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A little confused about my wages!

Discussion in 'New teachers' started by I_love_to_procrastinate, Jan 27, 2011.

  1. I have done a quick search but I cant find anything so I was just wondering if anone could help with this. I have just got my first pay check as an NQT and the numbers don't quite add up as I was hoping.
    What is the yearly salary as an NQT? I thought we were on M1 which is £21 grand ish. However I have just multipled my basic monthly salary by 12 and only came out with £19872.84. That seems pretty low. (its £1656.07 a month)
    And then I have been taxed and had pension taken off which is £526.04 (which seems extremley high) so my take home pay is only £1130.03.

    SO i was wondering are these figures right? I'm only taken home £70 a month more than when i was earning £15 grand a year. So i was kind of hoping something has gone wrong here!!! Although I do the job because I love it, the money side does help!!
    So basically is my monthly salary before tax wrong? I think I am being screwed over by the tax man to be honest as well!!
     
  2. I have done a quick search but I cant find anything so I was just wondering if anone could help with this. I have just got my first pay check as an NQT and the numbers don't quite add up as I was hoping.
    What is the yearly salary as an NQT? I thought we were on M1 which is £21 grand ish. However I have just multipled my basic monthly salary by 12 and only came out with £19872.84. That seems pretty low. (its £1656.07 a month)
    And then I have been taxed and had pension taken off which is £526.04 (which seems extremley high) so my take home pay is only £1130.03.

    SO i was wondering are these figures right? I'm only taken home £70 a month more than when i was earning £15 grand a year. So i was kind of hoping something has gone wrong here!!! Although I do the job because I love it, the money side does help!!
    So basically is my monthly salary before tax wrong? I think I am being screwed over by the tax man to be honest as well!!
     
  3. trinity0097

    trinity0097 New commenter


  4. I paid student loan and pension and took home £1260 last year on M1. Your pay should be 21,100 ish. Definitely not 19k!
     
  5. Helena Handbasket

    Helena Handbasket New commenter

    The best advice I can give is go on the Listen to Taxman website. That calculates it all for you. It does seem quite low as my take home is 1400ish and I am on M2 although I don't pay pension at the moment which was £124. Have you added on student loan and things? I lose about £500 a month though through tax/student loan/national insurance.

    check your tax code is correct. I was on BR for a few months waiting for a tax code to come through.
     
  6. As trinity has said. Check your pay slip and then get on to tesfaq pay calculator...I really can't recommend it enough as it quickly breaks everything down for you.
    I had a quick look on there for england M1 and it should be around £1281 a month.
     
  7. jubilee

    jubilee Star commenter

    1) Are you full time?
    2) Did your contract start on 1st January or is your January pay for less than a full month (paid from 4th January perhaps)?
    3) If you are on BR tax, you will get a rebate when you get your proper tax code. Did you have a P45 from a previous job or from JSA to hand in ? If not, you should have completed a P46.
    4) If they have deducted Student Loan repayments, you should probabl;y claim that back as you only pay based on annual pay of over £15k in each tax year. If you can't earn £15k betweem 6th April 2010 and 5th April 2011, you shouldn't be making repayments until the next tax year (with first repayment at the end of April 2011).
    5) Although Pension payments reduce your take-home pay, you gain time in the pension scheme at a much cheaper rate when on M1 than you do on later years in the career. A pension year at 6.4% of M1 will generate the same eventual payout as a pension year bought with 6.4% of M6 or of UPS3.
    Also, pension payments are taken from gross pay and thus reduce the amount of pay on which income tax is levied. Additionally, you pay the lower, contracted-out NI rate if in the pension. Thus, anyone Opting out of paying £125 per month, for example, in Superannuation (TPS) payments does NOT get £125 extra in take-home pay as they pay extra tax and NI.
    6) Have you officially got QTS? If you've just completed your training and have not yet received QTS officially from the GTC, you will initially be paid on the Unqualified payscale until your QTS is conferred. However, if your registration as an NQT for Induction has been accepted, that will mean that you do have QTS and should be on M1 at least.
    M1 in England and Wales is £21,588 per annum.
    M1 in the Fringe area is £22,626
    M1 for Outer London is £25117
    M1 for Inner London is £27,000
     
  8. Thank you so much for the replys guys. It is unfortunately tax code BR so i informed the school last night and they are chasing that up so hopefully next month that is sorted.
    Thank you for the link for the spreadsheet guys, i fell a little bit in love with it! Took the hassle out of me trying to work out a percentage of tax etc. Saves a headache.
    Jubilee you could be right there with my contract date. I started on the 4th so they probably havent paid me the full month. That thought never crossed my mind, I just thought I would get the whole wage because technically I started on the first day of term. With losing 4 days pay there and the emergency tax that could be where the shortfall is.
    I shall keep my eye on it for next month aswell and hope it all works out. Its still alot more than i was earning on supply so Im still happy with the amount!!
     

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