Take a 2nd job or wait for increase? What would you do?

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  cupcake on 13/10/2015 - 11:37

  +2

  If you have the time and energy for a second job and would like the extra income, why not?

  If you are getting a pay rise next year, that's great.

  It's up to you whether you want to pay more tax or not lol

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  cypher67 on 13/10/2015 - 11:48

  +1

  Work life balance is important, need to weigh up if the extra cash is worth your time considering the extra tax on the 2nd job. Most second job don't pay well. If you had time to spare, I'd focus on other development opportunity like extra education or certifications to help progress your primary job.

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    bobbified on 13/10/2015 - 12:00

    The extra tax was pretty much what made me decide to not take a second job. I wasn't willing to give up my nights/weekends for the piddly amount I would have had left after tax.

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      dasher86 on 13/10/2015 - 15:45

      i don't understand why people think they get taxed more for having a second job.
      Your income is taxed the same regardless of how many jobs you have.
      Your income tax rate might increase because it puts you in another bracket but the same would apply to a pay increase in the same job.

      • 

        bobbified on 13/10/2015 - 16:09

        +1

        It's not a matter of being taxed more.. it's how worthwhile the net amount of money received is vs the time spent.

        I'm in the second highest bracket.. so if I apply my marginal tax rate to a second job (that's likely to be retail) where the hourly rate is (estimating here) about $20, I'd be left with about $12/hour.

        So if I was to work a whole 8 hour day on Saturday, I'd be taking home less than $100 in my pocket.

        I considered, for $100 cash, whether it was worth:

        1. Giving up late nights on Friday night and;
        2. Giving up my whole day on Saturday

        I didnt think it was worth it. That's how much it costs me to get a round of drinks at a nightclub. I've got other reasons to think it's not worth it too, but it only applies to my own situation so I've left it out of this post.

      • 

        dasher86 on 13/10/2015 - 16:24

        +1

        @hv:
        cheers for the further explanation.
        I read it as extra tax, not tax percentage vs the rate of pay.

        A lot of people think they get taxed more because you cannot apply for the tax free threshold on two jobs.
        Your take home pay may differ but you still get taxed the same at the end of the day.

      • 

        ilikeradiohead on 13/10/2015 - 17:14

        +1

        @dasher86: You're taxed at your marginal rate, so like HV said, $20/hour turns into $12/hour. If it was his only job then the $20/hour would effectively be around $17/hour, so he's $5/hour worse off than someone who only works at the place (although likely better off because he already has a primary job) - ($20/hour x 40h/week ~$42k/year).

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  Maki on 13/10/2015 - 11:49

  Job satisfaction is another thing you want to consider. After all, $10k isn't much if you need to work in a job that you don't like / enjoy.

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  Swim1976 on 13/10/2015 - 12:17

  +2

  I had a second job in a drive through bottle shop for a while - 3 nights a week was great made some friends in the attached hotel. it was a big change from my day job so I found the break was great - I had a good boss but knowing I was choosing to be there made it no stress. all in all if you have the time and energy then there are few downsides - walk away if its not working out and you still have your other job.

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    hashtagbargain on 13/10/2015 - 13:50

    how'd you find this second job? sounds like something I could use right now…

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  grabngo on 13/10/2015 - 15:37

  there is a website called seek.com.au
  maybe that is a starting point

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  bobbified on 13/10/2015 - 16:34

  +1

  One thing to take into consideration when looking for a second job is whether it takes away the flexibility of being able to do the odd bits of overtime that might be required for your main job. Most 9-5 jobs are not really 9-5 anymore.

  If you have to turn down work urgent work activities in the afternoon because you have to leave at 5pm on the dot to make it to your second job at 6pm, you might leave a bad impression that can in turn make you not be considered for future promotions or payrises.

  Or if the whole team is coming in to do some work on the weekend and you can never make it in, you might not be considered a "team player".

  And by working lots of hours across both jobs, esp nights, your ability to concentrate on your main job might be affected.. that could lead to a whole range of issues.