If you've been in post more than a year, a year of mat leave in the public sector breaks down to about half pay, provided you average it across the year and don't spend every penny as soon as it hits your bank account. It works out as slightly more than 50% if you take 9-10 months ML and use the annual leave you accrued to be paid full wage for 6-10 weeks at the end of your period of leave, depending on where you're up to in the annual leave year.
I had (data analyst
) colleagues (with parents providing free full time childcare) pulling a face saying I was lucky to be able to take the full year because they couldn't afford to take more than 9 months because their SMP finished at that time and they wouldn't have any money coming in, pure Jack maths. It was more cost effective for me to take full mat leave plus 2 years' worth of annual leave on full pay than go back to work any earlier and pay more than half of my take home salary out on childcare - which cost me £10k ish a year for 4 years and cost them literal zip. Yeah, lucky me in that scenario, I guess?
I'm not still salty over it but can't believe how many 'educated' people can't do basic financial planning and make life-changing decisions like quitting their job based on pre-conceived ideas, incorrect assumptions and an inability to divide a number by a figure of 12 or less.