Banking Hours? Anyone? - Page 2
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  1. #14
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    Quote Originally Posted by tuba View Post
    Has anyone here ever worked for a company where any hours worked over 40 in a week get "banked" for use at a later date, like when things slow down before cooling or heating season hit? I had never heard of this before and was curious how it works and if it is legal........

    Its called "comp time" and I've heard of companies doing it. The employee gets the shaft because usually its 1 for 1.

    What happens if you get laid off or move on to a better job ? Do they compensate you for all that OT ??

    Nope.

  2. #15
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    I used to do it at a residential company. 1hr OT was comped at 1.5hrs vacation. It was put on our checks weekly so it was all above the boards.

    Worked out great for taking long weekends.
    UA LU189

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  3. #16
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    Quote Originally Posted by tuba View Post
    Has anyone here ever worked for a company where any hours worked over 40 in a week get "banked" for use at a later date, like when things slow down before cooling or heating season hit? I had never heard of this before and was curious how it works and if it is legal........
    Back in the 90's I worked for a company which allowed such and had provisions for it.

    Personally, I liked it.

    But, keep in mind, it was a VOLUNTARY thing. They did not force you to bank the time, under their rules they could not force you. And it was all above board. That is it was tracked and accounted for formally.

    i.e. When I worked any extra time I had an option. I could simply record it and count the time as regular time for the 8 hrs, plus overtime done after that. And get paid accordingly. Or, when filling out my time sheet I could record 8 hrs as regular pay, then record time after that using a code which meant I was banking those hours. I'd get a check for the hours I claimed pay for, and a computer generated form indicating I had N number of banked hours.

    Banked hours could be carried over week to week, month to month, but NOT from year to year. If you hadn't used those banked hours at the end of the year, you got an extra pay check for the unused hours.

    As an example:
    Monday: 8 hrs regular pay claimed. 4 more hours banked.
    Tuesday: 8 hrs regular pay. 2 more hours banked.
    Wednesday: 8 hrs regular pay.
    Thursday: 8 hrs regular pay. 2 more hours banked.
    Friday: Insert 8 hrs banked time here. Gone fishing.

    Fact was, I preferred that method. Would rather have the long weekend as versus the extra pay. Besides, as my wife once pointed out to me, she does the family accounting/book keeping, the extra taxes I paid due to actually collecting the money at overtime rates were such that effectively I wasn't pocketing 1.5 times my hourly rate.

    Now, could I have found use for the extra money? Sure. But did I NEED the extra money I'd have gotten for claiming the over time? Nope. In fact I specifically kept our household budget managed such that we NEVER had to count upon over time hours to make ends meet and pay the bills. Would have done that even if I'd collected the over time pay. I've seen to many guys start counting upon over time pay as necessary income. And have it come back and bite em in the a**.

    And in truth, I much preferred and enjoyed extra days off.

    Heck, I had weeks where by Wednesday ... I was done. 24 hrs claimed for regular pay. Another 16 banked. Called boss and said, "Okay, I'm done for the week. Gone fishing."

    However, that was back then, working for that company.

    I'd be cautious these days about such things. Folks I work for now don't have such formalized rules and system. So any time I work extra hours that'd normally be classed as overtime, but instead elect to defer the hours and put em on another day's hourly reporting as regular time ... it's an unofficial "gentleman's agreement" between myself and certain guys I work for. Guy's I specifically trust to keep their end of the bargain. Since there is no "official" way in this company's accounting system to do such things.

    But there are others in the company, who if I work on their projects, I'd not trust to keep their end of the bargain. So I either simply stop work at the end of regular hours, or would claim the overtime pay.

    Personally, my opinion has not changed over the years ... I'd still rather have the extra days off as versus the extra 50% (minus the extra taxes). However the folks I work for don't have the formal system the old employer had. So these days such arrangements are under the table, and based upon trust. And I don't trust just anybody and everybody. A few of the various folks I do work for, certainly not all of them.
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  4. #17
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    I'd still rather have the extra days off as versus the extra 50% (minus the extra taxes).
    My OT pay meets or exceeds my regular hourly pay a year. I don't care for all the OT, but we have to do what needs done, right?

    I can't imagine letting 1/3 of my OT pay evaporate because I would rather have the time off. I worked hard for that money, and it's mine.

    Thats in the same vein as working 12 hours two days in a row, and getting the third day off so OT pay is avoided.

    No thanks.

