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Lost in moscow
11-03-2014, 03:57
Here's a theory; Why not monday?
By the time it's friday and odds are, if you are working 50+ hours a week with an hour commute one way, that doesn't leave you with a lot of time to actually spend money. By the time it's friday, it's again only two days away from payday...

MashaSashina
11-03-2014, 05:03
I'm paid twice a month, usually on 10th and 25th of the month. Doesn't matter if it is friday or tuesday...

Nobbynumbnuts
11-03-2014, 08:07
Here's a theory; Why not monday?
By the time it's friday and odds are, if you are working 50+ hours a week with an hour commute one way, that doesn't leave you with a lot of time to actually spend money. By the time it's friday, it's again only two days away from payday...

Traditionally it's Friday in the UK because you have completed your weeks work and most people didn't have bank accounts years ago so were unable to be paid monthly. Families need the money for the weekend.

Benedikt
11-03-2014, 08:08
Here's a theory; Why not monday?
By the time it's friday and odds are, if you are working 50+ hours a week with an hour commute one way, that doesn't leave you with a lot of time to actually spend money. By the time it's friday, it's again only two days away from payday...



how long does it take them to spend up to the limit of your credit/debit card?:AngelPray:

inorcist
11-03-2014, 11:39
It's very country specific.

In Switzerland for example, salaries traditionally are being paid on the 26th. This is to have a few days until the end of the month to make sure the money really arrives on your account. If you work in the finance or banking industry salaries are being paid a week earlier for load balancing reasons.

tonytony
11-03-2014, 13:02
In the UK, weekly paid workers are always paid in arrears. So you do a weeks work and then you only get paid for it at the end of the week.

Why should people have to wait an extra three days before getting their money?

Monthly pay is different, you're getting paid partly in advance if you're paid before the end of the month like inorcist says above.

With getting paid twice monthly, like here. I also would not want to wait a couple of extra days - I would rather have my money as soon as possible, thankyou

Lost in moscow
11-03-2014, 15:09
Of course everyone wants to get paid asap. That isn't the point.

The whole point is to help make that pay last a little longer till next payday.

Also I like how everyone here seems to be accustomed at being told how many times a month they get paid. Why do you agree to being paid once/ twice a month if you want your money asap yet think being paid on every monday means having to wait extra days till payday?

It would also assure that the person returns to work after the weekend and doesn't call in sick due to their splitting hangover.

bydand
11-03-2014, 15:57
It would also assure that the person returns to work after the weekend and doesn't call in sick due to their splitting hangover.

Sure... then they'll call in sick on Tuesday.:beerbros:

inorcist
11-03-2014, 15:57
Frankly, I don't like the system of being paid twice a month. I'd prefer to be paid only every other month or maybe even quarterly. It would impose more financial discipline on me.

But I guess people are different.

Lost in moscow
11-03-2014, 17:56
That could work for the upper/ executive management's pay. But for the majority that do not, This would bite them in the butt.
That would also give banks the choice to create a payment plan for those who do get paid quarterly...or maybe not.

penka
11-03-2014, 18:17
That could work for the upper/ executive management's pay. But for the majority that do not, This would bite them in the butt.
That would also give banks the choice to create a payment plan for those who do get paid quarterly...or maybe not.

Got a bank account? Money goes there? Good news! Your bank already got a plan for you!:D SEB, Lloyds or Sber:)