In most companies, the work week lasts from Sunday to Saturday. With payroll only working during weekdays, the need to manage the data coming from employees (hours worked, absentees, …) and the need to run the calculations, they needed a few days to get everything in order and checked, so employees would receive their pay on Thursday.
Even now, many companies, especially SMBs, need to collect the data and send it to their accountant before they receive the information on how much employees should be paid. So it gives them a few days to do so.
Having a payday every week or every 2 weeks is simpler from a company perspective, as it makes the number of days even for every pay period, so less calculations to run, while allowing the employees to be paid more often.
Ho, thank you. I only know the pay schedule of one friend in BC, who gets paid every Thursday, so I assumed it was the same for everyone. I’m gonna remove that from my OP :) Don’t hesitate if you have any other feedback !
I’m curious why Thursday is payday for many people? I’ve generally been paid on the 15th and last of the month.
In most companies, the work week lasts from Sunday to Saturday. With payroll only working during weekdays, the need to manage the data coming from employees (hours worked, absentees, …) and the need to run the calculations, they needed a few days to get everything in order and checked, so employees would receive their pay on Thursday.
Even now, many companies, especially SMBs, need to collect the data and send it to their accountant before they receive the information on how much employees should be paid. So it gives them a few days to do so.
Having a payday every week or every 2 weeks is simpler from a company perspective, as it makes the number of days even for every pay period, so less calculations to run, while allowing the employees to be paid more often.
Maybe this is a provincial thing?
I’ve never heard of pay day being on Thurs here in BC. It’s generally the 1st and 15th, or every second Friday.
Ho, thank you. I only know the pay schedule of one friend in BC, who gets paid every Thursday, so I assumed it was the same for everyone. I’m gonna remove that from my OP :) Don’t hesitate if you have any other feedback !