Beamer wrote on Mar 1, 2017, 22:33:
On this note, a company reached out to me today to interview for a job in downtown Chicago. They'd increase my salary, and offer a 60% bonus over a 30% bonus. It'd ultimately be a $86,000 raise, though much of that $86,000 would be bonus and taxed somewhere in the vicinity of 50%.
It's downtown Chicago, not even an hour commute, but... Chicago is one of the few cities I know no one. Is $86,000 pre-tax really worth it? I get that, to some, that's a horrifically obnoxious question, but still one I need to ask. Not even like I have the offer, just a first round with HR.
Not sure about Chicago or the state of Illinois but from a Fed level you usually benefit from a good sized refund. My bonuses in California are taxed at a high amount (like 50%). Between my salary and bonuses, I paid something like $12K in taxes and I was still able to get a decent return. I also have a mortgage and pay property taxes so that refund is even higher. One more reason to buy a home. Best long term investment ever!
"The present is a veil between anticipation and horror. Lift the veil... and madness may follow." source