Topic: Monthly or weekly pay? Fixed or percentage earning? what is your prefrence. - page 4. (Read 1050 times)

Salary and commission systems are indeed 2 different lines. My observation, people can choose whichever. the most important thing is to be enough to live on, hope to get more. Both have pluses and minuses, just as good. back to each other's souls.

I personally prefer to work with a commission salary because I'm still young and still maximizing my efforts to generate as much income as possible to get higher commissions. If the monthly salary income will not increase.

When I base my income on my weekly earnings, I will have to draw my budget to fit my weekly income; any expenses that cost me more than I earn are direct proof that I am living above my income.
 
If I have something important to buy that is needed at the end or first week of the month then I will put my hand on my savings and satisfy that need; once I am paid for it the following week, I replace it; it's not something that calls for borrowing, unless you are the type that doesn't save for tomorrow.

I once got a weekly and monthly salary and I think I like monthly salary more than weekly, this is because I'm easily tempted to use money for pleasure, if I get a weekly salary it's difficult to save, but if I get a monthly salary then I can force to save .

The average employee salary will be paid every month for all jobs at my place, but for certain jobs and economic conditions employees have no other income, so they will be paid a daily salary from the basic amount of the month's salary. Although there is no difference in the amount of salary, all employees hope to receive a monthly salary because the salary is large and enough to buy basic needs for the next month and the rest can be used for other purposes.

Paying for a month is better than paying for a week. A week is too frequent a period. The most complete picture is given by the concept of how much you have earned in a year. Therefore, a month is a good period, but not a week definitely. As for a fixed or percentage payment, I recommend a combined one. I'll give you an example - Will Smith always receives a percentage payment from films in addition to fixed, which is why it's so nice to look at him in films.

I quite agree with you as it is mutually beneficial in my opinion for both the employer and the employees to pay and get paid at the end of the month. On the part of the employer, there are less bookkeeping and records to be done and is much easier than sending out checks and keeping records on a weekly basis.
And as a monthly pay is obviously bigger than weekly income, it could help budget and plan your income accordingly for a longer term(longer than a week at most).

In my experience, most of them were into bi-weekly. Those companies were also made me choose if I want to get paid in monthly but it's better to have at least you get salary every two weeks. That's the reason why majority of the companies are having that salary payment option.
These days, I'm starting to see that they have different scheme like weekly and then every Friday. It really depends on the company for this policy and what they think is suitable not just for the company but also for the employees.

Most of the company does it monthly because of the paper work needed and also the efforts like verifying your shifts (time in and out) as well as your leaves and also the process of money like depositing in the bank and other things. If they do it weekly, it is a ton of effort, which is why it is bi-weekly or monthly. Though those small-time businesses are doing things like giving money to their employees after shift, which is pretty common in small stores or cafeterias but again it is better to be bi-weekly or monthly as you can receive a big amount as it was accumulated.

Many cases that I found around where I live, almost all companies or private businesses pay employees once a month. I personally have also worked in an official repair shop and the payment process is done at the end of each month. I think it will be mutually beneficial if employees' salaries are paid every month, employees can manage financial management properly after receiving their salary. While the place of business can run well without any problems because it indirectly already has a bond with employees.

I have a totally opposite view.

Money is debt. When you don't pay a bill on time, you are being charged for it. Notice how every single company will add money to your bill if you're late with payment.
The same can be said about your employer. If he pays you monthly it benefits him not you. He can do whatever he likes with the money throughout the month and you don't have it.

Weekly or even daily payments are the best because in case of emergency you always have the money and know if you're out it's coming in a day or two. You don't have to negotiate anything and you don't have to worry if that end of the month payment will be on time.

You will be able to budget your finances and if you are good in limiting your expenses you can save a lot if you have a good salary in a montlhy basis, it's more on how you foresaw the future of your expenses, but doing the right thing in managing your finances and thinking about how you can save will let you have a much better and secure lifestyle, monthly basis with high salaries is good though if there's other options which you can also consider it's better to be good in adjusting in any possible ways.

If this is a regular job, I will prefer to give or ask for the monthly salary. However if I were the owner of the business and this is a starting-up business, a monthly salary may be better and safer. I mean safer is that we can ensure that the workers are at least working in our place a month later. I have a bad experience when paying them weekly, after getting the salary, he was lost and never back again to the job, even it was not 1 month working. So, I needed to seek new workers again and again. If we are giving the monthly salary, we can also give any bonuses based on the evaluation during the month, it will be much better than doing it weekly because sometimes it is not really seen.

