Each year, annual salaries are calculated based on the number of working days, as they vary from 260 to 262 per year. As a result, the calculation for annual salaries is amended accordingly.
This year, for the period June 1, 2012, to May 31, 2013, there are 261 working days. Therefore, the number of working days by which annual salaries are divided will be amended from the previous 262 working days to 261 working days or 26.1 pay periods.
It is important to note that the total amount of the annual salary remains unchanged; however the bi-weekly pay will be adjusted on the cheque to reflect this calculation.
This calculation is for salaried employees only and does not affect the remuneration of employees whose pay is based on an hourly rate.
If you have any questions, please contact Payroll Services at: payroll@concordia.ca.
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- Calculation for annual salaries for 2012-13
Calculation for annual salaries for 2012-13
Salaried employees will see a rate change on their paycheques
