Salary/compensation calculator?

Submitted by Chrisvettel5 t3_10ppf5v in personalfinance

Looking at possibly changing jobs, new job will pay a bit more up front but has smaller raises each year than current job. Anyone know of any calculators that would be able to calculate out salary with annual raises to determine which job will pay more in the long term? Thanks

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BlazinAzn38 t1_j6ls5b3 wrote

Excel, Google sheets, or pen and paper is all you’d need. Also take into account your benefits package as well.

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RustyWaaagh t1_j6lso2w wrote

I use smart asset.. like too much...

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myeighty8 t1_j6lvh64 wrote

Yeah same here. Should be the second or third result after googling “paycheck calculator”.

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Desensitizer t1_j6lwals wrote

If you really want to make more money, you should think about which job will advance your career growth further. In the long term that is what will drive your salary the most.

Sitting stagnant at either job without big raises/promotions (or not switching jobs in the future for better growth/a more notable bump) will be what makes the big difference salary-wise, not the difference stemming from what you seem to describe as relatively similar salaries in the short/mid term.

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HeresJono8 t1_j6lw6je wrote

ADP has a simple calculator that takes state by state tax effects into consideration

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Freeasabird01 t1_j6mz5uh wrote

There is likely a scientific calculator on your phone. If you have an iPhone, turn your calculator horizontally and you’ll see many more keys.

You’re looking for the x^y button (only the y is “raised”). X is the raise per year expected, and y is the number of years. Like this:

50000 x [raise amount] (x^y button) [number of years].

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