A guide to living expenses for an NHS employee

  • March 28, 2024
 

Navigating the financial landscape as an NHS employee, understanding various aspects, from pension contributions to childcare costs and general living expenses. In this blog, we'll break down essential information to help you manage your finances effectively.

Pension Contributions:
As an NHS employee, you contribute 13.5% of your income to the NHS Pension Scheme, with the NHS topping this up by 20.6%. These contributions are tax-free, reducing your taxable income. You can access a portion of your pension pot at the age of 55, with the remainder available upon retirement.

Childcare Costs:
Childcare options such as after-school clubs are available at most UK schools, typically running from 3:00 pm to 6:15 pm. Costs range from £10 to £20 per day on average, and you can utilize the tax-free childcare scheme to save up to 20% (up to £2,000 annually) on these expenses. Budgeting around £2,000 to £3,000 per year for part-time childcare is advisable.

Rents and Bills:
The cost of living in the UK, including rents and bills, varies by location. For instance, in areas like Bournemouth and Poole, rent for a 2-bed flat or terraced house near the hospital might range from £1,200 to £1,400 per month. Additional monthly expenses, including council tax, utilities, and internet, can total around £1,750 to £1,800.

General Costs:
Budgeting for phone contracts, groceries, and transportation is essential. Phone contracts typically range from £10 to £20 per month, while groceries may cost around £350 to £400 monthly for a healthy balanced diet. Transportation expenses, including car ownership costs and fuel, should also be considered.

Navigating Financial Decisions:
Opting out of the NHS Pension Scheme to increase take-home pay may seem tempting, but it's generally not advisable. Earning above £100,000 annually can result in losing tax-free allowances and government childcare benefits. Pensions become increasingly valuable in managing taxable income, particularly for senior doctors and consultants.

Conclusion:
Managing finances as an NHS employee requires careful planning and consideration of various expenses, including pension contributions, childcare costs, rent, bills, and general living expenses. By understanding these financial aspects, you can make informed decisions to ensure financial stability and well-being throughout your career.

 

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Relevant Jobs

£59,175 - £95,400

An NHS Trust in the South West of England is looking for a Specialty Doctor in Oncology with an interest in Acute Oncology and Chemotherapy Services. The Oncology department comprises a team of consultants, senior nursing staff, and a multidisciplinary team, supported by a large team of middle-grade doctors. This Oncology job is open to both international applications and UK-based doctors, though those with European Specialist qualifications or MRCP/MRCPath are most encouraged to apply.

Anyone requiring portfolio support (formally known as CESR) can have their required support discussed on a case-by-case basis.

JOB REQUIREMENTS AND DETAILS

At least four years of postgraduate training, including two years in a relevant specialty, and full GMC registration are required for this role. Anyone with an interest in Acute Oncology and Chemotherapy Services should apply. The salary will be between £59,175 and £95,400 dependent on experience or grade.

CORE DUTIES OF THIS ROLE

  • Provide continuity of care for patients being treated in the Oncology Day Unit and supervise patients admitted to medical wards with chemotherapy-related side effects.
  • Participate in Acute Oncology Service (AOS) and multidisciplinary team (MDT) meetings, liaising with consultants and specialist teams.
  • Supervise chemotherapy administration, assess patients prior to treatment, and follow up on recently discharged patients.
  • Support clinical trials by assisting in patient recruitment and follow-up.

LIFE IN THE SOUTH WEST OF ENGLAND

This Trust is based in a lively city in the South West, offering a mix of urban and coastal living, with popular residential areas including city suburbs and the countryside. The region provides excellent schools, strong transport links across the UK, and a range of cultural and recreational opportunities for professionals and families. The city has played a crucial role in British maritime and engineering history and continues to be a hub for innovation and creativity.


HOW WILL IMG CONNECT SUPPORT YOU?

When applying with IMG Connect you’ll have the full support of an expert recruitment team who will be your recruitment and relocation partners throughout the process. We\'ll support you with:

  • CV Preparation with a bespoke session with one of our specialists
  • Application support with expert knowledge of NHS specialisms & recruitment practice
  • At least two video calling interview preparation sessions
  • Contract and offer negotiations for salary, relocation packages, tenure and more

Once you have accepted your new role, you’ll then be supported and led throughout by one of our dedicated relocation executives who will guide you through all the way to starting your new role including:

  • Document gathering and checking
  • COS and Visa Application support if applicable
  • Support sourcing short- and long-term accommodation
  • Travel Arrangements
  • Family support for finding schools and any other aspects of pastoral care
£96,990 - £107,155

An NHS Trust in the West Midlands is looking for a Specialist Doctor in Clinical Oncology with an interest in Neuro-Oncology and Lower-GI cancers or Lung and thoracic malignancies. The Oncology department comprises a team of over 20 consultants and is supported by a large team of middle-grade doctors. This Oncology job is open to both international applications and UK-based doctors, though those with European Specialist qualifications or FRCR are most encouraged to apply.

