![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
Magic Money?
Nov. 21st, 2011 20:32My budget got exploded last week - due to varying causes (oddly enough, busting my ankle is not a significant contributor - that has directly cost me less then $50 so far). So I have been budgeting, and trying to make the math work so I can enjoy the holidays. Side note: I might be regretting giving up a full time job just a little bit right now. :)
As part of this I managed to finally figure out how to see my pay stubs for TAing. Besides all the money they are deducting now that I won't see again until I get it back after I submit my taxes, there was one interesting item. You would think that as a student employee vacation wouldn't be in residence on my pay check. There is indeed no way I qualify to accrue any sort of leave, let along vacation time. However, I can still accrue something called vacation PAY. Yes, that is right, for some unknown reason the government requires employers to pay their employees 4% of their gross wages in addition to their gross wages in the form of Vacation Pay. Those that actually qualify for vacation usually get it in a lump sum just before they take their vacation - I get it in a small amount every week. Yes, that is right, I get a 4% bonus just for existing. And so does everyone else - so you have to assume that employers take that into account when setting salaries. So it isn't a bonus after all? Still can't wrap my mind around the fact that the employer pays you an amount that specifically goes towards your vacation (away from your job)!!!
As part of this I managed to finally figure out how to see my pay stubs for TAing. Besides all the money they are deducting now that I won't see again until I get it back after I submit my taxes, there was one interesting item. You would think that as a student employee vacation wouldn't be in residence on my pay check. There is indeed no way I qualify to accrue any sort of leave, let along vacation time. However, I can still accrue something called vacation PAY. Yes, that is right, for some unknown reason the government requires employers to pay their employees 4% of their gross wages in addition to their gross wages in the form of Vacation Pay. Those that actually qualify for vacation usually get it in a lump sum just before they take their vacation - I get it in a small amount every week. Yes, that is right, I get a 4% bonus just for existing. And so does everyone else - so you have to assume that employers take that into account when setting salaries. So it isn't a bonus after all? Still can't wrap my mind around the fact that the employer pays you an amount that specifically goes towards your vacation (away from your job)!!!
