Husbands loosing pay!

[mjkacmom]

OMG! What color is the sky in your world? $10,000 LESS? I haven't worked for a company that gave out bonuses for over 20 years and then they were just $300. to $500. per year.

We live in NJ - $10,000 doesn't even pay a year of property taxes, unfortunately.

 

[Lisa_M]

It's hard to say if your DH is being taken advantage or not. My DH's FT job was eliminated and replaced with a PT position. So he is still working, but only 2.5 days max per week. His field is related to your DH's field so they are dependent upon the work coming in. If there isn't the work, there isn't the work.

Conversely, some employers are taking advantage of the doom and gloom economy and using as a way to cut payroll costs and increase their bottom line.

 

[shortbun]

Meh, my BIL gets $25 - 35K bonuses almost every year. My wife "can" get that too if she meets her goals. Both work in the pharmaceutical industry. It happens far more than you know.

Obviously the drug companies can afford to kick in more towards health coverage for everyone. The rest of the world earns less than your wife's bonuses every year. What's with the "meh?" I think it's happening far less than YOU know. kwim?

 

[mjkacmom]

Obviously the drug companies can afford to kick in more towards health coverage for everyone. The rest of the world earns less than your wife's bonuses every year. What's with the "meh?" I think it's happening far less than YOU know. kwim?

I don't know where you live, but a family can't live here under $100,000 a year. I remember being single and living in a 2 room apartment, 20 years ago, making $25,000 a year, and I was POOR!

 

[shortbun]

We live in NJ - $10,000 doesn't even pay a year of property taxes, unfortunately.

Yeah, most of us aren't getting bonuses at all let alone ones that would pay our property taxes. Three members of my family have been out of work since fall and my neighbors on either side have taken two weeks without pay as well as no raises and huge layoffs in their departments with the State of Ohio. 30% of the Parks and Recreation centers here in Columbus have been closed along with the employees-bigger cuts will come if we don't pass our income tax increase brought by special election. The high schools and middle schools lost their security police officers which is a big deal in an urban school system. No one I know gets a bonus, no one. We are all grateful for our jobs and are working hard to keep services offered to those in need by volunteering and donating. I could go on and on about who's laid off and taken a cut but I'm sure you're bored by now.

 

[shortbun]

I don't know where you live, but a family can't live here under $100,000 a year. I remember being single and living in a 2 room apartment, 20 years ago, making $25,000 a year, and I was POOR!

We have people supporting familes on less than 25K a year here. You were not poor, you don't know what 'poor' is. Are you aware of what the national guidelines for 'poverty level' income are? http://aspe.hhs.gov/poverty/09poverty.shtml

Anyway OP-consider yourself lucky that your husband works for a family business and only took a cut and not a lay off. Sorry, I know it hurts!!!

 

[Mom2Nick]

Obviously the drug companies can afford to kick in more towards health coverage for everyone. The rest of the world earns less than your wife's bonuses every year. What's with the "meh?" I think it's happening far less than YOU know. kwim?

No the rest of the world does not make less then his wife's bonus every year. Maybe where you live that's an unbelievable amount of money but in this area that is not even a drop in the bucket.

 

[Mom2Nick]

We have people supporting familes on less than 25K a year here. You were not poor, you don't know what 'poor' is. Are you aware of what the national guidelines for 'poverty level' income are?

Anyway OP-consider yourself lucky that your husband works for a family business and only took a cut and not a lay off. Sorry, I know it hurts!!!

$25,000 a year in NJ is poor and has been for some time. My property taxes are $10,883.60. People don't pay taxes like this on $25,000 a year.

 

[Lisa_M]

We have people supporting familes on less than 25K a year here. You were not poor, you don't know what 'poor' is. Are you aware of what the national guidelines for 'poverty level' income are? http://aspe.hhs.gov/poverty/09poverty.shtml

I think 20k-25k is poor for higher cost of living areas. You make too much to qualify for assistance, but don't have enough to live on comfortably. My dumpy apt runs us $11,000 per year and our area is a mid range COL.

