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PTO - Need advice

Posted: Sep 26th, 2020 - 2:29 pm In Reply to: It's enticing to - consider taking the new job

For the heck of it, I just looked over some of the documentation they sent me and this is what it says regarding PTO:

Status Length of Employment:
Up to 7 years

Length of Employment:
7 years and Beyond

FT40 3 weeks(cash value** $1,500)/year
PTO bank accumulates at 5 hrs/$62.50/pay period

4 weeks(cash value** $2,000)/year
PTO bank accumulates at 6.67 hrs/$83.37/pay period

FT30 2 weeks (cash value of $1,000)/year
PTObank accumulates at 3.34hrs/$41.75/pay

3 weeks (cash value$1,500)/year
PTO bank accumulates at 5 hrs/$62.50/pay period

Accumulated PTO can be used to compensate for lack of earnings during requested time off, or be requested as
a cash payout at any time. At the end of each year accumulated PTO equivalent to one year’s balance,
dependent on length of employment, can be rolled over in the PTO bank; any balance exceeding one year’s
balance will be paid as a cash payout.

Again, the set hourly rate that they pay for PTO is only minimum wage where I live, so it's definitely nothing to get excited over. I also wonder how difficult it would be to actually even use your PTO to take time off. I know that some companies make it extremely difficult for people to take vacations or even just 2 or 3 days off.

PTO aside, I'm still stuck on the whole 4 cpl situation. We have a house payment and a car payment and I really don't think that will cut it. I guess I will have to continue being an IC since that's where the money is (at least much better than 4 cpl).

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