Question of the Day: What is the most common pay frequency for workers at private companies?
Answer: Bi-weekly (every other week)
- How do you think the frequency of your pay will impact your budget plans?
- Which pay frequency would be most beneficial to you as an employee? Why?
- Some companies (e.g., Lyft and Uber) offer same-day pay for employees. Do you think that's a good idea? Why or why not?
Best Day for Payday (9 minute Indicator podcast):
Most Americans get paid biweekly, according to data from the U.S. Bureau of Labor Statistics. One of our listeners wanted to know why. Is it better than getting paid weekly, monthly or any other day? So we called history professor Nelson Lichtenstein from the University of California at Santa Barbara to find out the story behind the pay cycle.
Want to help your students decipher their first paycheck? NGPF's Fine Print: Paystub will do the trick.
About the Author
Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.
To get access to NGPF answer keys, assessments, and teacher-only resources: create a FREE Teacher Account