Thursday, June 7, 2007

The best times to use PTO and get Overtime

Although this might seem a little silly, your time just might be worth more to your employer depending on what month it is. That is, if you get paid salary on an hourly basis. Here is a breakdown of how it works for me:

Normal work period - 11 days - 88 hours.
Extended work period - 12 days - 92 hours.
Short work period - 10 days - 80 hours.

Hourly pay = Salary / 24 (paychecks per year) / hours in pay period

Therefore my hourly pay goes up for pay periods with fewer hours and vise-versa. It works out in your favor when you take paid time off (PTO) when you aren't worth as much per hour. It also works out, perhaps more noticeably so if I were to work an extra hour for a 10 day paycheck.

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