nutty
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Post by nutty on Jan 6, 2015 10:44:22 GMT -5
I have an excellent lead for a teller job at a bank just around the corner. I was a teller for a few years but that was 18 yrs ago. How can I find out what they are getting paid nowadays.
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swasat
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Post by swasat on Jan 6, 2015 10:49:59 GMT -5
Go to www.salary.com or www.glassdoor.com . You will be able to search for salaries for a job type by location. It gives you a general idea or a range of salaries to be expected for a certain field at a certain location.
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nutty
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Post by nutty on Jan 6, 2015 10:57:08 GMT -5
I am hoping to get enough to max out the 401k when it becomes available to me.
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swasat
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Post by swasat on Jan 6, 2015 10:58:10 GMT -5
Max out as in put in 18K per annum?
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nutty
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Post by nutty on Jan 6, 2015 11:01:03 GMT -5
Yes.
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Miss Tequila
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Post by Miss Tequila on Jan 6, 2015 11:01:26 GMT -5
I am hoping to get enough to max out the 401k when it becomes available to me. A bank teller is an entry level position.
ETA: A quick google search states that the average bank teller salary is $10.47/hr. Assuming you work 40 hour weeks that doesn't even gross you $22K.
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nutty
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Post by nutty on Jan 6, 2015 11:02:37 GMT -5
I know that, in 1994 it was about $8 an hour, I was hoping it had increased a little.
Looks like it could be anywhere from 10 to 13.
Median 22365
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swasat
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Post by swasat on Jan 6, 2015 11:05:48 GMT -5
Not to be a Debbie Downer.....but nutty, you are aiming high. See this: www.glassdoor.com/Salaries/bank-teller-salary-SRCH_KO0,11.htm The national average for a entry level bank teller (which is most likely you will get since you don't have current experience) is gross $25K. If you wish to max out 401K on that salary it won't leave you much to live on. Many companies also limit the % of your salary you can put in your 401K. For e.g. at my company one cannot exceed 50% contribution from their gross pay into 401K. Assuming you make $25K, that means you are not permitted to put in more than $12.5K/year into 401K. No matter the fed limit is 18K/year.
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ArchietheDragon
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Post by ArchietheDragon on Jan 6, 2015 11:06:09 GMT -5
If she doesn't "need" the income she could be doing what my mom did the last few years of working in which her whole salary was contributed to the 401k and they lived off other income.
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swasat
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Post by swasat on Jan 6, 2015 11:07:52 GMT -5
If she doesn't "need" the income she could be doing what my mom did the last few years of working in which her whole salary was contributed to the 401k and they lived off other income. Well, she is recently divorced and living in an apartment, having been out of workforce for a lot of years. I seriously think she will NEED the income.
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nutty
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Post by nutty on Jan 6, 2015 11:07:57 GMT -5
If I get 22000 will I actually be allowed to put 18k in the 401k ? That leaves 4k, wonder how much a paycheck would be LOL
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swasat
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Post by swasat on Jan 6, 2015 11:09:09 GMT -5
If I get 22000 will I actually be allowed to put 18k in the 401k ? That leaves 4k, wonder how much a paycheck would be LOL Thats the thing....you may not even be allowed to put in 18K. See my response above. Some companies limit the % of your income you can put in 401K.
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nutty
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Post by nutty on Jan 6, 2015 11:09:30 GMT -5
Why am I aiming high, 22365 is what about 11 an hour. I have experience, not sure how much money changes over the years.
What post of mine do you think "I am aiming high" swasat?
I said it looks like 10 to 13 in this area.
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nutty
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Post by nutty on Jan 6, 2015 11:10:11 GMT -5
I will deal with the max the company allows of course and follow it up with a ROTH ira.
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reader79
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Post by reader79 on Jan 6, 2015 11:10:42 GMT -5
My friend is a teller, and has been at the same bank for 10+ years. She makes just over $30K. Her 'raises' every year don't even keep up with inflation.
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ArchietheDragon
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Post by ArchietheDragon on Jan 6, 2015 11:11:47 GMT -5
If I get 22000 will I actually be allowed to put 18k in the 401k ? That leaves 4k, wonder how much a paycheck would be LOL Thats the thing....you may not even be allowed to put in 18K. See my response above. Some companies limit the % of your income you can put in 401K. Most companies do not anymore. Those are old legacy rules that were put in place when the IRS rules about contributions were different. Most plans don't limit anymore.
