Benefits of hourly vs salary
There are many people all across the globe those who feel that earning a salary gives them a consistent paycheck and also a job security. It has been noted that salaries are often equated with better paying jobs and benefits, which is nevertheless not always true. Although there are certain advantages of having a salaried job, but there are also disadvantages that comes along with salaried employments.
So it’s important that we must not overlook jobs that do pay hourly as sometimes getting paid by the hour does have certain advantages, especially if someone wants to work part-time.
Although when we are given a job, we don’t have a choice about whether or not we shall get paid by the hour or shall be paid a salary, still then, here are some of the few major benefits of getting pay by the hour, which has been illustrated below.
Success in the job is well defined
A big motivation for several hourly workers is that the success in their job is clearly defined. As most of the hourly jobs are task oriented, there is always a beginning and an end to each task that bring a sense of accomplishment in the workers mind. This limited scope of responsibility even allows the hourly employees to separate work and home life easily. So in hourly jobs, once the job has been completed, the hourly worker can go home and relax.
If some is working on job that is paid by the hour, it is most natural that they shouldn’t often have to stay late at their jobs unexpectedly. Moreover, if someone does have more than one jobs, the employ can know exactly how many hours he or she will work each week, which can be really helpful for people who has additional responsibilities at their home.
According to researches done on hourly paying jobs, it has been found that the overtime premium is 50% of the employee’s normal pay and so hourly workers often earn an additional 50% during their overtime hours, which is not available for salaried jobs. For many salaried employees, it has been seen that the expected extra work is often built into their salary, and so salaried employees often have to put extra work, without getting paid for their overtime jobs.
Work on holidays
There are many hourly positions that pay double for working during the holidays. This is also another great bonus for hourly employment. There are several people all across U.S. and around the globe who prefers to take hourly jobs as their second job, in which case working on holidays can really be beneficial for such people.
Good for career-building internship
If someone is trying to balance a career-building internship with a job that offers hourly pay in an unrelated field to pay the bills, hourly jobs are ideal for such candidates, where one can keep holding on to an hourly job for income as one keeps builds his or her resume for a high-paying career job in the longer run.
Counter recession in the market
In a new study published by the National Employment Law Project, it has been noted that while majority of the jobs lost during the recession were from middle-income range, low paying hourly jobs have replaced those vacancies, which is indeed a good news for the stability of the national economy.
So if you are looking for an hourly job, be sure to closely review the overtime pay rules of your company before accepting an hourly position as your employment.Benefits of hourly vs salary