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So they give you a 20% pay cut for 4 years, then pay you 80% in the 5th year when you're not working, presumably when they forecast they'll have no work for you anyway...

Say you're on 100k, they cut that to 80k for 4 years, saving themselves 80k over the 4 years, they then pay you 80k in the fifth year to have the year off... So they've saved themselves $100k per employee, and all you've gained is a year off, with $100k less in your pocket than you would've had on normal terms

Sounds like a good deal...................

Tall them you will do it but you need to take the gap year first then quit before you go back or just get a job somewhere else.

Clearly they will never let you do it that way though

So they give you a 20% pay cut for 4 years, then pay you 80% in the 5th year when you're not working, presumably when they forecast they'll have no work for you anyway...

Say you're on 100k, they cut that to 80k for 4 years, saving themselves 80k over the 4 years, they then pay you 80k in the fifth year to have the year off... So they've saved themselves $100k per employee, and all you've gained is a year off, with $100k less in your pocket than you would've had on normal terms

Sounds like a good deal...................

Take the cynical blinkers off Monica

They haven't saved $100k per employee, they've gotten 4 years of work out of them and paid out $400k either way

And that mere year off could be spent on a beach with a European woman, not stuck in traffic in Tarneit

Tell me someone on 80k is going to happily doing workload of a 100k position?

100k for 5 years = 5 years of work for the company and $500k in your pocket (before tax)
vs
80k for 5 years = 4 years of half-arsed work for the company (They'll need to take on another employee to cover the 5th year so they're out $600 instead of $500k), barely making your house payments if anything goes wrong in your life (sick family, babies, etc).

What happens if situations change and you want to change companies after 3 years? Do they need to pay out 60k pro-rata on your last day? Thats a huge financial liability for the company.

Tell me someone on 80k is going to happily doing workload of a 100k position?

100k for 5 years = 5 years of work for the company and $500k in your pocket (before tax)

vs

80k for 5 years = 4 years of half-arsed work for the company (They'll need to take on another employee to cover the 5th year so they're out $600 instead of $500k), barely making your house payments if anything goes wrong in your life (sick family, babies, etc).

What happens if situations change and you want to change companies after 3 years? Do they need to pay out 60k pro-rata on your last day? Thats a huge financial liability for the company.

Considering last couple companies I worked for complain if you have more than 20 days annual leave owing...1 year hell no

Take the cynical blinkers off Monica

They haven't saved $100k per employee, they've gotten 4 years of work out of them and paid out $400k either way

And that mere year off could be spent on a beach with a European woman, not stuck in traffic in Tarneit

She'll leave you pretty quickly once your 80k runs out and you're sleeping in that same beach permanently

The concept isn't a bad one. It's like working 3 12 hour days a week for 36 hours and then having 4 days off, just on a grander scale.

What if it was 10%, instead of 20%? Having a year paid off ain't such a bad idea, because unlike the VWL regular elite most don't actually plan that well because life tends to get in the way.

Tell me someone on 80k is going to happily doing workload of a 100k position?

100k for 5 years = 5 years of work for the company and $500k in your pocket (before tax)

vs

80k for 5 years = 4 years of half-arsed work for the company (They'll need to take on another employee to cover the 5th year so they're out $600 instead of $500k), barely making your house payments if anything goes wrong in your life (sick family, babies, etc).

What happens if situations change and you want to change companies after 3 years? Do they need to pay out 60k pro-rata on your last day? Thats a huge financial liability for the company.

Company pays you $400k over 5 years as your 5th year is unpaid but supported by the 80k saving you accumulated over the 4 years.

The company will then hire an additional person at $100k. So the end cost is the same for the business. $500k.

She'll leave you pretty quickly once your 80k runs out and you're sleeping in that same beach permanently

Well yeah cos I obviously wouldn't undertake any financial planning or change my lifestyle at all

I should just go to work and take zero risks, what was I thinking

  • Like 1

I went from EBA hourly rate, 40 hour week with fortnightly RDO (paid 36 hours a week)

to

Salary, the worlds most complex over-time system, no RDO's and monthly pay.

to finally

Hourly rate salary, OT penalty rates, no RDO, fortnightly pay.

(^ best). RDO fortnightly was a joke, couldnt run a site properly or finish a job as planned. I prefer the extra paid hours.

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