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23 Jun 21, 01:31 PM |
#1
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Imagineer
Join Date: Aug 13
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How to calculate a pay rise?
As the title says, how can I calculate what an annual pay rise will mean in my monthly pay packet, taking into consideration tax, pension etc etc? I’ve had a £2k annual raise but am guessing this will not mean much monthly?
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2012 - Santa Fe - DLP 2013 - Rosen Inn International Drive 2015 - Caribbean Beach Resort 2018 - Villa in Davenport 2022 - Blue Tree Resort |
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23 Jun 21, 01:34 PM |
#2
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Imagineer
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There’s a website called salary calculator and I usually find that quite accurate
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23 Jun 21, 01:48 PM |
#3
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Imagineer
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Yes I use this all the time when Hubbie gets a rise and I need to find out how much extra I’ve, sorry we’ve got to spend 🙊💰💰
2K a year is about £40 a week minus tax NI & pension contributions Hopefully be about £100 Well done on getting a rise especially in this difficult conditions 🤩😀 |
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23 Jun 21, 01:58 PM |
#4
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Thread Starter
Imagineer
Join Date: Aug 13
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Thanks both, I’ll take a look. £100 will do nicely towards the Florida fund! Thank you, yes very fortunate we’re doing ok. We usually get a raise in November but due to Covid (of course) they waited a little longer to review.
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2012 - Santa Fe - DLP 2013 - Rosen Inn International Drive 2015 - Caribbean Beach Resort 2018 - Villa in Davenport 2022 - Blue Tree Resort |
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23 Jun 21, 02:42 PM |
#5
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Apprentice Imagineer
Join Date: Jun 13
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The amount will vary quite a bit based on current earnings. Eg for someone in min wage, £2k would likely be £2k as no tax or even NI. For someone on £150k plus it’s going to be £1,080 net of tax. For anyone else, it will be somewhere in between. These are the annual figures and ignore pension as depends how much you contribute. Best to use that on-line calculator
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23 Jun 21, 03:04 PM |
#6
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Imagineer
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salary calculator is good. But please consider your pension. If you can afford to not have the £2K payrise put it into a pension as that means you get the full amount without the tax man getting their hands on it. Obviosuly you have to wait for the money but hopefully that will increase in value.
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23 Jun 21, 03:28 PM |
#7
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Thread Starter
Imagineer
Join Date: Aug 13
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__________________
2012 - Santa Fe - DLP 2013 - Rosen Inn International Drive 2015 - Caribbean Beach Resort 2018 - Villa in Davenport 2022 - Blue Tree Resort |
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23 Jun 21, 03:41 PM |
#8
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Imagineer
Join Date: May 10
Location: notts
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take the total, divide by 12, and then take (roughly) a third off for tax/NI
2000 / 12 = 166.66 166.66*0.66 = ~£110 extra a month |
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