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First Paycheck at new job

July 14th, 2007 at 04:35 am

Today was payday! I checked my bank online today and see the deposit. Yeah! The only thing I'm not happy about is that my new job pays me every two weeks. I much prefer to get paid only once a month.

I don't understand why companies pay every two weeks. Isn't it more expensive for them to have to run payroll 26 times per year rather than 12 times?

Posted in Job situation | 4 Comments »

4 Responses to “First Paycheck at new job”

  1. LuckyRobin Says:
    July 14th, 2007 at 05:43 am 1184391829
    1184391829

    It depends on the company but I would hazard a guess that it is because unpaid wages shows up in the books as a liability (owed money), not an asset and they like to keep things as up-to-date as possible.

  2. disneysteve Says:
    July 16th, 2007 at 01:49 am 1184550553
    1184550553

    I'd also assume that there are a great many people who could never manage getting paid just once/month as they don't have the money management skills needed to budget that way.

    I've posted before about where my MIL works. They get paid weekly. The owner wants to switch to every other week but a bunch of people complained that they couldn't make that switch as that would leave them with no pay for 1 week and they'd have no money to live. That means they all have zero savings and couldn't last 1 week without a check. Pretty sad, but much more common than we might think.

  3. shadon Says:
    July 16th, 2007 at 04:17 am 1184559443
    1184559443

    Getting paid every other week (or "fortnightly") is very common here (Australia). Genrally, a lot of trades get paid weekly as do the service industry such as hospitality and retail, all Government Employees are paid fortnightly as I think are the finance sector such as banks. Really the only people paid monthly here are Upper Management employees who are salaried rather than on wages.

  4. luxliving Says:
    December 28th, 2007 at 06:19 pm 1198865988
    1198865988

    Where did you go???

    How's the new job?

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