From Hourly to Salary the Pros and Cons - CareerAlley

From Hourly to Salary â€" the Pro’s and Con’s - CareerAlley We may receive compensation when you click on links to products from our partners. Ann EasthamOnline Career Tips Contributor, Career Services Many people, myself included, have a moment in our professional lives when we decide to go from hourly to salary. When I received an offer for my first salaried job after working hourly positions since high school, I felt like I had finally made it. I was no longer measured by the numbers of hours worked but by the quality of the work I was doing. However, I failed to realize the cons of working a salaried position and began to miss the pros of working hourly. Provided below are just some of the pros and cons of both that I experienced: Hourly Positions Pros Overtime. When youre an hourly employee you typically receive overtime for any hour worked past your regularly scheduled hours. Personally, anything worked past 40 hours was paid a rate of time and a half. In the event I needed extra money, I would simply sign up to work extra hours. We also received time and a half for weekends, nights (I worked in a hospital for a few years), and holidays. Some locations and positions even pay double time for holidays. Flexible Scheduling. In my hourly positions I had several schedules to choose from. One job I had for several years was 7am 2pm or 2pm 8:30pm. This allowed me to take classes around my schedule as well as run errands and make appointments without taking time off of work. Cons No Guarantees. Your hours are not guaranteed, which in turn, means your paycheck is not guaranteed. As an hourly employee I was at risk of being cut if the work load of the day did not require my presence. While I personally did not experience being cut often, for those requiring consistent hours and funds it can become stressful. Salaried Positions Pros Steady Paycheck. This goes along way with a feeling of financial security and the ability to budget. Benefits. Salaried jobs are more likely to come with benefits such as health and dental, and 401K options. Cons No Overtime. Just because youre supposed to work 40 hours a week doesnt mean you only work 40 hours a week. Many 9-5 workers find themselves working until the job is done, or taking work home with them. You may work as much time as it takes to complete the work, even if that is 60 hours a week. As such, this may result in you earning less per hour than you would have if you earned an hourly wage. Rigid Schedule. Often, the general expectation is that you work 8:30 5 pm, the exact hours most other businesses (doctors, mechanics, etc.) are open. While there may be some flexibility, it often means taking paid time off in order to make these appointments. While every job is varied, and your experience may not be the same as mine, it is imperative you consider your personal needs and weigh all the pros and cons when applying to positions. Related Articles:Ditch the Day Job: Turn Part Time Dabbling Into Full Time Income This article fromOnlinecareertips.comand was republished with permission. What's next? Ready to take action? Choose the right tools to help you build your career. Looking for related topics? Find out how to find the opportunities that help you grow your best career. Subscribe and make meaningful progress on your career. It’s about time you focused on your career. Get Educated Contact Us Advertise Copyright 2020 CareerAlley. All Rights Reserved. Privacy Policy + Disclosure home popular resources subscribe search