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Nairaland Forum / Nairaland / General / Career / Hourly Wage Vs Monthly Salary: Which Is Preferable And Why? (12495 Views)
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Hourly Wage Vs Monthly Salary: Which Is Preferable And Why? by vikel2104: 6:31am On Jul 22, 2014 |
Employees can either get paid by the hour or by a monthly salary. An employee who is on hourly wage gets paid according to the number of hours he works (overtime is considered) while a salaried worker gets a specified amount at the end of the month regardless of the number of hours spent on the job (there is no regard for overtime here but there can be additional allowances). This is just a sketchy description of the two ways of remuneration. Now, let's consider the two. Which is better for the employee and the employer? Which makes workers more productive? Which gives more job satisfaction? |
Re: Hourly Wage Vs Monthly Salary: Which Is Preferable And Why? by watchthisposter(m): 6:55am On Jul 22, 2014 |
Q1 Employee: Hourly pay (Can stretch one simple task into hours to earn more pay) Employer: Monthly Salary (Can overuse/overstress the employee anyhow he likes and still pay the same thing) Q2 Monthly salary, with a set quota of productivity to meet before pay. Some companies call them KPI's - key performance indices Q3 Hourly pay, you have a measure of control over how much you earn and cannot be overworked and underpaid. 10 Likes
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Re: Hourly Wage Vs Monthly Salary: Which Is Preferable And Why? by robinicule(m): 7:18am On Jul 22, 2014 |
hourly is for ibo men....monthly is for hausa, dey like to save and go bak to dere village 2 Likes |
Re: Hourly Wage Vs Monthly Salary: Which Is Preferable And Why? by watchthisposter(m): 7:23am On Jul 22, 2014 |
robinicule: hourly is for ibo men....monthly is for hausa, dey like to save and go bak to dere village Sure brah, tribalize it. Very mature. 30 Likes |
Re: Hourly Wage Vs Monthly Salary: Which Is Preferable And Why? by robinicule(m): 7:29am On Jul 22, 2014 |
watchthisposter:my point of view no hard feelings brah.....*oneness |
Re: Hourly Wage Vs Monthly Salary: Which Is Preferable And Why? by hydeka: 1:19pm On Jul 22, 2014 |
I agree very much with the first comment. In addition, I think monthly salary gives employees some kind of security, for instance, if you are unable to work for a day maybe due to illness or unavoidable circumstances, it may not (and usually does not) affect your pay unlike in hourly wage. But there is a tendency towards laziness by employees who earn monthly salary. Mods, take this to frontpage. 1 Like |
Re: Hourly Wage Vs Monthly Salary: Which Is Preferable And Why? by masterP042(m): 1:46pm On Jul 22, 2014 |
front page things ! now I'm giving my testimony |
Re: Hourly Wage Vs Monthly Salary: Which Is Preferable And Why? by Nobody: 1:46pm On Jul 22, 2014 |
Monthly o, if i was on a weekly pay roll, i won't be able to save a dime. I will be on a "spend as you go" plan. 2 Likes |
Re: Hourly Wage Vs Monthly Salary: Which Is Preferable And Why? by saasala(m): 1:47pm On Jul 22, 2014 |
Monthly does it well. |
Re: Hourly Wage Vs Monthly Salary: Which Is Preferable And Why? by greall1: 1:48pm On Jul 22, 2014 |
Booked |
Re: Hourly Wage Vs Monthly Salary: Which Is Preferable And Why? by Bawss1(m): 1:48pm On Jul 22, 2014 |
It doesn't matter as long as the pay is good. 2 Likes |
Re: Hourly Wage Vs Monthly Salary: Which Is Preferable And Why? by Donjcco(m): 1:48pm On Jul 22, 2014 |
monthly is better when you work with big companies e.g JCCO OIL & GAS |
Re: Hourly Wage Vs Monthly Salary: Which Is Preferable And Why? by Nobody: 1:48pm On Jul 22, 2014 |
Charge hourly to be paid at the end of the month. |
Re: Hourly Wage Vs Monthly Salary: Which Is Preferable And Why? by FIZIK: 1:49pm On Jul 22, 2014 |
Monthly rate is just convenient, Hourly rate is more efficient. Put in place a measure of checking individual contribution and watch productivity expand FROM AN EMPLOYER POINT OF VIEW 2 Likes |
Re: Hourly Wage Vs Monthly Salary: Which Is Preferable And Why? by tbagjames(m): 1:52pm On Jul 22, 2014 |
