[cpamang]

I got an offer that says this for salary – “your rate of pay will be $70,000 payable semi-monthly, $2000 annualized”… my question —— what does it mean? I originally thought it was a 2000 yearly pay increase but now I’m not sure if it means I’ll be paid 68,000 thought the year, and 2,000 at the end???? Can someone with help me out here?

Thanks

[Pork Flavored Bacon]

Have you called HR and asked for clarification? If not, that’s the first thing you should do.

FAR - 75 | REG - 87 | AUD - 82 | LAW - 81

[cpamang]

@pork I haven’t because the office is unfortunately closed. Can’t wait until Monday.

[Mike J]

By all means definitely ask first thing Monday.

However, according to this website, it means that you'll make about $1350 per week. https://www.miniwebtool.com/salary-conversion-calculator/?wage=70000&term=1&hours=37.5

Also, I'd be a little wary of dealing with a company that operates in such vague terms.

[Anonymous]

I agree with others you should check with your HR department on Monday. But to me it sounds like would be $70K paid semi-monthly (just under $3000 per check) with a $2K bonus annually.

[Recked]

Perhaps that is your anticipated bonus?
I feel like as an accountant maybe this should be something you (we) should know, so maybe don't make a big deal about it until you understand what it means, lest you might look like a fool?
Just throwing that out there. Hopefully someone that works with a larger firm will be familiar with this terminology.

[HDCPA]

Was there a $$ sign in front of the 2000 or did you add that. 2000 hours is the “standard” working hours in a year. So you would be at $35 an hour. Likely meaning there is some overtime availability. I’ll be the first to admit I’ve only been in corporate / industry so I don’t know much about employment at firms, but our auditors get paid OT, so to me it seems like that is the base for this calculation. Total guess on my part. I wouldn’t worry too much. This doesn’t sound shady, it’s probably something simple.

Also, congrats on the job offer!

[Anonymous]

Based on the collective head scratching on this thread i would think those terms are not industry standard. So yes, just ask for clarification. But definitely doesn't sound like a raise.

[Author]

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