Anyone requiring portfolio support (formally known as CESR) can have their required support discussed on a case-by-case basis.

JOB REQUIREMENTS AND DETAILS

10 years of oncology experience in a middle-grade role and full GMC registration are required for this role, and anyone with an interest in Neuro-Oncology and Lower-GI cancers or Lung and thoracic malignancies should apply. The salary will be between £96,990 and £107,155 dependent on experience or grade.

CORE DUTIES OF THIS ROLE

  • Provide specialist Clinical Oncology input, including expertise in radiotherapy and Systemic Anti-Cancer Therapy (SACT).
  • Support site-specific MDTs (Multidisciplinary Teams) in either Neuro-Oncology and Lower-GI cancers or Lung and thoracic malignancies.
  • Deliver outpatient and inpatient care, including radiotherapy planning and chemotherapy prescribing.
  • Contribute to the Acute Oncology Service and provide ward inpatient care.

LIFE IN THE WEST MIDLANDS

This Trust is located in a major city in the West Midlands, offering easy access to both vibrant urban areas and picturesque rural locations. Popular residential areas nearby include a mix of city living and countryside retreats. The region offers excellent schools, strong transport links to major UK cities, and a range of cultural, shopping, and leisure options. Historically, this area has played a vital role in Britain\'s industrial and automotive history and is home to a number of significant landmarks.


HOW WILL IMG CONNECT SUPPORT YOU?

When applying with IMG Connect you’ll have the full support of an expert recruitment team who will be your recruitment and relocation partners throughout the process. We\'ll support you with:

  • CV Preparation with a bespoke session with one of our specialists
  • Application support with expert knowledge of NHS specialisms & recruitment practice
  • At least two video calling interview preparation sessions
  • Contract and offer negotiations for salary, relocation packages, tenure and more

Once you have accepted your new role, you’ll then be supported and led throughout by one of our dedicated relocation executives who will guide you through all the way to starting your new role including:

  • Document gathering and checking
  • COS and Visa Application support if applicable
  • Support sourcing short- and long-term accommodation
  • Travel Arrangements
  • Family support for finding schools and any other aspects of pastoral care
£96,990 - £107,155 N/A

An NHS Trust in the West Midlands is looking for a Specialist Doctor in Clinical Oncology with an interest in Neuro-Oncology and Lower-GI cancers. The Oncology department comprises a team of over 20 consultants and is supported by a large team of middle-grade doctors. This Oncology job is open to both international applications and UK-based doctors, though those with European Specialist qualifications or FRCR are most encouraged to apply.

Anyone requiring portfolio support (formally known as CESR) can have their required support discussed on a case-by-case basis.

JOB REQUIREMENTS AND DETAILS

10 years of oncology experience in a middle-grade role and full GMC registration are required for this role, and anyone with an interest in Neuro-Oncology and Lower GI should apply. The salary will be between £96,990 and £107,155 dependent on experience or grade.

CORE DUTIES OF THIS ROLE

  • Provide specialist Clinical Oncology input, including expertise in radiotherapy and Systemic Anti-Cancer Therapy (SACT).
  • Support site-specific MDTs (Multidisciplinary Teams) in Neuro-Oncology and Lower-GI cancers.
  • Deliver outpatient and inpatient care, including radiotherapy planning and chemotherapy prescribing.
  • Contribute to the Acute Oncology Service and provide ward inpatient care.

LIFE IN THE WEST MIDLANDS

This Trust is located in a major city in the West Midlands, offering easy access to both vibrant urban areas and picturesque rural locations. Popular residential areas nearby include a mix of city living and countryside retreats. The region offers excellent schools, strong transport links to major UK cities, and a range of cultural, shopping, and leisure options. Historically, this area has played a vital role in Britain\'s industrial and automotive history and is home to a number of significant landmarks.


HOW WILL IMG CONNECT SUPPORT YOU?

When applying with IMG Connect you’ll have the full support of an expert recruitment team who will be your recruitment and relocation partners throughout the process. We\'ll support you with:

  • CV Preparation with a bespoke session with one of our specialists
  • Application support with expert knowledge of NHS specialisms & recruitment practice
  • At least two video calling interview preparation sessions
  • Contract and offer negotiations for salary, relocation packages, tenure and more

Once you have accepted your new role, you’ll then be supported and led throughout by one of our dedicated relocation executives who will guide you through all the way to starting your new role including:

  • Document gathering and checking
  • COS and Visa Application support if applicable
  • Support sourcing short- and long-term accommodation
  • Travel Arrangements
  • Family support for finding schools and any other aspects of pastoral care

HOW WILL IMG CONNECT SUPPORT YOU?

