I think this is mostly a US thing. Why use yearly salary? You’re not paid once a year, are you? Most likely once a month. Referencing monthly salary makes much more sense.
“I’m making 50k”. Great, now I have to guess - dollars? Monthly? Yearly? If yearly then what’s the monthly paycheck? Net? Gross?
Lol who would hear “I’m making 50k” and think it’s anything other than per year unless they just stepped out of a private jet…
I feel like this might be confusing only if you are under the age of 14 and have no idea how money or the world works…
Depends on the currency.
Not in basically all of the English speaking world. USD, CAD, AUS, Pounds, Euros, NZD. 50k a month or week or whatever you for some reason think it might be other than a year would be an insane amount of money to make.
I bet you’re the kind of person that hates it when you ask the time and people respond by rounding it to the nearest 10 minutes…
Did you just assume my ¥der?
That was funnier than it should have been
The exchange rate is pretty good right now.
Not really. It’s usually obvious from context. Unless you’re trying to be an intentionally obtuse pedant?
I know people who make 50k per month and don’t have jets. I make 30k p/m but I’ll get there one day. It’s crazy how when I was broke making $20/hour in a cafe that I thought everyone or most people are broke but now I’m making modest money it’s crazy how many other entrepreneurs are in my circle now. Just wow.
Lol this piss take xD
Why use yearly salary? You’re not paid once a year, are you? Most likely once a month. Referencing monthly salary makes much more sense.
Except plenty of people don’t get paid monthly? I’ve been paid weekly, every other week, twice a month. I’ve been paid daily, I’ve also been paid per project. Once I was paid whenever i asked. Focusing on yearly salaries offers a convenient reference point.
I mean, you just basically answered your own question. People get paid hourly, weekly, every 2 weeks, monthly, and some even per sale (ie. Realtors) so the only way to have a constant measurement is yearly.
Why not monthly? It seems the smallest unit to encompass them all, and is fairly standard.
Monthly makes sense also since most bills are monthly.
Until you have people who get a yearly bonus. Or 13 or 14 monthly salaries a year, which is quite common in Germany (basically a bonus, but the employee is entitled to it).
Because that’s the standard and that is the wage I negotiated and my bi-weekly checks are that number/26. I didn’t negotiate a per-payperiod rate.
It’s what my taxation is based on.
It’s what all my credit applications ask for.
Also, what you make and what you take home are really quite variable based on circumstance between 2 people making the same base wage. Retirement contributions, health care premiums, taxes, and other deductions vary from person to person.
For salaried employees it’s the standard metric by which wages are measured. You don’t need to guess anything. That’s the standard.
For hourly employees, that would be your hourly rate. Since hours can be variable and overtime is a thing your yearly rate would be variable too.
Seriously there’s nothing to guess.
It’s pretty standard in Europe too. It’s what you see when filling your taxes, but very often people have bonuses, over-time, 13rd month and other things making monthly pay not relevant
Personally, I don’t get paid every month, I get paid every two weeks, which means that some months I get paid twice and some I get paid thrice. Stating an annual value corrects for weird shit like this, and it’s going to be consistent since it’s probably how it is being tracked in the employer’s accounting.
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