Salary

Reply

  #1  
Old 10-07-16, 02:16 PM
enougher's Avatar
Member
Thread Starter
Join Date: Aug 2012
Posts: 116
Salary

When someone asks you what's your annual salary, is it based off of your "NET" or "GROSS" income? It seems like a straight forward question, and yet I have seen different answers.
 
Sponsored Links
  #2  
Old 10-07-16, 02:28 PM
Member
Join Date: Mar 2006
Location: Wet side of Washington state.
Posts: 18,399
In my opinion gross salary is the one to use for comparisons. Net salary is dependent upon each individual's tax situation, if you asked ten people, all with the same gross salary, there would be ten different net salaries.
 
  #3  
Old 10-07-16, 02:33 PM
Forum Topic Moderator
Join Date: Mar 2005
Location: USA
Posts: 44,034
I have run into a few contractors that like to state that their company's overall income is what they make. I was talking with a carpet guy and couldn't understand why he made so much more than me when he let it slip that also included his help's wages and materials.

I agree that your salary has to do with gross wages and not wages after taxes.
 
  #4  
Old 10-07-16, 02:40 PM
enougher's Avatar
Member
Thread Starter
Join Date: Aug 2012
Posts: 116
Ok, I was also leaning in that direction, that it was your gross income. Thanks!
 
  #5  
Old 10-07-16, 05:37 PM
chandler's Avatar
Banned. Rule And/Or Policy Violation
Join Date: Dec 2005
Location: USA
Posts: 39,968
Yeah, most well run companies will have enough deductions to reduce their gross income down to ideally zero just for tax purposes. Most any application you make will require gross income to make their decisions on.
 
  #6  
Old 10-10-16, 07:35 AM
Group Moderator
Join Date: Oct 2004
Location: WI/MN
Posts: 18,717
Who's asking and why? Generally speaking, I agree that Gross is the number to use. That said, there are situations where the Net number is important, like in creating a budget.
 
Reply

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Thread Tools
Search this Thread
Display Modes