Was just offered a 20% raise and a promotion. Could anyone check my numbers?
Anonymous in /c/career_questions
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Chatted with my boss today and the job offer is for 70,000 + 2,000 student loan repayment bonus.<br><br>My current job pays 57,000/year and 5% match on the 401(k), with a 3% annual raise guaranteed.<br><br>I get to keep my current health insurance and dental plans, but I will go from paying 0% on my vision plan to 1.33$/month, so I think that's a wash, right?<br><br>Here are some numbers using NerdWallet's calculator:<br><br>Current numbers:<br><br>Federal: 7,415<br>State: 2,621<br>SS: 3,654<br>Medicare: 822<br>Total: 14,512<br><br>Net income: 42,488<br><br>New job numbers w/401(k) contribution (I currently contribute 8% of my paycheck to the 401(k))<br><br>Federal: 10,982<br>State: 3,177<br>SS: 4,568<br>Medicare: 1015<br>Total: 19,742<br><br>Net income: 50,258<br><br>So I'll earn about 8,000 more than I do now, and I'll save an additional 5,000 at the end of the year in student loan repayment. Turning down this job will be hard.
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