Comments on: Working Overtime

By: Business 2000 Foundation

Business 2000 Foundation — Sun, 17 Aug 2008 14:59:09 +0000

We, might take comp time. If allowed by law. A lot of workers forget on the higher income tax.

That in itself, could hinder higer earning power and wage increases for future raises and it’s reviews.
Use the vacation as an option to leave work early, and enjoy an afternoon with pay!

By: Young Fly and Fabulous

Young Fly and Fabulous — Sun, 17 Aug 2008 03:15:22 +0000

I definitely would rather have the cash than the time. In my work, I am barely able to take the time I am given through vacations, so I would rather have the cash. As for whether I spend it, or save it, it depends on what’s going on in my life. If I have bills I am trying to pay off, or some other financial goal I am trying to achieve, then I put the money towards that. If however, I am in OK standing, I might treat myself (or significant other) to something nice.

By: Young Fly and Fabulous » “The Big Idea” about Stress and Balance

Sun, 17 Aug 2008 02:37:25 +0000

[...] SIngle Ma addresses a similar issue on her blog, Fabulous Financials, where she asks the question is it better to receive payments in time or dollars when dealing with over time. I invite you to check it out. [...]

By: Ms.Sashay

Ms.Sashay — Sat, 16 Aug 2008 15:29:09 +0000

Show me the money! Depending on the amount of overtime, it may not be enought to really DO anything with. In that case, I’d plan for the overtime payout and then adjust my 401K (or another investment) and stash it away in that manner. Hey….the way I see it. I’ll pay myself so that I can stop working for someone else ASAP

By: ggjacks

ggjacks — Sat, 16 Aug 2008 14:34:43 +0000

COMP TIME!!! haveing time with my daughter and husband is worth more to me right now than the money. CRAZY as that is (given my financial situation) it is the truth.

By: Rufina

Rufina — Sat, 16 Aug 2008 13:31:21 +0000

You guys all spoiled rotten!!!!!
I do not even get a choice-overtime is expected and not compensated since I am an exempt salaried employee. I wish I had the problem of deciding what to choose-either/or.
Right now I am slaving just because I want to learn as much as possible at my new position( just started in April) and move on after couple of years. For some reason, it seems that there is more expected of younger workers in my field these days than of the older ones (we have some peeps in my department that have been there for decade or two). More productivity, more efficiency, more innovation and creativity and OT that is not compensated. Older dogs get to leave on time and take vacation even when it is a crucial time of the year/quarter. Sometimes it is not even clear what is the added value of their work. C’est la vie
But it sucks

By: hpy2bnpy

hpy2bnpy — Sat, 16 Aug 2008 12:26:41 +0000

BTW…I’d need most of the time off to decompress, relax, catch up on lapsed chores and simply chill out.

LOL tell me about it! [-SM]

By: hpy2bnpy

hpy2bnpy — Sat, 16 Aug 2008 12:13:14 +0000

As a youngin’ I would have taken the $$$, but now I say give me the comp time! And I’d take 5-10 minutes of that delicious comp time to review my contribution to the team during this specific project. I then save any & all documents outlining my efforts/results to a file that I keep for the purposes of my annual performance review. This makes it much easier to discuss with my manager specific examples of how I “exceeded” or “far exceeded” the stated requirements my job description.

Great point. You should document AND sell your accomplishments. In fact, I strongly encourage it. That’s the foundation of my career success.

However, in this case, when OT is MANDATORY for EVERYONE, it doesn’t exceed expectations OR the job description. I believe in rewarding fairly, but only for truly deserved exemplary performance.

You really have to put OT worked in context. Two people can work the same number of OT hours, but one person may complete twice as many projects or complete fewer projects that were more complex. I wouldn’t reward both. Assuming all things equal (i.e. experience, skill set, etc.), the other person was either slow or inefficient.

My point is, just because OT is worked, doesn’t mean you exceeded expectations. [-SM]

By: Single Ma

Single Ma — Sat, 16 Aug 2008 12:07:05 +0000

I’m really curious. For all of you who are saying you prefer OT to reach a financial goal, would you really SAVE or would you see the extra money as an opportunity to SPEND more and buy the things you’ve always wanted but couldn’t afford?

By: ElleX

ElleX — Sat, 16 Aug 2008 11:56:48 +0000

Comp time. My J.O.B. had mandatory OT (10 hours) all of last year and I was bumped up a tax bracket. The $$$ is great but tax time ain’t so fun for me - even with rental property. Besides what my co-workers and I figured out at our job is any OT over 10 hours a week is a wash as the IRS takes it. (Believe it or not, some people were doing up to 40 hours a week in OT - they were groaning when OT stopped because they had become accustomed to the money.)

Thank you for addressing the cut off point. I was going to run the math, but got lazy and quit. When working OT for pay, at some point, the extra effort is a waste because it ALL goes to Uncle Sam. [-SM]