Will I get paid less on monthly wage?

willhub

willhub

willhub

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Chadderton, Oldham
So I might get going permanent at the end of June after my 6 months are up, and if I do I'll be going to monthly pay.

Now will this mean I get paid less?

As far as I can see sometimes there are 5 fridays in the month, so I could get paid 242*5 which is 1212.5, but if my salary was £970 a month then I'd be paid less?? Or is it still based on hours worked? Hopefully I'm not going to be paid less and am just being really dumb?

Thanks.
 
Hmm...the way I worked it out was to look at it over the year.

242*52 (fifty two weeks in a year) gives you over 12k per annum.

907*12 however is less than that (about 11.6k).

So yes! You're bloody well getting ripped!
 
If your hourly rate (or salary) doesn't change then why would your wages? Have they told you your monthly wage is £970?

Edit: Hang on 970 is 242.50 x 4, surely they'll be paying you four weekly
 
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I used to get paid every month then it changed to 4 weekly. I got less per pay check but over the year its still the same, the bills and other things were not affected, as long as you make sure you keep track of the money you get. The bonus is, in December i get paid twice now :-)
 
I get paid every 4 weeks. It's a bit of a pain in terms of direct debits because I can't set things to come out the week after I get paid, every 'month' is different. On the plus side, with each DD that you have, there will be one month of each year that you don't have to pay it because your 28 pay day cycle falls twice within the monthly DD payment.
 
I seem to remember you work for RBS in Manchester? If so, when I worked there, you got paid around the 20th of each month but each payday you get paid for the 1st to last day of that month. So your wage should be the same as before and should only vary by a maximum of 3 days wages per month (min 28 days, max 31 days per month).
 
willhub said:
As far as I can see sometimes there are 5 fridays in the month, so I could get paid 242*5 which is 1212.5, but if my salary was £970 a month then I'd be paid less?? Or is it still based on hours worked? Hopefully I'm not going to be paid less and am just being really dumb?

Thanks.
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Nothing to do with how many Fridays there are in the month.

How often were you paid before (weekly, 4 weekly) and how much?
 
Richie said:
Nothing to do with how many Fridays there are in the month.

How often were you paid before (weekly, 4 weekly) and how much?
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242.5 a week, so last month I got paid 242.5, 242.5, 350 & 415, 242.5

DanTheMan said:
I seem to remember you work for RBS in Manchester? If so, when I worked there, you got paid around the 20th of each month but each payday you get paid for the 1st to last day of that month. So your wage should be the same as before and should only vary by a maximum of 3 days wages per month (min 28 days, max 31 days per month).
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Loosing 3 days would suck, that's like 100 quid + :(
 
I used to get paid every 4 weeks. That extra paycheque was always awesome. I do like being able to set all my direct debits for one week though. I probably budgeted better on my 4 weekly pay, but monthly is where it's at.
 
willhub said:
242.5 a week, so last month I got paid 242.5, 242.5, 350 & 415, 242.5
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If you get paid £242.50/week (assuming the 350 and 415 were overtime or something?) then your new wage would be:

(£242.50*52)/12
=(£12,610)/12

=£1,050.83 per month
 
I get paid the same regardless of how many Thursdays are in a month. It's a bit of a pain when there are five because it feels like I'm not getting paid for the fifth week, but the way I get paid is salary / 12. So I just get a flat amount each month. I'm sure it's the same for most people.
 
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