Just accepted an offer for L5 Role with 210k TC. Planning to relocate and rent a house in Seattle suburban. Therefore, I need to know estimate how much is going to be my take home pay check after tax and insurance. Should I just divide 210k by 26 (bi week pay) and use ADP calculator to find it out? I assume they pay a portion of sign on bonus every month and it will be taxed with the same rate that base salary is taxed. Is it true? I have no idea how to take 5% of stock for the first year into account. Moreover, most landlords need 3x rent to give you the key on the signing day (First, last month and security deposit). Do you know when should I expect to get my first pay check and the $2500 relocation cash to cover it?
Amazon pays monthly So divide by 12 Your sign on may be paid lump sum or monthly, depends on their offer
Wrong, biweekly for me. Aws
You get paid on the last weekday of the month, it’s not biweekly. Your assumption about the sign on bonus is correct, but be wary that after 2 years your monthly pay will just be your base salary, and you will vest RSUs every 6 months to make up the rest of your TC. My base is $140k and my take home monthly is ~7600. I max out HSA and 401k contributions.
Tax rate for RSU vesting is also the same?
Yup. It’s taxed like any other income. You have the option to automatically sell some shares when they vest to cover the tax.
First year signing bonus is lump-sum, comes with your first paycheck. Paycheck is once per month, not bi-weekly. Stock vests after 1 year, on 15th of that month. So just divide your base salary by 12, at applicable tax rate using adp calculator. For your take home.
I think for L5+ offers they started doing monthly bonus even in the first year
That is correct and yes it sucks considering huge relocation expenses
In bay area. It is biweekly
Considering Average work performance, should I expect my TC increase in 3rd year? Currently the 3rd year TC on the paper is 10-20k short of 1st year
Don’t expect it to increase
Only if stock price shoots up. Else nope.
Never heard of monthly paychecks. Here in Bay Area paid biweekly like a normal human being.
Me too. I was surprised !
210k is your TC. Put your base salary in paycheck city. The rsus have their own vesting schedule and you should not factor it in when looking at life expenses as stocks can be volatile.
How does bonus amount work, i read somewhere that it is taxed differently at 40% ? Is it true ?
Not true. It’s taxed as income just like salary.
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Google paycheck city. They have a salary calculator that's accurate. . You get paid on the last day of the month.
That's correct. Look around though. Our new landlord let us move in with a 500 deposit. And I'm only a 15 minute train ride from the city.