Floating payday

lenovoguy

Hi all

There's a bit of a strange arrangement in work regarding the day we're paid. It's not fixed, all we know is that it will be the last day of the month at the latest, so for instance from February onwards, I got paid on the 27th, the 30th, the 30th, the 27th and then the 26th. It's incredibly annoying because it makes working out your cash flow for the month harder, and also every other company I've worked for has had a fixed payday. Has anybody else experience a similar situation?

niceirishfella

lenovoguy wrote: »

It's incredibly annoying because it makes working out your cash flow for the month harder

My response is inevitable but here goes ; I think it would be harder to "work out your cashflow" if you were on the Dole.
And you think you've got problems ehhhh:rolleyes:

lenovoguy

Not really, at least with the dole you get it on the same day!!

leeroybrown

I don't think that a floating pay-day is all that unusual. It generally ends up being something like the last Wednesday/Thursday before the end of the month or a specific date in the month.

petes

A place I used to work for we were paid on the last Friday of every month. Don't think it's that unusual.

helimachoptor

Mine is the last friday of each month.

Hagar

Is it something as simple as them paying you on the last banking day of the month? If so they are doing you a favour.
If Sunday was the 31st they will process your salary on the 29th. If it was done automatically on the 31st, a non-banking day, you wouldn't see your pay in your account as quickly.

dmigsy

Doesn't sound like that big a deal. Surely you just budget that you get paid on the last day of the month?

My place pays on a regular date but we get paid earlier if that date falls on a Saturday/Sunday.

loyatemu

the way I generally budget is that one months pay covers my bills and expenses for the following month - works well enough.

dudara

We're the 2nd last banking day of each month. The solution is: get a diary, mark each pay day in the diary and work to that schedule.

Eoin

lenovoguy wrote:

also every other company I've worked for has had a fixed payday

What happened if that fixed date was on a weekend - would that not have varied the actual pay day as well?

dudara

If the fixed pay day falls on a weekend, then people usually get paid on the Friday before the weekend.

Eoin

dudara wrote: »

If the fixed pay day falls on a weekend, then people usually get paid on the Friday before the weekend.

That's what happens in my place, which makes me think the OP has had floating pay days before.

lenovoguy

I think you guys are misunderstanding me. The payday floats because we aren't given a fixed day of the month, or the last banking day of the month, or the last monday/tuesday/wednesday/thursday/friday of the month. It literally seems to be decided at the whim of our parent company. The reason it bugs me is that it complicates what should be (and is practically everywhere else) a very simple and set-in-stone arrangement, and I also worry that it could be a sign of cashflow problems.

gerrycollins

lenovoguy wrote: »

Hi all

There's a bit of a strange arrangement in work regarding the day we're paid. It's not fixed, all we know is that it will be the last day of the month at the latest, so for instance from February onwards, I got paid on the 27th, the 30th, the 30th, the 27th and then the 26th. It's incredibly annoying because it makes working out your cash flow for the month harder, and also every other company I've worked for has had a fixed payday. Has anybody else experience a similar situation?

ok you get your money on the last banking day of the month

However where a months ends close to a weekend you payroll will be processed a few days early thus making sure you get paid in time but it then depends on the banks.

I remember a old employer paid me this way and banked with the same bank as me so sometimes I got my money earlier than some of my work mates who banked elsewhere especially when a weekend was calculated into the equation

markpb

lenovoguy wrote: »

I think you guys are misunderstanding me. The payday floats because we aren't given a fixed day of the month, or the last banking day of the month

What does your contract say?

adrian522

It's perfectly normal, we get paid last Friday of the Month. It can be annoying though as some months are 5 weeks and some months 4 weeks but it just requires a little discipline.

Mrs OBumble

OP you're right that this can be a sign of the company having cashflow problems. But since the trend isn't always the same way (ie pay gets later and later each month), hopefully you've nothing to worry about.

In terms of cashflow, assume you'll get the dosh on the last day of the month, if that's worst case. And there will be some months where you get the "bonus" of having it early.

Xiney

Every month I make a budget.

I start with what's coming into the account. If there's anything left over from the previous month (hopefully!) I put it straight into savings.

I look at how many weekends there are and decide what we're likely to do (cinema? visit the parents? pub? finally use that gift certificate to that popular restaurant that we've had for 8 months but haven't used yet because it only covers one meal?) and budget for each weekend. For example, I'll say we have 40 euro with which to go to the pub next weekend. 10 of that is for the taxi home. Which leaves 30 euro for drink = 3 drinks for him, 2 for me. We can nurse those alllllll night.

I look at how many Mondays there are and budget 50 euro per weekly shop (food, toiletries and cleaning products). Every week I make a menu so that I know what to buy on Monday.

I budget for the bills that will have to be paid (net and leccy) and if we need to buy pet food/vet bills.


Basically, because I so anally plan everything out, in theory, I know we'll be ok by the end of the month. Of course then we accidentally adopt a puppy, who gets sick, and costs us 350 euro in vet bills...... but that's life. And that's why we have savings.