Do salaried employees get paid extra on leap years?

[SOFTengCOMPelec]

I've had salaried jobs where the salary was discussed in monthly, not yearly terms. For example, $6000 per month. And raises were discussed the same, a $300 or $250 per month raise. And you can be sure nobody ever said: You'll be getting a little less in February, or there will be a slight difference in you paychecks in 30 day vs. 31 day months.

What I would like to do, is get paid daily, with a high rate of pay, to work on the international space station.

Apparently it has 16 day/night cycles per day (24 Hours, 90 minutes a time). Since it orbits the Earth, 16 times a day.

So technically they can pay me high-rate-of-pay x 16 x days-worked.

 

[jlee]

I get paid X per year. My paycheck shows a breakdown of my hourly rate, which varies based on how many days were in that particular pay period. So, every paycheck is the same amount regardless of when it is, and my effective hourly rate is flexible.

 

[Adul]

A decent chunk are paid biweekly. Disagree with your use of "vast."

But no, this is a stupid thread and point.

I am paid biweekly

 

[Paratus]

I've been salaried and payed:

Weekly
Bi-weekly (every 2 weeks)
Monthly

My salary was quoted yearly but divided by 2080 hours (52 weeks at 40 hours per week) and paid hourly:

40 hours for weekly
80 hours for bi-weekly
However many days worked times 8 hours per day in the calendar month for monthly.

So I was always payed for a leap day. My yearly salary might have been higher than quoted when a leap year occurred or when paychecks fell right at the end of the year like CPA mentioned

The bi-weekly was for working for the government. The others were various large government contractors.

 

[HardcoreRobot]

annual salary / paychecks

thats pretty much all you need to know if you are salaried. beyond that, when you work and how much is something dictated by you and your company.

 

[Phoenix86]

annual salary / paychecks

thats pretty much all you need to know if you are salaried. beyond that, when you work and how much is something dictated by you and your company.

Yeah, except one year when the number of paydays/year was different everyone freaked out when their weekly checks were less.

 

[kranky]

You don't get paid extra for the scenario you described, but there are years when you might.

If you're paid every other Friday, the calendar sometimes works out that you get 27 paychecks in one calendar year. (Leap year irrelevant) If your company doesn't adjust your checks for that, you win.

For us it was 2010. First payday fell on Jan 1, last day of the year was Dec 31 which became the 27th payday of the year.

 

[Phoenix86]

You don't get paid extra for the scenario you described, but there are years when you might.

If you're paid every other Friday, the calendar sometimes works out that you get 27 paychecks in one calendar year. (Leap year irrelevant) If your company doesn't adjust your checks for that, you win.

For us it was 2010. First payday fell on Jan 1, last day of the year was Dec 31 which became the 27th payday of the year.

The company did adjust, one more paycheck/year = less $/check. Everyone saw the total amount/check go down and went nuts. No one was being paid less, just less/check.

 

[bignateyk]

There are 365.25 days in a year. On non leap years, are you re-imbursing your employer for the extra quarter of a day you got paid for that you didn't work?

If the answer is yes, then I agree, they should be paying you for that extra day.

 

[kranky]

The company did adjust, one more paycheck/year = less $/check. Everyone saw the total amount/check go down and went nuts. No one was being paid less, just less/check.

That's what I would have expected, but they didn't do it. I wonder if they didn't realize it until part way through the year and concluded it was too late to fix it.

 

[Carson Dyle]

There are 365.25 days in a year. On non leap years, are you re-imbursing your employer for the extra quarter of a day you got paid for that you didn't work?

If the answer is yes, then I agree, they should be paying you for that extra day.

What job do you have where you work every day of the year? That sucks.

 

[Engineer]

That's what I would have expected, but they didn't do it. I wonder if they didn't realize it until part way through the year and concluded it was too late to fix it.

As I said above, the previous company I worked for did the same as yours and didn't lower the check. They even included the extra money in the yearly plan.

 

[Engineer]

There are 365.25 days in a year. On non leap years, are you re-imbursing your employer for the extra quarter of a day you got paid for that you didn't work?

If the answer is yes, then I agree, they should be paying you for that extra day.

It's actually 365.24, not 365.25....but who's counting? :biggrin:

(Except me).

 

[bignateyk]

It's actually 365.24, not 365.25....but who's counting? :biggrin:

(Except me).

Yeah.. that's why there are also things like leap seconds.

 

[02ranger]

If you're SNE you do. If you're exempt, well guess what?

I got a question for you. My job was just converted to Salary Non-Exempt from Hourly, but I'm still getting paid by the hour. My check says SNE but if I work >40 hours, I get OT pay. That's great, but if I work <40 hours I just get paid for the hours I worked at normal rate. That seems like just hourly to me. My question is, is that consistent with SNE or am I still really hourly? What would SNE be like?

Just in case anybody's wondering, I actually did call my HR department with this question and when I asked HR what the difference between hourly and SNE was, their answer was, verbatim "I don't know, you'll have to ask your supervisor." The supervisor's answer was, verbatim, "I don't know, you'll have to call HR." :\

 

[cbrunny]

I get 26 pays per year, so bi-weekly. Salaried. Non-union.

My paycheques are calculated hourly, which in effect is daily. I assume I'm paid an extra days work as a result.

Edit: confirmed that I am paid an extra day for Feb 29.

