Tim McNamaraDifficult for a job ad to have a red flag in every sentence, but not impossible apparently.
Shine@timClicks Sooo, they pay like 20k€ / month, right? So one can save up for inevitable burnout and therapist expenses.
Inga stands with 🇺🇦 🇵🇸@shine @timClicks the ad says "$80-$120k", and I'd presume this means one is going to be a contractor and pay all the taxes yourself.
So for Germany, this is probably an equivalent of 65-95k€ per year in salary (maybe 57-85k if this US billionaire does not pay for vacations)... which reminds me of that one company, you know which one
So for Germany, this is probably an equivalent of 65-95k€ per year in salary (maybe 57-85k if this US billionaire does not pay for vacations)... which reminds me of that one company, you know which one
child of baphomet@shram86 @shine @timClicks in Germany, too. The difference is that in Germany, social security and health insurance contributions are split in half between the employer and the employed, so a contractor needs to make ~1.2x the salary in order to get the same net income as they would if they were employed with a salary, even if all else (including job security, vacations, etc) is equal.
Joel D@shram86 @IngaLovinde @shine @timClicks in the US if you are single and have no dependents you would pay a 16% effective rate on $120k of wage income. Health insurance premiums should be added to that to compare apples to apples with other developed countries.
@joeld @shram86 @shine @timClicks I'm not comparing between countries though.
The billionaire is looking for Java engineers in Europe, for $80-120k of presumably contractor money (otherwise the sum would be quoted in euros), so I'm comparing it with European salaries. If an engineer in Germany would sign a non-employment contract with said billionaire for $80-120k, that would be roughly equivalent to them signing an employment contract with a local company for 65-95k€ (or 57-85k€ if the quoted amount does not include typical 5-6 weeks of vacation).
This is more on a low side in Germany, and that's not even counting that they won't be protected by labor law.
So this incredible offer sounds like a joke in EU (in Germany at least; i'd imagine in other western European countries too).
I don't know if that's an okay salary in US, or what net income would it imply in US. I don't think it's relevant, because job and seems to be for Europe.
The billionaire is looking for Java engineers in Europe, for $80-120k of presumably contractor money (otherwise the sum would be quoted in euros), so I'm comparing it with European salaries. If an engineer in Germany would sign a non-employment contract with said billionaire for $80-120k, that would be roughly equivalent to them signing an employment contract with a local company for 65-95k€ (or 57-85k€ if the quoted amount does not include typical 5-6 weeks of vacation).
This is more on a low side in Germany, and that's not even counting that they won't be protected by labor law.
So this incredible offer sounds like a joke in EU (in Germany at least; i'd imagine in other western European countries too).
I don't know if that's an okay salary in US, or what net income would it imply in US. I don't think it's relevant, because job and seems to be for Europe.
@IngaLovinde @shram86 @shine @timClicks sure ok. I was more responding to the claim of 40% tax directly above me. FWIW this would be a laughably low offer in the US as well for the position described.
@joeld @shram86 regarding taxes, FWIW, the salary of 60k€/year (more of an entry or medium-level for developers here in Germany, depending on the specific location), would cost the employer around 72k€/year, and would net the worker around 3050-3450€ a month (depending on the bunch of things). That's take-home sum, after statutory health insurance (which covers dependents as well), after social security contributions, after unemployment and accident insurance, after typical 5-6 weeks of vacation per year (legal minimum is 4 weeks), and with typical legal labor protections (of which there aren't much in Germany on non-union jobs, but still there are some: e.g. overwork is somewhat limited, they cannot just fire you unless there is a reason (layoffs can be one) _and_ they warn you in advance, etc).
@IngaLovinde @joeld that's so cool!
@joeld @IngaLovinde @shine @timClicks this is pretty wrong. You aren't including federal income tax or fica/state insurance. Health premiums, 401k, etc (things that should be provided but you need to pay into) are deducted directly from pay, and I feel justified in including that as well.
100k equals about 2500/paycheck. So yeah, your "taxes" are about 40%.
@joeld @IngaLovinde @shine @timClicks
Here is a helpful calculator for my area. https://smartasset.com/taxes/north-carolina-paycheck-calculator#ayTcUv1O5U
It doesn't include options, just end take home pay.
@shram86 @IngaLovinde @shine @timClicks OK. Not going to belabor it because taxes are complicated, but it’s roughly what I make in MN (a higher-tax state than NC) and my paychecks are more than that. Looking at individual paychecks is misleading because they are muddied by withholding calculations, which are necessarily based on incomplete info about your actual total tax liability for the year. It is the total tax liability based on marginal tax brackets that you should be looking at.
@IngaLovinde @timClicks Compared to this, that one company didn't brag to be a billionaire financed product you have to work on overtimes and weekends though 🙃
@shine @timClicks it didn't pay that much though 😅