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333cdh333 t1_j1ocbb9 wrote

For a single person with no financial responsibilities, yes. That’s a good pay. Make sure you are wise with your money. Invest, save, and spend wisely.

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anonymous_plus_ultra OP t1_j1ocmx7 wrote

Replying to 333cdh333 (#1,064,911)

follow up but i want take home to be 5k a month some calculators say i need 84k or 42$/hr to get that

but my math says i need a tiny bit over 76k

What do you think?

and whats the likelihood ill get that? im probably going to over shoot slightly to contest it but i dont know how much either.

th is an offer i got (kinda want to be above median in jersey but thats also all over the place)

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333cdh333 t1_j1od4ez wrote

Replying to anonymous_plus_ultra (#1,064,952)

A good tool is Smart Asset - NJ. They’ll give you a rough estimate of your take home pay after taxes. Note this doesn’t include health insurance, STD, 401k, etc.

Without knowing your background and career and stuff, there’s no way to tell you whether or not you’re able to reach a higher salary and to what. A job recruiter or other professional may be helpful with that aspect and as far as how to manage your money, you can look into a professional financial advisor as well.

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NaturalWorth939 t1_j1ofnr1 wrote

It is a good salary but unfortunately housing is killing people’s budgets these days. I would say if you can live simple, don’t always get the newest phone or the newest cars. And look hard for reasonable housing (whatever that is these days) you’ll have your bills paid and be able to contribute to 401k, IRA, savings. But truth be told, most people’s problems come from buying things they can’t afford and living above their means. You’re off to a good start it seems.

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ohlardalmighty t1_j1ohhkg wrote

Taxes, sorry to say. The good thing is that you live at home with your parents right now, so you should be able to save quite a bit of money in the meantime.

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Large_Ad_8478 t1_j1ohkh1 wrote

Replying to [deleted] (#1,065,401)

Yea, you're just listening to the negative people at your work and thinking any "positive" talk is fake and bs. Have a mind of your own. Are you happy with your bank account rn? What's YOUR money goal? Quit thinking about what others think about money. Everyone wants more always. Go get it rather than being a part of the ones that complain about it

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anonymous_plus_ultra OP t1_j1ohkzv wrote

Replying to [deleted] (#1,065,505)

according to nj nah ppl here making more than me and lots of grads from my uni working bigger name companies its tough as heck

and i think u can guess which uni in jersey im talking abt

also did the math 73k after taxes is around 4.2-4.6k a month iirc

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simcoecitra t1_j1ohl0v wrote

r/personalfinance

Since you’re also posting about how much money you need to make to afford a BMW, you may want to read through the personal finance information and make sure you’re setting yourself up for success.

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ghost_robot2000 t1_j1ohm5n wrote

Replying to ohlardalmighty (#1,065,443)

Yeah I was going to say, I make 78K and my take home is only $4100 per month, would be more like $4300 but I contribute about $200 to my 401K. That's with no health insurance because I'm on my husband's plan through his job.

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JZstrng t1_j1ohwdl wrote

Replying to [deleted] (#1,065,401)

A) They probably have families to feed. B) They probably have debt (mortgage, car payments, school loans, credit card debt). C) They’re probably trying to keep up with the Joneses and spending money on things they don’t need. D) They just like to complain. E) A combination of one or more of the above.

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ghost_robot2000 t1_j1oi133 wrote

Replying to anonymous_plus_ultra (#1,065,405)

If you're living at home you could. It's not a bad thing to do if you can. I just could never afford to do more than the 6% that you need to get the company match where I work. I moved out right away after college. Even if living at home and saving money was the right move financially, there's no way I could do it for my sanity.

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pleiop t1_j1oiabo wrote

The responses on here are pretty interesting. Money will never be enough, will it?

I guess answers on here will depend on what lifestyle they are use to. 73 is really good imo. You won't starve and you won't have to worry about getting evicted because you didn't make rent. I call that a huge win.

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Academic-Summer-3438 t1_j1oihn6 wrote

If you don't have a lot of debt, its ok. If you want to own a home or even rent on your own (not with a significant other), it's not that great a salary. A comfortable life in NJ is just becoming more and more out of reach for middle class people.

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anonymous_plus_ultra OP t1_j1oixms wrote

Replying to anonymous_plus_ultra (#1,065,574)

@largead if you see this not sure if u got banneed or blcoked but this goes for everyone again my opinion dont kill plz

i believe like my father in hard work and if you stagnate or perform like everyone else well you basically leave it to chance/equal treatment to massive amts of ppl which means more things will affect you basically i need to reach for higher not for greed but to survive against inflation, costs, competition, and retirement

economically that is my sentiment on the matter i know there will be ppl that make more but if i can just work harder to survive without letting my family down and to support them too thats all i need

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anonymous_plus_ultra OP t1_j1oj6o9 wrote

Replying to Academic-Summer-3438 (#1,065,687)

sad thing is i like it here i love being next to nyc and the attractions especially lincoln square imax thanks to alist i go there basically every other weekend for free with my ezpass covered by parents(i dont abuse it btw i drive toll free for work)

this place of an armpit is home and ofc life is uncertain but hopefully i can make it or survive elsewhere before life is extinct from this place due to poverty

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anonymous_plus_ultra OP t1_j1ojlv2 wrote

Replying to pleiop (#1,065,661)

yea me too i just like hearing the thoughts and inouts for the chance that someone may cover ground i have not considered to tread on this comment section is filled with good input imo

especially with new grads and the economy and looming politics money talk is more important than ever especially in deciding if you truly to chance a family or ingrained living here cause if economy colapses in nj well lets just say i think itll be as bad as the empty midwest in america

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anonymous_plus_ultra OP t1_j1ok25b wrote

Replying to Large_Ad_8478 (#1,065,718)

and yep thats exactly what im trying to avoid i want to survive but be paid fairly for what i do cause for all introverts, the lowballed and tricked, my family , and for myself who gave immense effort mentally and emotionally to go throeugh winning not for some shit salary but one that truly exemplifies my lifes work throughout many years

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MealNo6732 t1_j1oqcke wrote

Replying to Academic-Summer-3438 (#1,065,844)

Same. Which is why I'm considering moving out of state. The housing market in NJ has IMPROVED over the past few months, but there are places that are definitely more affordable.

