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W2 vs 1099 salary in 202


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Hi all,

just curious what people's thoughts on How these offers compare.  All in Northern California.  

1.) W2, $56/hr, 5 weeks vacation including CME ($3500), huge (seriously) 401k contribution without any personal contribution required, HSA ($5,000), no bonus.

2.) W2, $85/hr, with shift differential.  no PTO, 4% match in 401K, full medical w/ HSA, bonus structure not discussed yet.  

3.) $100/hr, 1099.  No bennies, no PTO, and they don't pay licenses and malpractice.  $3/hr year end bonus.

 

 

 

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1. 116,480 (40h/wk) + 11,200 (5wk PTO) + 3,500 (CME) + 17,472 (401k) + 5,000 (HSA) = 153,652

2. 176,800 (40h/wk) + 7,072 (401K) = 183,872

3. 208,000 (40h/wk) + 6,240 (bonus) - 16,068 (payroll tax) - 10,000 (medical insurance) = 188,172

Everything else being equal, 2 or 3 would be your best bet depending on how much health insurance will cost you. Most likely given the high cost of bennies, plus the probable bonus and shift differential, 2 would be the way to go.

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