I recently changed jobs and I'm on the same salary I was on before, yet I am actually getting paid £200 less than I was at the old place.
What are the possible reasons for this?
Thanks
I recently changed jobs and I'm on the same salary I was on before, yet I am actually getting paid £200 less than I was at the old place.
What are the possible reasons for this?
Thanks
A few things come to mind:
One reason not covered by the previous answer is that you may have gone from being paid semi-monthly to bi-weekly. So for the same salary, lets go with £50,000:
semi-monthly: 50,000 / 24 payments (2 payments per month) = £2083.33
bi-weekly: 50,000 / 26 payments (52 weeks in a year / 2 ) = £1923.07
Same salary, but per paycheck semi-monthly pays £160.26 more. This difference gets bigger with a higher salary. One bonus of bi-weekly is that if you budget assuming 2 (smaller) paychecks each month, the 2 months you get 3, you can have extra spending money.