How much pay jump is needed?

Author
Discussion

Racehorse

Original Poster:

190 posts

12 months

Saturday 11th May
quotequote all
If earning 90k at present and getting 5k net a month, what pay lift would I need to make 6k net (1k more than current package).

I work out it to be salary of 110k to gain extra 1k net a month?

Does this seem correct or have I overestimated.

Any help would be appreciated.

Racehorse

Original Poster:

190 posts

12 months

Saturday 11th May
quotequote all
DanL said:
£125k, assuming an 8% pension contribution and zero tax free allowance.

https://www.thesalarycalculator.co.uk/salary.php
That can't be right. Seems a huge jump to get 1k net extra

5k current net after pension and 12570k tax free allowance

Racehorse

Original Poster:

190 posts

12 months

Sunday 12th May
quotequote all
DanL said:
Racehorse said:
DanL said:
£125k, assuming an 8% pension contribution and zero tax free allowance.

https://www.thesalarycalculator.co.uk/salary.php
That can't be right. Seems a huge jump to get 1k net extra

5k current net after pension and 12570k tax free allowance
You lose your allowance gradually over £100k, and it’s all gone by the time you hit £125k, give or take.

You’d get some back with salary sacrifice for pension, but you’re better off assuming zero allowance as you’re likely to get some sort of bonus that will eliminate it during the tax year. If you don’t go for zero, you’ll be paying extra tax in the following years to cover off the underpayment.

Use the link, put some number in - you’ll find it’s right.

It’s about £110k with no pension contributions, according to the link. Your £90k would be £5,230 with no pension contribution according to the link, or around £5k with a 5% salary sacrifice pension contribution.
Thank you. It is a massive jump to ask for 124k from 90k for a 1k net increase. This is madness of tax system no.


Racehorse

Original Poster:

190 posts

12 months

Sunday 12th May
quotequote all
If earning 90k at present and getting 5k net a month, what pay lift would I need to make 6k net (1k more than current package).

I work out it to be salary of 110k to gain extra 1k net a month but I think this may be wrong due.

Does this seem correct or have I overestimated.

Any help would be appreciated.

Racehorse

Original Poster:

190 posts

12 months

Sunday 12th May
quotequote all
DanL said:
Why did I bother to answer here? biggrin

https://www.pistonheads.com/gassing/topic.asp?h=0&...

Get the job first. Money is a side effect of career progression - don’t think “what do I need to earn to take home X?”, think “how do I progress in my career?”.

The money follows on from that. Yes, take home slows between -100-126k due to losing the tax free allowance. But a 3% pay rise is still a 3k increase at 100k, compared to 900 on 30k. You’re still better off with the same percentage increase, even if you take a smaller percentage of it home.
Thank you, I know you have answered and what you say is fair. Appreciate your help.

The challenge I have at moment is I am already on solid wage and to make next jump need to take extra responsibility so weighing up risk vs reward.

Racehorse

Original Poster:

190 posts

12 months

Sunday 12th May
quotequote all
shtu said:
Just remember kids, before you give away your salary etc,

Super Sonic said:
Op has quite a history of posts like this.
CoolHands said:
It’s all fictitious anyway.
There must be a dozen or s similar threads by the same person, under an assortment of user names. If it's a thread where the magical £100k is mentioned, it's this person. Again.
bks, I have 1 account on this forum. Stop making up false narratives.

Racehorse

Original Poster:

190 posts

12 months

Sunday 12th May
quotequote all
jasonrobertson86 said:
Racehorse said:
Thank you. It is a massive jump to ask for 124k from 90k for a 1k net increase. This is madness of tax system no.
No
Ofcourse it is

Racehorse

Original Poster:

190 posts

12 months

Sunday 12th May
quotequote all
E63eeeeee... said:
Racehorse said:
shtu said:
Just remember kids, before you give away your salary etc,

Super Sonic said:
Op has quite a history of posts like this.
CoolHands said:
It’s all fictitious anyway.
There must be a dozen or s similar threads by the same person, under an assortment of user names. If it's a thread where the magical £100k is mentioned, it's this person. Again.
bks, I have 1 account on this forum. Stop making up false narratives.
Out of your 186 posts, how many of them are on threads about salaries, most of which you started? I'm going to guess it's over 90%. Am I wrong? Bearing in mind this is a car forum, how many are about cars?
Why are you so worried about what I post? If you do not want to answer don't. Who are you exactly to tell me what I can post on?

It is a car forum with other areas of interest.

Racehorse

Original Poster:

190 posts

12 months

Sunday 12th May
quotequote all
E63eeeeee... said:
Racehorse said:
E63eeeeee... said:
Racehorse said:
shtu said:
Just remember kids, before you give away your salary etc,

Super Sonic said:
Op has quite a history of posts like this.
CoolHands said:
It’s all fictitious anyway.
There must be a dozen or s similar threads by the same person, under an assortment of user names. If it's a thread where the magical £100k is mentioned, it's this person. Again.
bks, I have 1 account on this forum. Stop making up false narratives.
Out of your 186 posts, how many of them are on threads about salaries, most of which you started? I'm going to guess it's over 90%. Am I wrong? Bearing in mind this is a car forum, how many are about cars?
Why are you so worried about what I post? If you do not want to answer don't. Who are you exactly to tell me what I can post on?

It is a car forum with other areas of interest.
Nice attempt to duck the question, but I'm not remotely worried about what you post, I was explaining why people respond to you like they do, which you seem to find hard to comprehend. Most forums respond badly to users who start the same thread over and over again. It's tedious. It's not exactly a big deal, but if it becomes pervasive this kind of hobby-horsing can spoil forums.
Why don't you stop commenting if you do not want to help lol

Racehorse

Original Poster:

190 posts

12 months

Sunday 12th May
quotequote all
Countdown said:
Racehorse said:
bks, I have 1 account on this forum. Stop making up false narratives.
As well as being Welshy Are you not also Jason Robertson 666?

I’m easily confused but he started posting as if he was the OP.
Can you prove im welshbeef? No

Racehorse

Original Poster:

190 posts

12 months

Sunday 12th May
quotequote all
Gigamoons said:
Doofus said:
For somebody who claims to be on a 'solid' wage already, you seem surprisingly (and repeatedly) incapable of finding basic information or doing basic calculations without help.
Agreed, our OP does seem to be a bit of a thicko.
Bless.
Lol sour grapes