Cost of Switching Jobs Calculator

Switching jobs involves more than just a salary change. This calculator helps you evaluate the true financial impact by accounting for lost benefits, new expenses, and changes in bonuses or other compensation. It provides a clearer picture of whether a job switch is a net financial positive in the first year.

The calculator determines the 'net change' by comparing the total value of your new job offer against your current package. It sums your salary and bonuses for both roles, then subtracts the value of any benefits you'll lose and adds any new costs you'll incur (like a longer commute). The result is the true financial gain or loss from the job change.

• A sign-on bonus is a one-off incentive. While it can make a new offer look attractive, the long-term impact of your base salary increase is far more important for wealth creation.
• Don't underestimate the value of accrued leave. If you have a large balance of long service leave that you would be paid out, leaving your job crystallizes that benefit. However, if you are close to an accrual milestone, it might be worth staying to reach it.
• The first year is a transition period. While this calculator focuses on the immediate financial change, you should also consider the long-term career trajectory. A job with a lower initial net gain might offer a much faster path to promotion and higher future earnings.

• Always try to negotiate. If the calculator shows a net negative change, use this data to ask the new employer if they can increase the salary or offer a sign-on bonus to bridge the gap.
• Ask for the new company's benefits policy in writing. This will help you accurately value things like parental leave, education allowances, or health insurance subsidies.
• Consider non-financial factors. A better work-life balance, a shorter commute, or a more positive work culture can be worth more than a small financial gain. Use this calculator as one tool in a larger decision-making process.