Wage increase maths

makemerich12

ok, I'm not very good at maths when it comes to tax and n.I deductions etc. Currently, in my job, i earn 11.57 an hour over a 40 workly week. but i have just been offered a job that pays 12.18 an hour but with a Weekly shift allowance bonus is in additional to hourly rate, £32.50. what would i end up taking away weekly compared to my current role?

Saver73

Here is a link to a calculator https://www.thesalarycalculator.co.uk/hourly.php

Also this may help https://www.gov.uk/understanding-your-pay/pay-calculations-if-you-work-shifts-or-get-bonuses

makemerich12

Saver73 said:

Here is a link to a calculator https://www.thesalarycalculator.co.uk/hourly.php

Also this may help https://www.gov.uk/understanding-your-pay/pay-calculations-if-you-work-shifts-or-get-bonuses

don't understand the bonus part,its says normal pay would be  £408.88 a week with tax etc but can't work out how to add the 32.50 weekly bonus to give me a weekly wage?

400ixl

Simplest way I would have thought would be to divide the bonus by the number of worked hours and add it to the hourly rate. It doesn't get taxed any differently as far as I am aware and if the value and hours are consistent then it will work.

makemerich12

400ixl said:

Simplest way I would have thought would be to divide the bonus by the number of worked hours and add it to the hourly rate. It doesn't get taxed any differently as far as I am aware and if the value and hours are consistent then it will work.

i'm awful at maths,if someone would do it for me big love,id be working 6-2 then 2-10

400ixl

from what you have put and working for others to check

40 hours per week at £12.18 an hour with an additional shift allowance of £32.50 would give and additional hourly uplift of £0.81

£12.18 + £0.81 = £12.99 per hour or £519.60 per week before tax and £430.69 after tax when put into the first link above. Currently that same link says you should be taking home £392.06 sop the difference would be £38.63 extra a week.

This is all assuming you will still be working 40 hours per week

mark55man

Here you go - let me know if I have interpreted it wrong.  Without the bonus your new take home would £409 or thereabouts.   Any fractional difference are because of rounding or I'm a hack using excel not a professional HR service

makemerich12

Cheers,Big difference here mind one says £392.06 after tax other says 434.68.I've got the interview monday

dave2319

The £392.06 is what The Salary Calculator website says you take home each week at the moment.

Entering 40 hours a week and changing the hourly rates from 11.57 to 12.18 and 12.99, it gives these amounts for taking home each week:

11.57 = 392.06
12.18 = 408.65
12.99 = 430.69

chrisbur

dave2319 said:

The £392.06 is what The Salary Calculator website says you take home each week at the moment.

Entering 40 hours a week and changing the hourly rates from 11.57 to 12.18 and 12.99, it gives these amounts for taking home each week:

11.57 = 392.06
12.18 = 408.65
12.99 = 430.69

These figures are within a few pence (as near as any tax calculator, apart from the one HMRC provide) gets to PAYE.
A quick rule of thumb to see what you get from a pay increase ( assuming pre and post increase you stay in the 20% tax band is to take 68% of the difference ie 100% less 20% tax and 12% NI.
So gross increase is £56.90 which at 68% is £38.69
£392.06 plus £38.69 is £430.75
If you have student loan/pension you have to adjust for that also.

makemerich12

so if i would get 430.69 if that's with all the tax taken etc would be insane for me,would fully beable to get a house