New to Bay Area and realizing “6figure salary” does not mean a thing here..... If one’s TC on employment contract say 120K USD How much would you get each month into your bank account? Approximately? My company HR keeps saying “wait until the first check” could anyone help????
If you contribute to a 401k, it will be even less, like 5500.
About 27-33% tax (federal and state). That’ll put you near 7000$/mo. Then you need to see what % you are contributing to your 401k, employee stock purchase plan. As an example, most folks at Apple will have another 6% pretax and 10% post tax deducted for these two items. Some minor ones that won’t amount to much are health insurance, dental, vision.
There are also social security, health insurance, HSA (if contributing), dental plan, vision plan, other insurances that you sign, ...
Given the high tax rates, I highly recommend FSA if you have any medical expenses.
Rule of thumb. Annual income divide by 20 is roughly what you will actually take home every month.
Did you really ask HR? did they roll their eyes?
Maybe 6500-7k