A not so fun 'fun fact'. Unless you work for yourself, it's very likely that you are working for free today. Year salaries are almost always based on 365 days a year. Because it's a leap year this year, you're working an extra day, essentially for free. Another plus for working for yourself! ;)
You're probably working for free today
1–6 of 6 posts
Re: You're probably working for free today
#2If salaries are paid every two weeks (like mine) then you are not "working for free". If salaries are paid bi-monthly then you can make the case...but it's still not really working for free as you say. I'm not putting in an "extra day" of work, I'm merely working a regular Wednesday, that happens to fall on a leap year.
Re: You're probably working for free today
#3>>Year salaries are almost always based on 365 days a year
Nope. Year salaries are based on .. well.. year.
29th feb is part of the current year. It's still current year. Not current year PLUS one day.
Re: You're probably working for free today
#4>>Year salaries are almost always based on 365 days a year Nope. Year salaries are based on .. well.. year . 29th feb is part of the current year. It's still current year. Not current year PLUS one day.
From the NWPC (for US): The factor 365 days in a year is used in determining the equivalent annual salary of monthly-paid employees. Same applies in EU.
Re: You're probably working for free today
#5If salaries are paid every two weeks (like mine) then you are not "working for free". If salaries are paid bi-monthly then you can make the case...but it's still not really working for free as you say. I'm not putting in an "extra day" of work, I'm merely working a regular Wednesday, that happens to fall on a leap year.
True - if paid monthly, you're essentially working for free today.
Re: You're probably working for free today
#6If salaries are paid every two weeks (like mine) then you are not "working for free". If salaries are paid bi-monthly then you can make the case...but it's still not really working for free as you say. I'm not putting in an "extra day" of work, I'm merely working a regular Wednesday, that happens to fall on a leap year.
Unless your employer has already factored this into your fortnightly pay packet which may be slightly less than it was last year, to ensure your final annual salary remains the same. Assuming you have not had any other pay increases since last year, you may want to compare your pay slip from late last year with one from this year.