Before we start, there’s one thing we need to get straight. What’s the difference between wages and a salary?
Let’s look at the pros and cons of both
So what’s the takeaway here?
As a salaried employee, you’ll probably have access to better employee incentives, like paid holidays and sick leave, plus the reassurance of regular income regardless of how many hours you work.
But there may be a lot more work and stress involved, and you won’t get any extra pay for working more than your standard hours.
Before you decide if a salaried job is right for you, you’ll need to find out what sort of benefits are on offer.
If you decide that an hourly wage is what you’d prefer, you’ll get the reap the benefits if you work extra hours (if you employer allows it). And if overtime qualifies for a higher rate, getting time and a half or double time pay can really add up.
Depending on your employer, you may also have the flexibility to swap shifts, and work more or fewer hours as you need to.
But flexibility comes at a price – lack of security.