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According to chief market strategist at CMC Markets and host of The Artful Trader podcast Michael McCarthy, there are certain investor personality traits that seem to predict success in the share market.

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In this episode of the nestegg Podcast, Michael joins host Grace Ormsby to outline exactly what these characteristics are, the difference between high-risk and low-risk appetites, and how investors can apply different strategies depending on their own personality type.

Michael also explains how fear can be both helpful and a hindrance for confident decision-making, why failure is a crucial process for investors seeking growth, and where budding investors can begin educating themselves about the markets.

Thanks Matthew, for sharing your insights with the nestegg podcast team!

You can keep up to date with what CMC Markets are up to HERE

Have an investment story to share? Get in touch at [email protected] and you might get featured on the next episode.

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How does salaried pay work?

By Louise Chan · November 14 2019

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Earn

How does salaried pay work?

By Louise Chan
November 14 2019

Reading:

How does salaried pay work?

By Louise Chan · November 14 2019

Reading:

How you receive your pay at work depends on the status of your employment with a company. You may either be a salaried employee or an hourly employee.

If you are a salaried employee, you receive a fixed pay each month, which is calculated from the annual pay that you and your employer agreed upon.

Most, if not all, salaried employees receive benefits such as paid sick days and holidays but don’t receive overtime pay unless allowed by the employer.

If you are paid by the hour, you are only paid for the number of hours you work in a month, regardless of your workload.

Hourly employees are entitled to overtime pay for hours worked in excess of 38 hours per week, but don’t receive paid sick days and holidays. However, some companies also arrange a “time off in lieu (TOIL)” in exchange for overtime pay.

How is monthly salary calculated?

Salaried employees are paid a fixed salary and their gross monthly income is calculated by dividing their annual salary by 12.

For instance, if your salary is $50,000 annually, your gross monthly income is $50,000 divided by 12. This means that you can expect $4,166.67 monthly or $2,083.33 fortnightly.

However, the amounts above are still subject to taxes and, if applicable, medicare levy.

Hourly employees are paid a fixed rate for each hour they work plus overtime pay for hours worked in excess of 38 hours in a week. The overtime pay is calculated as 1.5 times the employee’s hourly rate for the first two or three hours, and double time thereafter.

This means that the monthly salary of hourly employees may change depending on the number of hours they work in a month.

To compute for the gross monthly income of hourly employees, you’ll need to use the formula below:

gross monthly income = hourly rate x hours worked per week x 52 ÷ 12

The wages received are also subject to taxes and medicare levy if the annual income exceeds the tax-free threshold amounting to $18,200.

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About the author

Louise Chan

Louise is a content producer for Momentum Media’s nestegg who likes keeping up-to-date with all the ways people can work towards financial stability in 2019. She also enjoys turning complex information into easy-to-digest, practical tips to help those who want to achieve financial independence.