Anyone know how to pro-rata down your old full time salary to new part time hours?

[Lucy1977]

Hi

I am trying to work out what my new part time salary will be. I used to work Mon-Fri 9-5 so that was 35 hours a week. My new arrangement is 3 days working 21 hours.

Does anyone know how to accurately calculate what my new annual salary would be?

Thanks
Lucy

old yearly salary divide between 35 x 21

so for example if you earnt 10000 per annum it would be

10000 divide 35 = 285.71

285.71 x 21 = £5999 per annum

or, divide by 5 and then multiply by 3 if you don;t have a calculator! you are basically going to be taking home 3/5 of your current salary.

I would calculate number of hours worked per year, and thus calculate hourly pay. For the example given earlier, it gets much the same answer.

Something to consider... when you drop your salary, you don't drop the same amount of tax/ni payments, as those are not calculted on the same basis. Therefore you may find that your take home pay isn't as low as you may expect. It's a bit tricky to explain. Once you have calculated your expected part-time pay, use listentotaxman to calculate likely tax and NI, and thus get a take-home pay figure.

Thanks ladies, thats great. Now I've got a good idea of what my monthly take home will be.

Thanks

You might get extra tax credits too if your income goes down.

because of the way tax works - with the tax free allowance on the first £XXXX etc, you actually TAKE HOME a greater % of your pay the less it is.

Also - up to April after you go back, your tax allowances get spread over the however many months you work. The next year your allowances get spread over 12 months, so take home may drop a bit then.

Hi again

I thought I understood how to calculate my pro-rated salary but I got a small pay rise in February and now when I work out what my annual pay will be it is different depending on which method I use to calculate!
Doing the divide between 35 then times 21 makes it £150 more a year than if I divide by 5 then times 3.

Can anyone help?

Thanks
Lucy

IGNORE ME - I am being stupid!

Thanks