Comparing 2 Salaries and Benefits

[Theonlyoneiknow]

Hi,

I have done a Google search but can only find a comparison for 2 salaries rather than taking into account the overall picture ie/ working hours, pension (both personal and employer), private medical, commute, sick pay etc.

Does anyone know of one that I could use before I succumb to a spreadsheet and calculator?

Thanks in advance :)

Glassdoor

Thanks! I checked them out but couldn't see how to compare salaries and TCs to see if taking a paycut was worthwhile or not

Spreadsheet with 2 columns is easiest. Just list them side by side

Salary
Contractual Working Hours
Bonus
Employer contribution to your pension
Annual Leave

Convert annual leave to an amount by calculating pay per day (if your fulltime divide your salary by 260). Divide the total by Contractual working hours times 52 weeks to get your hourly rate of pay.

You can compare other things too but its harder to value them

Sick pay
Maternity benefits
Life insurance

Why do you need a calculator if you've got a spreadsheet? It will add them up for you.

^ this, but you just need a few lines:

• salary
• car/other allowances
• pension contribution
• bonus
• anything else

Re hours: take with a pinch of salt unless people actually work contracted hours in your industry

Medical/dental: have value if you will use, also sick pay, maternity etc but if not relevant leave out of the equation

I’d also factor in commuting time & cost

Include tax as a debit line. Private medical can be a benefit in kind and affect your tax code. Same for a company car.
If around 60k bear in mind child benefit to be paid back.

A good pension can be worth a lot, don't just check what your contribution is, have another line for employer contribution.

Thesalarycalculator.co.uk will do it for you.

Agree that the salary calculator is great. You can compare two salaries etc. However employer pension contributions would not be covered, but it depends if it is bottom line what you take home that you are trying to compare.

Thanks All. DH has job offer but £6k less than current job... but benefits are significantly better (16% employer pension contribution vs 3%, private healthcare, more annual leave, 3 mile vs 20 mile each way commute which means he can run/cycle.

Salary calculator didn't include many of these but have used a spreadsheet and although take home pay is quite a bit less -the pension and work/life balance would even that out if he decides to take it. They also have flexible office/home working against full office (which I think is what pushed him to look elsewhere).

Thanks for the tips!