Originally posted by Opportunity Knox
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Reply to: Monthly or Weekly Wages?
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Previously on "Monthly or Weekly Wages?"
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Simples !
Originally posted by smalldog View Postbusinesses are all about cashflow, cashflow and cashflow. the sooner you get the money the sooner you can invest it and make more. weekly...simples...if you get it monthly, it means someone somewhere is earning the interest and/or using it to make them more.
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i would go with monthly. as stated previously it is much less hassle. unless of course you have a need for the money sooner. if it your first contract maybe do weekly to get some money come inthen swithc to monthly
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I'd go with monthly. In my experience agencies are more likely to lose track of weekly timesheets especially when you've got "Janine" the office admin collating them. Honestly how hard is it for an agency to do a payroll run on time?
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Originally posted by smalldog View Postbusinesses are all about cashflow, cashflow and cashflow...
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businesses are all about cashflow, cashflow and cashflow. the sooner you get the money the sooner you can invest it and make more. weekly...simples...if you get it monthly, it means someone somewhere is earning the interest and/or using it to make them more.
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Originally posted by TriggerHippy View PostIt's always weekly for me .... it's one way of limiting your exposure in case the umbrella co goes bust
The agency contract is a primary driver on how often an umbrella will pay.
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Well, I asked because I wanted to know. Based on opinions given by members for my query, I preferred monthly wage.
I apologise if I was not descriptive enough when I said I prefer monthly wage.
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It's always weekly for me .... it's one way of limiting your exposure in case the umbrella co goes bust
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Originally posted by Byte View PostHi,
I am new to contracting and would be going with an umbrella company soon. I see many umbrella's provide option of Weekly and Monthly wages. What do you currently find useful?
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Thank you all for the reply. This is helpful. I would prefer monthly wages.
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When I was with Parasol a few years back, they'd pay me whenever the agent paid them. In other words it's up to the agent, nothing really to do with the umbrella.
But some may operate differently. Personally I think whatever option limits your exposure to agent or umbrella going bust is best. I've always managed to be paid weekly by agents (except for the direct contract I did and the client went bust owing me a month's worth ).
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I think this answer really depends on what you need.
If you need the money weekly, then its best to be weekly.
But that means weekly timesheets,expenses and a higher fee on an annual basis.
Monthly fees tend to be lower on an annual basis than weekly.
Phil
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Surely this is a completely personal question and the answer is dependant on your circumstances alone?
Can you be bothered with the constant hassle of all the extra work monitoring and checking weekly pay instead of monthly.
Can you budget well enough to get paid once a month or do you need your cash there and then every week? How are your bills set up, monthly/weekly.
Do you just like seeing the cash there every week?
Bearing in mind all proffesional staff get paid monthly I can't see why you can't bring your heard around to it as well, again bearing in mind most bills/direct debits and so on are all monthly, surely budgetting would be easir.
At the end of the day its down to what YOU want to do.
Hope that helps.
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