2015 Compensation for Banking - MEGA THREAD Watch

sertur91
Badges: 0
Rep:
?
#61
Report 4 years ago
#61
guys, quick net salary question for those of you that know better than me the tax system in UK: how much you pocket with a £45k salary in the UK after tax per month?
I am talking about someone working all year round, not a summer intern.
thanks!
0
reply
Commercial Paper
Badges: 21
Rep:
?
#62
Report 4 years ago
#62
(Original post by sertur91)
guys, quick net salary question for those of you that know better than me the tax system in UK: how much you pocket with a £45k salary in the UK after tax per month?
I am talking about someone working all year round, not a summer intern.
thanks!
This should help:

http://www.moneysavingexpert.com/tax-calculator/

Posted from TSR Mobile
1
reply
sertur91
Badges: 0
Rep:
?
#63
Report 4 years ago
#63
very useful, thanks!
one more question, probably a silly one for a UK resident: why is there the "exclude national insurance" option? if someone pays the private pension contribution can avoid paying national insurance?
thanks again
0
reply
Commercial Paper
Badges: 21
Rep:
?
#64
Report 4 years ago
#64
(Original post by sertur91)
very useful, thanks!
one more question, probably a silly one for a UK resident: why is there the "exclude national insurance" option? if someone pays the private pension contribution can avoid paying national insurance?
thanks again
Well, I'm only young so not sure myself.

My understanding is that everyone pays national insurance, there is no 'opt-out' as it were, regardless of if you have a private pension etc.

I think the option is there because in some instances if you're on a very low income or only working very few hours/part-time then you're not required to make national insurance contributions. Could be wrong though.

As a banker, you'll certainly be contributing a lot though, haha

Posted from TSR Mobile
0
reply
MAINE.
Badges: 3
Rep:
?
#65
Report 4 years ago
#65
(Original post by KLL)
Street or slightly above.

Not what I've heard. Heard the french banks are known to pay below street.
0
reply
KLL
Badges: 11
Rep:
?
#66
Report 4 years ago
#66
(Original post by MAINE.)
Not what I've heard. Heard the french banks are known to pay below street.
Not in base.
You probably heard a bunch of VIEs who think they're analysts chat that.
At SG, back office gets 45. FO gets more
0
reply
sertur91
Badges: 0
Rep:
?
#67
Report 4 years ago
#67
(Original post by will2348)
Well, I'm only young so not sure myself.

My understanding is that everyone pays national insurance, there is no 'opt-out' as it were, regardless of if you have a private pension etc.

I think the option is there because in some instances if you're on a very low income or only working very few hours/part-time then you're not required to make national insurance contributions. Could be wrong though.

As a banker, you'll certainly be contributing a lot though, haha

Posted from TSR Mobile
ah ok makes sense.. thanks again!
0
reply
Liamp487
Badges: 2
Rep:
?
#68
Report 4 years ago
#68
(Original post by KLL)
Not in base.
You probably heard a bunch of VIEs who think they're analysts chat that.
At SG, back office gets 45. FO gets more
Is it a confirmed fact that B/O at SG get £45k? Is this for first year analysts?
0
reply
spoli21
Badges: 9
Rep:
?
#69
Report 4 years ago
#69
I am not familiar with the UK tax systems, so i wonder how much of the summer intership salary goes to nationa insurance. Also, am I right that you pay no income tax as it is below 10k treshold?
0
reply
Commercial Paper
Badges: 21
Rep:
?
#70
Report 4 years ago
#70
(Original post by spoli21)
I am not familiar with the UK tax systems, so i wonder how much of the summer intership salary goes to nationa insurance. Also, am I right that you pay no income tax as it is below 10k treshold?
You pay income tax via PAYE and then have it refunded at a later date if your overall yearly earnings don't go over the threshold because your pro-rata salary is in the higher income bracket, that's my understanding anyway.

Posted from TSR Mobile
0
reply
Noble.
Badges: 17
Rep:
?
#71
Report 4 years ago
#71
(Original post by will2348)
You pay income tax via PAYE and then have it refunded at a later date if your overall yearly earnings don't go over the threshold because your pro-rata salary is in the higher income bracket, that's my understanding anyway.

Posted from TSR Mobile
You can avoid paying tax if you have a P45/P60 and the employer essentially indicates it's a fixed term contract showing what your earnings will be. I just don't think the banks bother with so many interns.
0
reply
KLL
Badges: 11
Rep:
?
#72
Report 4 years ago
#72
(Original post by Liamp487)
Is it a confirmed fact that B/O at SG get £45k? Is this for first year analysts?
It's what I've been told by several people who got in the grad scheme. I did not verify this with SG Hr or check the contracts.
Yes, first years in the grad scheme. May differ if you're not on the grad scheme
0
reply
KiiMoZz
Badges: 1
Rep:
?
#73
Report 4 years ago
#73
Hi guys, this might be a naive question, but do spring interns get paid, or is it just accomodation??


Posted from TSR Mobile
0
reply
Commercial Paper
Badges: 21
Rep:
?
#74
Report 4 years ago
#74
(Original post by KiiMoZz)
Hi guys, this might be a naive question, but do spring interns get paid, or is it just accomodation??


Posted from TSR Mobile
Spring Week or actual Spring Intern?

Posted from TSR Mobile
0
reply
KiiMoZz
Badges: 1
Rep:
?
#75
Report 4 years ago
#75
(Original post by will2348)
Spring Week or actual Spring Intern?

Posted from TSR Mobile
Spring week for Barclays front office say... I read reviews that say they were paid


Posted from TSR Mobile
0
reply
Oschene23
Badges: 13
Rep:
?
#76
Report 4 years ago
#76
(Original post by KiiMoZz)
Spring week for Barclays front office say... I read reviews that say they were paid


Posted from TSR Mobile
Barclays have given £250 expenses in the past.
0
reply
X

Quick Reply

Attached files
Write a reply...
Reply
new posts
Latest
My Feed

See more of what you like on
The Student Room

You can personalise what you see on TSR. Tell us a little about yourself to get started.

Personalise

Have you registered to vote?

Yes! (314)
37.83%
No - but I will (64)
7.71%
No - I don't want to (62)
7.47%
No - I can't vote (<18, not in UK, etc) (390)
46.99%

Watched Threads

View All