pay rise question

borich_planner · 19 Mar 2011 at 21:55

If you were to get a pay rise of around 1500 and earn less than 40k, after student loan, tax, ni etc. how much roughly would you have extra to take home.

I worked it out at around 90 quid a month?

Deleted member 66701 · 19 Mar 2011 at 21:56

take 41% off - so roughly £885

Work it out for yourself @ http://listentotaxman.com/

daver · 19 Mar 2011 at 21:58

20% tax, 12% NI (from April), 9% student loan.

So about £73-74 a month

borich_planner · 19 Mar 2011 at 22:01

daver said:
20% tax, 12% NI (from April), 9% student loan.

So about £73-74 a month

Add in pension, increase in rent not much of a extra take home!

BennyC · 19 Mar 2011 at 22:09

Higher rate tax threshold is £37,500 odd? So depends how much less than £40k your gross pay is. Not a great deal more take home but it's better than nothing.

Deleted member 66701 · 19 Mar 2011 at 22:10

borich_planner said:
Add in pension, increase in rent not much of a extra take home!

You're still left with 59% of it - I'd take it!

You're not one of these "I don't bother doing over time because they take most of it of me" are you?

eddiemcgarrigle · 19 Mar 2011 at 22:59

Considering I'm on a three year pay freeze, take it and run.

[TW]Fox · 20 Mar 2011 at 00:06

amigafan2003 said:
You're not one of these "I don't bother doing over time because they take most of it of me" are you?

It's pretty easy to see how doing extra work can seem unappealing when the actual cash in pocket from it is far lower than you'd imagine.

KaHn · 20 Mar 2011 at 00:10

[TW]Fox;18707733 said:
It's pretty easy to see how doing extra work can seem unappealing when the actual cash in pocket from it is far lower than you'd imagine.

But what most people don't understand is that staying with the same company will not get you paid well.

Regardless of how wll you perform your job some other company will always pay you more to do less

KaHn

Amleto · 20 Mar 2011 at 00:58

In a similar wage bracket, inc student loan: For every extra £1k/yr, expect £50/month (net) more.

great, eh?

DB_SamX · 20 Mar 2011 at 01:37

KaHn said:
But what most people don't understand is that staying with the same company will not get you paid well.

Regardless of how wll you perform your job some other company will always pay you more to do less

KaHn

In mine, I get the impression that unless you express interest to leave for somewhere else, you don't get pay rises so that you stay (other than the measly annual ones which may or may not even cover inflation). Trouble is not many places recruiting, so harder to get away with threatening to leave for somewhere else.

Pudney · 20 Mar 2011 at 01:43

BennyC said:
Higher rate tax threshold is £37,500 odd? So depends how much less than £40k your gross pay is. Not a great deal more take home but it's better than nothing.

£37,400 (I think) going down to £35,000 from April.

Amleto · 20 Mar 2011 at 01:55

Pudney@work said:
£37,400 (I think) going down to £35,000 from April.

but isnt the personal allowance increasing at the same time?

Pudney · 20 Mar 2011 at 01:56

By £1k. So effectively the band is being reduced by £1,400.

Edit: £1k refers to the PA reduction.

Ev0 · 20 Mar 2011 at 12:06

Amleto said:
but isnt the personal allowance increasing at the same time?

Yup everyone always seems to forget this.

So that take that 37/35k figure and add on the personal tax free allowance (around 7k next year isn't it?) which means you pay 40% tax on anything above 44/42k.

pob9 · 20 Mar 2011 at 12:09

depressing thread. im due a meeting about my pay in the next few weeks

borich_planner · 20 Mar 2011 at 17:23

I work for a Council so I won't argue with any pay increase, but it just feels each year you get a pay rise but inflation is always ahead!.

BennyC · 20 Mar 2011 at 19:37

Pudney@work said:
£37,400 (I think) going down to £35,000 from April.

Amleto said:
but isnt the personal allowance increasing at the same time?

That's one way to have your chips slashed on.

LordSplodge · 20 Mar 2011 at 20:14

amigafan2003 said:
You're not one of these "I don't bother doing over time because they take most of it of me" are you?

Why not. It's all risk vs reward. No point slogging your backside off if all that happens is you pay more tax and simply line the companies pockets.

[TW]Fox;18707733 said:
It's pretty easy to see how doing extra work can seem unappealing when the actual cash in pocket from it is far lower than you'd imagine.

Exactly.

borich_planner · 25 Mar 2011 at 17:39

Work confirmed I will be getting a pay rise of 2518 from April so after tax, pension etci worked it out to be around 150ish extra a month?

pay rise question

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