Monthly paid

[Tman]

Someone's bound to bring up February 29th in a minute..

[Jefferson Starfish]

No there's not 53 weeks in any year

For weekly paid there is sometimes 53 weeks in a tax year. Because there's 52 7 day weeks plus another 5 days in each year, or 6 on a leap year.

[Scointer]

For monthly paid you need to forget about how many weeks/days there are in a month for your basic salary (OT is a different matter).
Everyone wants to get the same basic amount each pay day (whether you are weekly or monthly paid) as it helps everyone budget. Therefore your basic pay for monthly paid is averaged out to make it exactly the same every month.

You take your weekly hours x hourly rate x 52 (weeks in a year) then divided by 12 (months in a year) and that is the amount you get every month.

For example a twenty hour weekly contract works out in hours as

20 x 52 / 12 =86.667 and that is pretty much what you should see on your payslip on the first line as your basic pay every single month (it is actually 86.58 because there are 365/366 days which isn’t exactly 52 x 7 but hopefully you get the idea).

OT is obviously a different matter as that will change between 4 or 5 weeks depending on when the cut of for that month is.

[heraldmoth]

Put simply the months u only work 4 weeks, if u break it down you’re probably being paid 4.5 weeks, ie over paid. If in doubt work out your weekly hours x by hourly rate x by 52 and then divide by 12 as many have stated. The fact that you are questioning so many ppl should sound alarm bells

[Peabrain22]

What do you mean questioning so many people..we are on the new contract scene..but when you notice you've done an extra week in a 5 week month you somehow sit down and say hey hold on,the old contracts get paid weekly and have 5 weekly payments and here we are waiting 5 weeks from the middle of December and actually tonight still waiting on our wages sorry salary to be paid in..it's hilarious.. no point someone coming on here defending royal mail when I am stating a clear shambolic flawed system.the reality is we all should be on the one pay system and it won't be long to that happens as well..probably overnight to so union have no involvement

[Jonathan Alsatian]

Annual salary divided by 12 gives you 12 equal monthly payments and because that covers the full year it obviously also covers every week that you worked that year

Does that make sense?

I'm on monthly pay too but I'm not fretting because I can do maths