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> They set a mandatory percentage of your wage which must be put into superannuation For further clarification, it's the employer who has to pay the super cont
by SturgeonsLaw 4y ago
> They set a mandatory percentage of your wage which must be put into superannuation
For further clarification, it's the employer who has to pay the super contribution, not the worker.
And if anyone is about to claim "same thing, if the employer didn't have to pay that, they would pay it out as additional wages", my only response is a heartfelt "lol".
- JenrHywy 4y agoI think "lol" needs to be expanded a bit to be convincing. I can't see how it is not the same thing. The employer looks at the total cost of employment and works out if it's worth hiring someone. If that cost is 10% higher because of super, that means there is 10% less to go to (direct) wages. Now granted, that will differ at different points in the labour market. For minimum wage jobs, I agree that employers wouldn't suddenly start paying 10% above award if super was scrapped.
- jay_kyburz 4y agoI haven't changed jobs much in my career, but when talking about pay I still find people need to be explicit if they are talking about including or excluding super. Most jobs advertise the pay excluding super, but some will quote total package.
- JenrHywy 4y agoYeah, that's particularly the case if you're contracting: they'll advertise the hourly pre-super rate more often than not.