BMW i
Forum for the BMW i3, i4 and i8
BMW i3 BMW i8
BMW Garage BMW Meets Register Search Today's Posts Mark Forums Read

  BMW i Forums > BIMMERPOST Universal Forums > Off-Topic Discussions Board

Post Reply
 
Thread Tools Search this Thread
      01-11-2019, 11:55 AM   #23
MrRoboto
Brigadier General
Canada
1732
Rep
4,831
Posts

Drives: VO 1M
Join Date: Aug 2007
Location: Canada

iTrader: (0)

Quote:
Originally Posted by aozer View Post
i dont get why it would be so hard to budget getting paid once a month. most bills are once a month. pay all your bills at the start of the pay period, set aside however much you are plan to put into savings, set aside your monthly spending money. it isnt rocket science. if you cant budget your spending for each month you probably arent living within your means anyways.
It's got nothing to do with your monthly expenses. The company is putting it's AR risk on the employees which is wrong and evidence of poorly managed company and/or one that has cashflow issues.
Appreciate 1
zx10guy2025.50

      01-11-2019, 01:05 PM   #24
Ickdeep
Brigadier General
Ickdeep's Avatar
United_States
3243
Rep
3,212
Posts

Drives: '13 F10 M5 | '15 F15 X5
Join Date: Jul 2015
Location: Seattle, WA

iTrader: (3)

Garage List
2013 BMW M5  [5.00]
2015 BMW X5  [5.00]
2013 BMW 535i [SOLD]  [5.00]
When I wife first started teaching, she got the same pay schedule. Once a month towards the end of the month. The first month was a little hard but it worked it self after a few months (used credit cards but paid them off afterwards).

My recommendation is budget budget budget. Pay all the house bills as soon as you get paid so that you know your "living money". From that take out gas, food, etc.. And don't forget to budget for savings. We use an excel spreadsheet to track all of the bills.
Appreciate 0
      01-11-2019, 01:06 PM   #25
Alfisti
Major
948
Rep
1,149
Posts

Drives: 2013 X3
Join Date: Nov 2014
Location: Toronto, Canada

iTrader: (0)

Yeah it's not about the monthly payment it's the additional time in arrears that gets me. it's madness.

Read the OP again.
Appreciate 0
      01-11-2019, 02:32 PM   #26
Maestro
Major
553
Rep
1,192
Posts

Drives: 2007 335i Sedan
Join Date: Nov 2006
Location: Philadelphia

iTrader: (0)

Ops, the company you work for is having a cash flow issue, they are billing your hours to third party and they have 30 days to pay their bill and your company is not paying you until they get paid.

My wife works in the HR recruiting and contracting space most good company pay the contactor every two week and usually the first pay is delayed by one pay period. When a company who provides contracted service they usually negotiate with their clients to pay immediate upon a contractor summitting their hours, even if the companies pays 30 days later which some do, the Contracting company floats the cost of pay for a period of time.

Last edited by Maestro; 01-14-2019 at 03:12 PM..
Appreciate 0
      01-11-2019, 04:11 PM   #27
MJBO
Lieutenant
MJBO's Avatar
Australia
309
Rep
452
Posts

Drives: 2011 M3 E90 DCT
Join Date: May 2012
Location: Australia

iTrader: (0)

Iíve had several full time jobs that were paid monthly, and now that Iím running my own business my payments are all over the place.

Many are end of month plus 30 days, one is 60 days from invoice!

Being on end of month plus 30 while being an employee seems weird though.
Appreciate 0
      01-11-2019, 04:26 PM   #28
aozer
Lieutenant
aozer's Avatar
784
Rep
526
Posts

Drives: M235i
Join Date: Sep 2016
Location: Texas

iTrader: (0)

Quote:
Originally Posted by MrRoboto View Post
It's got nothing to do with your monthly expenses. The company is putting it's AR risk on the employees which is wrong and evidence of poorly managed company and/or one that has cashflow issues.
obviously. im referring to posts like this:

Quote:
Originally Posted by F30lolz View Post
Did you know of this before you accepted the position? The University of Miami pays its employees once a month, though not sure if it’s the exact same structure as your current employer. My aunt only lasted a year working for them as she had a hard time budgeting.
Appreciate 0
      01-11-2019, 05:01 PM   #29
Angry Ketchup
Private
Angry Ketchup's Avatar
England
34
Rep
63
Posts

Drives: 650i (F12)
Join Date: May 2017
Location: London, UK

iTrader: (0)

Lightbulb

OP, I guess it's pretty simple:

1) Demand/negotiate fortnightly pay with your new employer.

