Which would you prefer if the stress level and type of work is the same. If there's a cap on overtime, would that change your mind?
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This is on my mind as I am job searching right now. I prefer salary
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If you get benefits either way and can get any overtime at all, I'd prefer hourly. There is often overtime work in my industry.
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Salary with bonus.
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Oh gosh this is a toughie, it depends on how much the overtime cap is... and what is the likelihood of you hitting that cap...
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I'd prefer salary.
I'm hourly right now, and don't get paid maternity leave. The salary employees at my work do. Jerks.
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Salary. I don't do OT. But the one time I did, I got paid for it....they're required to pay us for extra time, otherwise we get our standard pay
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Hourly, but I mostly answered for DH since in my company there is no overtime allowed, period.
DH switched from hourly to salary and took a huge pay cut because of all the overtime he is missing out on. He asked for a raise this year to make up for it, so FX!
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Salary for sure. I like being able to nip out for appointments and not stress over logging hours or making up time.
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I hope never to have to go back to salary ever again! I got so abused with excessive hours being on salary. There are definitely tradeoffs, but I am so much happier on hourly!
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@AmandaB8: eek, that scares me! Do you get other benefits that salaried workers get but just not paid mat leave, or is everything different? You're making me think I should look into this at my company -- I've only been there a couple months so I'm not sure
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I have worked salaried with no overtime but a bonus, salaried with overtime but no bonus and hourly.
By far, I prefer hourly.
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it totally depends on the hours. i've always been hourly, but my last job, i should have definitely been salaried as even when i worked OT, it wasn't significant and most of the time i had to be there to just cover the office.
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@MrsSCB: Salary at my work is traditional - there's no overtime, and they get paid X amount, every 2 weeks, no matter what (which is why they have paid maternity). They also get paid company phones and cars (so if they need to answer a work call at 2 am, they do). They also get bonuses at the end of the year.
Hourly employees get overtime and paid per the hour they work, but no maternity. But at the same time, when I leave work, I'm gone. I don't get phone calls at all hours of the evening.
I get the same vacation days, sick days, and health insurance as salaried folks though.
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@Bookish: This is what scares me! Fx for your husband!
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I like the flexibility of hourly (usually salary jobs want you to work certain hours), but there is more security in salary. I know you said stress isn't a factor, but I would never work freelance again. I prefer being able to focus completely on my design work and having someone else handle the contract, the payment, ect. I hated trying to balance all those things by myself. The only thing I miss is working from home!
I'm in a weird position. I own my company with my husband so I can technically work whenever I want, although I usually do work 9-5. I take home a "salary" and dividends.
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Depending on the OT cap, I would most likely choose to be hourly. I've been salaried for several years, with possible bonuses, and would be earning far more money for the 50+ hours I work per week, in addition to being on call 24/7, if I was hourly. In my situation, I would still be able to flex my hours and take off for appointments and easily make up any time missed and/or be comfortably over 40 hours per week.
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I'm in a weird position. I'm salaried, but I have to log my standard 40 hours a week... and I also get paid OT.
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@lemondrop: @looch: I'm with you- hourly all of the way!
I recently gave up salary and paid sick days to go hourly. When I figured out my 'hourly' rate for my salaried position it was 1/2 of what I knew I could make hourly. I went hourly, doubled my income and can pay for my own sick day if I need it!
( I am also not expecting to need maternity leave anytime soon, either)
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@lizzywiz: I know, right? I should clarify, though, that when I say hourly all the way, I mean strictly based on $$$. I do not get traditional benefits or retirement savings plans, nor do I plan to need maternity leave.
I also like the fact that if I need to book less hours, I book less hours. I also am not supposed to go over 40 hours a week, so often, my Fridays are half days.
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@PurplePumps: Same. Expected to work 40 hours for my salaried wage, but anything over 40 is considered overtime and paid as such {with no cap}.
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