can some one shed some light on what it means for our pocket, Salary circa $95k. is it inclusive of pension and things, or is that the flat salary. trying to work out what monthly income it wud give us.
So we can choose an area and schools etc
__________________
I wanna get outta this place, if its the last thing i ever do!!:wubclub:
Hard to tell but given that it has the circa in there I would say that that includes things like super and any other fringe benefits that the employer offers. I think you would have to go back to them and ask to specify exactly what is included.
can some one shed some light on what it means for our pocket, Salary circa $95k. is it inclusive of pension and things, or is that the flat salary. trying to work out what monthly income it wud give us.
So we can choose an area and schools etc
There are two ways to define salaries. One is defined as 'package' and this includes benefits including super contributions. When this is quoted you need to get a full definition of what these benefits are as they vary from person to person.
The other way to define salary is 'basic salary'. This doesn't include any benefits such as super which is currently 9% (I think?) so in this particular case multiply basic by 1.09 to get package value. The higher up the tree you are the more benefits may be included in your package such as a car etc.
By the way $95K is approx 1.5 times average earning making you pretty comfortable by most peoples standards.
right ok, i think i had it right.
So if it included car & super (is that pension) private healthcare, that would, along with pay be to the value of $95k , not in addition too....sorry for being dim.
So salary wud be around $70k ish??? or am i way off and totally back to front, sorry my head hurts.
__________________
I wanna get outta this place, if its the last thing i ever do!!:wubclub:
right ok, i think i had it right.
So if it included car & super (is that pension) private healthcare, that would, along with pay be to the value of $95k , not in addition too....sorry for being dim.
So salary wud be around $70k ish??? or am i way off and totally back to front, sorry my head hurts.
Thats correct, package means everthing lumped in so deduct benefits to find the cash value.
Some benefits are subject to fringe benefits taxation... very complex (or just plain boring) so I can't say whats good and what isn't.
To me, "salary circa $95K" means that the salary for the position will be negotiated around the $95K mark. The company will pay more if you're worth it and demonstrate that you're worth more, the company may pay less if they can get you to accept it, especially if you don't have all the skills and experience required for the job. As part of your salary negotiations, you may agree to accept a lower salary in return for the company providing you with a car, phone, computer etc but only if that is whatt you want.
Compulsory superannuation payments (currently set at 9%) are an employer expense, not an employee expense. That is something your employer pays and it does not come out of your salary. If next month the government changed super from 9% to 11%, the money would not be deducted from your wages, the extra 2% is a payment the company makes. Exactly the same thing as happened a few years ago when the employer super payment was increased from 6% to the current 9%. It is likely to be increased to 11% or 12% within a couple of years.
If next month the government changed super from 9% to 11%, the money would not be deducted from your wages, the extra 2% is a payment the company makes. Exactly the same thing as happened a few years ago when the employer super payment was increased from 6% to the current 9%. It is likely to be increased to 11% or 12% within a couple of years.
That's only correct in some cases Bob. When the increase went from 6-9% I and all the other workers took a 3% pay cut. I remember it well because I was running the factory floor at the time and took all the flack for it. The MD/Owner told me not to worry because I'd get a 3% pay increase soon.
The important thing for new poms to know is that there's two ways to describe your salary 1) Package and 2) Basic. Private enterprises usually quote package because it looks better.
When the increase went from 6-9% I and all the other workers took a 3% pay cut. I remember it well because I was running the factory floor at the time and took all the flack for it. The MD/Owner told me not to worry because I'd get a 3% pay increase soon. 
