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Just trying to compare here with my European salary.. How much of this do you get to take home, ie. what part of it can you spend on food, clothing, housing etc

Just trying to compare here with my European salary.. How much of this do you get to take home, ie. what part of it can you spend on food, clothing, housing etc. after takes? What about health insurance, is it provided for?

svachalek 13y ago
Social security tax is 7.5%, with an annual cap of $113k (taxed) Medicare tax is 2.9%. Federal tax is very complicated but probably in the range of 20-25% for most people. State taxes vary by state. In California it can end up being a third of your federal tax. You really need to save about 10% for retirement. Health insurance may or may not cost you money. Typically it will cost at least a few $thousand/year. Having talked to a few Europeans about it, my impression is that both the raw salary and the % you keep are quite a bit better in the US, for professional workers, and that most goods cost less. But you are expected to work more hours with less time off and if you get sick or hurt or something really bad happens to your company/town/industry, good luck to you. There are "safety nets" for most of these things but they have a lot of holes in them.
TheCoelacanth 13y ago
It depends on a lot of factors, but most people making that level will probably pay a total of about 30-40% in taxes. Health insurance will almost always be provided at this type of job.
mikegreen 13y ago
Roughly - Expect someone making $100k in the SFO area (high state and taxes compared to many parts of the country) to pay about 20-25% in a few federal taxes, and 8-10% in state taxes. So the take home pay would be around $65k-$72k, before any retirement contributions etc. In the US, healthcare is provided in a professional/fulltime position like these (maybe not the bootcampers). Figure $150-300 a month for healthcare if contractor or not-provided.
- Euro_IT_drone 13y ago
  Okay, thanks for the info. I have health insurance (great nationwide social security, and additional health coverage for me and my partner provided by my employer), a company car (audi a6) with fuel card and make about the same as the CEO, but pay close to 50% in taxes. Still, not that bad at all apparently... (Even though it's hard to compare. Cost of living, vacation days, all make a difference.)

svachalek 13y ago

Social security tax is 7.5%, with an annual cap of $113k (taxed) Medicare tax is 2.9%. Federal tax is very complicated but probably in the range of 20-25% for most people. State taxes vary by state. In California it can end up being a third of your federal tax. You really need to save about 10% for retirement. Health insurance may or may not cost you money. Typically it will cost at least a few $thousand/year. Having talked to a few Europeans about it, my impression is that both the raw salary and the % you keep are quite a bit better in the US, for professional workers, and that most goods cost less. But you are expected to work more hours with less time off and if you get sick or hurt or something really bad happens to your company/town/industry, good luck to you. There are "safety nets" for most of these things but they have a lot of holes in them.

TheCoelacanth 13y ago

It depends on a lot of factors, but most people making that level will probably pay a total of about 30-40% in taxes. Health insurance will almost always be provided at this type of job.

mikegreen 13y ago

Roughly - Expect someone making $100k in the SFO area (high state and taxes compared to many parts of the country) to pay about 20-25% in a few federal taxes, and 8-10% in state taxes. So the take home pay would be around $65k-$72k, before any retirement contributions etc. In the US, healthcare is provided in a professional/fulltime position like these (maybe not the bootcampers). Figure $150-300 a month for healthcare if contractor or not-provided.

Euro_IT_drone 13y ago
Okay, thanks for the info. I have health insurance (great nationwide social security, and additional health coverage for me and my partner provided by my employer), a company car (audi a6) with fuel card and make about the same as the CEO, but pay close to 50% in taxes. Still, not that bad at all apparently... (Even though it's hard to compare. Cost of living, vacation days, all make a difference.)