-$50K/yr job depending on your location.

by aynyc 5y ago

AnIdiotOnTheNet 5y ago
For a single person that's still hardly third world wages. Besides which, third world compensation probably doesn't include health care costs, and median household income is calculated pre-tax anyway.
- aynyc 5y ago
  Why would you compare to the third world? The post was stating US median salary of $50K. I’m comparing that to contract rate.
  - AnIdiotOnTheNet 5y ago
    > At $40/hour - which maybe is adequate for the 3rd world but not for the US. Because the original post compared $40/hr to 3rd world wages. Which is ludicrously out of touch.
    - trashface 5y ago
      It wasn't full time (which I guess I failed to mention). They could only offer 20 hours a week. Also the hourly rate was lower, I don't want to say how much to avoid doxing myself since some people from that company hang on hacker news. You're talking about median income but not expenses. Have you considered rent/housing costs? Health care? Car repair? Basic utility costs? Saving for retirement? Paying off debt? Especially in the light of recent inflation? As one example, my car is 24 years old, its falling apart, but with used car prices right now its pretty daunting to consider replacing it. And my taxes are quite high - mostly SALT stuff, which is pretty regressive. For federal, around that income level you have to be careful not to exceed 400% FPL since you may lose the ACA subsidy and thus owe thousands more. ACA plans are _not_ cheap. Sure I could move to a VLCOL area. If I can rent or find house, in good shape, in a non-blighted area. Not sure if you've ever driven across the middle USA, but it isn't generally the most pleasant place. And if I want to buy I have to get a mortgage, which isn't easy in the US if you are self employed and _especially_ if you have low income. Probably impossible right now actually. Have you ever tried living on even 20 hours a week at $40 per hour, in the US? If not, I encourage you to try, especially now. The US is just not a friendly place for people working hourly on low wage, most people doing this are just struggling, which is why I think my 3rd world comparison is still valid.
      - AnIdiotOnTheNet 5y ago
        > You're talking about median income but not expenses. Have you considered rent/housing costs? Health care? Car repair? Basic utility costs? Saving for retirement? You think the people living on the median household income in the US don't have to worry about these things for some reason?
  - TheCoelacanth 5y ago
    $50k is a bit less than double a median US salary.

$40/hr contract rate means you have to pay your own taxes, healthcare, etc. In reality, that's about $45-$50K/yr job depending on your location.

by aynyc 5y ago

$40/hr contract rate means you have to pay your own taxes, healthcare, etc. In reality, that's about $45-$50K/yr job depending on your location.

AnIdiotOnTheNet 5y ago

For a single person that's still hardly third world wages. Besides which, third world compensation probably doesn't include health care costs, and median household income is calculated pre-tax anyway.

aynyc 5y ago
Why would you compare to the third world? The post was stating US median salary of $50K. I’m comparing that to contract rate.
- AnIdiotOnTheNet 5y ago
  > At $40/hour - which maybe is adequate for the 3rd world but not for the US. Because the original post compared $40/hr to 3rd world wages. Which is ludicrously out of touch.
  - trashface 5y ago
    It wasn't full time (which I guess I failed to mention). They could only offer 20 hours a week. Also the hourly rate was lower, I don't want to say how much to avoid doxing myself since some people from that company hang on hacker news. You're talking about median income but not expenses. Have you considered rent/housing costs? Health care? Car repair? Basic utility costs? Saving for retirement? Paying off debt? Especially in the light of recent inflation? As one example, my car is 24 years old, its falling apart, but with used car prices right now its pretty daunting to consider replacing it. And my taxes are quite high - mostly SALT stuff, which is pretty regressive. For federal, around that income level you have to be careful not to exceed 400% FPL since you may lose the ACA subsidy and thus owe thousands more. ACA plans are _not_ cheap. Sure I could move to a VLCOL area. If I can rent or find house, in good shape, in a non-blighted area. Not sure if you've ever driven across the middle USA, but it isn't generally the most pleasant place. And if I want to buy I have to get a mortgage, which isn't easy in the US if you are self employed and _especially_ if you have low income. Probably impossible right now actually. Have you ever tried living on even 20 hours a week at $40 per hour, in the US? If not, I encourage you to try, especially now. The US is just not a friendly place for people working hourly on low wage, most people doing this are just struggling, which is why I think my 3rd world comparison is still valid.
    - AnIdiotOnTheNet 5y ago
      > You're talking about median income but not expenses. Have you considered rent/housing costs? Health care? Car repair? Basic utility costs? Saving for retirement? You think the people living on the median household income in the US don't have to worry about these things for some reason?
- TheCoelacanth 5y ago
  $50k is a bit less than double a median US salary.