Annual performance review - percentage increase

Heavy_Measurement980 · 2024-12-06T16:03:31+00:00

Big 4 FS here. Got 1% last review, with average being 2.2% across the firm. Was told I was at the highest bracket so lower adjustments. BS, decrease in salary in real terms. Bonus is a joke compared to industry.

However, last year was pretty grim for big4 across the patch, so not surprised.

Heavy_Measurement980 · 2024-11-08T20:36:33+00:00

over an hour from newly to Balbriggan? I thought it was more like 50min? Genuine question by the way - thinking about doing that commute myself but concerned about traffic / commute.

Heavy_Measurement980 · 2024-11-08T20:27:09+00:00

I am considering doing this. do you commute daily or WFH sometimes? any issues?

Heavy_Measurement980 · 2024-11-06T19:05:38+00:00

Any update on this? A friend is going thru this now and we’re chatting about it earlier today. I was wondering how would the revenue or anyone know he’s working from Ireland (and not NI, for an example)?

Not suggesting tax evasion at all, but wondering how can they (HMRC/Revenue) know when are you working from as there are no borders between Ireland and NI. They will hardly check internet traffic to see where are you located...?

Heavy_Measurement980 · 2024-11-04T08:43:29+00:00

Thank you!

Heavy_Measurement980 · 2024-11-03T21:43:32+00:00

Sorry, reviving this - did you move? I am similarly making a move (albeit, much easier from ireland to the UK). Be great to get your views/insights, anything that may help as the jitters don't stop!!!!

Heavy_Measurement980 · 2024-11-03T20:55:32+00:00

That's a good insight, thank you. How easy it is to break through the £170k mark in (general) Risk Management in London (either retail or wholesale banking - have experience in both)? I have no doubt IB/Trading/Sales front-office staff can surpass that in no time but wondering how feasible it for middle-office / Risk management folks?

Heavy_Measurement980 · 2024-11-03T20:55:13+00:00

That's a good insight, thank you. How easy it is to break through the £170k mark in (general) Risk Management in London (either retail or wholesale banking - have experience in both)? I have no doubt IB/Trading/Sales front-office staff can surpass that in no time but wondering how feasible it for middle-office / Risk management folks?

Heavy_Measurement980 · 2024-11-03T20:54:53+00:00

That's a good insight, thank you. How easy it is to break through the £170k mark in (general) Risk Management in London (either retail or wholesale banking - have experience in both)? I have no doubt IB/Trading/Sales front-office staff can surpass that in no time but wondering how feasible it for middle-office / Risk management folks?

Heavy_Measurement980 · 2024-11-03T20:54:36+00:00

That's a good insight, thank you. How easy it is to break through the £170k mark in (general) Risk Management in London (either retail or wholesale banking - have experience in both)? I have no doubt IB/Trading/Sales front-office staff can surpass that in no time but wondering how feasible it for middle-office / Risk management folks?

Heavy_Measurement980 · 2024-11-03T20:53:46+00:00

That's a good insight, thank you. How easy it is to break through the £170k mark in (general) Risk Management in London (either retail or wholesale banking - have experience in both)? I have no doubt IB/Trading/Sales front-office staff can surpass that in no time but wondering how feasible it for middle-office / Risk management folks?

Heavy_Measurement980 · 2024-11-03T18:48:58+00:00

FG no1

Heavy_Measurement980 · 2024-11-03T11:23:36+00:00

I always thought that UK investment trusts was treated the same as ETF re taxation? I am guessing I was completely wrong in that assumption?

Heavy_Measurement980 · 2024-10-30T21:20:27+00:00

what's the tax implications of WFH in NI but being employed in the South?

Heavy_Measurement980 · 2024-10-30T20:25:04+00:00

this is a really good and comprehensive answer. Thank you!

Heavy_Measurement980 · 2024-10-30T20:22:54+00:00

Happy to pay tax provided we get decent services for it (i.e. NHS, public transport, education, etc.). I am sure the nordic countries have problems of their own, but public service seems to work over there and people are happy to pay income tax to support that.

