Bianca is an electrical engineer who earns $84,770 per year. She also receives a monthly transit allowance of $75 and pays $37.43 per month in dues to her professional organization. Bianca received a job offer to work for a company that includes a base annual salary of $83,500, employer contributions to her retirement account of $125 per month, and a cell phone allowance of $35 per month. However, she will need to continue paying $37.43 per month in dues to her professional organization as well as pay an additional $55 per month in order to park in the company’s parking garage.Which job has the greater net annual value?

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AFOKE88 AFOKE88 · Answer 1 · 2021-09-29T16:29:05+02:00

The job with the greater net annual value is;

The current job.

She earns $84,770 per year.

In addition, she is paid $75 monthly as transit allowance.

She also spends $37.43 monthly in dues.

Thus, net pay in a month from transit allowance = $75 - $37.43 = $37.57

Then, total net pay from transit allowance in a year = 37.57 × 12 = $450.84

Total annual take home value = $84,770 + $450.84 = $85220.84

Base annual salary = $83,500

Additional money going into her retirement account = $125 per month

Cell phone allowance = $35 per month

Total net pay in a year from allowance and retirement = (125 + 35) × 12 = $1920

Expenses monthly = $37.43 + $55 = $92.43

Thus, expenses per year = 92.43 × 12 = $1109.16

Total annual take home value = $83,500 + $1920 - $1109.16 = $84310.84

Comparing both net annual values, the current job pays better than the new job offer.

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