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From the financial POV:
One of the reasons overtime is paid (by law, in many countries) at a higher rate than normal is to make it less attractive to the employer, the idea being that employees deserve reasonable amounts of time off. Time off in lieu may seem attractive, but you are actually being paid at a rate of 100% when you should be receiving a higher rate.
From the personal POV:
Having an extra day off gives you more time to spend with your family, but may not be that attractive if the rest of the family is still at school, work, etc.
One of the reasons overtime is paid (by law, in many countries) at a higher rate than normal is to make it less attractive to the employer
When you price up the cost of a workers time you take the entire costs of the company; rent, machinery depreciation, electricity, wages, for the year, and divide that up per worker per hour on a 40 hour week.
This works out to say £30. So when you price the goods up your company makes you use this value.
Since overtime is outside normal time, ie outside the 8 hours a day, 40 hour week, this £30 per hour you priced your goods at is NOT used to pay off electricty, rent, etc, it is PURE PROFIT.
This is why a employer can pay 1.5 time, or 2 x time. In fact an employer RAKES it in when hie workfore work over time.
Again, on normal time, 40 hours a week, all your fixed business costs are paid for by pricing each NORMAL hour to the customer at say £30.
Over time is OUTSIDE this. Hours worked outside the normal hours do NOT pay for fixed costs. The whole £30 is extra, so the company can afford to pay overtime, and actually makes a lot of extra money itself.
When you price goods you price the material used, the hourly labour cost of the company (NOT the workers hourly wage, but the amount the company needs to make per hour on a 40 hour week to cover ALL costs) call it £40 for a small firm, and a percent for profit.
So (materials + (£40 x time spent on the product) ) x 1.3 = final cost to customer.
Of that £40 actual workers wages might by £8. All the rest covers rent, machinery depreciation etc for the year.
If you can make the product on a saturday the entire £40 (excluding electricity) is free. It is not paying fixed costs, these were paid for by the 40 hours normal time worked. The 8 hours over time is in addition.
So on saturday of the £30, even taking out £12 for wages you have £28 left over for the boss.
It depends if the overtime hours are spent producing more product which can be sold (production overtime), or if they are spent trying to fix a problem or catch up on a late project which cannot be charged to the customer (R&D overtime). The former equals more profit, the latter is more cost.
depending upon factors in employment, Country, Boss, President of company(Elon Mushhy) you will have differing takes on this.
Previous employer(boss) was like you worked this weekend you be sure and take Friday afternoon off next. Or which ever afternoon/day is convenient for you and your work.
Heard that Elon Mushhy works likes 90 hours and expects employees to do the same without any extras other than helping him build the next world order. I actually went and looked a job description there a few months back, Working in Space Industry looks fun right. Says in job description must be willing to work all hours and put in the extra effort required. hmmmmm, Ummmm NO!
current employer doesn't even notice when we work weekends. I have worked a few hours each weekend for the past 3. Haven't heard much about it. Normal that I won't hear. Unnatural that I have to work more than one weekend every three months or so.
Salaried employees in the US are very unlikely to ever have overtime pay.
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It should be give and take. I work "overtime" or do out of hours support as needed. If I need time off or to work from home or to come in late or leave early that's all good. If I need a day off to do something it all evens out. Should be a fair exchange.
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Last job I was at was asked to do overtime,
salaried so there was no overtime pay (common in most salaried jobs)
anyway in those cases I would tell the boss I'd take time in lieu when I needed it.
usually if it was only a few hours (perhaps over a few nights), on a Friday if no deadlines looming I'd tell the boss [again not ask, I told] the boss I'd take off at lunch/afternoon tea to make up for the 'overtime the other day.' (Generally I'd take a little less hours than worked OT so they couldn't complain.)
If it was a whole-nighter/whole-weekend [and the job was finished] I'd just message the boss the next morning I wouldn't be in that day [to get my own stuff done that I had put off to finish this work] (or on the Monday after a weekend stint).
1. don't let it accumulate nor wait too long before taking otherwise they will argue back (often mentioning "long lunches / "late starts" you often take (even if not true hard to argue).
2. just take it - it is your right.
if you're valuable enough to them there should not be an argument, ignore it if there is, tell the boss you had stuff to do that you put off FOR HIM and now it has to be done, fair is fair.
If your boss still complains don't be afraid to go over his head;
- tell bigger boss it was not your problem that not enough resources or/and promises were committed to get the job done in normal time
- and that you had your own/personal things to get done [for/with your family] which you willingly put off temporarily to help the company meet it's deadline but these things still had to get done sooner, so fair is fair, you already went the extra mile to help them. (If they ask what cite family commitments - they can't ever tell you to ignore your family - winners include kids school stuff or helping old sick/weak [grand]parents.)
After that it will be your boss that needs to explain, why overtime was required, why insufficient resources were committed, why he/she is not giving time to employees to get personal matters done to satisfy his/her own goals ...
Don't care about others finding out, should be normal practice.
but main thing is, don't ask, just tell them and take it. It IS your right.
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For current employment, all of IT is "exempt", which means no pay for OT. Essentially, they count as salaried. Except they/we don't get the good parts of salaried.
Federal government: employees above a certain pay grade were considered exempt, but that meant that they couldn't get money. They could get "compensatory time" (Comp Time). In fact, they must get it. They also have arrangements for earning religious comp time, which was a mechanism for persons of comparatively rare religious beliefs to earn time off in order to use it for religious observance.
Otherwise, as stated in many a reply, OT for regular employees is 1.5x their normal wage, and working on holidays gives rather lucrative holiday pay, which is OT on a higher wage scale. Or not, depending upon the contract (if union).
Huh. I'm salaried, so there is no 'overtime'. In theory my boss could demand I put in 100 hour weeks and I would have no say in the matter, and still only get paid for 40.
In actuality my boss actively discourages putting in extra time. Due to staff reductions the last few years (we've gone from 17 people down to 6) and little or no reduction in workload, he manages our commitments and schedules to fit. He's also very earnest at helping us manage "work-life balance". Given that all of us have 10, 15, or more years experience in the industry, he doesn't want to lose any of us.