Will I get paid less on monthly wage?
- Thread starter willhub
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Soldato
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doing it once every 4 weeks over once a month allows for a bit more consistency of when the pay roll is done, e.g. friday on the last week. once a month is a pain as the last day of the month could be saturday, which means it needs to be done a day earlier then normal one month, then maybe 2/3 the next, so it's harder to plan for
I'd assume it's simply because you get a more consistent and correct wage when you're working based on hourly conditions as 4 weeks will always be 4 weeks but a month varies in length both from a calander point of view and from the amount of working days you'll actually hit.
This will allow whoevers processing your timesheet to enter the same details every 4 weeks with the exception of those who have taken unpaid leave or worked overtime, which can be noted in a short list, assuming you work a consistent amount of time per week making it easier for them to do this, assuming it's being done / checked manually.
If you pay monthly and actually pay based on hour, you should be giving your staff a different amount every month based on an incosistent amount of works worked, but obviously if they're salaried you can happily work out their hourly based on the annual hours and then will need to do some math to square up with them when they quit on you.
In the end it doesn't matter. You should get paid what you're owed under any system and people who say "I like that I get paid twice in december" are people who are obviously crap at budgeting.
28th every month or the friday beforehand if the 28th falls on a weekend/bank holiday. Sure sometimes there is 5 weeks between two 28ths and sometimes there is 4 weeks (due to the weekend thing), but I don't really look at it on a monthly/weekly basis though, I see it as I get a set amount for 2013, they just happen to give it to me in monthly installments. The only time I get screwed is a leap year when they get an extra day of work out of me for free, but that's hardly something to get upset about
I'd assume it's simply because you get a more consistent and correct wage when you're working based on hourly conditions as 4 weeks will always be 4 weeks but a month varies in length both from a calander point of view and from the amount of working days you'll actually hit.
This will allow whoevers processing your timesheet to enter the same details every 4 weeks with the exception of those who have taken unpaid leave or worked overtime, which can be noted in a short list, assuming you work a consistent amount of time per week making it easier for them to do this, assuming it's being done / checked manually.
If you pay monthly and actually pay based on hour, you should be giving your staff a different amount every month based on an incosistent amount of works worked, but obviously if they're salaried you can happily work out their hourly based on the annual hours and then will need to do some math to square up with them when they quit on you.
In the end it doesn't matter. You should get paid what you're owed under any system and people who say "I like that I get paid twice in december" are people who are obviously crap at budgeting.
Yeah must be really complicated for these admin people to sort out monthly pay and taxes etc... I mean if only someone could invent an electronic machine they could put the data into which could then calculate things like this automatically
Yeah must be really complicated for these admin people to sort out monthly pay and taxes etc... I mean if only someone could invent an electronic machine they could put the data into which could then calculate things like this automatically
Exactly.
But I assumed the OP had moved to an annual salary (as he said he was going to be paid monthly), not per hour every 4 weeks so it makes a little more sense. An annual salary paid every 4 weeks would be daft but if he's still on an hourly rate then I can see why you might want to do it.
Soldato
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Was the £350 and £415 due to overtime?
At £242.50 a week for basic pay that would be £12610 a year, so if your salary for the same amount of hours that you would have worked to earn £242.50 is greater than that, then your pay has increased.
Look at your contact as well, it may or may not state how many hours per week/month you should work, it may just state business needs. If it does state a specific amount of hours then you can use that as a guide for what the pay would average for an hourly rate and can compare that to what you are paid now.