When I was younger it felt like there was an urgency to get more money and soon as possible, so weekly pay would have been a big bonus. Especially when you're wanting to go out every weekend and have exciting adventures or just hitting the clubs. However it can make accruing bigger sums harder unless you have a lot of discipline. If you're in a monthly pay job, it can be a bit trickier when you blow a lot of your money early on, until you adjust to a lifestyle that involves budgeting or you're making a decent sum of money that allows for a buffer to build up. These days, with a small financial safety net established, it's probably more preferable to get paid monthly as it can coincide with a lot of bills.

I remember the stories from my grandfather who used to tell me that he got paid weekly. Every Friday he received his paycheck in cash and when he was younger before meeting my grandmother, it was really hard to not spend all his money in a few days. It was a different time back then and only after my grandmother took over managing all the family finances, they started saving money. Today it's very different in my country, all the people I know are getting paid monthly and getting paid in cash is very uncommon. That's why I have never thought about getting money each week. If I had to choose I would probably stick to my monthly paycheck. Its better to plan each month ahead and use a fixed percentage to save. All the bills I habe to pay are either monthly or quarterly. That's why it's best to pay the bills when the money gets in. This way I make sure that there I don't spend too much money on unnecessary things.

I would prefer the monthly pay which would also be accompanied by numerous benefits, sincerely it all depends on our needs and wants at one point or the other; lately I have disciplined myself spending-wise in such a way that I would rather look away from enticing and materialistic items and shoppings that might exhaust my money in a twinkle of an eye. There was a particular time I went on a shopping trip and I ended up buying quite a lot of items that I didn’t even need at that point in time, I actually bought them because I came across them at the mall and I got carried away by greediness. Then, I was earning weekly and I was quite rest-assured that I would be getting yet another payment the following Friday. To me, it wasn’t encouraging and I wasn’t disciplined enough in my spendings and other surrounding financial budget. It was when I switched my jobs and started getting paid monthly, which is a fixed earning for me, I got to sit up tight financially, I started having enough savings for myself and other upkeep. Also, I ensure that I spend in such a way that I won’t go broke before the next month salary comes in which was part of the plan and discipline I set aside for myself budget-wise. It all depends on our choices and our individual responsibilities which is a defining factor for settling for either a monthly pay or weekly.

A weekly pay does gives you some room for maneuvering as you could quit and walk out of your job at any time after collecting your paycheck for the week.
But I think a monthly pay is more better and quite easier to budget than having a weekly paycheck. With a monthly paycheck, you could easily budget your pay towards your expenses and with a good budget, you could service some loans and still actually have some money to put towards savings left afterwards.
While you are more likely to spend your weekly paycheck as they arrive knowing you’re gonna get paid again in about seven days.

Are you making things more serious? I don't think receiving a monthly salary will cause someone to have to sell some household items to cover monthly expenses. And I also don't think inflation will be relevant here, whether you get a monthly or weekly salary, your salary won't change, it stays the same. If you have a spending plan, there should be no problem. Most jobs these days are paid by the month, and I don't blame anyone for getting a monthly salary for economic hardship because of inflation or having to sell household items.

I don't agree with what you said assuming you are been paid $20,000 a month and weekly pay is $5000 can you use $5000 for a week and be contented? It's better to get $20,000 monthly so you can plan how to use it before the month runoff.

You are just living alone, which is why you think it is almost the same. This was also my thought before, and I was thinking it was better to have a daily or weekly income so that I could spend it on things, and also because it would teach you to save to buy those things. But the problem is that you are only earning a small amount, so it is just enough for yourself. But since I have family now, I would say it is still good to be paid weekly, but I do prefer most to be paid monthly as you need to spend more money on something, and also don't want to grocery every week. But we have our own preferences, which I respect as well as yours.

I prefer weekly fixed pay. As you mentioned, there are several types of people. I prefer weekly pay as it's a lot easier to plan my expenses this way, you receive your remuneration faster and more regularly, you don't have to wait till the end of the month. Fixed pay is more stable, easier to plan expenses and you can count on a certain amount every time.