Monthly or weekly pay? Fixed or percentage earning? what is your prefrence.

isaac_clarke22

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Quote from: kawetsriyanto on March 07, 2023, 04:21:20 PM

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It's usually cost less to just run the payroll monthly and that is why many companies preferred that instead. If you're budgeting your money just really well, you're going to be more than okay in just monthly payment unless of course it is underpay which is a matter of another discussion.

Bills and other payments that needs to be paid comes into my mind at first when I tend to earn my paycheck since I know that it will bite me in the ass at the end.

kawetsriyanto

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If I can get a weekly payment, I prefer a weekly payment. It will be easier to manage my financial cash flow. I also won't spend much money because I get a smaller payment if it is paid for weekly. While if it is paid monthly, the amount of money will be bigger, there is a chance to spend the money faster. I'm a bit worried about being more extravagant. Grin

However, in most cases, we can't determine whether to get a weekly payment or a monthly payment. Commonly, we get a monthly payment and that is the standard payroll time in my country. A weekly payment makes the company busier, so it will be more efficient to give the payment weekly.

blockman

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Quote from: Mozzart on March 07, 2023, 02:44:23 PM

Indeed in many countries,most people receive a salary once a month and many are used to it and agree with it.I work as a freelancer and get paid only for the work done and I like it that you don’t have to wait long but you pay immediately for the result.

You are an output-based worker and you've got more free time for yourself, your family, and other hobbies that you want to do.

Quote from: Mozzart on March 07, 2023, 02:44:23 PM

But still the salary once a month has advantages,since it is easier to plan your budget.

That's the advantage of having a fixed salary per month or bi-weekly. You know your budget and you know where you should spend first what you've got.
Although there's a limit to your income, if you're used to your job and you can still do some other things, you can look for a 2nd job or 3rd depending on where you live, and spend those time of yours wisely to an income generated part-time job and it's such a jackpot if you're earning it through your passion.
Negotiations are only at the beginning and there will be some reviews maybe after 6 months that's the only way you'll increase your wage depending on your company's capacity.

Lanatsa

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Quote from: Mozzart on March 07, 2023, 02:44:23 PM

Indeed in many countries,most people receive a salary once a month and many are used to it and agree with it.I work as a freelancer and get paid only for the work done and I like it that you don’t have to wait long but you pay immediately for the result.But still the salary once a month has advantages,since it is easier to plan your budget.

When it comes to budgeting then it would really be that much difference whether you are really that receiving your salary on monthly or weekly or every 15 days.It wont matter because if you do have a budget

plan then it would really be still depending on you whether you are really that following that or not.If you are receiving your pay on early basis then it is really just that understandable on what are your priorities
or bills need up to be paid.It is really just all the same, the only difference on here is that on the time that you are receiving your salary on early durations is that you could really pay up something on time or in advance or when you do have money then you could also pull it off in case you do need it compared when you are just waiting for a month before you could grab it out but well it does have its pro's and
con's too but it would be totally depending on how someone would manage out their finances when it comes to this.It is really just that someones preference or people doesnt really
have any choice when their employer does have that kind of set up.

panganib999

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Quote from: Uruhara on March 07, 2023, 11:21:31 AM

Quote from: panganib999 on February 19, 2023, 01:03:53 PM

In any case, As a freelancer I would remain choosing commissions-based pay, since with consistent effort and trust from your clients, you can easily make a living and have savings to boot in this industry, however, it is something that I would not recommend for everyone, especially ones that seek to be employed in order to pay off debts, get by on a daily basis, or to support their families. It is not reliable enough to perform and offer all those three, plus it takes experience and some confidence to break away from the 9-5 cycle in order to be successful here. So I suggest people who aspire to freelance to gather up experience and years first, before jumping into this industry, and wishing for commission-based payments.

I really like what you have conveyed in your writing. and the advice you say is also very reasonable and seems to be reliable. Becoming a Freelancer is indeed not as easy as imagined by people who have not tried it. Because Freelancers are required to work harder and continue to develop themselves so they can have more income. it takes patience and tenacity. but on the one hand this work also offers freedom. but indeed not everyone can do this type of work and pay. it takes a mentality that is strong enough also in this job.

