Factory jobs that pay weekly near me

Most hourly warehouse workers in the US get paid weekly or biweekly.

Additionally, some companies have weekly pay for some of their warehousing facilities and biweekly pay for others.

Below are lists of warehouse employers that pay weekly and biweekly.

Warehouse Jobs That Pay Biweekly

Differences – and therefore pros and cons – of weekly and biweekly pay are mostly psychological to the employee and therefore subjective.

Pros and Cons of Weekly Pay

Pros

• Weekly pay makes budgeting and saving easier.
• Generally, money is worth more today than in the future due to the time value of money. Therefore, getting paid weekly makes your paycheck of higher value than getting paid biweekly.
• If you are strapped for cash, you’d rather get paid weekly than biweekly.
• For some, it is more satisfying seeing results of their labor sooner rather than later.
• There’s a few months in a year where you get five paychecks instead of four.

Cons

• It might be more difficult to comfortably pay for larger expenses such as rent or car payments.

Pros and Cons of Biweekly Pay

Pros

• With a biweekly check, you can pay for larger expenses such as mortgage, rent or car payments more comfortably.
• There’s two months in a year where you’ll get three paychecks instead of two.

Cons

• Can cause financial distress when you need the money ASAP, e.g. for emergency reasons.
• It can be tempting to overspend once you get your paycheck and have to wait two weeks for the next pay.

Why do Some Companies Prefer Paying Biweekly?

There are a few reasons why some businesses may want to pay their employees on a weekly basis and most have to do with cost:

• It is more expensive to do payroll on a weekly basis than twice a month. By paying biweekly, companies may save thousands of dollars in payroll costs every year.
• There’s an opportunity cost in paying wages weekly where the money could have been used to generate more money, e.g., letting it sit in an interest bearing call account.
• Some companies borrow money for payroll purpose. The less frequent they borrowing from the bank, the less interest they have to pay.