When does your employer pay you for your toil? For the Brits reading this post it is likely to be the 25th of each month; I’ve been paid on this day since my first post-graduation job as a research microbiologist in 1995. Non-UK resident readers will have a different nationally recognised date. In Germany it is the 30th and in Portugal it can be any day between 1st to the 8th of the month. Our U.S. friends often get paid weekly; imagine that monthly paid folk! Think about how that would change the way you manage your money such as deciding when to pay the mortgage. If you have a regular pay structure, you can manage your finances with a degree of confidence.
Uncertainty around when, how or even if things are paid is never a good thing, especially if you are investing heavily and not seeing your return for years to come. This is exactly how global pharmaceutical businesses find themselves when faced with the UK and a future scheme called value-based pricing (VBP).
[Read more…] about UK and value-based medicine pricing: Pay day cannot come too soon