Friday, July 20, 2007

My Husband's Paycheck vs. Mine

My husband, C, took our conversation about adjusting our withholdings to heart and printed a copy of his most recent check for me yesterday. After I took a look at it, I realized that we both get exactly the same salary each paycheck, however, one of us gets paid twice a month and the other gets paid once every two weeks. This means one person makes 8% more than the other.

Now I want to compare his paycheck to mine to examine our deductions and find out how close we are to getting the same "take-home" pay after all of our deductions. I suspect that our tax withholdings will be a large part of any difference in our take home amounts.

C and I are both expecting pay raises fairly soon (September/October). After this next salary adjustment, we will see how the salary dynamic changes. I will probably get a larger increase since I am also expecting a promotion, but we you never know. C and I work in different industries for different types of companies and we're at different points in our career.