Well, yesterday went well. I was a little surprised to find that it was a 10 hour overtime shift instead of the 9 hour shifts that they used to ask for. The extra hour is nice. There was also overtime for the night shift, so I suppose this is the start to a reasonable string of overtime and now the trick begins, seeing how well I can hold this down. The extra cash feels good. Interestingly, according to my math, if I compare how much I make on average and the marginal effect of working this extra day, overtime only gives me about an $18 premium after tax. I think that says more about taxes than anything else. Pre-tax though I get an extra $50.25 on top of what I could regularly expect for an average normal 10 hour shift. That basic exemption skews the average rates that people think about and the marginal rates.
To make the math simple, I suppose I'll estimate that working that shift brought in an extra $150. It's actually a little more, but I like being able to do math in my head and the difference isn't much. An extra $300 on a pay check is quite a bit. $600 in a month, over three months and enough extra pay to count for nearly a month of extra income. $600 at 6% is $36, or an extra $3 a month. Not much, but it adds up.
Saturday, May 2, 2009
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