Prorated Monthly Salary

bamgbost

Hi Guys

Just a quick question regarding the first & Last payI receive, when switching jobs and paid salary on a monthly basis.

I have given in my notice to leave current role 10thJuly.:j Got 2 weeks off before new Job starts 27th July.:beer:

I just wondered, how both jobs will calculate the JulyPro-rated salary.
I reckon it can be done a number of ways – either weekly or daily. Any ideas if there’s a set method of calculating?? or should I just askpayroll. Gonna be a tight month as it is, so would be good to have a roughidea.

Thanks. Sorry if it’s confusing.

Derwent

Different companies use different methods of calculation. In my company we use the 261ths method, i.e. there are 365 days in a year less 104 weekend days (52 weeks x 2 days) to leave 261 working days in a year.


So if you left here on 10th July, having been paid up to 30th June already, you'd have worked 8 days in the month.


So we'd divide your annual salary by 261 to give a daily rate and then multiply that figure by 8 to give the figure to be paid.

TBagpuss

you'll have to ask your employers - also check pay dates.

I know of one company local to us which waits until your first full month, so if you start part way through a month you don't get paid until you have worked a full month from (at which point you get the full amount, so you might work 6 weeks and then get paid, whereas we pay on the next pay date after you start, so in the same situation you would get paid for the 2 weeks or whatever part of the month you'd worked on the first pay date after you started, and then your normal full monthly wage each month after that.

We would work out your pro-rata entitlement on a daily basis, on the 260 basis 53 weeks x 5 days)

Savvy_Sue

TBagpuss wrote: »

you'll have to ask your employers - also check pay dates.

Yes, because your current job almost certainly won't pay you before your 'normal' pay date, and the new job almost certainly won't pay what you're owed for July until the August payroll.