To OP, I didn't see what field you were in, but 73k out of college is pretty good. If your job is something you can do remotely and you want to live on your own, consider moving out of state. Take your NJ salary to somewhere it stretches further.

I get it's tough to leave NJ, but if you haven't yet, travel within the US and explore different cities. You might find that another city/state has more of what you want, but you're just "comfortable" right now.

Change can be nerve-wracking, but sometimes it's the best decision.

EDIT- I wish I was making $73k

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sweetbitter_1005 t1_j1ot6v0 wrote

Maybe I missed a comment explaining what you do, but that would be helpful to understand if 73K is a good starting salary for your particular field / industry. In general, 73K as a single person living at home with your parents is a great salary and you should be able to save money and still have a good amount left over each month for spending. If you decide to move out, I'd suggest a roommate because rents are so high in NJ.

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AsBadAsAWetShit t1_j1owbmh wrote

That’s decent money in NJ. Like others have said, so you got to be smart about your spending. Buy a used car, don’t go out for all your meals, don’t buy stuff you aren’t really going use/don’t need.

Your coworkers are complaining about money because NJ is an expensive state, and they’re likely like the majority of consumers in our country, and buy stuff all the time kinda just for the sake of it. I’m guilty at times too. Just control your spending and keep a budget and you should be fine.

Make sure you start investing though. That’s the smartest thing you could do. Start low, so you don’t overwhelm yourself, and then see how your bank account looks after a couple months. You could always increase your contributions if you can afford to do so.

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Longtermthrowaway5 t1_j1pbtd7 wrote

Well I mean what's your job, how many hours do you work? how stressful or enjoyable is the job. How much is required on average to invest in education to get your job? The answers you are getting on here are answering the question "is $73K a good budget to live off of in NJ?" Nobody is answering "is $73K a good salary for job X?" because we don't know what job X is. They are two different questions. A salary can be extremely adequate for living off of but a shitty salary for the job. Based on the comments, it seems you are seeking the answer to the second question.

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gordonv t1_j1pnajn wrote

Replying to [deleted] (#1,065,640)

> nj ppl have more deeper understanding

Still, r/personalfinance

But if you want some classic old NJ advice, read these books:

  • The Richest Man in Babylon
  • The Prophet
  • How to Win Friends and Influence People
  • Think and Grow Rich
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gordonv t1_j1pnjtr wrote

Replying to [deleted] (#1,065,640)

This idea about haggling for a better price. That's a non effective way to save money. More importantly, this makes you appear and act as a shrewd person. That's damning.

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TheAdamist t1_j1poo12 wrote

Depends where in the state, in hoboken its not going to go as far as somewhere out in farm country.

Its probably not financially smart to get your own apartment, and give up free rent from the parents, but you probably should anyway.

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guacamole579 t1_j1pwrev wrote

You live at home and received an offer of $73k out of college. The median household income in NJ for a family of 4 is $85k. You’ll be fine. You have no dependents, you have no mortgage. Just save as much money as you possibly can so you can afford a place to live without sacrificing too much when it’s time to move out.

As far as knowing if that’s a good salary, it depends on your degree. If you are a pharmacist you are getting hosed. If you graduated with a marketing degree it’s a good starting salary.

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Dur-gro-bol t1_j1q6lsu wrote

I make about 100k/year in the trades. With two kids it's borderline not enough. I always remind myself that I don't see about 50% of it because of taxes(including property taxes). I'm very thankful for my career.

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imMakingA-UnityGame t1_j1qkis0 wrote

Replying to anonymous_plus_ultra (#1,065,493)

Welcome to adulthood, where your only two certainties are death and taxes.

Income Tax is a bitch. Wait until you see the taxes you get hit with for owning a house here.

I personally find it worth paying these extras to be near my family/other benefits of NJ life, but I will say if this is a big issue for you there are multiple states that dont have income tax (federal income tax will still apply but its not as bad)

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imMakingA-UnityGame t1_j1qw78c wrote

Replying to anonymous_plus_ultra (#1,075,027)

Oh for sure. Count yourself lucky, its a salary to be proud of. You can not only survive on it but if you learn to budget well you can thrive on it.

I will also say have you tried asking for more? Its extremely common in the negotiating process.

For example my last job I took offered me 80, I said in, professional terms, I feel based on industry standards, cost of living Rises, and comparing to average salary in my field in my area, etc, that 85 would be a more fair compensation. I started the job at 85.

Might work, might not, but I’ve never heard of an offer being taken away because someone asked for more than the initial offer. Worst case is they just hold their ground and your salary is what they offered.

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RedditorUser99 t1_j1rw1vy wrote

It’s good in South Jersey if you’re single or as a couple. If you have kids, you’ll probably need more.

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Lazuli9 t1_j1sg3ts wrote

That sounds fine, especially living with parents. What part of NJ? I make $50k and live by myself in a $1400/month apartment and am ok financially

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