what are the pros of being a salary employee? [Archive]

Patrick del Poker Grande

06-24-2005, 01:15 AM

It means you know exactly what to expect your paycheck to be each month/half-month/week and paid vacation, as well as better benefits usually. Unfortunately, it also means you often times end up working more than 40 hours with nothing extra to show for it except a pat on the back. There are some salaried positions that do pay overtime, though it's usually straight time and not time and a half. My wife gets this, as do a few of my friends). I'm in the no overtime camp and I actually do end up working a lot of extra hours from time to time (this week and last week, I've been working until midnight and beyond). I do usually get to blow off a day or an afternoon when this happens, though. It all works out. Plus, there's bonuses.

All in all, I prefer salaried to wage.

ThaSaltCracka

06-24-2005, 01:18 AM

yeah, this place is pretty cool, great work enviroment, great benefits too. But I have a feeling I will be working 45-50 hour weeks.

Patrick del Poker Grande

06-24-2005, 01:21 AM

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I have a feeling I will be working 45-50 hour weeks.

[/ QUOTE ]
That's probably taken into consideration when the pay is negotiated. When I took my job, I knew what the salary and bennefits were and I knew what the work effort expectations were.

ThaSaltCracka

06-24-2005, 01:23 AM

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I have a feeling I will be working 45-50 hour weeks.

[/ QUOTE ]
That's probably taken into consideration when the pay is negotiated. When I took my job, I knew what the salary and bennefits were and I knew what the work effort expectations were.

[/ QUOTE ]yeah, I think I sort of took this for granted. Oh well, my medical is 100% paid for, which is sweet.

Patrick del Poker Grande

06-24-2005, 01:24 AM

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
I have a feeling I will be working 45-50 hour weeks.

[/ QUOTE ]
That's probably taken into consideration when the pay is negotiated. When I took my job, I knew what the salary and bennefits were and I knew what the work effort expectations were.

[/ QUOTE ]yeah, I think I sort of took this for granted. Oh well, my medical is 100% paid for, which is sweet.

[/ QUOTE ]
That is pretty nice. I get pretty good benefits from my job. Luckily, it's a waste on me, but it's great for my wife. You'll learn to appreciate these things that a lot of people overlook when thinking about how much money they're making.

Dead

06-24-2005, 01:24 AM

Mine is all covered except for co-pays.

ThaSaltCracka

06-24-2005, 01:33 AM

yeah, the last job I had I was paying about $100 a month for it, and it wasn't as good of coverage.

sublime

06-24-2005, 01:37 AM

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Mine is all covered except for co-pays.

[/ QUOTE ]

yes i looked to see what you typed. who fcuking cares about your medical benefits? why even make this post?

Dead

06-24-2005, 01:46 AM

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Mine is all covered except for co-pays.

[/ QUOTE ]

yes i looked to see what you typed. who fcuking cares about your medical benefits? why even make this post?

[/ QUOTE ]

Yes, sublime, I have heard about your medical troubles.

I am sorry that you are fat. I hope that you lose the weight before you die.

Best wishes,
Dead

nolanfan34

06-24-2005, 01:52 AM

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I just got a new job, and for the first time I am a salary employee. So that means no paid OT. Anything good about this?

[/ QUOTE ]

This is very, very simple.

When you're salaried, you're much, much less likely to get screwed around on your hours each week. At places where I've worked, you could always count on things like being told to go home early to avoid overtime, especially if you've worked a long day before. Employers will schedule you as many hours as possible whenever it's convienent to them, not for you, as long as it doesn't go over 40.

Salaried means that yes, you might work a little more in a week. But it's much more stable I think, which is worth the tradeoff. And if you're getting bene's, then even better.

Patrick del Poker Grande

06-24-2005, 02:02 AM

Oh yeah and congrats on the new job, by the way.

fluxrad

06-24-2005, 02:04 AM

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Ummm....you can work 35 hours a week and still get paid the full amount.

[/ QUOTE ]this won't be happening.

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I said can. Not will.

