158
submitted 1 year ago by Blizzard@lemmy.zip to c/asklemmy@lemmy.ml

I think this is mostly a US thing. Why use yearly salary? You're not paid once a year, are you? Most likely once a month. Referencing monthly salary makes much more sense.

"I'm making 50k". Great, now I have to guess - dollars? Monthly? Yearly? If yearly then what's the monthly paycheck? Net? Gross?

(page 3) 48 comments
sorted by: hot top controversial new old
[-] Acters@lemmy.world 3 points 1 year ago

If you know the yearly, then that is the allotted amount in the company budget for you. So, in the big picture, you are being paid yearly. Especially if you are salary or contract. I have switched to making a yearly budget with monthly categories, and the yearly costs are much easier to factor into. My budget became more simplified and less stressful. Also, another benefit is that I save for an average cost that is usually higher than most months, and the high cost months are less troublesome to plan for.

I try to calculate net income: deductions and taxes removed from gross income. Overall, I feel better as I can plan ahead of time and don't need to do it every month. Still need to keep an eye on following the plan and for anything that changes it. I don't just plan it either, I execute it.

[-] Zephyr@reddthat.com 2 points 1 year ago

Many US jobs are based off an hourly rate, some with overtime (usually not added in). I noticed other posters mentioned Xmas bonus. As an hourly worker I received a standard 3% yearly raise to cover increased costs of living. Because our cost of living increase was nearly double that, our salary actually declined. Oh and that Xmas bonus... If you count a 25$ gift card to Walmart a bonus...

Pretty shit, but it could be worse.

[-] ZapBeebz_@lemmy.world 2 points 1 year ago

Federal Government can be nice because I'm salaried, but also get time and a half for OT, so I get the best of both worlds. On the other hand, we don't get performance bonuses, and our yearly COLA takes a literal act of Congress to decide on the percentage.

[-] MomoTimeToDie@sh.itjust.works 1 points 1 year ago

What agency? But from talking to the other people I work with, it's unusual if your boss doesn't put you in for some cash award a few times a year for me

[-] Agent641@lemmy.world 1 points 1 year ago

In Australia we mostly get paid weekly.

load more comments (5 replies)
load more comments
view more: ‹ prev next ›
this post was submitted on 01 Sep 2023
158 points (99.4% liked)

Asklemmy

44295 readers
693 users here now

A loosely moderated place to ask open-ended questions

Search asklemmy 🔍

If your post meets the following criteria, it's welcome here!

  1. Open-ended question
  2. Not offensive: at this point, we do not have the bandwidth to moderate overtly political discussions. Assume best intent and be excellent to each other.
  3. Not regarding using or support for Lemmy: context, see the list of support communities and tools for finding communities below
  4. Not ad nauseam inducing: please make sure it is a question that would be new to most members
  5. An actual topic of discussion

Looking for support?

Looking for a community?

~Icon~ ~by~ ~@Double_A@discuss.tchncs.de~

founded 5 years ago
MODERATORS