I desperately need to quit my current job due to an insane boss and just got an offer for a position at the place I interned at. It’s a small non-profit and they can only give me $40,000. I currently make $50,000. I absolutely want to take the new job, but didn’t think such a big pay cut would be possible with my current expenses.
I plugged the numbers into a paycheck calculator and am really confused. It says I should make about $1,300 net semimonthly at the new position, but I currently take home $1,425. This would be a totally manageable drop if accurate. I currently have deductions per check of 8.5% mandatory retirement, $35 parking, and $45 for other benefits (heath/dental/disability/life insurance).
The new position does not mandate retirement (with my current budget I already max my IRA), parking and the health insurance/dental/other is going to be a total of $40 a check.
With a $10k difference in gross pay, does stopping the retirement deduction and the lower taxes really only equal out to a $250 a month difference? I wouldn’t stay at the new job long term (no more than 2 years), so I’m not concerned about pulling back my retirement contributions for now. Thank you.
Submitted September 01, 2018 at 03:25AM by notreallysureanymore https://ift.tt/2C74Vvf
