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help, pro rata per annum??

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  • help, pro rata per annum??

    someone please help me.
    i have been offered a job at 30 hrs per week.the letter says this


    ....role is a 30 hour per week role with a proposed starting salary is 19,427 pro rata per annum. You are also entitled to a 6% pension contribution subject to satisfactory completion of a standard three month probationary period...


    how much does this mean i will actually earning after tax,ni etc??

    i am very confused....!

  • #2
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    • #3
      Hi DizzyLizzy21,

      As ShyBoy says, Pro Rata means proportion of a full salary. As your are being employed 30 hours a week, and an average working week is 37, you'll be getting about 81% (although this depends on what your employer counts as a full working week).

      Per Annum means a year.

      Your Income Tax will currently be 20% of your income, although your first £6,475 won't be taxed (assuming this is your only income).

      Your National Insurance is currently roughly 11% of your salary (exact contributions depend on a number of factors).

      If you are a recent graduate and taken out a student loan you'll have that automatically deducted from your salary. Find out more about paying back a student loan.

      Your 6% pension contribution means that 6% of your gross salary can be put into a pension scheme (usually matched by a contribution from your employer).

      (the following is an unchecked calculation, i can't be held responsible if it's wrong!)

      Roughly this means your pro-rata gross salary is £15,751. You'll have to pay £1855 in Income Tax and about £1000 in NI. Which means you'll get about £1070 a month (excluding any pension or student loan contributions).

      All that said, the easiest thing to do is ask your HR / peronnel to tell you what your take-home pay (known as your net salary) will be. They should be able to give you a fairly accurate estimate.

      Hope this helps...


      Olly
      Last edited by Olly_B; 03-08-2009, 05:42 PM.
      "You can not become if you only said what you would have done." So Do-it.

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      • #4
        I have found the following website to be quite useful in working out net pay, and has options for student loan and pension deductions.
        http://listentotaxman.com/

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