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Working Moms
shakinros
member
Bad cash flow, no paycheck
shakinros
member
in Working Moms
I started a new job in January. My first time working at what's basically a startup that functions on client fees. I'm employee #5.
After I got here, I learned that the cash flow is tight month-to-month which I guess shouldn't be altogether unsurprising. Still, it's not something I'm used to. This company is small and a nonprofit and the executive tells me they can't get bank loans without a personal guarantor (which they don't have at present). Paychecks are about 10 days overdue this month. We had a staff mtg about it last week. They say the cash is coming, but they can't say when because we are literally waiting on checks to come in the mail from clients.
Part of me wants to look for a new job like RIGHT NOW. The other part of my brain is trying to remember that I get paid pretty well (probably better than I will elsewhere if I jump ship) and I have amazing amounts of autonomy and flexibility in my day to day schedule.
How big a deal would this late paycheck situation be to you?
After I got here, I learned that the cash flow is tight month-to-month which I guess shouldn't be altogether unsurprising. Still, it's not something I'm used to. This company is small and a nonprofit and the executive tells me they can't get bank loans without a personal guarantor (which they don't have at present). Paychecks are about 10 days overdue this month. We had a staff mtg about it last week. They say the cash is coming, but they can't say when because we are literally waiting on checks to come in the mail from clients.
Part of me wants to look for a new job like RIGHT NOW. The other part of my brain is trying to remember that I get paid pretty well (probably better than I will elsewhere if I jump ship) and I have amazing amounts of autonomy and flexibility in my day to day schedule.
How big a deal would this late paycheck situation be to you?
This discussion has been closed.
Re: Bad cash flow, no paycheck
Sounds like something the local United Way did here a few years back. Anyway....
For me, it would be a huge deal since I pay the mortgage and childcare. If it happened more than once, I'd be gone.
Since my computer doesn't show me the edit box...I'll just say that some non-profits work off donations which then take a portion for overhead costs which then they use for things like operating costs including payroll. In that case, if you don't have the donations you can't pay the bills. When you said non-profit, that is what it made me think of.
They are probably breaking the law by not paying you. In addition to looking for another job, I would research which agency in your state you can contact about that. In Texas it's the Texas Workforce Commission. Other states call it different things, but it's usually a name similar to that.