I got just under 5%, which is pretty good considering I had only been here about 8 months when I got it.
Originally posted by: jimikim
oh yea and we around 10% bonus.
40% extraordinary income tax on bonuses is no fun either
You can get part of that tax back when you file return, right. I don't think IRS differentiate your regular income and your bonus, at least not in my case. I get a single W2 form.
nakedfrog
No Lifer
- Apr 3, 2001
- 62,929
- 19,164
- 136
Originally posted by: jimikim
oh yea and we around 10% bonus.
40% extraordinary income tax on bonuses is no fun either
No crap. I got the smallest bonus ever from my company this year (integrating with another company so our bonus policy is being adjusted) and wanted to cry when I saw how much the government decided they were entitled to. Is there a good reason it's not just taxed at the regular rate?
BD231
Lifer
- Feb 26, 2001
- 10,568
- 138
- 106
Last year I was making 800.78 dollars base pay every two weeks (after taxes), with the second week check including comission.
Last raise I got got me up to 849.78 base pay, and the commision on each loan I work on (I work at a mortgage company) went from 21 to 25 dollars even. There's rearely a month I close less than 90 loans and I'm ussually hitting the 150 to 180 mark so commision really makes me my cash.
800 to 850 is about 3% right?
Last raise I got got me up to 849.78 base pay, and the commision on each loan I work on (I work at a mortgage company) went from 21 to 25 dollars even. There's rearely a month I close less than 90 loans and I'm ussually hitting the 150 to 180 mark so commision really makes me my cash.
800 to 850 is about 3% right?
Originally posted by: Skoorb
Sh*t man, you can keep your 25% and I'll keep my 40 hours/week
LoL i just need to work my ass off for 5-8 more years and make senior manager so I can quit and get a comfy 40 hour a week job as a Controller or CFO.
How long is peak season, and what's roughly the starting salary?
That could be some serious bank if you can stick it out a few years, unless they start you out with sh|t.
DT4K
Diamond Member
- Jan 21, 2002
- 6,944
- 3
- 81
Some of us have the 65 hour work weeks during crunch times without the 25% salary increase.
Originally posted by: jimikim
oh yea and we around 10% bonus.
40% extraordinary income tax on bonuses is no fun either
Seems like an odd statement from an accountant. Sure, the bonuses get taxed at the supplemental rate when you get your check, but at the end of the year, it all just counts as normal income, so you get part of that back when you file your taxes. At least, that's how my bonuses are taxed.
We have our annual reviews in Jan or Feb and get our raises in like April or May I think. Last 2 years, it's been around 4-5%. Not bad considering the job market for sw devs.
First year after college range (depending on your city) is $45k (Los Angeles) to $55k (San Francisco, New York). "Busy Season" used to be January to May, but now it starts in October. This year we are short staffed so we are expecting 80 hour workweeks starting January. Not to mention Inventory audits at odd hours during the holidays (if you are unlucky).
After 5 years it's about $100k if you make manager.
I'm telling you though, not many people make it. Of the 12 people in my Senior's starting class, only 2 remain after 4 years, not because of lay-offs, but because they go to non-public accounting positions.
Originally posted by: DT4K
Some of us have the 65 hour work weeks during crunch times without the 25% salary increase.
Originally posted by: jimikim
oh yea and we around 10% bonus.
40% extraordinary income tax on bonuses is no fun either
Seems like an odd statement from an accountant. Sure, the bonuses get taxed at the supplemental rate when you get your check, but at the end of the year, it all just counts as normal income, so you get part of that back when you file your taxes. At least, that's how my bonuses are taxed.
We have our annual reviews in Jan or Feb and get our raises in like April or May I think. Last 2 years, it's been around 4-5%. Not bad considering the job market for sw devs.
I am not a tax accountant, and this is my first job after college, so I have yet to file a tax return yet.
DT4K
Diamond Member
- Jan 21, 2002
- 6,944
- 3
- 81
Oh, ok. AFAIK, bonuses are treated just like regular wages. So you will get hit with the 40% or whatever supplemental rate when you get the check, but when you file your taxes, it should just count as regular income so you should get some of that money back.
A friend of mine is an accountant. He started about 4 or 5 years ago in the bay area making about 40k. Now he's making around 100k in the Los Angeles area and hasn't passed the CPA yet. He's not a manager, but he's living with one and just had a kid with her.
Originally posted by: DT4K
Oh, ok. AFAIK, bonuses are treated just like regular wages. So you will get hit with the 40% or whatever supplemental rate when you get the check, but when you file your taxes, it should just count as regular income so you should get some of that money back.
A friend of mine is an accountant. He started about 4 or 5 years ago in the bay area making about 40k. Now he's making around 100k in the Los Angeles area and hasn't passed the CPA yet. He's not a manager, but he's living with one and just had a kid with her.
Wow nice. Do you mind my asking which firm?
I don't find out until next month, but I got 12.5% this year. I don't expect anything close to that this year, but it would be damn welcome.
The last change in pay I had was a $6k paycut. Still working at the same job and haven't seen anything in the way of raises or COLAs in nearly 3 years. If I'm really lucky, I might get a $100 "bonus" on my paycheck this week for Christmas.
~4.03% + a Christmas bonus which (if it's the same as last year) will bump me up to 13% over standard salary. I busted my a$$ all year just to get the same raise everyone else gets. :|
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