You may be working for free today
Here's how much extra pay salaried workers are due for their extra day of work on Leap Day this year.
This post comes from Danielle Kurtzleben at partner site U.S. News & World Report.
While hourly workers are given an extra day for earnings this year, salaried workers will get the same pay as a regular, 365-day year.
So how much money are salaried American workers missing out on when they put in that extra shift?
There are 261 weekdays in 2012 with the inclusion of leap day. (There are also holidays, but many companies consider those "paid" holidays, and some workers have to work those days, anyway.) So, for example, dividing a reporter's average yearly salary of $43,780 by 260 (leap day minus one) reveals that an extra day of that reporter's work is worth 168 extra dollars. That reporter's editor, meanwhile, is missing out on 228 extra dollars this year, given an average salary of $59,340.
In contrast, bigwigs like New York City Mayor Michael Bloomberg and Whole Foods CEO John Mackey are owed an extra 0.4 cents since they accept annual salaries of only $1. (Post continues below.)
Below is a list of workers and, if salaried on an annual basis, how much they are missing out on due to Leap Day:
- Secretaries and administrative assistants (excluding legal, medical and executive): $123
- Reporter: $168
- Clergy: $186
- High school teacher (except special and career/technical education): $215
- Editor: $228
- Registered nurse: $260
- Network and computer systems administrator: $278
- Airline pilot: $443
- Doctor (general practitioner): $669
- Supreme Court Justice Ruth Bader Ginsburg: $82.
- Speaker of the House John Boehner: $860
- Surgeon: $867
- President Barack Obama: $1,538
- Lloyd Blankfein, CEO of Goldman Sachs: $7,692 (reflects 2011 $2 million base salary only, not total $9 million disclosed 2011 pay package).
More on U.S. News & World Report and MSN Money:
Seeing as how most salaried employees make pretty good money, and get tons of paid holidays, sick leave, maternity leave, all paid... that's something most hourly employees do NOT have. IOW, I have no sympathy here. PLUS!!! it's a short month anyway, and they're getting paid the same as if it had 31 days. This article = failure
Giovan...I work for a manufacturing company here in the US. YESS..there is still manufacturing done here. Not assembly line robot style work. But real hand made products that we sell to the public.
Few people take pride or are willing to pay the price for American made products. Look at your TV, your DVD, and maybe even your car. That's why this country is such a mess now.
The people who are on salary do not work 40 hour work weeks like hourly employees.
I had a job that went from 45 to 50 hours when I was paid hourly to working 65 to 70 hours when I was on salary. The extra $50 a week did not make up for the extra hours.
Give me a break on the "extra" day for salaried workers having to work. By your logic then each worker should get 1 2 or 3 days more pay? The months do not only have 28 days. They all do. One every four years has 29. 4 have 30 days and the rest have 31.
What point are you trying to make?
The jobs that are listed all require certain trade skills and experience, and all of them are jobs that need the immense parallel and spatial processing of the human brain in case "the plan" goes awry and emergency training has to kick in.
Airplanes? Yeah, let's keep pilots for emergencies, good idea.
Hospitals? I think Nurses and Doctors are probably a good thing to keep there in case some medication doesn't work properly or there is an unknown diagnosis that needs to be treated.
Computer related controller? Well, you can automate it, but you can't guarantee it won't screw up so you have to keep someone around to fix the things that weren't properly programmed or automated.
Teachers? Yeah, being able to shift from topic to topic is something that requires humans, and judgment calls are made all the time regarding discipline, helping weak students, challenging advanced students, etc...
Clergy? They have to do their standard preaching, helping, hypocrisy. Robots are very bad at that kind of stuff.
Government officials? Someone has to make laws, judge them, execute them, enforce them, take money under the table from special interests, and have a coke party with hookers.
Copyright © 2014 Microsoft. All rights reserved.
ABOUT SMART SPENDING
LATEST BLOG POSTS
Some workers lose up to a quarter of their paychecks paying off old debt from credit cards, medical bills and student loans, as well as child support.
VIDEO ON MSN MONEY
BLOGS WE LIKE
MUST-SEE ON MSN
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'