 

[shortbun]

No the rest of the world does not make less then his wife's bonus every year. Maybe where you live that's an unbelievable amount of money but in this area that is not even a drop in the bucket.

http://aspe.hhs.gov/poverty/09poverty.shtml

Not even a drop in the bucket and yet the U.S. Government guidelines does not consider a family of four poor unless they are making less than 25K a year. Hard to believe isn't it? Are you aware of how many people in this country live below the poverty guidelines? What you consider 'not even a drop in the bucket' is all many people have. Lucky you!!!
And this country is in financial trouble because lots of us are living in homes with hugely inflated value, have jobs that pay waaaaay more than we are worth and have no idea of the situation of the rest of the world.

It was estimated by our government last year when W was in charge that 12.5% or approximately 37million Americans live below the established poverty line. There are no real numbers currently as to how many live just above but are ineligible for any services thus really in trouble.

 

[shortbun]

Hey guys, I'm feeling like this thread is getting 'political' for me so I'm opting out to keep from breaking the rules. Hope you don't think I'm doing YAGE, I'm not. Just trying to comply. Cya on another thread!

 

[mjkacmom]

We have people supporting familes on less than 25K a year here. You were not poor, you don't know what 'poor' is. Are you aware of what the national guidelines for 'poverty level' income are? http://aspe.hhs.gov/poverty/09poverty.shtml

Anyway OP-consider yourself lucky that your husband works for a family business and only took a cut and not a lay off. Sorry, I know it hurts!!!

I know people living very average lives in very average homes who pay almost $25,000 a year in property taxes alone. I know the median income in my area is almost $80,000, and there are some very impoverished areas included in this figure, as well as areas with a higher median income than where I live. The median price of a home is $400,000 - there are no single standing homes here for under $300,000, unless you choose to live in a dangerous area.

 

[Mom2Nick]

http://aspe.hhs.gov/poverty/09poverty.shtml

Not even a drop in the bucket and yet the U.S. Government guidelines does not consider a family of four poor unless they are making less than 25K a year. Hard to believe isn't it? Are you aware of how many people in this country live below the poverty guidelines? What you consider 'not even a drop in the bucket' is all many people have. Lucky you!!!
And this country is in financial trouble because lots of us are living in homes with hugely inflated value, have jobs that pay waaaaay more than we are worth and have no idea of the situation of the rest of the world.

Yes not even a drop in the bucket. I don't care what the US Government has to say because it does not take into consideration the VAST differences in the cost of living from area to area. $25,000 for a family of 4 in Tennessee would yield a MUCH different life over $25,000 a year in New Jersey.

 

[IDoDis]

OMG! What color is the sky in your world? $10,000 LESS? I haven't worked for a company that gave out bonuses for over 20 years and then they were just $300. to $500. per year.

My friend's DH who's a bank VP gets around 60K in bonuses each year. Now that the banks are under scruitany with how they give out bonuses, he no longer gets the bonuses quarterly, but instead gets it in one lump sum once a year. Boo hoo! They complain because they have to wait a whole year for the money. So many of the employees got mad, so the bank started giving them some smaller bonuses (like 3K) in the form of Visa gift cards.

Boy, life sure is rough.

 

[DVC-Don]

I worked for my wife and got laid off July 3rd. No work and she's got to keep the doors open. State unemployment office wants me to go a a seminar next week - on how to start your own business.

 

[Caradana]

My friend's DH who's a bank VP gets around 60K in bonuses each year. Now that the banks are under scruitany with how they give out bonuses, he no longer gets the bonuses quarterly, but instead gets it in one lump sum once a year. Boo hoo! They complain because they have to wait a whole year for the money. So many of the employees got mad, so the bank started giving them some smaller bonuses (like 3K) in the form of Visa gift cards.

Boy, life sure is rough.

I will say this:
It's probably the meritocratic and capitalistic American in me:
But I admire the guy for earning that. I don't resent him at all. He clearly works for a company that continues to make money in this economy, and he probably works for a bank that either didn't take the TARP or has since repaid the TARP (with interest) to the Fed. He probably has a BA or higher and is highly skilled in his field. He probably has 10+ years of management experience. He is clearly able to deliver results that he can document. Why would I be mad at this guy for positioning himself so beautifully to make money?

I'm 29. I sit here and think to myself, when I'm 39, 49, 59 ... how can I be in an industry where I'm reasonably protected from layoff and making great $? I sit here and position myself for this now. I fully anticipate being laid off at some point in the last 10 years. My plans B, C and D are underway.

