Project Title: Investigating Paycheck Distribution Frequency: Is More Often Always Better?
BASIS Advisor: John Hight
Internship Location: CFPB Data and Research Department
Onsite Mentor: Joseph Remy
How often should employees be paid? Initially, the relevance of this question may not seem clear. After all, isn’t how much we pay people more important than how often? While this is true, how often employees are paid can still have a significant impact on their financial wellbeing as well as that of the employer and economy as a whole. Therefore, in my senior project I will explore what the optimal payment frequency is to account for all three of these factors, as well as taking into account what effects income and industry might have on my conclusions. In order to do this, I will look into the data that other researchers have found surrounding the benefits of paying employees more or less often at the micro level. To make conclusions at the macro level, I will examine the economic data of countries and states that recently changed their regulations as to how often employees must be paid. Through my internship with the Office of Research at the CFPB, I will be gaining invaluable experience in sophisticated economic data analysis. I hope that by combining what I learn through both avenues, I will be able to propose a system for paying and educating employees in a way that maximizes the benefits for the employee, employer, and economy.
Hello again! Unfortunately, I don’t have very much to report this week as I prepare for my final senior project presentation on May 22nd and make the last few edits to my paper. My internship finished up this last Friday after I gave a presentation on my internship findings to some of the other members […]
Hi again! Since this week has consisted of much of the same editing and presentation preparation as last week, I thought I would take the time here to give my thoughts on what the best pay frequency is, considering the many different benefits and drawbacks of more and less frequent pay. This is not a […]
Hi everyone! This week I have begun the long editing process as I finally finished my full first draft including the further research section of my senior project paper. Since I don’t have too much research content to share, I thought I would go over some of my ideas for further research. One of the […]
Hi again! Having almost completed the first draft of my paper in the first half of this week, I now turn my attention to the final section of my paper: further research. Having analyzed and summarized the research that has currently been released on my topic, I now feel that I have a good understanding […]
Hi everyone, I don’t have as much to report from this last week since, on the independent project front, I have been working on the first draft of my final paper, starting with the section on consumption smoothing. This week, I will work on the sections concerning payday frequency and alternative methods to addressing the […]
The last two weeks have been very hectic, having received my remaining college decisions and finished my preliminary outline for my final project paper. By tomorrow, I plan to have my final outline done so that I can begin work on my first draft later in the week. Although I anticipate continuing to learn more […]
Hi everyone! Having learned some of the basics of Stata, this week I got to get more into the data analysis part of my internship. I’ve performed t-tests, ran regressions, and made data tables with Bureau data. I’ve also been learning more about how to interact properly with the company server. In terms of my […]
Hi again! This week, I began the data analysis part of my internship and familiarized myself further with Stata. I’ve learned how to create new variables, organize data, and complete some simple calculations. I’m excited to continue learning the program over the course of the internship. Unfortunately, due to confidentiality reasons, I cannot go into […]
Hi everyone! My name is Adi and for my senior project I will be exploring the question of how often employees should be paid. I will be exploring this question from the perspective of the individual employee, employer, and larger economy. I will also be considering how this optimal paycheck distribution frequency may vary for […]