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mommy2bella
Where does time go?
Member since 12/05 9747 total posts
Name:
Kelly
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Pay Schedule
OK, so I received an official offer from a job...and I am overall happy with the contract even though the "at will" part scares the beejesus outta me...
but after reading it for the fourth time yesterday, I saw,
"pay will commence for salaried employees on the schdedule set for by the employer (a MONTHLY SCHEDULE as of now)
um, is this a dealbreaker for me? Once a month payment...won't I get slaughtered in taxes? How do I poiltely say I can't do this...
FYI, this is a small company of like 10 people...
TIA
Kelly
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Posted 5/2/08 9:13 AM  |
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Christine
2nd verse same as the 1st
Member since 5/05 15287 total posts
Name:
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Re: Pay Schedule
All employment in NY is at will.
A monthly paycheck should be taxed at the same rate as a weekly or bi-weekly. It will just seem like more because a monthly check is bigger then a weekly or bi-weekly. But when a company enters payroll, there is a field that will identify the salary as a monthly salary so it will be taxed appropriately.
I am not sure if that makes sense.
If it's a deal breaker for you, you can ask them about paying you bi-monthly or something. But that could be a deal breaker for them.
How are the non-salaried employees paid?
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| Posted 5/2/08 10:03 AM |
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Kara
Now Zagat Rated!
Member since 3/07 13217 total posts
Name:
They call me "Tater Salad"
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Re: Pay Schedule
Posted by Christine
All employment in NY is at will.
A monthly paycheck should be taxed at the same rate as a weekly or bi-weekly. It will just seem like more because a monthly check is bigger then a weekly or bi-weekly. But when a company enters payroll, there is a field that will identify the salary as a monthly salary so it will be taxed appropriately.
I am not sure if that makes sense.
If it's a deal breaker for you, you can ask them about paying you bi-monthly or something. But that could be a deal breaker for them.
How are the non-salaried employees paid?
Agreed on all counts. You will be taxed at the normal rate, not higher.
Also, why does the "at will" part scare you? With very, very, very few exceptions, ALL employment in NY is at will. 
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| Posted 5/2/08 10:09 AM |
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bikramaddict
mommy-to-be
Member since 8/06 4376 total posts
Name:
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Re: Pay Schedule
my new job pays monthly, too. i had your same concern, but i played with numbers on a calculator and it came out to about the same so i'm not woried anymore.
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| Posted 5/2/08 10:18 AM |
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mommy2bella
Where does time go?
Member since 12/05 9747 total posts
Name:
Kelly
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Re: Pay Schedule
I know all about the "at will" contract stip...it is just wild to actually read it in a contract....I mean, "we can terminate you for any reason, with or without cause, including a disability" is bananas...
And I just don't know about the monthly thing...I didn't know that companies even did this...I mean, I HATED it when it was two week increments.
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| Posted 5/2/08 10:25 AM |
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Mommy2Boys
My Boys!!!!
Member since 6/06 14437 total posts
Name:
C
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Re: Pay Schedule
I work for a small company and get paid only monthly as well. I am thinking about asking for a bi-weekly check. I just like knowing I have a little more money there during the month.
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| Posted 5/2/08 11:55 AM |
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frosty
LIF Toddler
Member since 5/05 462 total posts
Name:
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Re: Pay Schedule
I get paid monthly and I hate it. Especially since I was paid weekly by my previous job. That was tough transition.
You are not taxed at a higher rate, although it feels like it.
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| Posted 5/2/08 12:21 PM |
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mommy2bella
Where does time go?
Member since 12/05 9747 total posts
Name:
Kelly
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Re: Pay Schedule
Posted by frosty
I get paid monthly and I hate it. Especially since I was paid weekly by my previous job. That was tough transition.
You are not taxed at a higher rate, although it feels like it.
thanks...I know it's gonna stink to transition...but my new boss said they would pay me some money up front to soften the blow.
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| Posted 5/2/08 12:27 PM |
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