Hi there, well the title speaks for itself.. what is the difference between a salary and hourly wage?
My current position will be coming to an end in September (little one goes to school full time) and I have been approached by a lady who will be looking for a full time nanny for her newborn in October. It's really close to home and they seem like a nice family (from what I can tell on messages etc) so would like to definitely give it a go. I'm meeting her next week so I will get more details then but I just wanted some information, if any one can help me. I've only ever been paid an hourly wage so a salary is all new to me and I have no idea how it works. This is the message she sent me yesterday:
Hi, we would be offering full time employment from October. We aren't entitled to tax credits but would like to use salary exchange (for tax relief purposes) Is October too late for you?
If any one can help me and give me a bit of information that would be great! Many thanks
by saying salary exchange does she not mean that they are looking to use childcare vouchers which she will exchange part of her salary for when at work towards paying you as she will get tax relief on those?
I like agreeing an annual salary as it makes it clearer that it is paid all year round not just for actual hours worked. It is the same as multiplying out the hourly rate to over a full year including holiday pay.