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What's with telling YEARLY salaries? (lemmy.zip)

submitted 1 year ago by [email protected] to c/[email protected]

145 comments fedilink hide all child comments

I think this is mostly a US thing. Why use yearly salary? You're not paid once a year, are you? Most likely once a month. Referencing monthly salary makes much more sense.

"I'm making 50k". Great, now I have to guess - dollars? Monthly? Yearly? If yearly then what's the monthly paycheck? Net? Gross?

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[–] [email protected] 8 points 1 year ago (1 children)

"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(

[–] [email protected] 3 points 1 year ago (1 children)

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.

You mean net here, not gross. Otherwise, agree.

[–] [email protected] 1 points 1 year ago

Haha woops - mixed up the terms, thanks!