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  • FIRST POST
    • getmefree
    • By getmefree 14th Mar 18, 11:42 AM
    • 44Posts
    • 7Thanks
    getmefree
    Trying to work out new salary
    • #1
    • 14th Mar 18, 11:42 AM
    Trying to work out new salary 14th Mar 18 at 11:42 AM
    Hi all

    Sorry if this is in the wrong place but i was wondering if someone could help me out with something i'm struggling to work out. I'm considering moving to a new job and trying to establish what my salary will be. There is a car allowance, but all of the salary calculators online don't include a specific field for this and if i just add onto the salary it would include NI and also be pensionable which i don't think is right. Details are below, so grateful if someone could point me in the right direction or give me some help to understand how to work it out.

    Basic salary: 68,000
    Car allowance: 5k per year
    Pension: 6%

    Thanks
Page 1
    • comeandgo
    • By comeandgo 14th Mar 18, 11:51 AM
    • 2,070 Posts
    • 2,817 Thanks
    comeandgo
    • #2
    • 14th Mar 18, 11:51 AM
    • #2
    • 14th Mar 18, 11:51 AM
    Yup, car allowance is taxed, ni'd but probably not included in pension calculation. If you get less than 45p a mile from your employer for first 10,000 miles for work purposes then you can get tax back on the difference.
    • ReadingTim
    • By ReadingTim 14th Mar 18, 12:09 PM
    • 2,738 Posts
    • 3,916 Thanks
    ReadingTim
    • #3
    • 14th Mar 18, 12:09 PM
    • #3
    • 14th Mar 18, 12:09 PM
    • Salary is 68k.
    • Car allowance is taxed, but depends if you're allowed to spend it on anything, or has to be car-related. It also won't be included in the pension amount.
    • Pension is irrelevant at this stage, as you can't spend it. It may also depend on what you put in - is that 6% irrespective of what you contribute, or matched up to 6%?

    Some companies produce 'total reward statements' or calculations where they try and illustrate the financial amount of other benefits to produce a single figure which seems higher than mere salary - you might ask if they can do one for you. Alternatively, ignore the car allowance and calculate from there, adding a couple of grand extra over the year for the car. Given that's only a couple of hundred more a month, it's hardly material - I doubt it will make a significant improvement to your quality of life.
    • getmefree
    • By getmefree 14th Mar 18, 12:47 PM
    • 44 Posts
    • 7 Thanks
    getmefree
    • #4
    • 14th Mar 18, 12:47 PM
    • #4
    • 14th Mar 18, 12:47 PM
    That's really helpful, thank you. The car allowance would have to be spent on a car as i share one with my wife at the moment and would need to drive to my new place of work if i moved. And the 6% is my contribution, which they would match.

    I hadn't thought of the total rewards statement, so that's something i can think about asking for.

    Thanks again
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