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Getting paid monthly

Discussion in 'The RoundTable' started by lsu99, Dec 13, 2013.

  1. lsu99

    lsu99 whashappenin

    I work for a European company and apparently it's the norm for employers in Europe to pay their employees monthly. In the US, we've always had a biweekly system with payroll every two weeks.

    We've had a lot of turnover and challenges in our payroll department over the past few years. It is currently being discussed whether to switch to a monthly payroll. I attempted to shoot down this idea at a recent meeting (with some Europeans but mostly Americans) and one of the Americans mentioned that more US employers are moving to a monthly payroll.

    Does anyone get paid monthly? If not, how would you feel about moving to a monthly payroll?
  2. Cajun Sensation

    Cajun Sensation I'm kind of a big deal

    I've always been paid monthly. I really don't know any different.
  3. StaceyO

    StaceyO Football Turns Me On

    I've also only been paid monthly. For years, I was paid on the last working day of the month--which meant a HUGE drought from the last working day of December to (usually) the 31st of January. Of course, that was also when I was single and living pay check to pay check. For a number of years, we've been paid on the 25th of the month--which works much better for those who live check to check.
    Last edited: Dec 14, 2013
  4. Bengal B

    Bengal B Founding Member

    Social Security only pays once a month
  5. hebertjp

    hebertjp Veteran Member

    I have had it both ways. When I was a grad student, we were paid our stipends once a month. There were some financial droughts as Stacey mentioned waiting for the next paycheck. I currently am paid biweekly. It is nice having those two 'extra' checks each year especially considering during those months where you get a third paycheck, the third paycheck didn't have any withholdings for insurance and such so they had a bit more money.
  6. fanatic

    fanatic Buckle your seatbelts...

    Just started a new job in NOLA this past Oct and I only get paid once a month. It's GREAT at the beginning of the month when you're rolling in dough. It SUX at the end. For example, I got paid on Nov. 3oth and don't get paid again until after Christmas. I'm really struggling with stretching my money that far, but I'll figure it out eventually.
  7. locoguano

    locoguano Fear the Beard.

    Monthly pay forces a much higher level of discipline on workers, which many just do not have. Those that do not have the discipline to live on a set budget will be under much more stress, leading to poorer production. Stick with bi-monthly or buy everyone a copy of Dave Ramsey's book.
  8. StaceyO

    StaceyO Football Turns Me On

    Discipline is definitely part of the equation you mention, but when I was in my 20's, I simply didn't have enough money to truly budget anything to the point that I wasn't living check to check.

    At the start of a career, if you're starting with nothing (and I was) and receiving no financial help from parents (which I wasn't), just paying rent, groceries, and other bills taps you out.

    Neither my husband nor I had any extra money until we got married and were able to merge households and incomes. The "comfortable" phase of life didn't happen for us until we were in our mid-late 30's. Getting two kids out of daycare and into good public schools has helped with that, too, of course.

    *As a side note to the financial help from parents angle I mentioned: many, many of the people we know are STILL subsidized by their parents. My parents educated me, so their feeling was that was enough (it was), and I was on my own as soon as I graduated. I'm proud that we've never taken a dime from them to help us pay bills, etc. And these days, I love buying them nice things for Christmas, paying for their lodging at Disney World, and anything else that comes up. The people who take money from their parents also still answer to them. We don't have any reason to answer to anyone.
  9. Kal-El012

    Kal-El012 Veteran Member

    I get paid daily... :cool:
  10. Bengal B

    Bengal B Founding Member

    Are you one of those guys holding up a sign saying you will work for food?

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