Holiday Instead of Pay Rise Calculation

The_Force

Hi all
I approached my boss re a pay rise of 3 - 5% (average in the UK past year?). He said that he would prefer to give me more time off that would equate to a similar pay rise.
So, is there a simple calculation that could work this out for me?
Currently I work 4 days per week, 7 hours per day with 23 days holiday per annum, if that helps.
Many thanks.

Grey_Critic

Time off achieves nothing. The idea of a pay rise is to help pay the bills. Holidays are great but they don't.

Tammykitty

Maybe it suits the employee to get more time off?


I took a £5k (14%) pay cut to move to somewhere with more leave and flexi working because it suited me!


There is 261 working days in 2018 so pro rata it is 208 days available for you to work.


Take your salary and divide by 208 - gives you your pay rate per day


Example
Pay - £25k per year - £120 per day


So if you were getting a 3% payrise it would be £750,
£750 is worth 6.25 days leave at current pay rates


There is probably an easier way to calculate this. and more accurate too, as the value of a days leave would change with the 3% increase etc (It would be £124 and not £120) -but this should give you an idea of what a days leave is worth!


Edit - this doesn't include the value of your current leave - as you are actually being paid for 185 days and not 208 days work. Including this it would be £135 per day (so 5.5 days leave for £750)

gettingtheresometime

Are you responsible for ensuring work is covered whilst you're off or does someone else take over?

If it's the former then I don't see the advantage to you - you're doing the same amount of work in less days

hyubh

The_Force wrote: »

I approached my boss re a pay rise of 3 - 5% (average in the UK past year?). He said that he would prefer to give me more time off that would equate to a similar pay rise.
So, is there a simple calculation that could work this out for me?

If you forgo a payrise one year, then clearly, you are effectively forgoing pay in subsequent years as well, as 5% (or whatever) offered in year two will be your current pay x 1.05, not your current pay x 1.05 x 1.05. So, the 'simple calculation' may depend on how long you are expecting to stay in your current position.

getmore4less

Lots of posts that don't answer the question.

The_Force wrote: »

Hi all
I approached my boss re a pay rise of 3 - 5% (average in the UK past year?). He said that he would prefer to give me more time off that would equate to a similar pay rise.
So, is there a simple calculation that could work this out for me?
Currently I work 4 days per week, 7 hours per day with 23 days holiday per annum, if that helps.
Many thanks.

The calculation is relatively simple when you work through it

You work 4 days and get statutory holiday(22.4 rounded up).

What that means is you work 46.4 weeks and get 5.6 weeks(paid) off

To get the equivalent of a 3% rise you need to work 46.4/1.03 or 46.4/1.05 for 5%.

that's work 45.05 weeks or 44.2. or 1.35 weeks or 2.2 weeks extra time off

somewhere between 6-8 days extra holiday would be about right

gettingtheresometime

getmore4less wrote: »

Lots of posts that don't answer the question.

Maybe but if they raise points that the OP may not have thought of then surely that's a good thing?

getmore4less

gettingtheresometime wrote: »

Maybe but if they raise points that the OP may not have thought of then surely that's a good thing?

Only if they are sensible.

Are you responsible for ensuring work is covered whilst you're off or does someone else take over?

If it's the former then I don't see the advantage to you - you're doing the same amount of work in less days

if they can do the same amount of work in less days then they are idle some of the time and the employer could cut their days and pay.

this way they get more days off and the same pay and fill their days a bit more.

gettingtheresometime

getmore4less wrote: »

if they can do the same amount of work in less days then they are idle some of the time and the employer could cut their days and pay.

this way they get more days off and the same pay and fill their days a bit more.

Not what I meant at all.

What I meant is that if the OP is responsible to do x, y & z per week atm then if they're off, when they come back to they have to play catch up because no one else could do / did x y or z in the meantime or do they find x y & z has been done so just carryon as normal.

I had a job where I seriously wondered why I bothered taking time off for this very reason

getmore4less

gettingtheresometime wrote: »

Not what I meant at all.

What I meant is that if the OP is responsible to do x, y & z per week atm then if they're off, when they come back to they have to play catch up because no one else could do / did x y or z in the meantime or do they find x y & z has been done so just carryon as normal.

I had a job where I seriously wondered why I bothered taking time off for this very reason

I know what you meant and you have pretty much confirmed it.

If you could accommodate that work within your normal hours on return all is show is you were coasting when you had not been off.

gettingtheresometime

getmore4less wrote: »

I know what you meant and you have pretty much confirmed it.

If you could accommodate that work within your normal hours on return all is show is you were coasting when you had not been off.

So when I put in extra (unpaid) hours to clear the work that hadn't been done I was coasting it before it?

Did I mention that I would regularly go in early & leave late just so that everything could be issued on time & it was only when I left did management realise what my workload actually was?

As I don't know the circumstances of the OP it may not affect them but if my boss had offered me more holidays rather than give me a pay rise I'd would have told him to stick it rather than deliberate it