2) Work somewhere else where the conditions of employment better meet your expectations/lifestyle.



Unless you're somehow indentured to serve that employer, go out and find what makes you happy. That's how I'd look at it. ymmv
Appreciate 0
      01-11-2019, 08:46 PM   #30
DETRoadster
Space Force - 4 Star General
DETRoadster's Avatar
5552
Rep
2,533
Posts

Drives: M2 MG 6MT / Moto Guzzi V7
Join Date: Jul 2016
Location: Seattle

iTrader: (0)

Quote:
Originally Posted by MrRoboto View Post
Quote:
Originally Posted by aozer View Post
i dont get why it would be so hard to budget getting paid once a month. most bills are once a month. pay all your bills at the start of the pay period, set aside however much you are plan to put into savings, set aside your monthly spending money. it isnt rocket science. if you cant budget your spending for each month you probably arent living within your means anyways.
It's got nothing to do with your monthly expenses. The company is putting it's AR risk on the employees which is wrong and evidence of poorly managed company and/or one that has cashflow issues.
Not always. The company I work for is small (75 people) and we have 1 person to do Hr/payroll/benefits. She's swamped. Doing payroll Is such a timesuck we do monthly instead of bi weekly.
Appreciate 0
      01-12-2019, 08:57 PM   #31
Alfisti
Major
948
Rep
1,149
Posts

Drives: 2013 X3
Join Date: Nov 2014
Location: Toronto, Canada

iTrader: (0)

Half of you are not reading the OP. It's not 30 days, it's damn near 60.
Appreciate 0
      01-13-2019, 01:20 AM   #32
eluded
2JZ-GTE
eluded's Avatar
Bulgaria
1656
Rep
2,695
Posts

Drives: 340 6MT
Join Date: Nov 2015
Location: Sofia

iTrader: (0)

What state is this legal in ?
Appreciate 0
      01-13-2019, 07:31 AM   #33
gatorfast
Major General
gatorfast's Avatar
United_States
2778
Rep
5,868
Posts

Drives: F80 M3
Join Date: Jan 2008
Location: SoFla

iTrader: (4)

Need to know if you are a w-2 employee or contract work. If the former then net 30 is not common and perhaps not legal. If you are a consultant then net 30 is extremely common and terms can and should always be negotiated between you and your client.
Appreciate 0
      01-13-2019, 08:04 AM   #34
RickFLM4
Brigadier General
RickFLM4's Avatar
United_States
3839
Rep
3,683
Posts

Drives: M4
Join Date: Jul 2015
Location: PB County, FL

iTrader: (0)

Quote:
Originally Posted by eluded View Post
What state is this legal in ?
Close to half of them:

https://www.dol.gov/whd/state/payday.htm

There are a few states that donít appear in that list.
__________________
Current: 2018 SO/SS F83 ZCP
Gone: 2015 SO/SO F82
Appreciate 1
eluded1655.50

      01-13-2019, 08:18 AM   #35
Violator
Living the dream
Violator's Avatar
United_States
3449
Rep
1,642
Posts

Drives: X5 w/MPPK, MPE & RC GTS Black
Join Date: Dec 2014
Location: The Lone Star State

iTrader: (1)

My wife and I have been paid once a month/end of month since 2005. It’s very easy to live with, 12 paychecks a year.

