Quote:
Originally Posted by The Yen Man
If you're on salary, don't they just take your annual salary, divide it by 52 weeks, and then divide it again by 40 hours to come up with your per hour rate?
They then take that rate and multiply it by 10 days (if you're paid biweekly) or multiply it by the number of weekdays you worked in the 15-16 days of the month (if you're paid semi monthly). In February, they'd multiply it by the number of weekdays in the 15 and 13 days of your pay periods. On a leap year, wouldn't they multiply it by number of weekdays in the 14 and 15 day pay periods?
So if they do that, how exactly do you lose out because of a leap year day?
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Quote:
Originally Posted by The Yen Man
I get paid bi-weekly, and my paystub basically has my calculated hourly rate x 80 hours. And it's consistent every paycheque. I don't get how I get shortchanged the one day during a leap year.
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Yeah, that's how I've always been paid on an annual salary. Some years there are more working days than others, but they don't adjust your hourly rate one way or the other.
I did have one job where I got paid a monthly salary, paid twice a month. Every cheque was the same amount paid on the last business day before the 15th and the last business day before the end of the month.
If you think about it, in that situation, you're screwing over your employer every February because it's 2 or 3 days shorter than the other months most years, and a day or 2 shorter in leap years. You're just screwing them over a little less in leap years.