 

[lupi]

You're not the only one regardless of the collective peanut gallery that thinks this is a non-possibility.

 

[kranky]

I got a question for you. My job was just converted to Salary Non-Exempt from Hourly, but I'm still getting paid by the hour. My check says SNE but if I work >40 hours, I get OT pay. That's great, but if I work <40 hours I just get paid for the hours I worked at normal rate. That seems like just hourly to me. My question is, is that consistent with SNE or am I still really hourly? What would SNE be like?

Just in case anybody's wondering, I actually did call my HR department with this question and when I asked HR what the difference between hourly and SNE was, their answer was, verbatim "I don't know, you'll have to ask your supervisor." The supervisor's answer was, verbatim, "I don't know, you'll have to call HR." :\

Here's my understanding: SNE is just as you described it. It's just like being hourly, but overtime hours (> 40/week) may be paid at the normal rate, the time and a half rate, or 50% of the normal rate (rules are complex but employer must disclose the method). You can be docked for missed time.

Basically SNE exists to simplify life for payroll departments so they don't have to do time cards and all that overhead. You make the assumption everyone works 40 hours a week, and adjust when necessary.

 

[Golgatha]

One on the 1st and one on the 15th of every month.

My wife gets paid on the 15th and 28th. If those dates fall on a weekend she gets paid the Friday before those dates. My job pays every 2 weeks. I kinda wish it was standard to get paid twice a month for budgeting purposes, but whatever.

 

[IndyColtsFan]

The only places I've ever seen salaried people get paid biweekly (I've never seen weekly) were at small companies when there are also hourly employees. Payroll for these companies is such an accounting hassle, that it just makes it easier when everyone gets paid on the same dates, both salaried and non. Larger companies, or companies where everyone is salaried tend to pay monthly or bimonthly.

Some states have laws stipulating that companies must offer the option to get paid biweekly instead of monthly. I worked for a large, Fortune 500 company and by Indiana law, they had to offer you the option of being paid biweekly as opposed to monthly. HR "encouraged" us to choose monthly since that's how the company preferred to pay people (in other words, it allowed them to bank payroll and collect interest longer), but most here in Indiana selected biweekly.

FWIW, I'm currently a consultant paid by the hour and I get paid twice per month.

 

[02ranger]

Here's my understanding: SNE is just as you described it. It's just like being hourly, but overtime hours (> 40/week) may be paid at the normal rate, the time and a half rate, or 50% of the normal rate (rules are complex but employer must disclose the method). You can be docked for missed time.

Basically SNE exists to simplify life for payroll departments so they don't have to do time cards and all that overhead. You make the assumption everyone works 40 hours a week, and adjust when necessary.

So would that mean it technically is not salaried? Or is my understanding of salary just screwed up? My understanding of salary was a set wage every pay period, regardless of hours worked. SNE just removed the upper limit, but not the lower limit. This was initially explained to us (my whole department was changed at the same time) in this way: We would be paid a new "hourly" rate, however it would only apply if we worked more than 40 hours. Anything less than 40 and we would be paid at a 40-hour level, anything more and we would get time and a half, just like regular OT. So we could get paid no less than 40 and as many hours as we worked. That ain't what we got, though.

I'm not really upset because there were some changes related to our vacation and other PTO that are great, plus I got a raise out of the deal. It wasn't too comforting to have HR shrug their shoulders at me, but it's all good.

 

[BlitzPuppet]

Lol.

With most salary jobs you have a "contract" for a certain amount of pay per year, regardless of how many days are in it. I just gets split up equally amongst those months.

I love me some months where I get paid 3 times though .

 

[PenguinPower]

Some states have laws stipulating that companies must offer the option to get paid biweekly instead of monthly. I worked for a large, Fortune 500 company and by Indiana law, they had to offer you the option of being paid biweekly as opposed to monthly. HR "encouraged" us to choose monthly since that's how the company preferred to pay people (in other words, it allowed them to bank payroll and collect interest longer), but most here in Indiana selected biweekly.

FWIW, I'm currently a consultant paid by the hour and I get paid twice per month.

In Indiana, you can't legally be paid monthly barring some exemption I am unaware of in law. It has to be semi-monthly, unless requested biweekly. They don't have to offer biweekly, it has to be requested.

 

[kranky]

So would that mean it technically is not salaried? Or is my understanding of salary just screwed up? My understanding of salary was a set wage every pay period, regardless of hours worked. SNE just removed the upper limit, but not the lower limit. This was initially explained to us (my whole department was changed at the same time) in this way: We would be paid a new "hourly" rate, however it would only apply if we worked more than 40 hours. Anything less than 40 and we would be paid at a 40-hour level, anything more and we would get time and a half, just like regular OT. So we could get paid no less than 40 and as many hours as we worked. That ain't what we got, though.

I'm not really upset because there were some changes related to our vacation and other PTO that are great, plus I got a raise out of the deal. It wasn't too comforting to have HR shrug their shoulders at me, but it's all good.

Well, it kind of IS salary. You get an annual salary. Every workday, you're expected to be there 8 hours. So they compute what each hour is worth based on your annual salary and 2080 work hours in a year (52 weeks, 5 days per week). But it is adjusted based on actual hours worked during the pay period.

 

[Engineer]

Yeah.. that's why there are also things like leap seconds.

More to the point, the reason why we skip leap year on the 100 year marks (as in 2000).