What does this mean in a job ad: Salary including OTE circa £11-14,000+?
I have no idea what it means. I know that OTE means something like Target earnings?, but what does this mean for my pocket??
What would i be paid each month on the basis of this ad and is this after tax has come out?
Please help me urgently cause i need to know if i should try for this job before 4pm today.
thanks
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You are right OTE means On Target Earnings - the ad implies that the job is either commission only or largely commission based. So ask them what the basic salary is and look further into the commission prospects if you are interested. For income tax calculations go to
http://listentotaxman.com/
and input the monthly / yearly wage to work out what you will end up with after tax and NI
The wage is cra p. OTE means On Target Earnings. It means that your minimum wage is apalling, and just to make slightly more money (which will never be enough), if you work really hard at reaching the targets set, you MIGHT end up earning UP TO £14,000. Normally in a target earning job, if you fail to reach the targets, they will start to give you a hard time, and may even sack you for failing to reach the targets. If it was me, I would keep looking for another job!.
ON TARGET EARNINGS This means you could possibly earn £11-14k per year - you may have a small basic salary or it could be commission only - be careful and make sure they are very clear about this.
It means on target earnings. For example sell 20 mars bars and earn 14,000 sell 10 mars bars and you earn £11,000. Its something to clarify at interview so apply and ask some questions, you can always say no thanks if its not for you.
on-target-earnings, means they set the targets and if you make them you get 11-14k+ per year. say you earned 12k pa (per annum) divided by 12 = 1000 per month, depending on your tax code you may be stopped about a quarter of that per month = 750 per month, this is just a rough guess. and it's a hard life.