Is it better to collect in 12 or 14 payments? Who wins and who loses when part o

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At this time, many workers are receiving their extra pay . Christmas extra pay is usually paid between December th and th. Furthermore, he has as many fans as detractors. There are those who are completely in favor of them and also those who hate them.

Is it better to collect twelve or fourteen payments? Well, in practice it depends, but I would say that the advantage is better or worse depending on how chaotic or organized we are with our personal finances.


The origin of extra payments
Extra pay is an exception to the employment relationship in Spain. Normally workers in other parts of the world receive their salary at the end of the month or at the end of the week, or every two weeks, but in Spain many workers have fourteen payments, receiving an extra salary in July and the other in December. This is regulated by article of the workers' statute and by the collective agreements of each company, which usually regulate when payment must be made.

In Spain we have this singularity as a legacy of the dictatorship of Francisco Franco. In it was decided by Royal Decree that workers would receive an extra bonus equivalent to one week's salary. On December , , the salary  Israel Email List   was established in thirteen annual payments, the thirteenth being the equivalent of one week on the occasion of Christmas.



The next came in , when a similar payment was established to celebrate the labor holiday on July Its amount was equivalent to that of Christmas and with this the salary remained in fourteen payments, as we know it today. Normally it is paid in July to the worker, but the month depends on the company's sectoral labor agreement.

How do extra payments work today? All you have to do is look at a payroll. In practice, what happens is that the company gradually saves part of the salary and ends up paying it to the worker on the day agreed upon by the labor agreement. You also have to make an additional payroll for the extra pay, that is, two payrolls a year.

And what about workers with a twelve-month payroll? Well, that amount that the company would have saved is paid to them every month, without them having an additional payroll.

Advantages and disadvantages of the twelve payments
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The first advantage is that we receive a higher salary every month, since if we receive payment in fourteen payments, the salary is lower.

The salary seems more attractive to the worker when negotiating a raise or an offer to the worker.

It also simplifies the administrative management of the company , since two extra payrolls are not necessary. It also makes it easier for the worker when calculating the settlement.

If our employer is reliable, it will not be a problem, but if it is not, it is better that we have the money in our account. Officials still remember the extra pay they lost in

If we are good savers and investors, it allows us to have the money in the account sooner, which allows us to better manage our personal finances.