What's with telling YEARLY salaries?
What's with telling YEARLY salaries?
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?
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Often in the US we’re quoted yearly salaries by businesses for full-time positions. They will hire us for, say, $52k per year, and that will be given as $2,000 every 2 weeks. But then if we get a $500/yr raise, they don’t tell us what the new rate is on the paycheck: we have to log into the account and see the pay stub to know what our hourly rates and biweekly paychecks actually are.
Typically, it’s hourly quotes for part-time and often full-time salaried workers, and yearly quotes for full-time, especially salary exempt. Personally, I get a yearly quote, and have to look up my stub to see what the hourly or my two week gross are.
Divide your annual salary by 2080 hours/year for the hourly rate.
What if I work more or less than 40 hours per week? Now I have to specify my hourly rate and how many hours per year I work. It's more math just to get to the same number for yearly income.
The 2080 assumes you’re salaried at the normal 40 hours per week rate. Salaried employees don’t get a variable amount each week if you work more or less hours than normal.
That's not necessarily true. As the comment above mentioned, it's uncommon, but non-exempt salaried positions do exist where, yes, you would be paid more if working overtime even as a salaried position.
Right, so the general rule stands.