When applying with IMG Connect you’ll have the full support of an expert recruitment team who will be your recruitment and relocation partners throughout the process. We\'ll support you with:

  • CV Preparation with a bespoke session with one of our specialists
  • Application support with expert knowledge of NHS specialisms & recruitment practice
  • At least two video calling interview preparation sessions
  • Contract and offer negotiations for salary, relocation packages, tenure and more

Once you have accepted your new role, you’ll then be supported and led throughout by one of our dedicated relocation executives who will guide you through all the way to starting your new role including:

  • Document gathering and checking
  • COS and Visa Application support if applicable
  • Support sourcing short- and long-term accommodation
  • Travel Arrangements
  • Family support for finding schools and any other aspects of pastoral care
105,504 to 139,882

A leading NHS hospital in South West England is looking for a Consultant in Histopathology with an interest in general histopathology and non-gynae cytology, with opportunities to develop a special interest. The Histopathology department consists of a team of highly experienced consultants, supported by middle-grade doctors. This Histopathology job is open to both international and UK-based applicants, though those with FRCPath or equivalent qualifications are particularly encouraged to apply.

Anyone requiring portfolio support (formally known as CESR) can have their required support discussed on a case-by-case basis.

JOB REQUIREMENTS AND DETAILS

FRCPath or equivalent qualification and CCT within 6 months of interview (or international equivalent) with experience in general histopathology and non-gynae cytology are required for this role, and The salary will be between the standard NHS Consultant pay scale, with salary dependent on experience or grade.

CORE DUTIES OF THIS ROLE

  • Provide high-quality histopathology and non-gynae cytology diagnostics.
  • Participate in MDT meetings and offer expert histopathological opinions.
  • Engage in teaching and mentorship of junior doctors and medical students.
  • Contribute to audit, governance, and quality assurance initiatives.

LIFE IN SOUTH WEST ENGLAND

This hospital is located in a thriving town in South West England, offering urban living with access to quieter rural surroundings. The region provides excellent schools, strong transport links to major cities, and a variety of recreational activities, including beaches, national parks, and cultural festivals.

Historically, the area is known for its medieval landmarks, natural beauty, and rich cultural heritage, making it an excellent location for both professional and personal life.

HOW WILL IMG CONNECT SUPPORT YOU?

When applying with IMG Connect you’ll have the full support of an expert recruitment team who will be your recruitment and relocation partners throughout the process. We\'ll support you with:

  • CV Preparation with a bespoke session with one of our specialists
  • Application support with expert knowledge of NHS specialisms & recruitment practice
  • At least two video calling interview preparation sessions
  • Contract and offer negotiations for salary, relocation packages, tenure, and more

Once you have accepted your new role, you’ll then be supported and led throughout by one of our dedicated relocation executives who will guide you through all the way to starting your new role, including:

  • Document gathering and checking
  • COS and Visa Application support if applicable
  • Support sourcing short- and long-term accommodation
  • Travel Arrangements
  • Family support for finding schools and any other aspects of pastoral care
105,504- 139,882
An NHS Trust in South East England is looking for a Consultant in Medical Oncology with an interest in Lower Gastrointestinal & Gynaecological cancers . The Oncology department comprises a team of consultants and is supported by a large team of specialty doctors and clinical fellows. This Medical Oncology job is open to both international applications and UK-based doctors, though those with European Specialist qualifications or FRCR/MRCP are most encouraged to apply.

Anyone requiring portfolio support (formally known as CESR) can have their required support discussed on a case-by-case basis.

JOB REQUIREMENTS AND DETAILS

Full GMC registration, FRCR/MRCP (or equivalent), and oncology experience at SpR or equivalent level are required for this role. Anyone with an interest in Gynaecological cancers and dependent on experience or grade.

CORE DUTIES OF THIS ROLE

Provide high-quality oncology services, including radiotherapy and chemotherapy.
Participate in multidisciplinary team meetings and provide leadership for tumour site specialisations.
Supervise and mentor junior medical staff and actively contribute to teaching and research initiatives.
Engage in clinical governance and audit activities to ensure high standards of patient care.

LIFE IN KENT

Kent, known as \"The Garden of England,\" offers a mix of lively urban areas and tranquil rural settings. Canterbury is a vibrant city with a rich history and excellent amenities, while the surrounding countryside provides peaceful rural living options. The region boasts excellent schools, strong transport links to London and the continent, and a variety of leisure activities including historic landmarks, coastal attractions, and cultural festivals. Kent\'s historical significance as a cornerstone of England\'s heritage adds to its charm.

HOW WILL IMG CONNECT SUPPORT YOU?*

When applying with IMG Connect, you’ll have the full support of an expert recruitment team who will be your recruitment and relocation partners throughout the process. We\'ll support you with:

-CV preparation with a bespoke session with one of our specialists.
-Application support with expert knowledge of NHS specialisms and recruitment practices.
-At least two video-calling interview preparation sessions.
-Contract and offer negotiations for salary, relocation packages, tenure, and more.
-Once you have accepted your new role, you’ll then be supported and guided throughout by one of our dedicated relocation executives, including:
-Document gathering and checking.
-COS and visa application support if applicable.
-Assistance with sourcing short- and long-term accommodation.
-Travel arrangements.
-Family support for finding schools and other aspects of pastoral care.



 

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