Congratulations! You finished college and got yourself a shiny new job. Yay! All those years of hard work have paid off and you’re now employed and getting a bigger paycheck than you’ve ever had before. (We hope!). But, what to do with all that newfound money? Well, option one is to send it to me, but that probably won’t happen, so here’s what you should be doing.
Check the paycheck for accuracy.
You’d be surprised, but HR people and Payroll people are actually human and make mistakes from time to time. Make sure the rate you are paid is the same rate as in your offer letter. If it’s not, bring it to their attention the very same day-even if it’s for more. Why? Because if it’s for more than your offer letter says, they can require you to pay it back. If it’s for less, you’re being (accidentally) cheated. It’s very easy to fix a paycheck error on one paycheck. It’s not so easy when you don’t notice until you get your tax documents next year, or even late. Yes, people sometimes don’t notice errors for years and it’s a huge mess by then.
To keep reading, click here: What to Do with Your First Paycheck