Hey all,
Hopefully you've all been able to log into our blog here succesfully. I want to use this blog as a way to communicate to all of you any information that comes up regarding your Apprenticeship.
One question that has come up is in regards to the recent adjustments to your compensation worksheets. I realize some of this is confusing, I myself am having quite the time understanding it all.
Here's what you need to know: when we talked about the Apprenticeship, we agreed and advertised that you would raise $10,000 for 6 months. That has not changed. In fact, the recent updates have been sent as a direct result of making sure that we deliver on that arrangement. The first round of paperwork would have required you raise almost $13,000 due to some standard HR policies we have here at AIM. In my effort to make sure that our arrangement is honored, I had the compensation contracts redrawn to reflect what we agreed on: $10,000.
Now I don't pretend to understand how all of the HR ins and outs work, but there are a few things that may help understand how we got to where we are:
1) I told you that $1,000 of your $10,000 would be used toward the Apprenticeship Program itself. I have asked HR to spread that across the 6 months so it doesn't hit all at once. As such, $83.33 will hit your support account every pay period (twice per month, $166.67 per month) to contribute to that cost.
2) The remaining $9,000 will go to you as gross salary. This means you will "recieve" (loose term there) $1,500 per month less taxes and fees. I cannot tell you exactly how much will be taken out of that amount per month as each person's tax filings will alter it slightly. Your Social Security, Medicare and other Gov't taxes will all be applied per standard HR procedure. I would expect that many of you would get around $1,200 per month (but again, please don't hold me to that as it's a rough estimate) as net pay.
This means that each month your support raising goal should be: $1,500 salary + $166.67 Apprenticeship cost = $1,666.67 per month.
Your compensation worksheet will look a little funny, but you can look at it to see how everything is allocated (less the specific additional taxes that will hit each month). If you have any questions regarding your compensation, get in touch with Lynette Lee ([email protected]), Ashley or myself and we'll try to explain it to you.
I look forward to seeing all of you in the next couple weeks. Remember we kick our new October team off starting Monday, October 25th 9:00am at the AIM office. Come ready for staff worship, meeting and teaching from Michael HIndes.
