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Earned wage access vs salary advances vs staff loans
Three ways employers help staff between paydays, compared on cost, admin, cash flow and risk.
For employersEWA vs advances vs loansGetPaid. The Journal
Most employers already help staff with money between paydays in some way. Here is how the three common approaches compare.
| Earned wage access | Ad-hoc salary advance | Staff loan | |
|---|---|---|---|
| What the employee gets | Part of wages already earned | Part of next salary, at HR's discretion | A sum repaid over months |
| Interest to employee | 0% | Usually none | Sometimes |
| Speed | Within a minute, any time | Depends on approvals and office hours | Days to weeks |
| Employer cash flow | No impact, provider funds it | Paid out from company funds | Paid out from company funds |
| HR and payroll admin | Automated, one settlement per cycle | Manual approvals and adjustments | Agreements, schedules, tracking |
| Risk of employee debt | None | Low, but can stack up | Yes, including if they resign |
| Consistency and fairness | Same rules for everyone in a group | Varies by manager | Case by case |
The bottom line
Salary advances and staff loans come from a good place, but they cost admin time and company cash, and they can be applied unevenly. Earned wage access gives every eligible employee the same, fast access to pay they have already earned, with none of the manual work and no impact on your cash flow.
Pay when the shift ends.
See how GetPaid helps Singapore employers keep their people, with no change to payroll.