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Introducing the Job Payoff Index

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legal warning

legal warning: The information here should not be understood legally as financial advice. If you believe anything on this site is in error, please contact me. I am always open to corrections, new ideas, and new opinions...

A long time ago, I discussed the need for a singular method to measure how much one receives from a job, including all tannaim (benefits).

Such a unit of measurement would allow the public to understand the true payoff of a particular job in order to compare possible job offers, serve as a basis for contract negotiations and even, if you look at the bigger picture, serve as a more reliable unit of measurement for a progressive tax system.

I have released a first draft of this creation, which I call the Job Payoff Index, at jobmob for their summer guest blogging contest.

Click here to see the full article and download the first draft of the JPI.

I am aware that while the measurement I propose is a good place to start valuing a potential job, it is far from perfect. It cannot measure important factors in determining your job such as potential for growth, how nice your coworkers are, nor how interesting your job is.  But while you decide if you enjoy your job or not, it can tell you, honestly, how much you are making
 If you have any corrections or comments, I’d be glad to hear it.  My hope is that with the input of users, I will be able to create an updated version 3 or 4 times a year.

2 Comments

  1. Paula says:

    Hi, this is very Useful – i work for a foreign embassy paying in cash with minimal benefits.
    another Q: have you considered the question about retirement funds, pension, mutual fund gains (say some held in US and some held in Israel) and the way that these would be treated by Israel and the US for dual citizens residing in Israel upon sale or retirement considering the US Israel tax treaty and new stricter regulations to report on all accounts to the IRS. I’ve gotten lots of different answers…

    • jonnydegani says:

      For any pension / investments / mutual fund I would include it either (1) in the % of your paycheck that your company pays (if it is a %) or (2) as a solid amount added to the payoff (I should include a box for this in the next version). I try to take all money paid into investments based on the time they are paid (adding some extra if I know there will be a tax break), so I wouldn’t want to get into the foreign currency risk issue. I also wouldn’t get into the issue of where the money is (US or Israel), because the only issue with that nowadays is the change in the exchange rate.
      Are you considering retiring in Israel or the US? As far as I have heard, an American Israeli do not have to pay any taxes to America until he or she earns the equivalent of USD $90,000. What have you heard?

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