Join Australia's most dynamic and respected property investment community

Salary - monthly pay cycle

Discussion in 'Living Room' started by Greyghost, 11th May, 2016.

Tags:
?

How is your monthly salary payment structured:

  1. 2 weeks in arrears + 2 weeks in advance

    18 vote(s)
    64.3%
  2. 4 weeks in arrears

    8 vote(s)
    28.6%
  3. 4 weeks in advance (unlikely)

    2 vote(s)
    7.1%
  1. Greyghost

    Greyghost Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    1,278
    Location:
    Melbourne
    Hey peeps!
    Just curious, who else here is paid monthly?
    If so, how is that pay structured?
    Mine is currently the first option (2 & 2).
    Cheers,
    GG
     
  2. Mumbai

    Mumbai Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    771
    Location:
    Sydney
    What would you achieve with these information?
    Any value add? Any learning? What do you plan to do with the results?
     
  3. spludgey

    spludgey Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    803
    Location:
    Sydney
    Fortnightly. Three days in advance, seven days in arrears.
     
  4. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

    Joined:
    18th Jun, 2015
    Posts:
    2,336
    Location:
    Canberra and Sydney
  5. Greyghost

    Greyghost Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    1,278
    Location:
    Melbourne
    Sell it to google... Lol
    Mumbai, surely I've been around this forum long enough to ask a general query. Not one of those who sign up thinking they are tapping into a goldmine of potential clients on the forum (fish in a barrel) hahah
    To be honest it relates to my personal circumstances, hence I put the post on lounge room of the forum...
     
    Last edited: 11th May, 2016
  6. DaveM

    DaveM Adelaide Buyers Agent & KFC Strategist Business Member

    Joined:
    14th Jun, 2015
    Posts:
    2,401
    Location:
    Sydney & Adelaide
  7. neK

    neK Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,443
    Location:
    Sydney
    Monthly is good. Teaches people how to budget.

    Even better would be quarterly. :)
     
  8. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    2,503
    Location:
    Sydney & Gold Coast
  9. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    6,564
    Location:
    Sydney or NSW or Australia
    For some, fortnightly for the fortnight prior to the current period, other bits COD, other bits in progress claims & managements monthly. It all depends on what I have agreed :)
     
  10. Mumbai

    Mumbai Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    771
    Location:
    Sydney
    Well, I didn't mean that way. It came out wrong (typed before having my first coffee of the day). I was trying to understand the rationale. I got paid weekly on a job, paid fortnightly in another, current job pays monthly. Have also worked as a contractor getting paid when client felt like paying. I never relied too much on the date I got paid to manage my finances. Maintain buffer to avoid any nasty surprises.
     
  11. Coota9

    Coota9 Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    1,007
    Location:
    Melbourne
    Paid on the 15th of the month which includes to weeks prior and 2 weeks forward
     
  12. D.T.

    D.T. Adelaide Property Manager Business Member

    Joined:
    13th Jun, 2015
    Posts:
    6,072
    Location:
    Adelaide, SA
  13. Greyghost

    Greyghost Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    1,278
    Location:
    Melbourne
    Making assumptions again bud re buffer...
    Most employers do 2 & 2. That in standard.
    I have a couple of friends of mine (in the accounting firm we worked for that recently split into 2 seperate businesses) where their boss wants to put them on 4 weeks accrued monthly pay.

    Management wanted monthly pay runs to streamline patrol.
    Paid 2 & 2
    Now the firm split and they want to pay 4 in arrears.
    Just another example of being squeezed.
    Cash reserves are not the issue here, it's the principle of you accommodated your employer and signed off on monthly pay, now 2 years later that doesn't suit them and they want 4 in arrears.
     
  14. Ed Barton

    Ed Barton Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    1,235
    Location:
    Brisbane
    I haven't received a salary for a long time.

    My first job at 15 pushing trollies after school for Target was cash weekly. It was available from a hole in the wall type arrangement from 4pm on Thursdays. It was literally a pay packet. An envelope with details hand written on the outside and notes and coins inside.
     
  15. geoffw

    geoffw Moderator Staff Member

    Joined:
    15th Jun, 2015
    Posts:
    2,690
    Location:
    Canberra
    I haven't received any pay for some time.
     
  16. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    6,564
    Location:
    Sydney or NSW or Australia
    You just love kudos ;)
     
  17. Davothegreat

    Davothegreat Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    254
    Location:
    Sydney
    I'm back on monthly pay with the new job and lucky me I started on pay day so had to wait a full month from then to get paid anything as it's 4 weeks in arrears. :-( So much for the payout from my last job going on toys :-(

    All other monthly pay jobs I've had have been 2+2.
     
  18. BennEznElle

    BennEznElle Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    83
    Location:
    Adelaide
    Is there any real difference whether it is 2+2 or 4 in arrears? There might be a lag on the first pay when you start, and possibly some small timing differences to take into account public holidays, depending on your pay structure, but you are still getting paid for 4 weeks, it would just be at the start and end of employment that there would be an adjustment.
     
  19. Heinz57

    Heinz57 Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    550
    Location:
    Brisbane
    Used to be monthly -2 +2 fifteenth of the month. Now weekly 3 days in arrears. Wonderful
     
  20. Joynz

    Joynz Well-Known Member

    Joined:
    5th Apr, 2016
    Posts:
    1,101
    Location:
    Melbourne
    Fortnightly. I assume it is in arrears but have never checked as it doesn't matter to me.