Topic: Monthly or weekly pay? Fixed or percentage earning? what is your prefrence. (Read 1041 times)

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.

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. 

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.

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.

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.

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.

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.

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.

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.

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.

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.

Well I am not making up excuses though. It's just the reality. I gotta start somewhere first. I attempted to build my freelancing business in Upwork before my corporate job and not a single soul wants to buy my services since I still do not have the experience to do such thing. I stopped freelancing around 2017 since it was just not working out after I spent all my Connects for proposals then pursued a corporate job outside my town then gained some experience in Software Dev. Few years ahead, no need to tell stories on my specific experiences there, I just quit my corporate job and "restarted" doing my freelancing business at Upwork and oh boy, the invitations were overwhelming at the second week.

Just because it was done by other people like even those college dropouts or started from "nothing", does not mean it is doable by everyone. Those people that went big in their businesses sharing their story surely does not tell all the whole story. Surely most of them got lucky and surely most of them got connections to advertise or help their business and they just don't want to admit it. Not everyone has the same connection/network or even luck.

I would say, take at least a calculated risk. I know the point you're trying to across, but it is just not falling in the same place at the same time for everyone.

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.

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.

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.

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.

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.

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.

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.

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.

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!

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.