Now that I have started my new job (since 5 days), I will give you some financial details about that move.
Our company is using the Hay system to define the salary grade for each jobs, so with my promotion, I received one grade promotion, which means the following:
- A salary increase of 4.3%
- New incentive compensation (IC) rate from 13% to 18%, if I consider last year performance remaining the same, it will increase by +/- 8’500 CHF to a level of 25k-30k.
As I mentioned, in this post (Job, functional move and salary increase), my work location is now in another city of Switzerland away by 80 Km from home. When I signed my new contract, I had the surprise to receive a bonus 18’500 CHF for transportation expenses.
We will keep this bonus in our “car” saving account to be ready to buy a new car in a couple of years.
Now, we all these additional bonuses, I will need to figure out what will be the impact on our taxes, as all the above are subject to tax imposition. The tax reimbursement from 2014, will not go for shares investment but probably to pay the additional 2015 taxes.
What about you, any new job, are you looking to change job?