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DPChallenge Forums >> General Discussion >> What do they mean by salary?
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 07/08/2007 10:50:51 PM · #1
Im not from the states so i dont know what people mean or ads say when they say something like "I make 100.000$ a year" or "this job salary is 80.000$". Is that before any taxes etc?
If it is that, is there a general % you can deduct to figure it out? ( I know it varies by income and where you live)
 07/08/2007 10:53:10 PM · #2
Income in ads is before taxes.

Net income depends on way too many things and is quite variable depending on the person and their location.

To be able to compare salaries for different ads you may need to do some research on taxes for the location of the job.

Now it will get fun if you work in one state but live in another. I don't know how it works in the states but in Canada, personal taxes are applied based on where you live, not where you work.

Message edited by author 2007-07-08 22:56:18.
 07/08/2007 10:53:18 PM · #3
if it is gross, plan on paying out a third for taxes at least
 07/08/2007 10:57:43 PM · #4
Salary generally means what someone makes in dollars for a year. It does not include "benefits" which may include health insurance or retirement savings among other things.

Yes, it's before taxes. Federal Income Tax paid depends on many things including, for example, if you have children living at home. Some States also have State Income Tax...some don't. (Someone else can definitely help you more than I can.)

To get a general idea about how much people make in a particular area of the US and how much they spend on houses or apartments... I like looking here //www.bestplaces.net/
 07/08/2007 11:00:19 PM · #5
thanks.
Im guessing that in both cases if it was net, they would probly say net. This way it sounds better than it is.

Im thinking of taking a job in new york, and i thought it would be easy to find info on the cost of living but its pages and pages of the mercer list and of comparisons to other US states, which really dont mean much to me.
07/08/2007 11:04:19 PM · #6
The term salary is used as opposed to "hourly". Salaried employees get $x per year. Typically it is paid out bi-weekly. Salaried employees generally do not have to punch a time clock - they can come in late, sneak out early and still get paid the same. :)

Unfortunately for the self-employed (like myself), the sneaking in & out is very hard to do without getting caught. I wrote myself up twice last month.

edit: it is always advertised as gross, not net because tax rates are all different.

Message edited by author 2007-07-08 23:04:55.
 07/08/2007 11:05:01 PM · #7
Well as long as you don't live in the city cost of living probably isn't too bad. Stay in New York State.

Then again depends on what your doing, how much you make and what your willing to live with.
 07/08/2007 11:05:12 PM · #8
Salary is a way of saying all those extra hours are your charity to the company :-( Sorry, I was a contractor for too long and having recently swapped to salary, forgot some of the catches :-)
 07/08/2007 11:06:34 PM · #9
Originally posted by robs:
Salary is a way of saying all those extra hours are your charity to the company :-( Sorry, I was a contractor for too long and having recently swapped to salary, forgot some of the catches :-)

Oh yeah, there's that too. :)
 07/08/2007 11:07:06 PM · #10
Self employed, thats the best imo. Very stressful, but at least its stress you create and not transfered down from someone else.

I often think I made a mistake by telling my dad no when he asked me if i wanted to continue his business, just before he closed it down and retired
 07/08/2007 11:10:16 PM · #11
Originally posted by kolasi:
Self employed, thats the best imo. Very stressful, but at least its stress you create and not transfered down from someone else.

Very well stated - I concur.
 07/08/2007 11:19:38 PM · #12
Originally posted by Art Roflmao:
Originally posted by kolasi:
Self employed, thats the best imo. Very stressful, but at least its stress you create and not transfered down from someone else.

Very well stated - I concur.


Don't know if I would agree with that premise... I have seen and known a horde of people who would bring their stress home, with the ensuing results that the family felt the brunt of that stress.

Stress requires an outlet and one has to seriously consider the impact it has on others.

Ray
 07/08/2007 11:24:10 PM · #13
Well what you just said doesnt not disagree with what was said. Its said that the stress is not brought down from someone else. As int he Employed or Self Employed's own personal stress doesnt come from a boss or a coworker.

Family stress occurs wether or not your self employed its impact on the family or the amount has nothing todo with what was said. However it is its own issue!
 07/08/2007 11:31:14 PM · #14
:O)


Message edited by author 2007-07-08 23:34:09.
 07/08/2007 11:36:20 PM · #15
Originally posted by RayEthier:
:O)


My mother was self employed, and worse i worked for her for a time. Helped set up Baltimore operations while she was off in washington state. I cant say that it was any worse then the stress brought home by my father.

I manage to leave my stress at work, then again i have no one to bring it home to.... that and I let the hell out at work. WHen I was living with my best friend and she was unemployed, then there was alot of stress when money becomes an issue alot of fights happen.
 07/08/2007 11:51:17 PM · #16
I think both types of employment have their own pros/cons. In many job situations where you are an employee working for someone else, you do your job from 9-5 and get to come home and relax (yes I know there are many exceptions), but I would venture to say nearly all successful self-employment jobs start before 9 and end well after 5. You also have the satisfaction of not having to take someone else's crap when you are self-employed.

I don't have much experience from either end, but I have signed on for a three year job with great benefits and salary as well as an opportunity to travel, but I literally can't quit unless I flee the country (so I better like it). But shortly after those three years are up I should join the ranks of small businessmen everywhere.
 07/09/2007 12:41:06 AM · #17
My wife and I are self employed. The taxes are higher, the hours are longer, but the heaviest burden is that you are responsible for others well being. We have several employees and not being able to offer health insurance to our employees is hard for us.

It is hard to leave your job at work when you are self employed, vacations are very very rare.

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