Your monthly payment is calculated using business working days (Monday-Friday or Sunday-Thursday, depending on your work schedule), which exclude weekends. This model is based on the actual number of working days in a pay period and directly affects the amount you receive.
| The following examples are for illustrative purposes, and the actual calculations may vary depending on your specific employment agreement and company policies. |
Example 1: Starting date proration
Let's consider Tanya, who started her engagement on May 24, 2023, at a rate of $1000. In this case, Tanya will be paid for 6 days worked out of 23 working days in May, for a total of $260.87.
Example 2: Ending date proration
Now, let's look at Anna, who ended her engagement on May 24, 2023, at a rate of $1000. Anna will be paid for 18 days worked, out of 23 working days in May, for a total of $782.61.
Example 3: Time off deduction
Consider Marvin, who started on February 1, 2023, at a rate of $1020. In May, Marvin decided to take 2 days off, resulting in 21 working days out of 23. Marvin's payment for May will be $931.30, reflecting the deduction for the time off. However, in June, when Marvin works the entire month, he will receive his full monthly rate of $1020 without any deduction.