Education & Work Salary - monthly pay cycle

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

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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%
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  1. Corey Batt

    Corey Batt Well-Known Member

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    Adelaide, SA
    Monthly generally - though I just pay myself when needed.
     
    Corey Batt, 11th May, 2016
    #21
    MTR likes this.
  2. EN710

    EN710 Well-Known Member

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    Forthrightly but I got no idea in arrears or advance... I assume in advance so if I quit no money given at the end of the employment, worse case scenarios
     
    EN710, 11th May, 2016
    #22
  3. Ed Barton

    Ed Barton Well-Known Member

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    4 weeks is not a month.

    When you negotiate a salary do you do yearly, monthly or weekly?
     
    Ed Barton, 11th May, 2016
    #23
  4. Jerry O

    Jerry O Well-Known Member

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    I was used to be paid weekly, then transitioned to monthly. Lucky I got cash buffer during the transition. But you do get better in budgeting when on a monthly cycle.
     
    Jerry O, 11th May, 2016
    #24
  5. geoffw

    geoffw Moderator Staff Member

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    Some people get paid weekly. I get paid very weakly.
     
    geoffw, 11th May, 2016
    #25
    Dan Donoghue likes this.
  6. LifesGood

    LifesGood Well-Known Member

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    Perth WA
    Monthly in advance
     
    LifesGood, 11th May, 2016
    #26
  7. Greyghost

    Greyghost Well-Known Member

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    22nd Jun, 2015
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    Brisbane
    Correct...
    Only issue is when then
    Since being on monthly for the past 2 years (i think) I now prefer it.
    Only adjustment i made (because I do not use the credit card then pay it off at month end) is to transfer my allocated "spending money" each week automatically from my offset account.
    Trying to keep as much in offset as possible and "pay" myself each week. This avoids being "hood rich" one week - having 4 weeks of spending money in my everyday account and having a big night out with too many expensive bottles of wine.

    On a side note and it is much of a muchness, I would prefer weekly or fortnight simply because I would have more funds hitting my offset account more regularly, so would benefit in the sense of the compounding not effect in my offset.
     
    Greyghost, 12th May, 2016
    #27
  8. jodes

    jodes Well-Known Member

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    Sydney
    I thought (but I could be wrong) that it was illegal for an employer to go more than 2 weeks into arrears with an employee - therefore if paid monthly it must be 2 weeks in arrears, 2 weeks in advance... (not 100% on this though).
     
    jodes, 12th May, 2016
    #28
  9. hobo

    hobo Well-Known Member

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    I actually prefer monthly pay schedule over weekly or fortnightly; always have. Currently being paid monthly, a month in arrears.
     
    hobo, 12th May, 2016
    #29
  10. Tony Fleming

    Tony Fleming Well-Known Member

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    Weekly. Great for the offset account!
     
    Tony Fleming, 12th May, 2016
    #30
  11. Davothegreat

    Davothegreat Well-Known Member

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    Sydney
    Sorry, I should have said a month in arrears not specifically 4 weeks. My salary is negotiated as a yearly amount.
     
    Davothegreat, 12th May, 2016
    #31
  12. Blacky

    Blacky Well-Known Member

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    Bali
    How do you get paid for the remaining 4weeks of the year then?

    Blacky
     
    Blacky, 12th May, 2016
    #32
  13. Blacky

    Blacky Well-Known Member

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    Location:
    Bali
    My pay is for the month prior - however, the amount depends on how many days I have worked.

    Blacky
     
    Blacky, 12th May, 2016
    #33
  14. Johnny Cashflow

    Johnny Cashflow Well-Known Member

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    SA
    Taking the house bonds down to the Casino? Lol
     
    Johnny Cashflow, 12th May, 2016
    #34
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