Why Being Late May Be Costing You More Money Than You Think

If you're a salaried employee, being a little late every day won't have an effect on how much you get paid (unless you're fired for it), but if you're paid by the hour, those late clock-ins can add up to a lot more than you might think.Photo by filtran

Jake, writing for his blog Debt Sucks, decided to take a look at how much his daily tardiness was costing him:

I went ahead and added everything up, and I've been late 203 minutes so far this year (with early clock-ins counting as credit). That amounts to $US36 in lost wages, which certainly doesn't sound like much, but when you stretch that 5.64 minutes per day out over a year, it adds up to $US262. If your boss told you he'd pay you $US250 to show up to work right on time every day for a year, wouldn't you jump on it?

It can be easy to let those minutes slip, thinking they make no difference, but if you're constantly clocking in late it might have a real effect on the amount of money you're making. Of course, five minutes each day may not really amount to anything at all, but since many companies round to the nearest 15 minutes you may be losing out on a good chunk of your paycheck each year.

(Plus being late is annoying and wastes other people's time, so being on time is a good thing all by itself.)

The Cost of Tardiness [Debt Sucks]


Comments

    Surely leaving work later re-credits you though!
    Who leaves exactly on time?

      I do, unless there's something that really CAN'T be finished tomorrow (though in my experience, most things can).

      My boss leaves on time, She is not there to see how long I am there after work, but she is there to see how long I am not at work in the morning.

    I used to work in a bar, I always picked up the loose change off the floor, even if it was only 5c. Some of the other workers scoffed at me for doing it, but I saved it all up and over about a year I had $500. A bit off topic but still goes to show that the small amounts really add up.

    I still have the money in a savings account accumulating interest lol

    As a permanent employee, when my boss didn't give me a pay rise, I started working less hours.

    I figure that even a permanent employee has an hourly rate, and that by working extra time you are giving yourself a pay cut and by working less you are giving yourself a pay rise.

    $100k salary / 2000 hours a year = $50/hr rate

    Work 30 minutes less per day (about 120hrs a year)

    $100k salary / 1880 hours a year = $53.19/hr rate

    6% pay rise

    I actually find the pressure to be "On Time" so needless, obnoxious and stressful that I'd happily pay $250 to avoid it.

    "more thank you might think"...

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