Saturday, May 2, 2009

A response to a comment:

The Money Adventure said...
Wow, they must not take very much taxes and whatnot out of your checks for you to make $16.79/hr and take home over $1200/check. I make $19.89/hr and take home $1076/check. I do have 10% going to retirement before take home, the rest is taxes.

I don't have to pay social security taxes... so that's 7% more that I get to keep every paycheck then the average joe. They take 1% for my pension and my employer pays the rest of it.

I also get a "Cafeteria" cash amount for unused benefits. 191.23 every check (except the bonus checks i get 2 times a year) because i budget on 2 paychecks a month and twice a year we get 3 paychecks in 2 months.

If you add the caf cash to the total of my hourly pay, it works out to be 19.20 an hour if you divide by 80 hours a check.

My benefit allotment never changes, but the prices of insurance go up every year so the amount i get in caf cash changes every year, So for now, i make around 19.20 an hour if i include it as part of my hourly compensation.

1 comment:

  1. Nice! The money adventure was me, I changed it.