will i be better off changing from monthly pay to weekly

mercedes125 · 15 February 2006 at 11:15PM

At the momemt i get paid monthly, i get the same amount at the end of each month. I am changing jobs and i shall be getting paid weekly does this way work out more in the end with the months with 5wks in, because as i said i get a set amount each month even when there has been 5wks in the month.
Thanks for your help kaz

Fran · 16 February 2006 at 2:42AM

To work out the yearly amount you will be paid:

For the monthly pay multiply by 12

For the weekly pay multiply by 52

You can then divide the figure eg that is your monthly pay by 52 to see what the weekly equivalent is and vice versa.

EmmaLi · 16 February 2006 at 11:26AM

I get paid weekly and for some reason this means that I actually pay slightly less tax and NI.

helen_vasey · 16 February 2006 at 12:43PM

usually, when you are paid monthly it is every 4 weeks so you actually get paid 13 times in a year, i would think that if you get paid on the same day every month your pay will be evened out over 12 months.

mercedes125 · 16 February 2006 at 5:35PM

Hi
Thanks for all your replys i do get paid on the same date each month, so i think that i will end up being better off paid weekly especially when there is 5 pay days in the month.
Thanks again kaz

Woby_Tide · 16 February 2006 at 5:47PM

I'd imagine your employer will multiply your monthly wage by 12 then divide by 52 to give a weekly wage, barring the tx/NI implications someone else mentioned I can't see you being any better or worse off whether monthly or weekly paid

Miroslav · 16 February 2006 at 5:49PM

I'm sure someone will correct me if wrong, but on weekly pay, you only have to give a weeks notice, but on monthly pay, you have to give a months notice.

That's what I understand anyway.

It's not a financial gain, but still something worth considering.

Woby_Tide · 16 February 2006 at 11:48PM

don't think notice periods are related to pay cycles, it should be in the contract of employment. And if not then stuatory rules are 1 weeks notice if you've worked between 1 montha nd 2 years or 1 week per year above that.

will i be better off changing from monthly pay to weekly

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