Which would you prefer between monthly pay and hourly pay?

[Etini]

Monthly pay and hourly pay are two different ways that employers can compensate their employees. Each has its own set of pros and cons.

Monthly pay, also known as salaried pay, is a set amount of money that an employee receives each month, regardless of the number of hours worked. One major pro of monthly pay is that it provides a steady and consistent income for employees. This can be especially beneficial for those with families or other financial obligations. Additionally, salaried employees may be eligible for certain benefits, such as health insurance and retirement plans, that hourly employees may not receive.

On the other hand, one major con of monthly pay is that salaried employees may be expected to work more than 40 hours per week without receiving overtime pay. This can lead to burnout and a lack of work-life balance.

Hourly pay, on the other hand, is based on the number of hours worked and the employee's hourly rate. One major pro of hourly pay is that employees are paid for every hour they work, which can result in higher earnings for those who work more hours. Additionally, hourly employees are generally entitled to overtime pay if they work more than 40 hours per week.

A major con of hourly pay is that it can be less consistent and predictable than monthly pay. For example, an employee may work fewer hours in one week and earn less pay as a result. Additionally, hourly employees may not be eligible for certain benefits that salaried employees receive.

Given a chance to choose, which one would you prefer?

 

[arunima25]

I am a special educator and counselor by profession. I made a lateral shift to this profession in 2010. I was into biotechnology and worked in research area till my daughters were born. Then I took a break from 2004_2009 bringing up my two daughters and working online writing articles from home. Later I felt that I needed to be in job that would help me balance work and home with two kids. And since my younger daughter showed learning disability and other challenges, I did Montessori course along with special education and counseling. Since then I have been in this job and truly loved it. Both my jobs were monthly salary and I enjoyed all the perks of a regular salaried employee. But in 2018, I developed some serious health issues working full time became challenging for me. I started working as self employed part time worker to two schools on different days of weeks. I am paid hourly and for the events and sessions that I take there. My hourly rate is decent. I am free by 11:30 and have rest of the day doing chores and other things that I enjoy like online earnings and art and crafts. Even my health is better with short hours of work.
The cons are ... earning less than my monthly salary, not enjoying the benefits of regular employees there and not getting paid during vacations. So, the two months of summer vacation is without pay while the regular teachers and staffs get their monthly salary. I just get paid if I conduct some workshops for parents and teachers during the vacation or if I run a summer camp for students.

 

[Bisolami]

I am a special educator and counselor by profession. I made a lateral shift to this profession in 2010. I was into biotechnology and worked in research area till my daughters were born. Then I took a break from 2004_2009 bringing up my two daughters and working online writing articles from home. Later I felt that I needed to be in job that would help me balance work and home with two kids. And since my younger daughter showed learning disability and other challenges, I did Montessori course along with special education and counseling. Since then I have been in this job and truly loved it. Both my jobs were monthly salary and I enjoyed all the perks of a regular salaried employee. But in 2018, I developed some serious health issues working full time became challenging for me. I started working as self employed part time worker to two schools on different days of weeks. I am paid hourly and for the events and sessions that I take there. My hourly rate is decent. I am free by 11:30 and have rest of the day doing chores and other things that I enjoy like online earnings and art and crafts. Even my health is better with short hours of work.
The cons are ... earning less than my monthly salary, not enjoying the benefits of regular employees there and not getting paid during vacations. So, the two months of summer vacation is without pay while the regular teachers and staffs get their monthly salary. I just get paid if I conduct some workshops for parents and teachers during the vacation or if I run a summer camp for students.

I prefer to get my money every hour because I can use it to do whatever I like that it has its own disadvantages. Getting your money every hour will make you spend your money recklessly especially when you are someone who loves to spend money and possibly so it will be better to go for monthly salary.

Monthly salary will even give you the opportunity to save some money because you are surely going to have some change apart from the money that you are going to be spending so you can just decide to save the money or invest it in another business entirely and it will be very good.

 

[AlexSokol]

Both monthly and hourly pay have their pros and cons. If I had to choose, I would choose monthly. First, it provides a stable and predictable income, which is useful for financial planning. Having a stable salary allows for better budget planning and peace of mind, especially for people with family responsibilities or financial obligations.
Second, employees often have access to additional benefits that can contribute to long-term financial security. These perks can be helpful.