I currently work full-time and have agreed to drop down to 2 days a week (14.5 hours). I've also just got a different job for the remaining 3 days a week. I have used an online calculator to try and work out how much I'll take home each month but I'm not convinced how accurate it is. I'm finding it difficult to get my head around how the tax and student loan payment would work.
Could anyone help me work it out?
Job 1 is going to drop to 14.5 hours, but my full-time wage for 37.5hrs is £27,500. I think the pro-rata pay would be £10,633.
Job 2 is 22.5 hours and I will earn £25,000.
I'm on the standard tax code and my student loan is both Plan 1 and Plan 2 (I did a year then dropped out and returned to uni a few years later). My pension contribution for job 1 is 6.5% but I'm not sure what it will be for job 2.
The calculator I did comes out at £2339 take home for both jobs combined.
Sorry this is quite complicated. Can anyone help, or even reassure me that the online calculators are quite accurate?