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Would you take a job for 70k with No benefits (New Mexico)
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DT4K
Diamond Member
Maybe.
You'll go from 3300 a month to around 5800 a month.
That's an additional 2500 a month.
Certainly wouldn't be more than 500 a month for insurance and 500 a month put into investments to make up for the lack of a pension or 401k.
So you'd still be ahead by 1500 a month.
BUT, you've also gotta look at taxes. You are likely to be in a much higher tax bracket at 70k, so you may lose a good portion of that raise in higher taxes.
You'll go from 3300 a month to around 5800 a month.
That's an additional 2500 a month.
Certainly wouldn't be more than 500 a month for insurance and 500 a month put into investments to make up for the lack of a pension or 401k.
So you'd still be ahead by 1500 a month.
BUT, you've also gotta look at taxes. You are likely to be in a much higher tax bracket at 70k, so you may lose a good portion of that raise in higher taxes.
i thought benefits were required as federal law?
Benefits are an extra 5K-10K costing the company which they use to attract workers since they offering various programs. I suppose if you dont mind contributing a portion of your salary and working in NM then you can take it.
Benefits are an extra 5K-10K costing the company which they use to attract workers since they offering various programs. I suppose if you dont mind contributing a portion of your salary and working in NM then you can take it.
Health insurance will cost anywhere from $75-$300 depending on the plan (HMO, PPO, EPO, etc.). Expect dental to cost $10-$50 a month extra.
Life insurance, assuming you're a nonsmoking male 20-30 years old, is negligible, most likely <$300 a year for $250,000 of coverage.
BrunoPuntzJOnes - How is your company spending $500 / month per employee on health insurance? I'm going to assume they have a 100% paid participating plan...but for that much either most employees have full family coverage or are under a VERY low deductible / low co-pay PPO. Even here in CA where health care costs are phenomenal, it's hard to spend that much.
Life insurance, assuming you're a nonsmoking male 20-30 years old, is negligible, most likely <$300 a year for $250,000 of coverage.
BrunoPuntzJOnes - How is your company spending $500 / month per employee on health insurance? I'm going to assume they have a 100% paid participating plan...but for that much either most employees have full family coverage or are under a VERY low deductible / low co-pay PPO. Even here in CA where health care costs are phenomenal, it's hard to spend that much.
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