PW is an abbreviation that stands for “per week” and is commonly used in job postings and employment contexts to indicate how frequently an employee is paid or the rate at which a job pays. Understanding what PW means is important for job seekers evaluating and comparing employment opportunities.
Definition of PW
PW stands for “per week” and indicates a frequency or rate based on a weekly period. Here are some examples of how PW is used in job postings and employment contexts:
- A job listing states “Competitive salary, $20/PW” – This means the job pays $20 per week.
- An employment ad reads “$15/hour, PW” – This indicates the job pays $15 per hour and is a weekly paid position.
- A contract specifies that a worker will be paid “$1000 PW” – The worker will earn $1000 each week under this arrangement.
In all of these examples, the inclusion of PW specifies that the accompanying salary, wage, or payment amount is on a weekly basis. This provides clarity around the pay frequency.
How PW Indicates Pay Frequency
Including PW after a pay rate clearly indicates that the rate is on a per week basis. Here are some key points about what PW communicates related to pay frequency:
- PW means the rate is weekly, not hourly, daily, or another interval.
- Jobs with a PW pay rate pay employees on a weekly schedule.
- PW specifies that the accompanying amount is the total weekly earnings, not a per hour or per day rate.
- Pay periods are one week long for jobs using PW to denote pay.
Knowing that PW indicates weekly pay can help job seekers accurately compare opportunities. A job paying $500 PW provides a different overall income than one paying $25/hour, despite both having nice sounding pay rates.
How PW Compares to Other Pay Frequencies
Paying employees on a weekly basis is common, but not universal. Here’s how PW compares to otherpay frequencies:
| Pay Frequency | Abbreviation | Meaning |
|---|---|---|
| Weekly | PW | Per week |
| Hourly | /hour or /hr | Per hour |
| Daily | /day | Per day |
| Monthly | /month | Per month |
| Annually | /year or /annum | Per year |
A job that pays $500 PW is quite different from one advertising a salary of $2000/month. But without knowing PW means per week, it would be easy to misinterpret the weekly pay as a monthly rate. The PW abbreviation provides important clarity.
How to Evaluate and Compare PW Salaries
Because PW has a very specific meaning, it’s important to properly evaluate jobs that advertise salaries as a weekly rate. Here are some tips:
- Convert PW salaries to hourly or annual: Multiply the PW amount by 52 to estimate the yearly salary. Divide by 40 for a rough hourly wage.
- Compare to jobs with different pay frequencies: Convert all salaries to yearly or hourly rates before comparing to get an apples-to-apples perspective.
- Consider work schedule and hours: Make sure to factor in expected hours and schedules. A $500 PW job with 80 expected hours is different than one with 40 hours.
- Confirm pay schedule: Get clarification from the employer if needed on when paydays occur and how many weeks per month are paid.
- Account for taxes and deductions: Remember that advertised salaries are usually pre-tax. Deductions will reduce net pay.
Evaluating PW job opportunities appropriately is key to understanding the overall compensation package and making an informed decision.
PW Salary Example
Here’s an example to illustrate evaluating and comparing a PW salary listing:
- Job A advertises “$400 PW”
- Job B advertises “$15/hour”
- Both jobs are 40 hours per week
Even though $400 and $15/hour sound similar, the PW changes things. $400 PW equals $20,800 annually ($400 x 52 weeks). $15/hour equals $31,200 annually ($15 x 40 hours x 52 weeks). Properly understanding PW shows that Job B actually pays substantially more.
Common Questions About PW in Job Listings
Job seekers often have some common questions when seeing PW used in job ads:
How many weeks per month are included in PW pay?
This depends on the employer and should be confirmed. Often 4 weeks per month are paid. But some employers pro-rate and pay based on exact weeks worked which can vary month to month.
Does PW include overtime pay?
Typically no, the PW rate reflects base pay excluding overtime. Some employers average expected overtime into a PW salary, but overtime pay should be confirmed.
Can PW salaries be paid biweekly instead?
Some employers pay PW rates on a biweekly schedule rather than weekly. The biweekly pay simply equals two times the PW rate. This arrangement ultimately equals the same annual pay and is just split differently.
Is PW pay typically direct deposit?
Most employers offer direct deposit as the standard way to receive PW pay. But paper checks may still be an option depending on the employer.
Pros and Cons of PW Pay Frequencies
Weekly pay structures have some advantages and disadvantages for both employees and employers:
Pros of PW Pay
- More frequent pay for employees
- Smaller gaps between paydays
- Greater flexibility in budgeting paychecks
- Quicker access to money earned from hours worked
- Easy to calculate and process payroll each week
Cons of PW Pay
- Lower one-time payments than monthly or biweekly pay
- Additional processing workload and costs for frequent payroll
- Need to structure employee benefits contributions
- Higher annual pay may seem lower split into weekly amounts
Understanding the tradeoffs allows both employers and job seekers to determine if a PW pay structure aligns with their needs and preferences.
Conclusion
PW is a common abbreviation in job listings and employment contexts that indicates pay is calculated and provided on a weekly basis. Recognizing that PW means per week can help job seekers properly evaluate and compare different employment opportunities. Employers also use PW strategically to attract candidates by emphasizing frequent wage payments. Overall, keeping in mind that PW specifies weekly pay frequency provides clarity and understanding for job hunters and human resources professionals alike.