Daughters first job

[kossoff]

Is the value account some kind of benefit that is applicable to the type of job?

Yes. It's not RBS she works for is it? The value account is a pension scheme (which you can opt out of) and get that paid as salary. I don't know if the dental stuff etc... is lumped in as part of that value account or if that's extra.

 

[rentaghost]

Does she get anything outside her salary e.g. Car, healthcare, gym membership etc?

No I don’t think so

You can take off 12% for national insurance then the amount on tax code for what the government takes. Is the company not just outlining that? Plus pension also

Sounds plausible!

 

[Sleepy]

Nee pics etc

She was told her wage would be 17,700

On her contract it breaks things down as follows:

Salary - 14,750.00

Value account - UK 20% VA of basic salary

Total fixed reward 17,700 (salary + value account)

What is the 'value account'? Is he getting 14.750 or 17,700?

Ta in advance!

It’s ‘extras’ I believe used to cover perks she will get.

So the base wage will be 14750 and the rest can be used to purchase extras. Depends on the deal if she gets to opt out of extras I suppose?

 

[MonkeyLove]

It will be an amount for what they usually call flexible benefits

 

[offshore]

No I don’t think so


Sounds plausible!

My workings out is £1475 before take offs £1298 with NI taken off only that makes it £15,576 a year without tax and pension. So sounds about right

 

[Roger]

Often things like this are to avoid paying some tax/NI, some sort of "salary sacrifice" (Salary sacrifice for employers) typically used for pensions so you pay NI on a lower gross salary and end up marginally better off - the main benefit is for the employer though as they avoid more NI!

The only way she will find out for sure is by asking her employer.

 

[natinnam]

Whats her job? Only asking as I've told my eldest who wants to go Uni after A-Levels, to keep an open mind, not write off a good apprenticeship or the like. However, with that being maybe an average salary, it just seems it would be difficult to live off a month, or I'm just out of touch with that side of things, I'm sure i was on more than that back in the early 90's.