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I Got A Job
I just got hired as a forensic psychiatrist! As a forensic psychiatrist, my mean salary would be $182,660. -
My First Paycheck
I got my first paycheck today, but it wasn't as much as I thought. This is because "When job listings post a salary or salary range, that figure refers to gross pay. Gross pay is comprised of employee compensation for work performed in the course of the regular duties of a job or assignment." Basically, gross pay is what I get before taxes and bills and whatnot -
Figuring Out My Net Pay
What I got payed is called my net pay, it's "the amount of earned wages that workers actually take home each pay period." This is how much money I make after deductions, which "can be taken for programs or services that you choose to purchase or participate in (such as charitable contributions), or they could be those required by law (such as taxes)." -
Figuring Out How Much I'll Really Make
I need to get a good idea of what I'll actually be making. With income tax alone, which is 28%, I'll be making $131,515.2. This is important to take into account when thinking of investing or taking out a lone, since you can't really avoid this tax. With other expenses like my house, car, and insurance, my gross pay will become farther from my net pay