Pay rise or more holiday dilemma

mrsbarwocle

I have been offered a choice of either a pay rise or additional holiday and am struggling to work out which is best. I work 21 hours and earn £9000 and have been offered a rise to £10374 or instead of the pay rise more holidays.To be honest I would prefer the holiday as I was made redundant last year and am only working to fill a gap for a couple of years till retirement so more holidays are an attractive option at this stage in my life.
But how do I work out how much extra holiday I could have? Is it as simple as saying I currently am paid £173 per week so to make it worth as much as the potential £1374 pay rise I could take 1374 divided by 173 which is 7.9 weeks, does that sound right??
Sorry for the long post but I’m confused....thanks

elsien

If it was a full time job I might go for more holiday but as you're only part time how much difference will it make?
You need to ask them how much holiday they are offering otherwise it's just guesswork.

mrsbarwocle

I can have the full value of the potential pay rise as holiday but just not sure if I’m working it out correctly. It’s only a small firm with 2 employees.
Ps I didn’t say ‘could of’ ??

elsien

If you mean my signature, it's always there as a general comment. not aimed at you.

gettingtheresometime

Who covers your work when you're not there?

zagfles

I would work it out using your new salary, not old salary, as that's what they say you're now worth, and also account for holidays you're getting now (inc bank holidays).
For instance, say you get the minimum 5.6 weeks of holidays now (4 weeks plus bank holidays). A year (on average) is about 52.2 weeks. So you work about 52.2 - 5.6 weeks = 46.6 weeks. So you're "worth" £10374/46.6 = £222.62 per week actually worked.

£9000/222.62 = approx 40.4 weeks.

So you should work 40.4 weeks instead of 46.6, so an extra 6.2 weeks leave.
This isn't necessarily the way the company will work it out, I don't think there's any "correct" way to do it but I'd consider the above fair. You'd need to tweak the calculation if you get more than 5.6 weeks of paid leave.

theoretica

One way of looking at it is that taking the pay rise would put you onto £9.50 an hour. To be paid £9000 at £9.50 an hour you would need to work 18.2 hour weeks with your number of holiday weeks unchanged. Or 18.2/21 = 86.7% of your current working time.



Assuming that you currently get 28 days holiday, you are currently working 46.4 weeks with 5.6 weeks holiday. 86.7% x 46.4 = working 40.2 weeks. So this calculation gives you another 6.2 weeks holiday.

74jax

If you get annual increases, will that be in your salary now, or your new salary (which you don't actually recieved).

mrsbarwocle

Thank you that is a great help, I would probably only take an extra 2 weeks holiday per year at most as 6 weeks more is definitely too much.Looking at the calculation I think I need to negotiate a smaller pay rise with say 2 weeks extra holiday.

getmore4less

What is your current work pattern.

What holiday allowance do you get now?

Are any days fixed or chosen by the company?

Do you ever get overtime or asked to work extra days?

sew109

Will they let you take unpaid leave ? If so the best option may be to take the raise and take the additional leave you want unpaid.