  5. #18
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    If you are an hourly paid employee, don't think this is legal anymore. If you are salaried, then don't really know about legality, but imagine that it would be some way to compensate for needing to work past quiting time as generally salaried is not paid any O.T..I'd NEVER try to get hourly employees to go along with "banked" overtime as you'd get an audit from wage and hour folks the first guy you fired, regardless of reason.

  6. #19
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    I think state employment laws trump any "banking" arrangement an employer would like to set up. Overtime is overtime and according to state law usually should be paid as such.
    It's not going to fix itself...

  7. #20
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    Apr 2012
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    The way I look at it is this: if I work 32 hours on one week I want paid 32 hours. If I worked 45 hours one week I want paid 40 hours and 5 hours over time. I give you an honest working week I want paid an honest working week. Moving hours from one week to another is against the law. Having them bank hours will make it easier to screw you. If your cutting off hours from extra hours worked on your last day of the week is fine and not against the law.

  8. #21
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    Quote Originally Posted by freemind View Post
    Thats in the same vein as working 12 hours two days in a row, and getting the third day off so OT pay is avoided.

    No thanks.
    Totally legal under Federal Law....
    Technical incompetence is NOT a sales tool....

  9. #22
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    Dec 2006
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    I thought this thread meant working bankers hours when I saw it... I guess if you don't need the OT and can financially swing it to take time off instead, then sure why not. If this was the case, I would make sure that my banked hours can be used when I want or added to vacation or sick time.

    I don't know if I would ever work for a company that made this mandatory, but I've always had anything after 8 hours as OT, even if I only work 32 hours a week. I've also never had to worry about being able to get less than 40hrs in the field either, so.

    FWIW, I'm out of the field and working at least 50-55 hours a week instructing and doing prep/admin work. Contract salary makes me miss OT a little. Fortunately, I do most of my prep time from home while watching tv in my pj's or forever lazy, so that has to be worth something.

  10. #23
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    Quote Originally Posted by freemind View Post
    My OT pay meets or exceeds my regular hourly pay a year. I don't care for all the OT, but we have to do what needs done, right?

    I can't imagine letting 1/3 of my OT pay evaporate because I would rather have the time off. I worked hard for that money, and it's mine.
    And that's fine. Wonderful.

    I fully support your ability to make that decision. And agree with you that you are due what you've earned IAW the contract between you and your employer.

    Did you miss where I mentioned that the decision as to whether or not one took the OT pay or banked the extra hours ... to be claimed and used another day .... was VOLUNTARY?

    Heck anyone wanting to just take the OT pay, got it. No questions asked.

    In fact, most of the younger, less experienced ... and lower paid ... fellows opted to take the OT. And were often clamoring for and volunteering for even more OT.

    Wonderful! Great! I was all for them having more OT, myself. As much as they wanted.

    However, ......I......, did not particularly want or need the OT. My hourly rate was quite adequate for me to support my family comfortably with just my earnings from a regular 40 hour week.

    As stated, I was paid adequately.

    I enjoyed my ability to decide, "Okay, enough is enough. Hey, Boss, I'm done. I want to use up some of those banked hours. Next week looks like a low workload period. So I'm just gonna work 3 days and charge comp time against the other 2 days ... and enjoy a long weekend. If yah gotta call me in for something, just keep that in mind because I'll be charging you overtime for every bit of it."

    And that's the way it went. He didn't get to decide, I did. Oh, he could tell me that due to the work load demands that he couldn't afford to let me take that Thursday and Friday off. But if he decided that, he had to bite the bullet when I first counted 8 hrs "Comp Time" for each of those days, and then wrote in 8 hrs of over time for each day, in addition.

    He didn't like that. But there wasn't a darn thing he could do about it. It was in the rules, written rules ... contractual. After all, I'd originally been owed OT hours if I'd wanted to claim them.

    When earned/worked, I'd not wanted to claim them. But now, I wanted the darn time off. Could hear the fish calling my name. Boss had to decide if he really wanted me to work those two days bad enough to essentially pay me OT for all of it.

    Most of the time ... not.

    Most of the time once I let him know I was taking comp time off, the only way he was gonna call me back in was for an emergency service call.

    It's about choices. Back at that time and place of work, I could choose to decide to do things YOUR way, or the way I typically preferred.




    Thats in the same vein as working 12 hours two days in a row, and getting the third day off so OT pay is avoided.

