[mooism2]

Of course it makes a difference.

If I am paid annually in arrears, I must live off savings or credit for the first year. I pay off the loans and rebuild my savings at the end of the first year, but must dip into them again to get me through the second year. And so on.

And I run the risk that my employer goes bust just before paying my salary and I lose out on a year's wages (if paid monthly, I only risk a month's wages).

Meanwhile, if I'm paid annually in advance, this will surely cause my employer cashflow issues, leading them to only be able to afford paying a lower salary; but I can't effectively use a paid-annually income, because most of my expenses are monthly. And if/when I move jobs, I will probably have to repay salary.