I think this is mostly a US thing. Why use yearly salary? You’re not paid once a year, are you? Most likely once a month. Referencing monthly salary makes much more sense.
“I’m making 50k”. Great, now I have to guess - dollars? Monthly? Yearly? If yearly then what’s the monthly paycheck? Net? Gross?
Lol who would hear “I’m making 50k” and think it’s anything other than per year unless they just stepped out of a private jet…
I feel like this might be confusing only if you are under the age of 14 and have no idea how money or the world works…
I know people who make 50k per month and don’t have jets. I make 30k p/m but I’ll get there one day. It’s crazy how when I was broke making $20/hour in a cafe that I thought everyone or most people are broke but now I’m making modest money it’s crazy how many other entrepreneurs are in my circle now. Just wow.
Depends on the currency.
I mean, you just basically answered your own question. People get paid hourly, weekly, every 2 weeks, monthly, and some even per sale (ie. Realtors) so the only way to have a constant measurement is yearly.
Why not monthly? It seems the smallest unit to encompass them all, and is fairly standard.
Monthly makes sense also since most bills are monthly.
Until you have people who get a yearly bonus. Or 13 or 14 monthly salaries a year, which is quite common in Germany (basically a bonus, but the employee is entitled to it).
“I’m making 50k”. Great, now I have to guess - dollars? Monthly? Yearly? If yearly then what’s the monthly paycheck? Net? Gross?
I mean surely it’s obvious in that example, no?
dollars
If that’s the native currency wherever you are, then of course dollars
Monthly? Yearly?
$50k/month about be $600k/year. Pretty sure you’d be able to tell if the person you’re talking to made half a million dollars a year vs just above the poverty line (in the US at least) just from context, but when in doubt - it’s probably safe to assume that the person you’re talking to isnt in the top 1% of earners
If yearly then what’s the monthly paycheck?
Yearly divided by 12? If you’re in a hurry and want a rough estimate just chop a number off the right and that’ll get you to within ~10% of the correct value
Net? Gross?
I’ve literally never heard anyone give their salary as gross outside the context of financial planning, and even then they’ll always specify “after taxes” or something similar.
Other comments go into plenty of detail about why they se various conventions are what they are (yearly vs monthly, net vs gross, etc(