I prefer monthly, the only disadvantage is that your girlfriend calls you most around 28th-31st of the month 7 Likes |
Re: Hourly Wage Vs Monthly Salary: Which Is Preferable And Why? by kendrick93(m): 1:52pm On Jul 22, 2014 |
if u are student hourly is gud. bt when u hav responsibilities den monthly is preferable 3 Likes |
Re: Hourly Wage Vs Monthly Salary: Which Is Preferable And Why? by ichidodo: 1:53pm On Jul 22, 2014 |
Get the best of both worlds as you get paid per week.... 1 Like |
Re: Hourly Wage Vs Monthly Salary: Which Is Preferable And Why? by priscaoge(f): 1:54pm On Jul 22, 2014 |
Depending on d amount n nature of the job I will prefer Hourly!!! No one pays me extra when I work 'extra time' based on monthly salary, but once it's an Hourly pay,omo I will be sure of my pepper once am done. 4 Likes |
Re: Hourly Wage Vs Monthly Salary: Which Is Preferable And Why? by freshness2020: 1:55pm On Jul 22, 2014 |
Not about the period of payment... What matters is how Prudential one is! 1 Like |
Re: Hourly Wage Vs Monthly Salary: Which Is Preferable And Why? by uken73(m): 1:56pm On Jul 22, 2014 |
For an employee, monthly pay makes planning easier. But for someone who has self control in spending it does not really matter. As an employer, I would mostly prefer to pay monthly it the work to be performed by the employee is constant. I suppose the hourly pay would be based on Job availability which is better when the work to be performed is not consistently available. But there must be a bases for accessing the work done, else you may have someone waste time so that it would result in more hours to pay. I've used both depending on circumstances.
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Re: Hourly Wage Vs Monthly Salary: Which Is Preferable And Why? by Henrypraise: 1:57pm On Jul 22, 2014 |
4 naija hourly work go be amaja work o, pple go just de sit down de wait make 5 o'clock reach just as wat de av bin doin. 1 Like |
Re: Hourly Wage Vs Monthly Salary: Which Is Preferable And Why? by freecharles(m): 1:57pm On Jul 22, 2014 |
Hourly makes job more productive but Monthly gives more job satisfaction |
Re: Hourly Wage Vs Monthly Salary: Which Is Preferable And Why? by segunbanks: 1:58pm On Jul 22, 2014 |
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Re: Hourly Wage Vs Monthly Salary: Which Is Preferable And Why? by heatmeup(f): 2:00pm On Jul 22, 2014 |
hourly |
Re: Hourly Wage Vs Monthly Salary: Which Is Preferable And Why? by Noctec: 2:01pm On Jul 22, 2014 |
None is better for employee. Be your Boss. |
Re: Hourly Wage Vs Monthly Salary: Which Is Preferable And Why? by psychologist(m): 2:05pm On Jul 22, 2014 |
Re: Hourly Wage Vs Monthly Salary: Which Is Preferable And Why? by b3llo(m): 2:06pm On Jul 22, 2014 |
Monthly is better |
Re: Hourly Wage Vs Monthly Salary: Which Is Preferable And Why? by tuffgongjo(m): 2:06pm On Jul 22, 2014 |
As a Frugal spender,I like hourly wages$because I also don't enjoy been Over worked. |
Re: Hourly Wage Vs Monthly Salary: Which Is Preferable And Why? by poca4real(m): 2:07pm On Jul 22, 2014 |
I work presently with oil and gas construction coy and they are been paid per hour.Our normal working hour is 8hrs{8-5pm}any additional hours is classify as overtime.saturday is 150% of your hourly rate while sunday and public holiday is 200% of your hourly pay.Your payment is calculated based on hours worked.typical hour per month is 174 hour{22 * 8}.other hours worked is classify as overtime. Hourly paid can drive you crazy,as you want to work for more hours while monthly is not. You will not be paid if you did not come to work.{like next public holiday now,no work no pay while work and earn 200% of your daily pay. Is not sometimes productive,cos some people are at work and not give full concentration to the work. You are in control of your time. Both are good depend on environment you find your self 6 Likes |
Re: Hourly Wage Vs Monthly Salary: Which Is Preferable And Why? by berbs113(f): 2:07pm On Jul 22, 2014 |
No Comment... I just dey Observe. |
Re: Hourly Wage Vs Monthly Salary: Which Is Preferable And Why? by category(m): 2:11pm On Jul 22, 2014 |
Is this hourly or monthly? Noctec: None is better for employee. Be your Boss. |
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