I was offered $30k plus free housing for my family of 4 and health insurance. The job requires 45 hours a week. 3 weeks a year vacation.
I would love to be able to afford to open my own store some day but I certainly can not now.
Is this pay in line with the current financial climate?
I'd say that's very good for a running store manager. The housing alone's worth at least 10 grand.
Depends where it is. If it's NYC of SF, congrats, you've landed a job that will impoverish your family.
If it's in Iowa, sounds about right.
The store is in Ohio.
Make it while it's there. Be careful though, I order all of my running gear online. It is a matter of time before brick and mortar stores are obsolete.
You could easily live in San Fran on 30k if you have free housing and health insurance.
I live in a one bedroom apartment 1700 a month and pay 450 a month in health insurance. I am only making 45k a year. Or only 20k after housing and health insurance.
If you don't take it, I will. I have run a store in Michigan for the last decade and I currently make $28,500 a year with no housing or health insurance. I make about $12,000 after I take care of those perks. I enjoy the work but it doesn't pay squat.
bout six-fiddy an hour
$30k/mo or $30k/yr ?
Potential Store Manager wrote:
I was offered $30k plus free housing for my family of 4 and health insurance. The job requires 45 hours a week. 3 weeks a year vacation.
I would love to be able to afford to open my own store some day but I certainly can not now.
Is this pay in line with the current financial climate?
The housing will be taxed as income.
I cannot think of many jobs that include housing--aside from a minister.
Not a chance that store is in Ohio. IF they told you that, then they are full of shit.
As of three years ago, Gene Mitchell--The Running Company owner--was paying at least one of his full-time managers in NJ 37K a year, with benefits, plus "off the books" housing.
Thank you all for the information. Have a pleasant day.
Sounds like a great deal. I would definitly take it.
Bay Area is great wrote:
You could easily live in San Fran on 30k if you have free housing and health insurance.
I live in a one bedroom apartment 1700 a month and pay 450 a month in health insurance. I am only making 45k a year. Or only 20k after housing and health insurance.
Do you pay zero tax? Seems to me post-tax you make about $30k. $2.5k/month. You then spend $2150 a month on housing and insurance.
That leaves a lot of discretionary income, especially if you have a wife and two kids like the OP does.
You also don't live in the Bay Area, because absolutely NOBODY from there refers to the city as San Fran.
I say that as someone who lived there (on more than $30k) for 6 years.
luv2run wrote:
The housing will be taxed as income.
I cannot think of many jobs that include housing--aside from a minister.
Not if the storeowner owns the house and is willing to pay the taxes as part of the deal.
All of the Hansons runners live in housing owned by the bros. Not one of them have had to pay any income tax for their free housing. It is paid by the Hansons
the internet wrote:
Make it while it's there. Be careful though, I order all of my running gear online. It is a matter of time before brick and mortar stores are obsolete.
Yeah, sure. Heard that 10 years ago, and GOOD running stores ("brick and mortar") are doing better than ever!! There will always be demand for a store offering reasonable prices and great hands-on service. The majority of runners still like to see and handle the merchandise.
Housing should be taxed as income for both social security (FICA) purposes and income tax purposes.
The housing is taxed at the lessor of 1. actual cost or 2. fair market rental value. I think there might be another consideration but I can't remember.
It is possible that many people who receive housing are not reporting it. Not sure the IRS has a great way to pick that up.
If the employer is also paying additional money to compensate for the FICA and income tax then the employee would ALSO need to declare that as income.
Mr. Obvious wrote:
It is possible that many people who receive housing are not reporting it. Not sure the IRS has a great way to pick that up.
Are you saying that Hansons-Brooks athletes that are not reporting "free Housing" as income are in violation?