Originally Posted by algebrapro18
I had an interview yesterday that went very well and I am pretty sure I am going to get the job but it only offers $3/hour + tips. Its a restaurant that doesn't really fit economically in the area its in. Prices average from about 6-23 dollars per serving and its in a farming community so people don't have that kind of money to spend on food. Which means service is going to be very slow which means I won't be getting much in tips so I will be making pretty much $3/hour. Thats about 90 dollars a week(dad probably won't let me work 30 hours a week but thats what i want to try) with out taxes factored in. I need a job to build references and a resume but...I need more money than that. So I will be pulling in 180 dollars per paycheck with out taxes and social security. so maybe about 100-120 every paycheck. But in that two weeks I will spend $128 dollars in gas, if I only drive to work and back and go no where else. So if I get this job I won't even be able to cover the cost of gas, not that I need to worry about it dad pays for my gas but he might start wanting to get reimbursed now that i have a job.
So should I take the job?
Algebrapro - I did the math.
If you work 30 hours/week @$3/hour for 2 weeks is $180.00.
At 60 hours per 2 weeks (high estimate for hours) and you average 1 table per hour than you have 60 checks biweekly. If the average tab is $15.00, then a 15% tip per check is $2.25. Times 60 checks is $135.00. That is high for tips given your description but you may have underestimated your calculation.
You have to pay FICA and Medicare and probably Unemployment and disability. But even if they were 50% of gross, you would still net around $100.00.
I think that if you claim $0 withholding from federal and state you won't have taxes withheld and your employer does not have to file any other paperwork because you earn less than $200.00 per weekly pay period. Don't quote me on that! I am not a tax professional. I just looked the figures up on the net.
So, the decision may depend on the tips you get and the hours you work and the tax situation. The more hours you work in a given day and the less you have to drive the better the gas situation. Also, can you bike to work? Can you carpool? Can you take mass transit?
Having said all that, I waited tables to help put myself through undergrad and grad schools. You really have to have the personality to do this job. The more personality you have the better the tips. I have a great personality.
What about getting a job at your college? Can you tutor math? Can you work in computer operations? How about the library or the cafeteria? If you work at the college and it is part of a work study program you are exempt from FICA. If you are already using gas to get there, it won't cost any more.
Not an algebrapro, just have my MBA from U of M.