Monthley pay?

Question

am i getting ripped off getting paid monthley

Answer 1

What is your question?

Answer 2

Maybe. Ask your boss.

Answer 3

Traditionally 'Staff' jobs were paid monthly whilst 'Manual' jobs were paid weekly ..

It was assumed that 'Staff' had sufficient intelligence to manage their affairs on a monthly basis, whilst 'Manual workers' did not - i.e. Manual workers, who lived 'hand to mouth', would spend every penny they got each week .. so if they were paid monthly, they would gorge the first week, and starve the next 3 (not good, since you can't get much work out of dead workers :-) )

SO .. if you are paid monthly, plainly they think you are 'Staff' level :-)

Most places pay 'in arrears' ..  in the old days, you would typically get paid in (or just after) the middle of the month - i.e. on the 15th (2 weeks 'in arrears' & 2 weeks 'in advance') .. however this caused all sorts of problems when people left without giving notice (not to mention the effect on cash flow), so these days, most places pay 'just in time' so that your wages reaches your Bank account on the last Banking day of each month....

To make things easy for Wages Dept. you get 1/12trh of your Annual Salary each calender month (i.e. you get paid for 265.25**/12 = 30.4375 days each month, irrespective of the number of actual or working days in that month)...... this means you are 'ahead' in short (30 days) months and behind in long (31 day)  Months ...

The month you join (or leave) they start working out actual working days .... (most places pay you you normal salary times 'actual days worked in this month' divided by 'actual (ie. possible) working days in this month'

**356.25 = 365 1/4 i.e. including the extra 1 day (leap year) in every 4 years ...