What Happens to Your First Salary · Course check

Course check

3 questions. Get them all right and the Take Home seal is yours. Get one wrong and you can reread and try again — as many times as you like, and nothing is recorded against you.

1. Why is planning around the gross figure a mistake?

   Gross pay is usually a fifth to a third higher than what reaches your accountGross pay is quoted per quarter, not per yearEmployers rarely honour the gross figure

2. Which deduction is most straightforwardly still your money?

   Income taxSocial securityA retirement or provident fund contribution

3. Why budget the first three months separately?

   Tax is higher in the first quarterSalaries are always paid late in the first yearStarting a job carries one-off costs and a long gap before the first pay date