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...
this post was submitted on 01 Sep 2023
0 points (50.0% liked)
Asklemmy
43141 readers
1645 users here now
A loosely moderated place to ask open-ended questions
Search asklemmy ๐
If your post meets the following criteria, it's welcome here!
- Open-ended question
- Not offensive: at this point, we do not have the bandwidth to moderate overtly political discussions. Assume best intent and be excellent to each other.
- Not regarding using or support for Lemmy: context, see the list of support communities and tools for finding communities below
- Not ad nauseam inducing: please make sure it is a question that would be new to most members
- An actual topic of discussion
Looking for support?
Looking for a community?
- Lemmyverse: community search
- sub.rehab: maps old subreddits to fediverse options, marks official as such
- !lemmy411@lemmy.ca: a community for finding communities
~Icon~ ~by~ ~@Double_A@discuss.tchncs.de~
founded 5 years ago
MODERATORS
Depends on the currency.
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.
Because that's the standard
Where?
It's not standard for me. We only talk about monthly numbers with my colleagues and friends.
I'm sure outside the US it's even more customary, annual salaries are to include all bonuses.
That was my thought too. In Tech we do the same because of total compensation. Stock (options), bonuses etc. have a yearly cadence.
Also some places have a 13th salary, so yearly makes sense there too.
Yearly, because over here some people get 12 salaries a year,some 13, some 14 and some even 15.
The yearly income covers that and also includes yearly or semi-yearli boni.
Happens in germany too. A lot of people get a special salary at the end of the year, Christmas money if you will, and that also accounts into the yearly salary. If I earn 4K a month, I earn 48K a year, but if I get 100% christmas money, I earn 52K.
Wwll, I get 14 monthly payments a year, so two times a year the double amount, plus a yearly bonus, plus a fixed one time payment, so monthly would simply not represent how much i get yearly.