I much prefer being salaried to hourly.

[/ QUOTE ]

Sorry - to clarify:

The pro is that you're paid to to a job instead of the hours worked towards doing the job. It really translates to the fact that you're now paid to be a "professional." This is why I prefer the salary. It's not just about the certainty of the paycheck. It's about the level of respect that comes with it (or, that tends to come with it).

Patrick del Poker Grande

06-24-2005, 02:05 AM

[ QUOTE ]
The pro is that you're paid to to a job instead of the hours worked towards doing the job. It really translates to the fact that you're now paid to be a "professional." This is why I prefer the salary. It's not just about the certainty of the paycheck. It's about the level of respect that comes with it (or, that tends to come with it).

[/ QUOTE ]
This is a good point, too. It's less of a babysitting, nitpicking over every last minute as you clock in and clock out kind of thing.

vulturesrow

06-24-2005, 02:10 AM

[ QUOTE ]
I just got a new job, and for the first time I am a salary employee. So that means no paid OT. Anything good about this?

[/ QUOTE ]

Does this mean you arent a secretary any more? /images/graemlins/smile.gif

ThaSaltCracka

06-24-2005, 02:14 AM

[ QUOTE ]
[ QUOTE ]
I just got a new job, and for the first time I am a salary employee. So that means no paid OT. Anything good about this?

[/ QUOTE ]

Does this mean you arent a secretary any more? /images/graemlins/smile.gif

[/ QUOTE ]yup, I have one boss, but I have my own department.

Thanks Patrick, and everyone else that replied.

vulturesrow

06-24-2005, 02:22 AM

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
I just got a new job, and for the first time I am a salary employee. So that means no paid OT. Anything good about this?

[/ QUOTE ]

Does this mean you arent a secretary any more? /images/graemlins/smile.gif

[/ QUOTE ]yup, I have one boss, but I have my own department.

Thanks Patrick, and everyone else that replied.

[/ QUOTE ]

Well congratulations certainly. Guess I wont be sending you any flowers on Secretaries Day. /images/graemlins/smile.gif

ThaSaltCracka

06-24-2005, 02:26 AM

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
I just got a new job, and for the first time I am a salary employee. So that means no paid OT. Anything good about this?

[/ QUOTE ]

Does this mean you arent a secretary any more? /images/graemlins/smile.gif

[/ QUOTE ]yup, I have one boss, but I have my own department.

Thanks Patrick, and everyone else that replied.

[/ QUOTE ]

Well congratulations certainly. Guess I wont be sending you any flowers on Secretaries Day. /images/graemlins/smile.gif

[/ QUOTE ]DAMN, I had a spot all cleared and everything. Say it ain't so Slim.

vulturesrow

06-24-2005, 02:29 AM

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
I just got a new job, and for the first time I am a salary employee. So that means no paid OT. Anything good about this?

[/ QUOTE ]

Does this mean you arent a secretary any more? /images/graemlins/smile.gif

[/ QUOTE ]yup, I have one boss, but I have my own department.

Thanks Patrick, and everyone else that replied.

[/ QUOTE ]

Well congratulations certainly. Guess I wont be sending you any flowers on Secretaries Day. /images/graemlins/smile.gif

[/ QUOTE ]DAMN, I had a spot all cleared and everything. Say it ain't so Slim.

[/ QUOTE ]

Maybe on your birthday...

codewarrior

06-24-2005, 07:03 AM

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But I have a feeling I will be working 45-50 hour weeks.

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LOL. Pussy.

scalf

06-24-2005, 07:24 AM

/images/graemlins/grin.gif /images/graemlins/diamond.gif..

hopefully the check don't bounce..you get real money regularly..that's the real edge..

ya gotta watch out for working unpaid o.t. companies will really take advantage of young , willing workers..

gl

/images/graemlins/grin.gif /images/graemlins/diamond.gif

jakethebake

06-24-2005, 08:46 AM

Congrats on the new job. What are you doing now?

StevieG

06-24-2005, 09:22 AM

Congrats on the new job.

