Top Ten Jobs w/ Wages (http://www.extremetech.com/article2/0,1558,1920275,00.asp?kc=ETRSS02129TX1K0000532)
Check out the .Net developer doing the math that is $95k gross. Wowzers!!!(http://img486.imageshack.us/img486/6389/jawdrop7rg.gif)
sweet. but what are the others?
CRM Project Manager ???
SAP Functional Consultant ???
http://www11.sap.com/index.epx
and I believe CRM is customer relationship manager.
http://www.cio.com/research/crm/edit/crmabc.html
Quotebluedragon0583 wrote:
Check out the .Net developer doing the math that is $95k gross. Wowzers!!!(http://img486.imageshack.us/img486/6389/jawdrop7rg.gif)
then Uncle Sam comes in and bends you over and it goes from 95k gross to 45k net.
QuoteModernDayDarwin wrote:
then Uncle Sam comes in and bends you over and it goes from 95k gross to 45k net.
The income tax bracket for 95k is 28% which comes out to be:
$68,400 which is still a nice paycheck in my opinion.
(The income tax bracket is for a single person)
I have been looking at the Data Architect (Warehouse Specialist) for about a year now. I was a co-op for Ameren UE in downtown STL this past semester and became good friends with a few of their Data Architects. From what I have heard, there is a big demand for them still, and companies are paying top dollar for good ones (as in 6 figures). If you have taken CS434 and any of it seemed easy or fun to you, look into it.
One thing to remember is the 28% bracket is only 28% tax on the income above the lower bracket, not on all your income. But actually $68400 is not a bad estimate. One interesting thing is that you don't pay any social security tax on earned income over $94200. Plus, you get the standard deduction (unless you itemize).
For anyone interested, here is the breakdown for 2006:
Federal income tax for this range is:
$14,652.50 plus 28% of the amount over 71,950
Standard deduction for single is $5150.
This works out to:
95000 - 5150 = 89850
14652.5 + .28(89850-71950) = $19664.5 in federal tax
If you're not self employed, social security tax is
6.2% on earnings up to $94,200
94200* .062 = $5840.40 in social security tax
and medicare tax is 1.45% on all earnings:
95000 * .0145 = $1377.50 in medicare tax
(if self employed, double the social security and medicare tax)
So the total federal tax burden including social security and medicare is:
19664.5 + 5840.40 + 1377.50 = $26882.40
Illinois state tax is is 3%.
Single filers can claim one exemption for a 1 * $2000 deduction.
95000 - 2000 = $93000
93000 * .03 = $2790 in state tax
So total tax burden is:
$26882.40 + 2790 = $29672.40
Leaving you with:
95000 - 29672.40 = $65327.6
Or, about 31% of your income goes to tax.