I was just hit up by my work about switching from salary to hourly for the sake of “uniformity”. I wanted an extra set of eyes to confirm before I reluctantly agree and send this over to our HR/CEO and if proven wrong suffer through that embarrassment.
In the switch from salary to hourly, they are reducing my PTO by 1 week, again for the sake of all hourly employees following the same structure. I will of course now be eligible for overtime, so I *can* make more, but obviously at the expense of working more. They said they "bumped my hourly pay" to accommodate for the lost week of PTO, and I can hypothetically take a week of unpaid time and come out equal. Taking "unpaid" time has never been an issue, but my work is project based, so I know OT will be scrutinized.
Current Salary Structure | Hourly Propose Structure | ||
---|---|---|---|
Salary | $57,000 | Proposed Hourly Rate | $28 |
PTO | 88 hrs | PTO | 48 hrs |
Sick PTO | 40 hrs | Sick | 40 hrs |
Hours worked per year | 1952 | Hours worked per year | 1992 |
"working" Hourly Rate | $29.20 | Working Compensation | $55,776 |
PTO Compensation | $2,464 | ||
Total Yearly Comp | $58,240 | ||
Yearly Comp 1 wk unpaid vacation | $57,120 |
Am I correct to break it down this way? Looks like a pay reduction of $1224 for more hours worked. They want me to sign a document to acknowledge the structure change and reduction of PTO. I'm wondering if I should just accept. I am due for my yearly review in a few weeks and do anticipate a raise, but also won't be counting my chickens.
Submitted October 08, 2020 at 08:25PM by maritrench https://ift.tt/3jJIXQx