Well, what I wrote about pretty much comes from experience really. I've been stuck in this deadend job at a call center for a good while, and while in there I relished about the times that I could enjoy my life without being dependent on if my leaves will be permitted. This drove me to take on freelancing, and I shit you not was it one of the worst and the best decisions of my life. It took me more or less a year to build reputation and gain consistent stream of clients since the services I offer aren't what you would consider an essential in the corporate setting. So I pretty much had to live most of my early freelancing days on instant ramen and baked mac and cheese if I feel like balling a little. Til then things just got a little easier for me, and it has led me to this freedom and financial capacity that I currently enjoy.

Mozzart

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Indeed in many countries,most people receive a salary once a month and many are used to it and agree with it.I work as a freelancer and get paid only for the work done and I like it that you don’t have to wait long but you pay immediately for the result.But still the salary once a month has advantages,since it is easier to plan your budget.

Uruhara

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Quote from: panganib999 on February 19, 2023, 01:03:53 PM

In any case, As a freelancer I would remain choosing commissions-based pay, since with consistent effort and trust from your clients, you can easily make a living and have savings to boot in this industry, however, it is something that I would not recommend for everyone, especially ones that seek to be employed in order to pay off debts, get by on a daily basis, or to support their families. It is not reliable enough to perform and offer all those three, plus it takes experience and some confidence to break away from the 9-5 cycle in order to be successful here. So I suggest people who aspire to freelance to gather up experience and years first, before jumping into this industry, and wishing for commission-based payments.

I really like what you have conveyed in your writing. and the advice you say is also very reasonable and seems to be reliable. Becoming a Freelancer is indeed not as easy as imagined by people who have not tried it. Because Freelancers are required to work harder and continue to develop themselves so they can have more income. it takes patience and tenacity. but on the one hand this work also offers freedom. but indeed not everyone can do this type of work and pay. it takes a mentality that is strong enough also in this job.

AnonBitCoiner

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In our country the government job provides income on monthly basis and there are some private job which also offer monthly based salary, so according to rules and regulation If a person leave its job for single day without any solid reason then there is cutting of salary for one day.

Monthly based salary will be preferable because in such type of salary month can spend easily and in large sum of month work can do which cannot be done in minimum sum of week. In our country individuals work for part time instead of monthly salary to make their life easy and to complete their wishes.

panganib999

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There are pros and cons to both. Incidentally, most people who have been accustomed to the pay nature of a regular 9-5 would prefer the consistent pay compared to percentage earnings. For reference I listed down the pros and cons of each options, and why they both appeal to the public.

Weekly Pay Pros

Consistent dependable pay

Weekly Pay Cons

Insinuates the habit of spending, since "you can always depend on next week's pay anyway"
Will activate a positive feedback cycle on your psyche that will disable you from every being able to save money
Is mostly used by corporations to trap their employees to live paycheck to paycheck

Monthly Pay Pros

Large enough to encourage spending
Inspires the habit of saving money

Monthly Pay Cons

Is not as dependable as a weekly paycheck
Will probably not work for first-time employees since they heavily depend on a consistent and regular pay

Fixed Pay Grade Pros

Salary deductions are easily trackable
dependable and regular

Fixed Pay Cons

No opportunity for growth, since salary will stay the same throughout your career
Is unreliable against inflation

Percentage/Commission Pay Pros

High enough to help you save
Is probably the best way to get paid

Percentage/Commission Pay Cons

Highly dependent upon one's efforts and sales skills
Not as reliable as fixed salary, lack of sales means lack of pay

In any case, As a freelancer I would remain choosing commissions-based pay, since with consistent effort and trust from your clients, you can easily make a living and have savings to boot in this industry, however, it is something that I would not recommend for everyone, especially ones that seek to be employed in order to pay off debts, get by on a daily basis, or to support their families. It is not reliable enough to perform and offer all those three, plus it takes experience and some confidence to break away from the 9-5 cycle in order to be successful here. So I suggest people who aspire to freelance to gather up experience and years first, before jumping into this industry, and wishing for commission-based payments.

WatChe

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Quote from: doomloop on February 15, 2023, 02:49:50 PM

It is different for me, when I get weekly I fail to live according to how I should, monthly is better. My expenses are monthly, rent, electricity, internet, phone, heating, water, everything is monthly, so I should be getting monthly as well. I have been doing a lot better that way and it's easier to manage.

However, companies are even harder, they make money based on each sale, so if they are doing good, that's not confusing, but there are some who make a ton sometimes, and then for a few months make nothing, making sure that runs is a very difficult one, like make 30k a month, then nothing for 3 months, how do you manage to live like that? I wouldn't be able to.

