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| Subject: Salary or hourly pay |
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Greetings Canadians!
I just got two job offers on the table and I would dearly appreciate your expertise. One job is a salary position paid semi-monthly with annual $38,000.00 the other job is paid hourly $16.05/hr and both are Monday to Friday. If my calcualtion is correct the hourly position would would be around $34,000.00 to include stat holidays and some over time. Please correct me if I am wrong. My tax bracket is (single) and living in British Columbia. I know the salary position is slightly higher in pay but I am somewhat difficult in making a decision. What are your thoughts? Please advice. Thank you.
[16-07-2008,14:10]
[**.154.177.15]
Alice |
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(in reply to: Salary or hourly pay)
Congrats!
Consider the other benefits with that and add together...like healthcare (though Canada has universal health still eye/dental needs coverage + medicine)..RRSP..
Also, usually the hourly positions aren´t permanant, I would be concerned more about that.
[16-07-2008,14:14]
[***.254.208.246]
DC |
(in reply to: Salary or hourly pay)
the difference between the 2 jobs is $333 a month. After tax, about $250 a month.
Which opportunity do you LIKE? money is not always everything!
Which job has more potential for advancement?
Which job is closer to transit
Which job is more interesting
Which job is in an area where you would like to live
DC mentioned benfits - not sure if the company offers them or not. obviously, you get your BC medical coverage.
[16-07-2008,15:46]
[**.155.160.37]
Sharon |
(in reply to: Salary or hourly pay)
In ON we used to have the dental/eye covered by the companies above the OHIP. Like in US, there we had insurance cards for that purpose, that also saved medicine cost a lot.
The other points that you mentioned I assumed very generic, all should consider given multiple opportunities. I thought Alice was concerned totally for the salary question.
[16-07-2008,15:52]
[***.254.208.246]
DC |
(in reply to: Salary or hourly pay)
we are not talking a huge difference in money and that difference can be eaten up if a car is required to get to work, or if she wants to walk to work but has to pay more in rent to do so.
In Vancouver, $250 does not even cover the cost to rent a parking stall downtown.
health benefit coverage that goes beyond what is covered by the provincial medical plan is often tied to the size of company. Alice should definitely ask if either opportunity offers these benefits as it will add to her realized salary.
[16-07-2008,16:14]
[**.155.160.37]
Sharon |
(in reply to: Salary or hourly pay)
Well said Sharon,
Alice,
Hourly wage can be as permanent as a monthly salary.
Now, does this company offers a minimum of 40 working hours a week? If it does, is there over time involved? If there is, hourly wage is better in terms of $$$.
Under a salary contract usually you will not be paid for over time but if you need to take the moring or a day off for any reason, your pay cheque will not be affected.
Cheers
Bill
[16-07-2008,16:20]
[**.70.95.206]
Bill |
(in reply to: Salary or hourly pay)
very good points Bill.
often, over time in a salaried position is paid in additional time off but more often than not, those hours vanish in the air.
hourly wage is fine but they need to be very clear about a weekly guarantee - as Bill has said. you need 40 hours a week for your math to work.
[16-07-2008,16:29]
[**.155.160.37]
Sharon |
Salary or hourly pay (in reply to: Salary or hourly pay)
Thanks to those with your reply. A brief introduction about myself, I have just graduated from college and this would be my first real job but hardly make month end meet with my job offers! I am not complaining but just happy to be employed. Both company does operate 7 days a week and the houly position is said to promise 40/hr week Monday to Friday and the same for salary position. I am leaning towards the salary position only because it seems to be quaranteed income but because the pay period is 1st and 15th of each month. Is it safe to say I would be working on a average of 48/hr week? Furthermore they both offer full BC medical plan and group benefits after 3 months probation.
[16-07-2008,16:40]
[**.154.177.15]
Alice |
(in reply to: Salary or hourly pay)
salaried positions are still based on 40 hour weeks. That is provincial labour standard.
the one advantage of bi-monthly paycheques is you never get caught with the first day of the month being 3-5 days before your next pay day. Can be helpful with budgeting. You will have 24 cheques instead of 26 and you will never have an excuse to be late with your rent.
Congratulations on your first real job. it´s a great start.
[16-07-2008,16:51]
[**.155.160.37]
Sharon |
(in reply to: Salary or hourly pay)
Usually regular hourly jobs are 40hr/week, however upon contract sometimes it may be 45/week also.
Pay days are 1st & 15th means you´ll be paid bi-weekly. Twice a month, each time for 80 hrs (assuming 40 hrs week). 160 hrs a month. It should leave you at least 1 extra payment/year. Meaning in a single month you can have 3 payments instead of 2.
[16-07-2008,16:55]
[***.254.208.246]
DC |
Salary or hourly pay (in reply to: Salary or hourly pay)
Hi DC,
Lets use July for example and being paid on a semi monthly basis and worked all of Monday to friday´s for the month of July and I am paid only on the 1st and the 15th then I have actually worked 24 days in recieve of a salary?
[16-07-2008,17:06]
[**.154.177.15]
Alice |