    No thanks.[/QUOTE]
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  11. #24
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    Well, it's been exactly 2 years since I originally posted my question and I must say that I completely agree with osiyo. In my 12 years swinging the wrench, the hours banking has been the best thing I have ever experienced in this trade. To have hours in the 'bank' is so nice on those weeks where you don't quite get your 40. And in the slow season, what a relief to have the hours to get to your 40. Need a long weekend? Take from the bank. After the 1st year, I added up the over time I would have gotten and compared the two systems: banked, and overtime. I would have made less money taking the overtime and dealing with the short weeks. The company still paid overtime, but only if the customer paid overtime rate.

    Unfortunately, the owner is retiring, son in law is taking over, they are cramming down changes in the workplace in the name of being more corporate and 'organized' The 1st thing that went away is the hours banking, and now they are micromanaging all the hours and all the talent is not happy. It was a nice while it lasted, but now we are all stressed because we are having to work weekends just to get to our 40 hours because of the new dispatching rules.

  12. #25
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    Chuckle, not meant meanly. But understand what you're trying to say.

    Where I work, the farther we get from the core of folks who actually understand the business we are in, the less profit we are making.

    The NEW folks who actually THINK they have any clue whatsoever how things really work, are all, primarily MBA's ... with very nice degrees and GPA's. But who are mostly dumber than a box of rocks, as concerns the real world.

    Pretty sad, actually.

    I don't hate em or anything. I can hold my own, got enough tucked away. All I need is enough money to buy bait, and a couple gallons of fuel per week to run my boat. And I'm fine.

    But I've gotta admit, pretty much hate seeing folks I worked for and LIKED working for turning into such morons. MBA's and this or that degree or Cert meaning more than real world, hands on experience.

    A meeting room, where, in the past, blue collar men with a lot of knowledge were invited to attend, but now? Mostly only people with the RIGHT paper credentials, none of which indicate any real, hands on knowledge of what they're making decisions about, are invited.

    LOL ... and they ask the field guys to suggest why business isn't going as well as those folks would've hoped or was the case as in the past.

    Of course, most of the field guys, NONE that are actually good at what they do, do not offer any worthwhile suggestions ... because they know it's a useless use of time. Why bother? The suit and tie folks with MBA's aren't gonna listen nor understand. Might as well spend the time going fishing with the kids or grand kids ... time better spent.

    <Shrug> Not gonna give up on em any time real soon. But for the first time in over a decade, they're making me think about it.

    Getting pretty tired of someone who hasn't any REAL clue as to how things actually works thinking that just because he or she has some upper degree in this or that, from a school (college) rated higher than some other ... that he or she should be the top decision maker.

    Where I work, the more this has become so ... the more profits per job have decreased. And the more that the folks who actually knew their jobs VERY well ... have been made the blame for failure to make projected profit margins ... and then fired (or the equivalent).

    I'm not the smartest, nor anywhere near the most important person in my division where we do what we do. Minor, but I hope a solid, contributor. But gotta say, getting pretty tired of an unknowing, ignorant management continually asking US what WE are doing wrong.

    Kinda getting to the point where I'm gonna decide I'd rather go fishing, planting my loved vegetable garden, etc.

    <Shrug> I don't know. Really, I LIKE my job. I like to think I'm pretty darn good at it. KNOW I'm certainly better at it than any of my so-called bosses. Would prefer keeping on at it.

    But getting pretty tired of them asking same old questions, then not actually taking action on the answers they get. Pretty much like a recent project. THEY (management) blamed the lead installer for all the failures. Truth was, fault resided in the account manager (salesman), project manager, and division manager. The only reason I or another tech doing the job was not blamed ... all those guys mentioned had not even enough knowledge about what we do as to form any sort of opinion. Pretty sad, actually.

    Oh, they've all attended the "sales class", as concerns the equipment involved. THINK they know more than they actually do. Can't blame em nor do I fault em. They don't know any better. Would be like me holding a child at fault for not knowing more than his or her experience level at fault. Hopeless and senseless reason.

    Ahhh, well, Rain has locally stopped. Maybe I can get out there and clean up the yard, get the vegetable garden prepped and so forth. Yah know, do something actually worth while.
    A site where I stash some stuff that might be interesting to some folks.
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  13. #26
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    I had a CDL driving job where we had the option of banking OT hours and taking time and a half off time. We also had the option of taking off on slow days. Our slow time was the summer so for me it was great. I'd take off all of the time. I almost never worked Fridays!

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