Companies offer pay package that suits them not the other way round. The country where I live people are paid on monthly basis. There are very few companies that share there profit with there employees majority of companies these days offer fixed pay package.
If I have to choose between monthly or weekly packages, I will go with monthly since that's how the complete ecosystem works. Fixed pay is the best option if you have to do a job. If you are thinking big go for your own business.

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Quote from: Mahanton on February 18, 2023, 03:31:02 PM

Quote from: S A KHAIR on February 18, 2023, 10:43:22 AM

Quote from: Asiska02 on February 18, 2023, 08:49:50 AM

Quote from: Rruchi man on February 02, 2023, 05:22:29 AM

There are two categories of people when it comes to the choice of when to receive payment for work. There is the category that prefers it be paid weekly so they can off set bills as they come so they do not become a burden, while there is the category that prefers it monthly so they can plan well for the month.

If employers put out the option before you to either to be paid weekly or monthly for your job, which will you prefer? Please give reasons asides the ones I have stated to support your answer.

I'll undoubtedly choose weekly pay and will do so a thousand times because I'm very comfortable with it. Having a weekly pay helps you minimize your wants and unnecessary spending because you know you'll be limited to a certain pay for that week when compared to receiving times 4 of that amount on a monthly basis. Weekly pay relieves the stress of having to accumulate to pay taxes or settle debts, so it's a better option for me than monthly pay.

Monthly salary or weekly salary makes no difference, what you are talking about is just your spending plan. If you adjust your spending plan monthly, it won't make any difference, as your salary won't change. I never thought of this because I always have a plan when I receive my monthly salary or my spending plan will change when the pay period changes.

If we do speak only about monthly or weekly salary then its true about having that spending plan would really be that relevant but if we do speak about fixed and commission based then it would really be all the difference.We do know that not all people would really be good on marketing on something and if you are really just depending or basing up on commissions then you would be finding yourself getting fucked up
if you dont have any sales thats why its never really be that the same if we do speak about sustainability.This is why lots of people would really be basing or preferring on sticking with
fixed salary rather than on commission based whether it would be monthly or weekly pay then there's no difference.

Base salary and commission-based pay are another matter. If it were me, I would choose the basic salary because I have a family, and I need a stable income to take care of my family. I think the commission based salary will suit young, unmarried people who can challenge to achieve bigger things.

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Quote from: AicecreaME on February 17, 2023, 07:08:45 AM

I would prefer weekly payment, so that I could save early and I can easily set a budget for everything per week. Also the other reason is that just in case some emergency happens and I needed the money, I will not borrow from my friends or the last choice would be in bank that will just give me another problem because of the interest.

For me weekly salary is much better because that would help me as well to relax, like I can see my hard work finally pays off, especially when you just started a job, it feels great.

However, that too with the condition that the salary you receive is in accordance with the minimum wage where you come from. even then if it meets all your basic needs, if not, you automatically have to find a more decent job with an appropriate salary. Or, you have to find a second job to meet your basic basic needs.

Amid the turmoil of the crisis that hit the world economy, to get a decent job with a fairly high salary is something that is rare. even if you have a high degree plus experience. There is no guarantee that you will get a good job, especially with a high salary. but in the end, it all depends on the choice you like, whether it's a weekly or monthly salary, it's all up to what you expect and want.

Nevertheless, the main problem is, how can we get a decent job according to the skills we have, especially with a relatively high salary. the issue of weekly payments or monthly payments for me is the same. most importantly, have a job and income in accordance with the skills we have.

Mahanton

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Quote from: S A KHAIR on February 18, 2023, 10:43:22 AM

Quote from: Asiska02 on February 18, 2023, 08:49:50 AM

Quote from: Rruchi man on February 02, 2023, 05:22:29 AM

There are two categories of people when it comes to the choice of when to receive payment for work. There is the category that prefers it be paid weekly so they can off set bills as they come so they do not become a burden, while there is the category that prefers it monthly so they can plan well for the month.

If employers put out the option before you to either to be paid weekly or monthly for your job, which will you prefer? Please give reasons asides the ones I have stated to support your answer.