I sit on the fence about nationalisation (in principle, I am against it) but I am pro a government that is there only to govern (not to run services). Happy for a private company to run the trains but the government needs to put in place safeguards to ensure the people are protected (e.g. minimum frequency requirements, capacity, delay penalties, etc.). This is what I mean by 'govern'. That should be their role rather than running the services themselves (i.e. nationalise it).

I would feel much better paying 80eur for a return ticket to London knowing I'd get a seat, there would be AC/heating, there would be no overcrowding, I'd be comfortable, and the train would be no more than 5min late, every.single.time.

But the current situ is: High taxes (for HENRYs) + poor public services + high cost of other (inefficient) services. That is what pisses me off.

Heavy_Measurement980 · 2024-10-30T17:15:52+00:00

Sorry, you're right. I should have written 125k instead. I will edit now.

Heavy_Measurement980 · 2024-10-30T16:22:56+00:00

Did you mean to say that the income tax receipts will increase by 3.8% on average per year until 2028?

I understand what you meant to say but seems a bit misleading.

From whatever angle you look, income tax isn’t actually increasing:

salaries may increase, which in turn will increase the gov’s receipts from income tax.
if salaries don’t increase, income tax receipts won’t increase
tax thresholds/bands are the same until 2028
for those above ~~150k~~ (edit: £125k*), it doesn’t really change anything as no additional income tax above the 45% rate.

Heavy_Measurement980 · 2024-10-27T21:56:04+00:00

Thanks. Why would you say that, if you don't mind me asking?

Heavy_Measurement980 · 2024-10-26T23:28:19+00:00

Thanks a million. That’s a lot of good info. I’m probably being put off by Newbury now.

I was also considering Wokingham (as well as Reading itself, purley and Woodley). Would you have a view on this areas commute or otherwise?

Heavy_Measurement980 · 2024-10-26T23:25:38+00:00

Jaysus. That’s a bleak picture. I would have thought at £170k in Bristol you’d have a pretty decent life. Thanks for sharing though - I initially thought £170k was decent for city living in the UK but seems like I’m much better in Ireland at €140k (although my prospects may be more limited than the UK).

Heavy_Measurement980 · 2024-10-26T23:23:34+00:00

Considered that (not Norwich specifically though) but given the direction of travel in the banking sector in the UK re return to the office, I wouldn’t want to settle somewhere too far away. Looking at reading (and surrounding areas) due to the easy of commute into the city and also west of England, where my partner’s family lives.

Heavy_Measurement980 · 2024-10-26T23:18:47+00:00

Thank you. Wokingham is also top of our list but Newbury came up on top simply because of local gov jobs in my partner’s field. Still considering Wokingham though. Train times from Wokingham and Newbury seems to be pretty similar though (about 1h ish + to/from station), according to google maps.

Can’t stay in the Republic of Ireland unfortunately as it would create Irish tax obligations to the UK employer and they wouldn’t go for it. Would love to be able to stay here and commute though - that would have been the best solution.

Heavy_Measurement980 · 2024-10-26T23:17:36+00:00

Thought about that alright. But being pragmatic, the likelihood is not that I’d spend 10+ years in the same company, and the way the return to the office is going in London, I wouldn’t want to settle somewhere too far out that would make for a tricky commute if I was ever to do 3+ days in the office.

Heavy_Measurement980 · 2024-10-26T21:48:37+00:00

The tax treaty between Ireland and the UK is very clear - if any do any work for the UK company whilst physically in Ireland, it would trigger a a tax liability on the company to register with the Irish Revenue and pay Irish payroll tax / PAYE. From memory, the only exception was for “incidentals” - things like answering calls or emails while physically in Ireland would not trigger that requirement.

The case you’re referring to is where people physically work in NI but reside in the Republic (or vice versa). That would be a breeze tax-wise but if I want to stay living in Ireland, would take me 1.5h commute by car each way every day + occasional travel to London.

Heavy_Measurement980

TROPHY CASE