Monthly wage - PLS help?

scheming_gypsy

for the ones who prefer to cheat http://www.thesalarycalculator.co.uk/salary.php

LittleVoice

chokolat2 wrote: »

So in my job my annual salary is 12,500

I started on 27th June 2011

12,500 / 12 = 1041
1041 / 30 = 34.7

34.7 x 4 (days I have actually worked til end of June)

= 138.80

£12,500 / 12 = £1,041.67

£1,041.67 / 30 = £34.722333333333333

£34.73 X 4 = £138.89

Dividing by the actual number of days in the month is of benefit to you for June (the daily rate would be less in July).

You have, however, not benefited from any weekend in that period.

It's an acceptable method of calculating part month of a salary. Make sure they don't forget the 67p for the full month.

Savvy_Sue

chokolat2 wrote: »

Hi everyone, I am a bit confused about whether I am actually getting paid correctly...and wondered if someone could help. I know its best to speak to the accounts dept at work, but I wanted to double check them..

So in my job my annual salary is 12,500

They divide this by the number of months = 12 and get a monthly salary of £1,041

This is then further divided by the number of actual days in a month (so 30 days for June) and then multiplied by the number of days I have actually worked..

I'd be gobsmacked if they did this every month: normally I'd expect them to pay you 1/2 of your annual salary, but they had to work out what to pay you for the 4 days you worked in June.

Can't follow all the maths at this time of night, but I would probably have drilled down to your hourly rate and multiplied that by the number of hours worked. So that's £12,500/52/40 x no of hours worked in June, since you work a 40 hour week. And yes I know there are slightly more than 52 weeks in a year ...

HappyMJ

LittleVoice wrote: »

£12,500 / 12 = £1,041.67

£1,041.67 / 30 = £34.722333333333333

£34.73 X 4 = £138.89

Dividing by the actual number of days in the month is of benefit to you for June (the daily rate would be less in July).

You have, however, not benefited from any weekend in that period.

It's an acceptable method of calculating part month of a salary. Make sure they don't forget the 67p for the full month.

So OP has worked 32 hours at £4.34 an hour. That's less than minimum wage. I don't call that acceptable.

LadyMissA

chokolat2 wrote: »

Hi everyone, I am a bit confused about whether I am actually getting paid correctly...and wondered if someone could help. I know its best to speak to the accounts dept at work, but I wanted to double check them..

So in my job my annual salary is 12,500

They divide this by the number of months = 12 and get a monthly salary of £1,041

This is then further divided by the number of actual days in a month (so 30 days for June) and then multiplied by the number of days I have actually worked..


For example
I started on 27th June 2011

12,500 / 12 = 1041
1041 / 30 = 34.7

34.7 x 4 (days I have actually worked til end of June)

= 138.80

Is this the correct way of doing it?

if you do a straight forward 5 day week you work 260 days a year that includes holidays but use this to work out

12,500 / 260 = 48.07 per day ok

so 4 days should be 4 x 48.07 = 192.30

what did you get then?

LadyMissA

HappyMJ wrote: »

Needs to be 52.143 as there are slightly more than 52 weeks in a year.

but he is salaried not weekely paid

LadyMissA

chokolat2 wrote: »

Thank you, so I am correct in thinking that they should only take into account my WORKING days in the month not all of the 30 or 31 days ?

if you get paid monthly the days in the month have NOTHING to do with it

its your salary divided by 12 going forward.

Say for example pay day is the 25th of the mth - they have a cut off that say may be the 12th. You get paid a full mth on the 25th yes?

But say you went off sick on the 14th for two days and didnt get paid sick these two days will be adjusted on the next mths pay date.

So when you started you missed the cut off hence them paying you the extra 4 days now

did you say what it was that they did pay u for the 4 days?

LadyMissA

LittleVoice wrote: »

£12,500 / 12 = £1,041.67

£1,041.67 / 30 = £34.722333333333333

£34.73 X 4 = £138.89

Dividing by the actual number of days in the month is of benefit to you for June (the daily rate would be less in July).

You have, however, not benefited from any weekend in that period.

It's an acceptable method of calculating part month of a salary. Make sure they don't forget the 67p for the full month.

sorry that is wrong!! its not £34.73 a day its 48.07

Evilm

I would expect either your yearly salary to be divided by the number of working days in the year or monthly divided by working days.

They should only be dividing by 30 if you are expected to work every day!

LadyMissA

Evilm wrote: »

I would expect either your yearly salary to be divided by the number of working days in the year or monthly divided by working days.

They should only be dividing by 30 if you are expected to work every day!

I have just said that - its 260 days

but salaries are divided by 12