how much is my salary increase really worth?

morpheus

Registered User
Messages
183
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.
 
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].
 

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)