20000 per annum starting salary

squiddy

Starting a job as a personal lines assistant Monday. I have no experience nor am I qualified yet I should be by September so it is essentially entry level. It's in the south east also. Is this a fair starting salary on the phone it seemed to be a little negotiable but I didn't want to ruin it for myself. It works out after tax to be 390 a week.

callaway92

You probably won't be getting taxed at all for the first few months due to tax credits.

20k in the South East for an Entry Level job is fine albeit alrightly underwhelming. It's a start though, and by the sounds of it, relevant experience.

Take it and re-evaluate a year down the road. Will you be living at home or renting? If at home, even better. Give your parents €50 a week and enjoy the rest then.

Good luck

NinjaTruncs

Are you being paid weekly or per annum? 20000 PA isn't 390 a week after tax as it's only 384 pre tax, there are 52 weeks in a year. 20K seems fair for someone with no qualifications and no experience. Get qualified and some experience and see what the market will offer.

squiddy

callaway92 wrote: »

You probably won't be getting taxed at all for the first few months due to tax credits.

20k in the South East for an Entry Level job is fine albeit alrightly underwhelming. It's a start though, and by the sounds of it, relevant experience.

Take it and re-evaluate a year down the road. Will you be living at home or renting? If at home, even better. Give your parents €50 a week and enjoy the rest then.

Good luck

Well I have worked since I finished college in May last right up until now so I probably won't have tax credits.

Yea that's what I was thinking it's still give or take 400 and when I'm qualified with a years experience it would surely go up? I suppose 25k would be the going rate with a years experience?

Yea living at home when the money rises I'll move out hopefully

callaway92

squiddy wrote: »

Well I have worked since I finished college in May last right up until now so I probably won't have tax credits.

Yea that's what I was thinking it's still give or take 400 and when I'm qualified with a years experience it would surely go up? I suppose 25k would be the going rate with a years experience?

Yea living at home when the money rises I'll move out hopefully

Ah ok, ya you won't have full tax credits but you won't be taxed at the full 20%.

Do you company pay VHI/Pension or anything on top of salary? Incentives like that are nice.

Exactly about the 25k. Realistically, I'd suggest doing a year there and then moving on elsewhere because internally you'd probably be lucky to get a 10-15% increase. Going external is the quickest way to payjumps anyway, no matter what the job you have.

squiddy

NinjaTruncs wrote: »

Are you being paid weekly or per annum? 20000 PA isn't 390 a week after tax as it's only 384 pre tax, there are 52 weeks in a year. 20K seems fair for someone with no qualifications and no experience. Get qualified and some experience and see what the market will offer.

How are you getting that ? 20000 divided by 12months is 1667 then that divided by 4weeks is 416? Yea that's the main thing I'm after is experience once you have a year it helps a lot

3102derek

they divided by 52 weeks: 20k / 52 = 384.61
Always divided by 52 weeks when converting from annual to weekly.
Your calculation is only for 48weeks, it should be 52 weeks.

squiddy

3102derek wrote: »

they divided by 52 weeks: 20k / 52 = 384.61
Always divided by 52 weeks when converting from annual to weekly.
Your calculation is only for 48weeks, it should be 52 weeks.

In this file attached it gives after tax 1545 per month after tax so that would be 386 is that right? Feel like a turnip when you miss something so obvious 😫

phormium

No, it's €356 p.w. because there are not 4 weeks exactly in a month so you must multiply a monthly figure by 12 and divide by 52 for number of weeks in the year.

Monthly pay normally refers to a calender month so a little more than 4 actual 7 day weeks in each month so to get an accurate weekly figure you must bring the figure back to an annual one and then divide by number of weeks in the year.

NinjaTruncs

or you can just divide your monthly salary by 4.3 which is the average number of weeks in a month (52/12) to determine your weekly salary.

kc66

Total Income €20,000.00
Your Income €20,000.00
Loan BIK €0.00
Vehicle BIK (1) €0.00
Health Insurance BIK €0.00
Qualifying Pension Deduction (€0.00)
Carer Allowance (€0.00)
Tax @ Lower Rate (20%)€4,000.00
Tax @ Higher Rate (40%)€0.00
Tax Credits (€3,300.00)
Net Tax (€700.00)
PRSI (€800.00)
Universal Social Charge (€290.00)
Annual Net Income €18,210.00
Monthly Net Income €1,518.00
Weekly Net Income €350.00

From http://services.deloitte.ie/tc/

Technocentral

To be on 390 a week would take a salary of about 23,200 as a single person with no children. (taxcalc.ie)

squiddy

Technocentral wrote: »

To be on 390 a week would take a salary of about 23,200 as a single person with no children. (taxcalc.ie)

Yea I get 20000 after tax I probably should've made that clearer 😂😂