Sure I see that there are five Fridays next month, with three paydays, but at the end of the year am I making more money?
8 replies (most recent on top)
I hope you are not a math or accounting instructor.
Einstein's? Einstein's what? The apostrophe is for possession, Einstein.
Is this really that hard and it's own topic? No wonder company is going down with all these Einstein's
I'll give it a shot. Our annual pay is divided into 26 pay periods. We have 12 months X 2 = 24 so we end up with 2 months that have an extra paycheck. The point is that most people pay their bills once a month, so losing 50% of one out of three paychecks should still give you the funds to keep your budget for the month. So you're still getting one week unpaid (or working two weeks at 50%) but they are saying it's happening in a good month, budget wise.
Depends I'd it's prorated or not.
Simple...you will get 3 checks this month but one will have a 10% pay reduction, one will include a 50% pay reduction (one week furlough) and the last one will be a 100% reduction (because of the RIF). Please see HR if you have any questions, as always, We at CCI are here to serve you.
365 / 7days = 52 weeks /2 =26 checks a year. 2 months a year you get 3 checks vs just 2.
We used to be paid on the 1st and the 15th. When we went to every other Friday pay days, we were told by our HR rep that the paychecks would be less each pay period to account for the two extra paydays. They're just trying to justify taking money from us.