13th month bonus is a bullsh*t

RuthBaby · 30th May 2003

When the British were in Singapore, they were being paid weekly & they

argued that Singaporeans were actually being cheated into believing that the

13th month pay is a bonus.

Singaporeans are being paid monthly which is equivalent to 4 weeks pay coz

there are 4 weeks in a month. As the British were paid weekly, it worked out

to the same.

You see, there are 7 days in a week.

4 weeks in a month.

12 months in a year.

Then 12 months should work out to 48 weeks only.

But 1 year worked out to 52 weeks. Hence the 13th month pay (bonus).

So, the British argued that there is in fact no bonus at all???

majere2sg · 30th May 2003

I used to get 13th and 14th month bonus.

ChinShiong · 30th May 2003

A month is not equal to 4 weeks (28 days) only (with february as an exception), hence if we calculate the number of months in a year based on the 4-weeks-a-month basis, there would be a 13th month, which only amounts to a grammatical technicality.

I believe most people's salaries are calculated on a monthly lump sum basis, hence the 13th month bonus is actually something that is additional to them. However, the story would be different if salary is calculated on a weekly basis.

Suppose a person gets paid $500 a month. He would have earned 12 * 500 = $6000 a year. A 13th month bonus would give him a total of $6500.

$500 a month equals to $125 per week. Based on a 52-week year, he would have earned $6500.

Hope I'm not confusing anyone here

Astin · 31st May 2003

When I meet the boss target, I usually get more than 13 months pay; however when I screw up, I don't even get 12 months pay. Life is cruel, learn to live with it.

chngpe01 · 31st May 2003

In times like this, I am happy that I still have a job that pays me 12 months salary for a 1 year's work

matthew · 31st May 2003

Quote:

Originally posted by chngpe01
In times like this, I am happy that I still have a job that pays me 12 months salary for a 1 year's work

Wouldn't most companies (at least now) say your 'yearly' salary is $x and then divide it by 12 for monthly payments or 52 for weekly ?
They have to do accounting based around financial years, to the yearly figure in salary/wages cost is what goes in the accounts in the end...

If they are going to continue with some old '13th month' tradition, they just divide the yearly figure by 13 instead :-)

(I'm acutally paied fortnighly).

sfhuang · 31st May 2003

Quote:

Originally posted by Astin
Life is cruel, learn to live with it.

well said.

nutz · 31st May 2003

Hey guys, ever wonder why there is a 13th month bonus?
Well, chew on this:

Companies give out 13th month bonus instead of higher monthly salary so that they could have more cash to support their working capital during the year. And assuming they do nothing with that so called extra month pay, they will still earn a good sum of interest by putting it in the bank.

This is something i heard.

Might or might not be true.
But on a financial point of view, it might be true.

Mystix · 31st May 2003

if i'm not wrong all employees are entitled to the 13th month pay as stated in the employment act unless otherwise stated in ur employment contract.

Adam Goi · 1st June 2003

For me, I'll be happy as long as there's a bonus!

munfai · 1st June 2003

never had the pleasure of receiving whatever 13th month bonus so far.

but not complaining as long as the job is stable

Azure · 1st June 2003

In the past (2-3 years ago or more), the 13th month is important to many of us. Pays for bonus goodies for family/loved ones. And I guess many people, esp the older workers grew to expect it as an entitlement. Yes, its supposedly a legal reqt. But given the slackened economic climate, I'd say that the majority ought to be glad to have a job.

In my job, bonus is pegged to performance. I do a good job and bring home lots of new business, maybe I'll get a bigger bonus come the new year. Otherwise, I'd deserve none, or even a kick out onto the street.

30th May 2003	#1
RuthBaby Senior Member Join Date: Jan 2002 Location: WAT? WAN TO STALK MI AH? LOLZ Posts: 1,980	*13th month bonus is a bullsht** When the British were in Singapore, they were being paid weekly & they argued that Singaporeans were actually being cheated into believing that the 13th month pay is a bonus. Singaporeans are being paid monthly which is equivalent to 4 weeks pay coz there are 4 weeks in a month. As the British were paid weekly, it worked out to the same. You see, there are 7 days in a week. 4 weeks in a month. 12 months in a year. Then 12 months should work out to 48 weeks only. But 1 year worked out to 52 weeks. Hence the 13th month pay (bonus). So, the British argued that there is in fact no bonus at all???

30th May 2003	#2
majere2sg Senior Member Join Date: Mar 2003 Location: Singapore (SengKang) Posts: 2,991	*Re: 13th month bonus is a bullsht** I used to get 13th and 14th month bonus. __________________ -Express yourself not in words- Majere2sg's Digital Photography

31st May 2003	#5
chngpe01 Moderator Join Date: Oct 2002 Posts: 8,542	In times like this, I am happy that I still have a job that pays me 12 months salary for a 1 year's work __________________ my work

30th May 2003	#3
ChinShiong Member Join Date: Dec 2002 Location: Russia Posts: 229	A month is not equal to 4 weeks (28 days) only (with february as an exception), hence if we calculate the number of months in a year based on the 4-weeks-a-month basis, there would be a 13th month, which only amounts to a grammatical technicality. I believe most people's salaries are calculated on a monthly lump sum basis, hence the 13th month bonus is actually something that is additional to them. However, the story would be different if salary is calculated on a weekly basis. Suppose a person gets paid $500 a month. He would have earned 12 * 500 = $6000 a year. A 13th month bonus would give him a total of $6500. $500 a month equals to $125 per week. Based on a 52-week year, he would have earned $6500. Hope I'm not confusing anyone here

31st May 2003	#4
Astin Senior Member Join Date: Mar 2002 Location: Astin Studio Posts: 4,729	When I meet the boss target, I usually get more than 13 months pay; however when I screw up, I don't even get 12 months pay. Life is cruel, learn to live with it.

31st May 2003	#8
nutz Member Join Date: Jan 2002 Posts: 153	Hey guys, ever wonder why there is a 13th month bonus? Well, chew on this: Companies give out 13th month bonus instead of higher monthly salary so that they could have more cash to support their working capital during the year. And assuming they do nothing with that so called extra month pay, they will still earn a good sum of interest by putting it in the bank. This is something i heard. Might or might not be true. But on a financial point of view, it might be true.

31st May 2003	#9
Mystix Member Join Date: Jan 2002 Location: Planet Earth Posts: 648	if i'm not wrong all employees are entitled to the 13th month pay as stated in the employment act unless otherwise stated in ur employment contract.

1st June 2003	#10
Adam Goi ClubSNAP Idol Join Date: Jan 2002 Location: Jalan Suka Posts: 5,382	For me, I'll be happy as long as there's a bonus!

1st June 2003	#11
munfai Member Join Date: Apr 2002 Posts: 1,326	never had the pleasure of receiving whatever 13th month bonus so far. but not complaining as long as the job is stable

1st June 2003	#12
Azure Deregistered Join Date: Mar 2003 Location: ClubSNAP community Posts: 2,783	In the past (2-3 years ago or more), the 13th month is important to many of us. Pays for bonus goodies for family/loved ones. And I guess many people, esp the older workers grew to expect it as an entitlement. Yes, its supposedly a legal reqt. But given the slackened economic climate, I'd say that the majority ought to be glad to have a job. In my job, bonus is pegged to performance. I do a good job and bring home lots of new business, maybe I'll get a bigger bonus come the new year. Otherwise, I'd deserve none, or even a kick out onto the street.