Curious about how payments are calculated at Andela? Check out this article with frequently asked questions to learn more!
How is my payment calculated?
Your monthly payment is calculated using business working days (Monday-Friday or Sunday-Thursday, depending on your work schedule), which typically exclude weekends and public holidays. This model is based on the actual number of working days in a pay period and directly affects the amount you receive.
What is the main difference between calendar days and business day calculations?
The main difference between calendar day and business day calculations lies in the treatment of weekends. When using business day calculations, weekends are not counted when determining adjustments to your monthly rate. This ensures that your payment reflects the actual number of working days in a given period.
From when is the business day calculation effective?
The business day calculation has been effective since May 1, 2023. Any payments made after this date will follow the business day calculation model.
|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 a total of 23 working days in May. Her payment for May will amount to $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 a total of 23 working days in May. Her payment for May will amount to $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 a total of 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.