I'll undoubtedly choose weekly pay and will do so a thousand times because I'm very comfortable with it. Having a weekly pay helps you minimize your wants and unnecessary spending because you know you'll be limited to a certain pay for that week when compared to receiving times 4 of that amount on a monthly basis. Weekly pay relieves the stress of having to accumulate to pay taxes or settle debts, so it's a better option for me than monthly pay.

Monthly salary or weekly salary makes no difference, what you are talking about is just your spending plan. If you adjust your spending plan monthly, it won't make any difference, as your salary won't change. I never thought of this because I always have a plan when I receive my monthly salary or my spending plan will change when the pay period changes.

If we do speak only about monthly or weekly salary then its true about having that spending plan would really be that relevant but if we do speak about fixed and commission based then it would really be all the difference.We do know that not all people would really be good on marketing on something and if you are really just depending or basing up on commissions then you would be finding yourself getting fucked up
if you dont have any sales thats why its never really be that the same if we do speak about sustainability.This is why lots of people would really be basing or preferring on sticking with
fixed salary rather than on commission based whether it would be monthly or weekly pay then there's no difference.

Bobrox

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Based on my country regulation have monthly payment for every companies and seems worth or excited when have boss will give weekly payment, I think depend on manager and staff agreement about their salary payment kinds with weekly or monthly but I think good priority for worker and manager financial controlling.

Since last several years worked at one of start up company I accepted with monthly payment and there are not space for receiving weekly payment due regulation contract and seems impossible with legal company allowed payment in weekly, but have some illegal job will get payment in daily but there are not any guarantee with safe working and seems not recommended work there.

Inwestour

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Quote from: Davian144 on February 17, 2023, 07:43:05 AM

On average, the employers at my place always pay the salaries of their workers at the end of the month and here at my place no one pays weekly salaries to their workers. But at my place there are one or two employers who always pay their employees' salaries every day after they work and come home in the afternoon. I think it's also good that employers don't need to make payroll for their employees except for a record of spending some money to keep privately.

Daily payment is more like illegal work, like moving, or something like that, I don’t think that for somewhere there is a practice of daily payment at official work, it is too laborious for accounting and reporting.

I used to work at a job where you could take an advance once every two weeks. For most workers, the payment was once a month, but if someone needed it, you could ask the boss and he paid an advance, half the salary. But this was an exception, because we had a guy who rented an apartment and he did not always have enough money to buy food.

Mostly it's monthly payments, because it is so convenient for the employer, after all, whoever pays sets the rules, it has always been that way.

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Quote from: Asiska02 on February 18, 2023, 08:49:50 AM

Quote from: Rruchi man on February 02, 2023, 05:22:29 AM

There are two categories of people when it comes to the choice of when to receive payment for work. There is the category that prefers it be paid weekly so they can off set bills as they come so they do not become a burden, while there is the category that prefers it monthly so they can plan well for the month.

If employers put out the option before you to either to be paid weekly or monthly for your job, which will you prefer? Please give reasons asides the ones I have stated to support your answer.

I'll undoubtedly choose weekly pay and will do so a thousand times because I'm very comfortable with it. Having a weekly pay helps you minimize your wants and unnecessary spending because you know you'll be limited to a certain pay for that week when compared to receiving times 4 of that amount on a monthly basis. Weekly pay relieves the stress of having to accumulate to pay taxes or settle debts, so it's a better option for me than monthly pay.

Monthly salary or weekly salary makes no difference, what you are talking about is just your spending plan. If you adjust your spending plan monthly, it won't make any difference, as your salary won't change. I never thought of this because I always have a plan when I receive my monthly salary or my spending plan will change when the pay period changes.

Asiska02

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Quote from: Rruchi man on February 02, 2023, 05:22:29 AM

There are two categories of people when it comes to the choice of when to receive payment for work. There is the category that prefers it be paid weekly so they can off set bills as they come so they do not become a burden, while there is the category that prefers it monthly so they can plan well for the month.

If employers put out the option before you to either to be paid weekly or monthly for your job, which will you prefer? Please give reasons asides the ones I have stated to support your answer.

I'll undoubtedly choose weekly pay and will do so a thousand times because I'm very comfortable with it. Having a weekly pay helps you minimize your wants and unnecessary spending because you know you'll be limited to a certain pay for that week when compared to receiving times 4 of that amount on a monthly basis. Weekly pay relieves the stress of having to accumulate to pay taxes or settle debts, so it's a better option for me than monthly pay.