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swasat
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Post by swasat on Jan 6, 2015 11:12:11 GMT -5
Why am I aiming high, 22365 is what about 11 an hour. I have experience, not sure how much money changes over the years. Aiming high in planning your 401K contribution. Not in the type of job you are looking for. Maxing out 18K/year to 401K is just not feasible on $25K income when you have no other household income.
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justme
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Post by justme on Jan 6, 2015 11:12:43 GMT -5
If your last experience in it ended in 1994 I'd guess a whole, hell of a lot. Way more automation way more technology. Not that you won't be able to do it, I just don't know how much experience from 20 years ago will help with better pay.
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swasat
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Post by swasat on Jan 6, 2015 11:13:49 GMT -5
Thats the thing....you may not even be allowed to put in 18K. See my response above. Some companies limit the % of your income you can put in 401K. Most companies do not anymore. Those are old legacy rules that were put in place when the IRS rules about contributions were different. Most plans don't limit anymore. Mine still does , and my husband's company still does. And we both work for Fortune 15 companies, so really big companies. So yes, its still out there, and still not uncommon.
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nutty
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Post by nutty on Jan 6, 2015 11:14:26 GMT -5
Well I hope I wouldn't still be a teller after 10 years. I know it is entry level, it was my first professional employment when I was 21. I liked it. This branch is open 9-5, 6 on fridays and no sats yet...bonus.
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nutty
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Post by nutty on Jan 6, 2015 11:16:00 GMT -5
If I can I will, if I can't I won't. Will be up to the company but if I am allowed I AM going to do it because aiming high is what I do.
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nutty
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Post by nutty on Jan 6, 2015 11:16:56 GMT -5
My last teller experience was in 94 not my last employment. Hey FL min wage is 8.05, that is 5 cent more than my pay in 94. LOL
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Tiny
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Post by Tiny on Jan 6, 2015 11:20:31 GMT -5
Would there even be 18K to put into a 401(k) on a 25K gross for the year? What about all the payroll taxes and possibly any other deductions? Wouldn't there be atleast 3 to 4K in some sort of taxes?
Would Nutty even have take home pay??
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ArchietheDragon
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Post by ArchietheDragon on Jan 6, 2015 11:20:35 GMT -5
Most companies do not anymore. Those are old legacy rules that were put in place when the IRS rules about contributions were different. Most plans don't limit anymore. Mine still does , and my husband's company still does. And we both work for Fortune 15 companies, so really big companies. So yes, its still out there, and still not uncommon. really big companies are really slow at updating plans!
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Post by The Walk of the Penguin Mich on Jan 6, 2015 11:21:53 GMT -5
Why am I aiming high, 22365 is what about 11 an hour. I have experience, not sure how much money changes over the years. What post of mine do you think "I am aiming high" swasat? I said it looks like 10 to 13 in this area. Money doesn't change, but technology in dealing with it has likely changed considerably.
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nutty
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Post by nutty on Jan 6, 2015 11:22:34 GMT -5
I know right Tiny !!!! LOL that is what I was thinking. I suppose it will have to be tweaked a little so I would actually get a paycheck...but I will do the max I can either for that reason or by company stipulations.
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Deleted
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Post by Deleted on Jan 6, 2015 11:25:49 GMT -5
Just an FYI, if that's you're only taxable income, you might be screwing yourself over putting it all in a 401K.
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justme
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Post by justme on Jan 6, 2015 11:26:32 GMT -5
Most companies do not anymore. Those are old legacy rules that were put in place when the IRS rules about contributions were different. Most plans don't limit anymore. Mine still does , and my husband's company still does. And we both work for Fortune 15 companies, so really big companies. So yes, its still out there, and still not uncommon. The job I just left and the one I'm at both capped it 50 percent.
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nutty
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Post by nutty on Jan 6, 2015 11:27:37 GMT -5
It will not be my only taxable income so I have to consider that in the equation.
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justme
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Post by justme on Jan 6, 2015 11:30:03 GMT -5
On a side note this made me go look at how much I'd have to put aside to max it, and I'm sad to say it's a lot closer than I realized.
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