You get paid what you get paid — period.
A salaried employee is paid regularly and at the same rate each pay period. Your monthly salary is your monthly salary is your monthly salary, regardless of whether you work 40 hours or 30 hours or 10 hours — in which case, please let us know if your company is hiring! Does your company close for the holidays? You’ll get paid. Does your company have to take a day off because of the weather or an event or whatever? You’ll get paid. There's comfort in that consistency.
You’ll likely get better benefits
Full-time salaried employees are also more likely to receive benefits, including health care, retirement contributions and paid vacation time.
Downsides of salaried pay
More hours = same pay
If you’d prefer to work a set number of hours, salaried positions might be a challenge. That’s not to say that salaried employees have no boundaries whatsoever. But they often work after hours or extra hours during the day, regardless of how many hours they have worked that week already. There is no cap, and worse, there’s no additional compensation for more work.
Less control over your time
Which holidays you work, when you put in extra hours, how much time you have left to work on your hobbies or even a side hustle — all that’s out of your hands. If the business is running and your manager needs you, you’re working. The demands of a full-time salaried position can be a lot to juggle, especially if you have other responsibilities. You’re trading flexibility for the assurance of consistent pay.
Comparing salaries to hourly wages
If your salaried position was paid hourly, would you make more or less? And if your wages were paid out as a salary, what would you make?
For example, the average annual salary for a customer service representative is $59,000, while the average wage for the same position is $17 an hour.
The bottom line
Each form of compensation comes with its pros and cons, but you may find that one works better for you. It's important to consider your desired job field and the type of work you'll be doing before deciding whether salary or hourly pay will provide the fairest compensation for your efforts.