Post
by chrissy » Sun Oct 19, 2003 7:32 am
OK - let's look at your real salary - - you say you get a home and electric free - - so, let's translate that to real dollars. How much would your home rent for per month if you did not live in it? And, how much is the rent for the site? How much is your average electric bill? Now, add all three of these together. Then, multiply by 12 to find out the total net value of this benefit. This benefit - remember - is tax free. So, essentially, you are using "after tax" dollars to pay for your housing and utilities. If they paid you full wages, and you paid for your housing, it would be after taxes. And, if you are in the 28% income tax bracket, plus 7% for social security tax, that means you would have to earn 35% more than the value of your housing in order to pay for it. Now that you can really calculate what the value of your salary is, look around you and compare. And, while you compare, don't forget the intangible benefits of your position - think about the flexible hours of your position, the ability to attend a school function with your children, to be home with a sick child and still attend to business, etc. Honestly, it doesn't sound as though your position and pay are out of line across the board, but I'm not sure how it compares to actual housing costs in Houston.
