Working overtime is something Americans do more than any other country according to a recent article by ABC News. Yet at times it seems we still can’t get ahead financially.
Do you fit into this group? If you work overtime on a regular basis but still have trouble keeping up with your bills you might wonder if you should even bother.
Perhaps you have thought about getting a second job instead. But when it comes to earning extra money, should you work overtime or get another job? When you compare the two, which is the better option?
In today’s post, I’ll share the benefits and drawbacks of working overtime. Next week I’ll share the other side of the story, the benefits and drawbacks of taking on a second job.
Benefits of Working Overtime
There are some obvious benefits of working overtime. You might, if fact:
Make More Money
One advantage working overtime has over getting another job is that the pay may be higher in most cases. The reason for this is because you should be getting at least 1.5 times your normal rate of pay for overtime at your current job.
Getting a second job may not pay you as much as you currently make for the same number of work hours. In fact, you may have to work longer hours at the second job to make as much. You must compare the rate of pay from the second job to what you make for overtime pay at your first.
Get Work Caught Up
Another positive thing about working overtime is that it enables you to get work caught up. Working those additional hours could allow you to tackle projects set aside due to lack of time.
However, if your overtime hours are spent conducting customer service and nothing else this may not be the case.
Be Seen as a Team Player
Working overtime can affect the image you portray to your coworkers and boss. They may see you as more of a team player if you are willing to work extra when it’s needed.
The upside of this is when it comes to getting promoted, you may be first in line. That could increase your pay even more and out-shadow the additional money and benefits of taking another job.
Drawbacks of Working Overtime
When you work overtime you will find there are some drawbacks. A couple of them are:
It Makes You Tired
Extra hours spent at work on a regular basis can burn you out and make you tired. Also, if your present job provides a flexible work schedule you may be trying to put in the extra hours while your family sleeps.
If that is the case, shorting yourself an hour or two of sleep per night eventually adds up. It can make you more tired during regular work hours and have negative effects on your performance.
You Get Less Time with Family
A second disadvantage of spending all those extra hours working is that you may get less family time. If done on a regular basis your family could begin to resent you and your employer.
You could be missing out on critical events in the lives of your children by spending extra time at work. As time passes, you could become resentful of missing sports events, music performances, and other experiences your children have.
It Causes You to Dread Working Extra
Dreading going to work because of the overtime you put in is another reason working overtime regularly may become difficult. Extra time spent at a job you are not enjoying anyway can suck the positivity out of going to work each day.
Getting up in the morning normally seems like a simple task. It is – until you start disliking going to work each day. If you dread working extra it isn’t easy to force yourself to get out of bed and go to work on a daily basis. You may become a cranky and difficult person to be around both at work and at home.
To be continued…
What do you think so far? Do you think it’s worth it to work overtime?