 

[goofyernmost]

I will say this:
It's probably the meritocratic and capitalistic American in me:
But I admire the guy for earning that. I don't resent him at all.

I never said anything about resentment. I was just exclaiming that when someone says that they have lost their job or have had a cut in pay, to come out with..."Yea, I know what you mean my bonus was cut by $10,000.00 this year"... it's just not the same thing. I know that most people in high paying jobs spend to the degree they earn so therefore any cut in pay can be a real problem, but compared to those with a salary that is probably equivalent to what the other persons bonus is...it is hard to feel sorry for them.

Rule of thumb...whatever your salary is (if it's not poverty level) don't commit it all. Save some for the day when you need it. Whether it be for a trip to WDW or to pay taxes or buy food, you never know when you might need it. Never live beyond your means or at any level where a loss of a paycheck means immediate disaster. It's not always possible when your income is low...but I would be hard pressed to not find a way to save money if I made a large salary. It's all a matter of personal choices.

 

[C.Ann]

DD's DH - who is the sole project estimator for a multi-million dollar commercial construction firm - has not received a raise yet this year - nor the second bonus that he normally receives.. For every job that becomes available, producing the "winning" bid" lies solely on his shoulders - and his boss can be a bear .. It's a very, very stressful job, but he loves it and knows that he's lucky to even have a job in this market..

His wife (my DD) is now totally disabled and even though she receives disability for herself and disablility for their DD, it's a fraction of what she was formerly earning and makes her feel horrible about herself..

If her DH was in the position where he had to take a $3 an hour pay cut, he would take it in a heartbeat - because the job market is so tight right now..

I'm sorry this happened to your family, but for now just try to re-work your budget and hopefully when work picks up your DH will be back to earning what he was..

Good luck!

 

[quentina]

My husband works for a family member. He does contracting. His boss lost a few jobs recently and has told my husband that since he lost these couple of jobs he now is going to pay him $3/hour less! Has anyone ever heard of something so dumb? Usually people get raises....not get money taken away! So now on top of loosing some hours per week (because there is less work) he is going to get paid $3 less per hour. My husband has worked for this company for 7years. We are related to the owner which is why this is a sticky situation. My husband wants to stay loyal to his boss and hopes things will turn around in the future, which I'm sure they will cuz doing contracting they pick up new jobs all the time, but I think my husband is getting taken advantage of. What do you all think? Have you ever heard of an employer doing this? Thanks

He should qualify for partial unemployment. Check into it. It is happening more than you think, I know a few people who took 10-20% cuts at their currect jobs.

 

[mjkacmom]

I never said anything about resentment. I was just exclaiming that when someone says that they have lost their job or have had a cut in pay, to come out with..."Yea, I know what you mean my bonus was cut by $10,000.00 this year"... it's just not the same thing. I know that most people in high paying jobs spend to the degree they earn so therefore any cut in pay can be a real problem, but compared to those with a salary that is probably equivalent to what the other persons bonus is...it is hard to feel sorry for them.

Rule of thumb...whatever your salary is (if it's not poverty level) don't commit it all. Save some for the day when you need it. Whether it be for a trip to WDW or to pay taxes or buy food, you never know when you might need it. Never live beyond your means or at any level where a loss of a paycheck means immediate disaster. It's not always possible when your income is low...but I would be hard pressed to not find a way to save money if I made a large salary. It's all a matter of personal choices.

$10,000 was 10% of his salary. Our mortgage payment is probably 3x's of many who make half of what he does (our property taxes went from $4000 to $11,000 in the past 10 years, our utility bill went from $300 a month to $600 a month in 10 years). We can not afford a vacation this year, just like the person who's mortage is only $1,000 a month, and making $40,000 a year, who took a cut.

We just get by (with some credit card debt), eat out about 4 times a year, get pizza twice a month, cut coupons, shop clearance, drive VERY old vehicles, basic cable... I actually got mad at DH for getting the kids' lunch at Burger King (never happy meals here - everyone shares the chicken and fries), because we had coldcuts in the house. His salary might seem large to you, and might be large if we lived where you live, but it's not here (he was almost transferred to NC - we could've bought a home twice the size of our 1,800 100 year old home, with the ac in the windows, no garage, old kitchen, and pocked the extra $ from our home sale.