how much is my salary increase really worth?

[morpheus]

Hi all,

Im smiling at the minute, I just got a pay rise from 35k - 38k which ok at first is fantastic, but then i think, in all fairness just how much is this really worth to me, how would i begin to calculate the difference this will mean to me long term?

this is roughly an 8.5% pay increase, which firsthand is really good according to most recruitment websites where industry standard is usually 7%.

However since its my first increase since 2004 when i started, taking inflation into account (2004 - 2005 and 2005 - 2006), I begin to wonder, just what exactly is it really worth to me?

Your help as always is appreciated.

 

[ClubMan]

Plug the figures into Karl Grabe's tax calculator to estimate the change in net income.

[broken link removed]

You can work out the average effects of inflation using the [broken link removed].

 

[demoivre]

Hi all,

Im smiling at the minute, I just got a pay rise from 35k - 38k which ok at first is fantastic, but then i think, in all fairness just how much is this really worth to me, how would i begin to calculate the difference this will mean to me long term?

this is roughly an 8.5% pay increase, which firsthand is really good according to most recruitment websites where industry standard is usually 7%.

However since its my first increase since 2004 when i started, taking inflation into account (2004 - 2005 and 2005 - 2006), I begin to wonder, just what exactly is it really worth to me?

Your help as always is appreciated.

A salary of 38k today, expressed at constant Dec. 2004 prices for comparative purposes, is about €35,600. ( ie taking inflation at 2.48% for 2005 and 4.1% from Jan. 2006 to the end of August 2006)