ChatterBank3 mins ago
Salary vs Wages
3 Answers
Can someone please tell me what the benefits of switching to salaried pay is please? i.e. should I now get sick pay (I currently don't) I am being offered a new package at work and I would like more information, or if anyone can refer me to a good website that can tell me more! Thanks
Answers
Best Answer
No best answer has yet been selected by Lesley1601. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.As long as you're an employee (as distinct from a contractor) then your statutory rights (i.e. those embodied in law) are exactly the same whether you're classified as 'waged' or 'salaried'. (e.g. you're entitled to Statutory Sick Pay from the 4th day of sickness onwards).
The distinctions between 'waged' and 'salaried' status are very blurred these days. (e.g. my contract says I'm on a salary but my pay statement is calculated on an hourly rate!). Every employer will attribute different meanings to these terms - legal definitions don't exist - so you'll have to find out exactly what your employer is proposing. (Look particularly at what they're proposing regarding overtime working. You might find, for example, that waged employees get time-and-a-half but salaried employees are expected to do a certain number of hours without any extra pay and then only get 'basic rate' after that. That's what used to apply in my job. Now we get 'basic rate' for all overtime worked).
Chris
The distinctions between 'waged' and 'salaried' status are very blurred these days. (e.g. my contract says I'm on a salary but my pay statement is calculated on an hourly rate!). Every employer will attribute different meanings to these terms - legal definitions don't exist - so you'll have to find out exactly what your employer is proposing. (Look particularly at what they're proposing regarding overtime working. You might find, for example, that waged employees get time-and-a-half but salaried employees are expected to do a certain number of hours without any extra pay and then only get 'basic rate' after that. That's what used to apply in my job. Now we get 'basic rate' for all overtime worked).
Chris