this post was submitted on 30 Jan 2024
843 points (98.2% liked)
Technology
59424 readers
3168 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Sign me up if you're paying $300k+
lmao, 60k eur tops. wages in Germany suck ass, earning at least something is possible if you are running independent consulting or climbing corporate ladder, having some unique expertise or going extra mile as an employee is pretty much pointless.
How much of that 60k is left after taxes? Is it enough to live on, or buy a home, or buy a home and support a family, or none of the above?
EDIT: Thanks for the responses everyone, very informative and interesting. That's the kind of perspective that may not often be shared and helps understand costs of living.
For the Deutchlanders wondering about the USA's taxes and my question.... 60k would be enough to live on in most of the USA but might not be enough to buy a home or raise a family. But it's highly dependent on your area's cost of living, and the USA is massive with many different areas and tiers of costs of living.
My example for tax costs: I make more than 60k and I only had to pay about 20% of it to taxes and retirement for 2023, in the USA. In my low cost of living area, 60k would be enough to buy a house and support a family but it would have to be on a very frugal budget. I bought my house when I was making about 45k but my spouse also had an income of almost that much.
Assuming single with no kids, you'd get:
Gross 60.000,00 €
Net 37.209,78 €
Taxes 11.262,97 € (includes 929,97 € church-tax that you can get rid off by leaving your church)
Pension insurance 5.580,00 €
Unemployment insurance 780,00 €
Health insurance 4.847,85 €
Long-term care insurance 1.249,37 €
Those are all the compulsory insurances.
Having a partner in marriage who earns less than you and / or children will increase your net.
For the average German in your average City that's somewhere between just short of wealthy and wealthy. There are poorly paid IT specialists who earn gross what you would take home net. It's definitely enough that you can live quite good if your significant other works too and more than enough to raise a family. The median household income in Germany is 42k gross.
Also remember this is only the employee side of what you cost your employer, because they'll have to double up your insurances, so you would cost them 75k a year.
Those numbers look similar to US taxes, etc (though not the same, and some of US ones aren't compulsory)