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Quote from: posi on February 13, 2023, 12:25:52 AM

Not everyone can be a boss or have a business of their own like you. When it comes to money, everyone wants to have a lot of money, and if they get a wish, people will want to receive it every second, not wait for hours and months to receive it. But when you're just an employee, you can't decide that.

I don't care when I will get my salary, what I care about is how much I earn. If it's a very high salary, 10 times other people's income, I'm willing to take it quarterly or annually.

Quote from: xSkylarx on February 13, 2023, 01:17:14 AM

Lucky for you who have business, but for us employees, we have a hard time budgeting our money and also finding the best time to be paid so that we can budget it and have it last us until payday. I don't know how you'd pay your employees, but I am hoping that you are taking care of them so that no matter whether you pay them weekly or monthly, they are happy since their salary is enough. Also, imagine paying your employees hourly. How would you do the paper work, lol? Unless you don't do any paperwork and just pay them out of your pocket and you're not tracking your expenses in your business.

Quote from: bakasabo on February 14, 2023, 03:55:09 AM

Why not then think about receiving payment every minute or second? That will completely minimize inflation "pwnage". What about those who hold or save? If they want to buy, lets say a 2 weeks vacation, what should they do? Earn that amount daily? Cant imagine what job should it be to earn so much.

It is good that you can be your own boss and get paid daily. Do you work alone or have a colleagues or a team? I am not trying to offend you, but the job you do perhaps isnt hard or require special skills or technology. Paid daily = work must be done in 1 day. Right ? And you are most likely paid in cash. Is your work seasonal or influenced highly by demand? What about the situation when you have no work to do today? You earn zero that day? That is why I prefer monthly payment. There are days when you work little, but still receive regular payment.

Quote from: isaac_clarke22 on February 14, 2023, 11:11:22 AM

People say monthly like me, since monthly bills are like the common stuff to worry about when dealing with our finances. I believe other people are talking about yearly when it comes to filing taxes and I have observed that mostly in 1st world countries. Here in my country which is a third world country, carefully observes "monthly" pay if that can sustain monthly needs as well as if there's still plenty of room or an overhead for luxury.

And you're right that you'll get pwned by inflation, the later you get paid. Transportation to work these days are already pain in the ass.

I think most people who work for somebody else is not determined enough to start their own business. All I see here is you making up excuses.

"We don't have the capital maan"
"What about the bills bruh?"
"We are not qualified to get paid dailiee!"

Read about the people that started big businesses in history. Most of them started with nothing till they get to the top.

Think big.

Take some risks!

livingfree

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Quote from: AicecreaME on February 17, 2023, 07:08:45 AM

I would prefer weekly payment, so that I could save early and I can easily set a budget for everything per week. Also the other reason is that just in case some emergency happens and I needed the money, I will not borrow from my friends or the last choice would be in bank that will just give me another problem because of the interest.

For me weekly salary is much better because that would help me as well to relax, like I can see my hard work finally pays off, especially when you just started a job, it feels great.

There's a reason why every scheme is good depending on our need. I've experienced with my friends that they've asked me for some money because they haven't got their paychecks yet.

Just as them, I haven't received mine and that's why I've told them that we're on the same page and can't help them on that matter.

That situation is usually happening because we don't create budgeting and planning once we receive our salary. IMO, any will do but I have to set a budget depending on how long I have to wait to receive my paycheck.

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Quote from: Davian144 on February 15, 2023, 03:43:30 AM

Quote from: Pejoh Asu on February 15, 2023, 01:26:30 AM

For those who can manage finances well, a weekly salary is a good thing, most people are too easily tempted to shop on weekends so all the salary they get is used up, but if we can leave it for investment even with a small value then weekly salary is better than monthly.

Basically every salary is good and also useful for life because it is part of the results of work every week and also in every month. And for me, those who receive a salary on a weekly or monthly basis are actually not much different if they can save it according to their basic needs. Because what makes the salary look small or not enough is prestige and too often follows a lifestyle that even that is not always needed by everyone.

Yes, actually the monthly or weekly salary is the same, as long as you can manage your own finances. Don't be tempted by spending money for nothing. For myself, the way to manage finances is (50,30,20). It's better to set aside the money I get, remember to set it aside, don't leave it, for example, the distribution is 50/30/20: 50% basic needs 30% savings/investment 20% wants .

Topic: Monthly or weekly pay? Fixed or percentage earning? what is your prefrence. (Read 1050 times)