Lol who would hear "I'm making 50k" and think it's anything other than per year unless they just stepped out of a private jet...
I feel like this might be confusing only if you are under the age of 14 and have no idea how money or the world works...
this post was submitted on 01 Sep 2023
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Asklemmy
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Depends on the currency.
Not in basically all of the English speaking world. USD, CAD, AUS, Pounds, Euros, NZD. 50k a month or week or whatever you for some reason think it might be other than a year would be an insane amount of money to make.
I bet you're the kind of person that hates it when you ask the time and people respond by rounding it to the nearest 10 minutes...
Did you just assume my Β₯der?
That was funnier than it should have been
The exchange rate is pretty good right now.
Not really. It's usually obvious from context. Unless you're trying to be an intentionally obtuse pedant?
I know people who make 50k per month and donβt have jets. I make 30k p/m but Iβll get there one day. Itβs crazy how when I was broke making $20/hour in a cafe that I thought everyone or most people are broke but now Iβm making modest money itβs crazy how many other entrepreneurs are in my circle now. Just wow.
Lol this piss take xD
Because that's the standard and that is the wage I negotiated and my bi-weekly checks are that number/26. I didn't negotiate a per-payperiod rate.
It's what my taxation is based on.
It's what all my credit applications ask for.
Also, what you make and what you take home are really quite variable based on circumstance between 2 people making the same base wage. Retirement contributions, health care premiums, taxes, and other deductions vary from person to person.
For salaried employees it's the standard metric by which wages are measured. You don't need to guess anything. That's the standard.
For hourly employees, that would be your hourly rate. Since hours can be variable and overtime is a thing your yearly rate would be variable too.
Seriously there's nothing to guess.
It's pretty standard in Europe too. It's what you see when filling your taxes, but very often people have bonuses, over-time, 13rd month and other things making monthly pay not relevant
Personally, I don't get paid every month, I get paid every two weeks, which means that some months I get paid twice and some I get paid thrice. Stating an annual value corrects for weird shit like this, and it's going to be consistent since it's probably how it is being tracked in the employer's accounting.
I mean, you just basically answered your own question. People get paid hourly, weekly, every 2 weeks, monthly, and some even per sale (ie. Realtors) so the only way to have a constant measurement is yearly.
Why not monthly? It seems the smallest unit to encompass them all, and is fairly standard.
Monthly makes sense also since most bills are monthly.
Until you have people who get a yearly bonus. Or 13 or 14 monthly salaries a year, which is quite common in Germany (basically a bonus, but the employee is entitled to it).
"I'm making 50k". Great, now I have to guess - dollars? Monthly? Yearly? If yearly then what's the monthly paycheck? Net? Gross?
I mean surely it's obvious in that example, no?
dollars
If that's the native currency wherever you are, then of course dollars
Monthly? Yearly?
$50k/month about be $600k/year. Pretty sure you'd be able to tell if the person you're talking to made half a million dollars a year vs just above the poverty line (in the US at least) just from context, but when in doubt - it's probably safe to assume that the person you're talking to isnt in the top 1% of earners
If yearly then what's the monthly paycheck?
Yearly divided by 12? If you're in a hurry and want a rough estimate just chop a number off the right and that'll get you to within ~10% of the correct value
Net? Gross?
I've literally never heard anyone give their salary as gross outside the context of financial planning, and even then they'll always specify "after taxes" or something similar.
Other comments go into plenty of detail about why they se various conventions are what they are (yearly vs monthly, net vs gross, etc(