Just budget well and live within your means.
Appreciate 0
      01-13-2019, 09:30 AM   #36
The Libertine
Captain
The Libertine's Avatar
United_States
574
Rep
703
Posts

Drives: 2018 BMW X5
Join Date: Jul 2018
Location: Boston, MA

iTrader: (0)

So, if you get paid based on prior monthís work (revenue), a concern of mine would be if the prior month was a slow one. What if Company goals were not met? Or if there is a downtown in the economy, how would that impact revenue stream? Is the Company properly funded to ensure employees salaries are paid?
Appreciate 0
      01-14-2019, 07:25 AM   #37
MrRoboto
Brigadier General
Canada
1732
Rep
4,831
Posts

Drives: VO 1M
Join Date: Aug 2007
Location: Canada

iTrader: (0)

Quote:
Originally Posted by DETRoadster View Post
Not always. The company I work for is small (75 people) and we have 1 person to do Hr/payroll/benefits. She's swamped. Doing payroll Is such a timesuck we do monthly instead of bi weekly.
That's a great example. Rather then your company hiring someone to help with the payroll or contracting an outside payroll company has made the job easier for payroll at the expense of employees.

Your company is taking a huge risk by having one person to do payrol. If she quits or gets sick you guys are in the shit. Outsourcing payroll/benefits is quite inexpensive. 75 people is a decent size 'small' business.
Appreciate 0
      01-14-2019, 08:26 AM   #38
RickFLM4
Brigadier General
RickFLM4's Avatar
United_States
3839
Rep
3,683
Posts

Drives: M4
Join Date: Jul 2015
Location: PB County, FL

iTrader: (0)

Quote:
Originally Posted by MrRoboto View Post
That's a great example. Rather then your company hiring someone to help with the payroll or contracting an outside payroll company has made the job easier for payroll at the expense of employees.

Your company is taking a huge risk by having one person to do payrol. If she quits or gets sick you guys are in the shit. Outsourcing payroll/benefits is quite inexpensive. 75 people is a decent size 'small' business.
Years ago, I was controller and then CFO for a company that did something similar to DETRoadster's company. (In our case we went from weekly payroll to 2x / month for non-commission payroll.) We also had one person who spent a full day collecting and prepping payroll for the outsourced provider and then reviewing what we got back before the cash was transmitted each payroll period. That doesn't mean she was the only person who could do it. There were several other people cross-trained and able to step in if she was sick, on vacation or if she left the company. However, having her spend 24 days / year on it rather than 52 means we picked up 28 work days a year for her to do other productive things, in her case related to employee benefits. 5-6 weeks of man-hours was not insignificant to us and everyone eventually adapted after initially complaining loudly. I also reduced the frequency of vendor payments and stretched terms, to which they also adapted, with similar efficiency gains. Efficiency is important to controlling costs and I do not agree that it makes sense to just keep hiring people to do administrative tasks that can be done more efficiently. In our case, it had nothing to do with cash flow and everything to do with efficiency. Presumably outsourced providers have more efficient solutions today than they did back then so the efficiency savings would not be as great. But nevertheless, it is in everyone's interest to keep administrative expense growth in check.
__________________
Current: 2018 SO/SS F83 ZCP
Gone: 2015 SO/SO F82
Appreciate 1
      01-14-2019, 08:42 AM   #39
DETRoadster
Space Force - 4 Star General
DETRoadster's Avatar
5552
Rep
2,533
Posts

Drives: M2 MG 6MT / Moto Guzzi V7
Join Date: Jul 2016
Location: Seattle

iTrader: (0)

Quote:
Originally Posted by MrRoboto View Post
That's a great example. Rather then your company hiring someone to help with the payroll or contracting an outside payroll company has made the job easier for payroll at the expense of employees.

Your company is taking a huge risk by having one person to do payrol. If she quits or gets sick you guys are in the shit. Outsourcing payroll/benefits is quite inexpensive. 75 people is a decent size 'small' business.
As RickFLM4 said about his experience, my company also has multiple people cross-trained to do payroll.

My understanding is the root of our problem is our ERP system does not play with ADP. So it all has to be manually done.
Appreciate 0
Post Reply

Bookmarks

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off



All times are GMT -5. The time now is 12:37 PM.




bmw
Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2019, vBulletin Solutions Inc.
1Addicts.com, BIMMERPOST.com, E90Post.com, F30Post.com, M3Post.com, ZPost.com, 5Post.com, 6Post.com, 7Post.com, XBimmers.com logo and trademark are properties of BIMMERPOST