Biggest benefits for salaried employees are steady pay not based on available work, solid benefits, and the ability to negotiate your own pay.

Benefits

Do you have a 401(k) plan available? If your employer has any matching contribution, contribute at least what you need to max out that matching contribution. That's like giving yourself a raise from the start. Sign up for it now, so that you won't ever miss that chunk of your paycheck.

Find out the details of any flex spending for medical. Flex spending is money you set aside before taxes for medical bills. I'm assuming you're a younger guy, so you won't have much, but take a look at the plan details if it exists. Sometimes you can use flex spending for health club membership, massage therapy, and cosmetic dentistry. If you spend $50 a month on a gym, wear eyeglasses and buy a pair for $200, get some tooth whitening done -- that can add up to a $1000. Use flex spending for it, save a few hundred in taxes.

Negotiating your own pay

You're not on a wage scale. A larger company may have grades and so forth, but even those places have sliding amounts for yearly increases. So be ready for your yearly review starting now.

Keep note of the assignments given to you, any tasks you take on of your own accord, and the feedback you get from your supervisors and colleagues.

trotski

06-24-2005, 11:52 AM

Where are you working Cracka?

SomethingClever

06-24-2005, 11:53 AM

Make sure you take extra-long lunches and leave early at every opportunity.

Makes up for the unpaid OT.

Edit: Seriously, though, congrats.

Every place I've ever worked has been pretty flexible in terms of stuff like this, so I'm prolly spoiled.

My general philosophy is that I have no problem with staying however long it takes to get the job done, as long as my employer is cool with me leaving early when I finish early (which happens to be 90% of the time).

swede123

06-24-2005, 12:00 PM

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That is pretty nice. I get pretty good benefits from my job. Luckily, it's a waste on me, but it's great for my wife.

[/ QUOTE ]

Medical benefits are SOOO much more important if you are married, as women seem to spend money on doctor visits and prescriptions whether they are healthy or not. In the 11 months my wife and I have been married she has used more medical/dental benefits than I have combined in the five years I've been working for my current company. In the poker game of life, women are the rake.

Swede

DeezNuts

06-24-2005, 02:13 PM

I work as a consultant and am paid hourly. I worked at my co. for 3 years salaried, left for 6 mos. and came back as a hourly employee.

Benefits are usually overrated on the young, single, and healthy. I think I used the health insurance a total of 3 times(basic dr. visits) when I was salaried. I get paid twice as much, but this makes it hard for me to take time off(I know it shouldn't). When I was salaried I used and abused the sick day/vacation time policy like crazy and basically took every other Friday off.

Just contribute to an IRA to substitute for a 401k. And the tax writeoffs(if you have a good tax guy) are great as a wage employee(my effective rate was around 10% last year).

DN

ThaSaltCracka

06-25-2005, 01:36 AM

for those that asked, its a small tech company, if you are even more intrigued, PM, and I may give some details.

ThaSaltCracka

06-25-2005, 01:38 AM

Stevie, interesting post. I will have to check out that flex pay stuff. As for the pay thing, I will keep track of what you suggested.

As for 401k, sadly, I don't believe I have that, do any of you gusy have some suggestions for a private investment, perhaps something that is $50 or so a month, that I contribute that is worth my while. $50 is all I can reasonably contribute right now.

jakethebake

06-25-2005, 10:28 AM

One pro is that you don't have to choose your doctor/dentist from the yellow pages anymore. /images/graemlins/grin.gif

StevieG

06-25-2005, 04:10 PM

With just $50 a month, I would open an online savings account getting 3% interest and no minimum balance. You can establish an automatic transfer from your checking account to that online savings every month.

In lieu of a 401(k) you will want to start an IRA for yourself. You can contribute up to $4000 a year (assuming you are single and your income for tax purposes is less than $95,000). An IRA grows tax free, making it a fantastic investment option for your long term goals. You can invest your IRA funds conservatively or aggressivly. Do what you can to carve out some extra money each month to make this happen.