can anyone tell me why most people get paid weekly? who came up with this idea?

Answer 1

most people get paid monthly sureley ... at least in the uk they do

Answer 2

I thought most people were salaried these days. I remember back at school being told that this distinction was one of the ways in which the British class system was being perpetuated - the idea was that middle-class 'professional' people had to budget their expenditure over a month, and so were predisposed to 'deferred gratification', and more likely to save, have bank accounts and be interested, politically, in the longer term 'big picture', whereas the weekly paid plebs just eeked out an existence of fags chips and pints from one Friday to the next.
not sure how true all that was, but as I say, I got the impression it's largley a thing of the past.

Answer 3

No most people gets paid monthly - at least that is true in Singapore although some also gets fortnightly pay.

It all depends on the company really.

Paying weekly salaries involved additional work for the accounts department. The companies should actually review the practise and make better use of their manpower.

Answer 4

Long time ago, circa 1900, shipbuilders, factory workers and other 'lower class jobs' would get paid weekly or fortnightly as their job was so unstable, they could get fired virtually with no notice, or an industrial accident could kill them. The weekly payment stuff both made it easier for pay office to pay the wages of fired workers quicker and move on to the next batch of workers.

In these times, directors, owners and shareholders were very important to the company, so they need to give more notice of intent to leave, and so their salary was spread longer. Remember also they tend to get a fixed salary regardless of what they do, not paid per hour or per ship built etc.

Nowadays, jobs are more secure. It is commonplace to require a months notice before leaving, and so the Admin side could be adjusted to reduce time spent on wages and money spent in bank charges etc.

Temps and 'lower staff' (I cant think of a more appropriate term) get paid weekly as their jobs are so unstable, they culd get fired for anything.

Some companies have still stuck with the weekly or fortnightly payouts as it is both traditional and because it keeps the accounts books lower (Less money they owe to people means more worth to the business).

It all depends on the individual situation of the company. I remember one company I worked for (Back when I was an Employee), paid me every 4 weeks because they ran on the Fiscal Tax year, whereas other employers paid me on the 28th or closest to of each month.

Answer 5

I think you'll find most people now get paid a monthly salary. Weekly pay packets are often paid to shop or shift workers who may have more variable hours and therefore have immediate bonuses coming.

Answer 6

Temps get paid on a weekly basis because they are going to be let go sooner than later.

Answer 7

I thought most got paid monthly- anyway saves admin costs rather than doing in daily.

Answer 8

i get paid weekly.i used to get paid monthly in a previous job.i hated it.id spend it all in the first few weeks and be pennyless for the rest of the month..but now i have always got plenty of spare cash to waste

Answer 9

Far as I know everyone gets paid monthly!

Answer 10

being paid weekly is to benefit little people not for richer people. bank of england introduced it so people could manage money better and they could make a little profit to. sneaky

Answer 11

I'm pretty sure that most people get paid monthly - in the UK, at least.