Time is Money: Is Your Paycheck Accurate?

As a locum pharmacist, managing your finances is crucial for maintaining stability and ensuring you’re fairly compensated for your valuable work. One key aspect of this is reviewing your invoices or paychecks to ensure accuracy and transparency. Here’s a breakdown of the 4 essential steps to follow:

1. Time Accuracy: When reviewing your invoice or timesheet, ensure that you’re invoicing for the time you actually started and finished work, not just the scheduled start/finish time. This ensures you’re accurately compensated for the hours you’ve dedicated to your shift.

2. Understanding Pay Rate: Determine whether your pay rate is super inclusive or exclusive. Super inclusive means that your super contributions are included in your base pay rate, while super exclusive indicates that super is paid on top of your base rate. You can review your super contribution when you receive your invoice, when you submit your timesheet and via your Earnings Dashboard on the app in your profile section. Understanding this distinction is essential for calculating your total earnings correctly – see Locumate’s blog article “Is super really that important?” for more information. 

3. Checking Pay Rate: Verify your pay rate to ensure it aligns with your agreed-upon terms and the industry award. This information should be clearly outlined in your agreement with the pharmacy or invoice. If you’re unsure, don’t hesitate to reach out to the Locumate Support Team to clarify.

4. Taxed Amount: Review the taxed amount deducted from your paycheck to ensure accuracy. Confirm that the correct tax rate has been applied based on your income bracket (Check out the ATO for further information) and any applicable deductions or allowances.

By following these steps and diligently reviewing your invoices or paychecks, you can ensure that you’re being fairly compensated for your work as a locum pharmacist. Additionally, staying informed about your finances empowers you to address any discrepancies promptly and maintain financial stability in your career. Remember, your time and expertise are valuable, so it’s essential to advocate for yourself and ensure you’re receiving the compensation you deserve.