if looking at a new job,but 70 miles trip, what minimum £ increase would you consider

Oldernotwiser

You really need to look beyond the short term financial situation and consider whether this is a good career move.

pinkshoes

Just looking at the financial bit, then there's petrol costs, (say 15p/mile) wear and tear on the car and depreciation (say 20p/mile), your own time (£8/hour).

60 extra miles per day = (£0.15 + £0.20)*60 = £21

Extra miles per year = £21 x 5 x 47 = £4935 (assuming 5 weeks holiday)

Then £8 per day for the extra hour travelling, so £8 x 5 * 47 = £1480.

So on the money side, that's an extra £6500 I'd want.

You then have to consider loss of family/personal time, against future potential of job.

All the above is assuming the benefits (pension, holidays, benefits etc...) are the same.

bristol_pilot

I do that sort of commute evreyday anyway, it's no big deal. So I would apply the same criterion as for any job change: 15%.

p1tse

pinkshoes wrote: »

Just looking at the financial bit, then there's petrol costs, (say 15p/mile) wear and tear on the car and depreciation (say 20p/mile), your own time (£8/hour).

60 extra miles per day = (£0.15 + £0.20)*60 = £21

Extra miles per year = £21 x 5 x 47 = £4935 (assuming 5 weeks holiday)

Then £8 per day for the extra hour travelling, so £8 x 5 * 47 = £1480.

So on the money side, that's an extra £6500 I'd want.

You then have to consider loss of family/personal time, against future potential of job.

All the above is assuming the benefits (pension, holidays, benefits etc...) are the same.

interesting. that £4935 has been taxed already so before tax that's going to be quite high and i guess why one member said £9k

p1tse

any other thoughts?