Salaries

Dox

Comms69 wrote: »

I also looked through the OPs prev - literally asking advice about every life decision.

Yes - worrying that so many people take the time to answer seriously!

Exodi

If we take £50,000 basic + a standard benefits package (defined as 5% matched pension contributions, a company car with a taxable value of £5000 and Life/Private healthcare insurances with a taxable value of £500).

You would get monthly deductions from gross pay of £4166.67 as follows
Pension -£182.77
BIK -£458.33
Income Tax -£735.23
NI: -£413.68

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Take Home: £2834.99

From the example above (which is pretty normal for a £50k position), you're only taking home about 2/3rds of your salary.

EDIT:

Dox wrote: »

Yes - worrying that so many people take the time to answer seriously!

Doh, I won't look as I feel it may upset me..

Pennywise

HappyUser wrote: »

If they keep 5% for pension, is that included in the 50k or excluded?

They don't "keep" it at all - it'll be paid into your pension scheme.

steampowered

I would interpret it as £50k base salary plus a benefit package. So the £50k shouldn't include pension, insurance and other benefits.

It would be very odd for an employer to include pension contributions in the salary figure. Normally pension contributions would be described as a benefit.

t0rt0ise

steampowered wrote: »

I would interpret it as £50k base salary plus a benefit package. So the £50k shouldn't include pension, insurance and other benefits.

It would be very odd for an employer to include pension contributions in the salary figure. Normally pension contributions would be described as a benefit.

You may have misunderstood there. The employers contribution won't be included but your own payments will. That's what everyone has been saying.

Masomnia

Dox wrote: »

Yes - worrying that so many people take the time to answer seriously!

OP didn't actually say that they had applied for a job earning that, and in any case other people could search with a similar and query and find the thread.

Dox

Masomnia wrote: »

OP didn't actually say that they had applied for a job earning that, and in any case other people could search with a similar and query and find the thread.

You seriously think other people would need to ask?

General_Grant

steampowered wrote: »

I would interpret it as £50k base salary plus a benefit package. So the £50k shouldn't include pension, insurance and other benefits.

It would be very odd for an employer to include pension contributions in the salary figure. Normally pension contributions would be described as a benefit.

The payment into the pension scheme made by the employer would be a benefit.
Your contributions into that scheme are your investment and come from your income (in this case, your salary).




[Why am I bothering?]

Dox

General_Grant wrote: »

[Why am I bothering?]

You tell us!