how to figure out what i make per hour from a salary wage

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For many, finding their hourly pay rate is as uncomplicated as looking at a contempo pay stub. However, if you're a salaried employee or are self-employed, computing your hourly wage^[i] takes a few steps. You tin summate your hourly rate based on a single project, a sure period of time, or a salary. If using a bacon, you can also figure in variables to get a more accurate rate.

1. i

   Proceed rail of how many hours y'all've worked. For this to be helpful, y'all'll need to make up one's mind what your pay flow is. Y'all tin can figure out your hourly charge per unit based on an annual income, for a more accurate figure, or you lot find your hourly rate for a specific task or time period.

   • For example, if you get paid by the job or project, you may just want to keep runway of the hours for that project to determine your hourly rate for that job. Or y'all tin determine your hourly rate for a shorter period of time, such as a month or a few weeks.

2. 2

   Calculate your income. Continue track of your paychecks. Be certain to use the same pay period that y'all selected to figure up hours. Once again, this could exist for a single project or several paychecks.

   • You lot tin can choose whether or not to include taxes in your calculations. Annotation that if you don't include taxes, your hourly rate will appear higher.

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3. three

   Divide your income by your hours. This will give you your hourly rate, based on the project or fourth dimension flow you selected.

   • Income / Hours = Hourly Rate
   • Example: $xv,000 / 2114 = $seven.x per hour
   • You tin can check your results against this salary converter, which too allows you to correct for several different variables.
   • If you want to determine what to charge for your hourly rate, start with market inquiry.^[2]
   • Meet what other professionals in your expanse are charging for a similar service or skill. Charge at the median rate.^[iii]
   • Also consider the demand for your services. If it increases, you can increment your rate according to it.^[four]

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1. 1

   Calculate your yearly income. Many people may already know their yearly salary, but in the issue that yous don't, bank check your most recent pay stub. Employ your gross (not net) pay—that is your amount before taxes—and multiply the number by the number of pay periods in a year.

   • For those on a bi-weekly schedule, you lot would multiply the number past 26.
   • For those whose companies offer two scheduled paydays per month, such as the 15th and 30th/31st, you will only multiply the number by 24.

2. 2

   Summate how many hours you work in i year. For a quick rule of thumb, you tin utilise a standard formula such as:

   • 7.5 hours per twenty-four hours x 5 days per week x 52 weeks per year = ane,950 hours worked per year.
   • 8.0 hours per day ten five days per week x 52 weeks per year = 2,080 hours worked per year.^[5]

3. 3

   Calculate your hourly wage. In one case you have these two numbers, you tin divide your totally yearly income by your full number of yearly hours to achieve an approximate hourly wage.^[6]

   • For instance, if your full income was $15,000 and your total number of hours was 2,080, so 15,000 / 2,080 = approximately $7.21 per hour.

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1. one

   Suit your yearly income. If applicable, add whatever additional coin stemming from your job to your yearly bacon total. This can include tips, bonuses, piece of work-based incentives, etc.^[vii]

   • Whatever bonuses or extra work-based incentives you await to receive should be added directly to your yearly total also.
   • If you happen to work a salaried position where you also receive tips, the procedure becomes a bit more than complicated. Keep track of your tips for several weeks or even months, and divide the total past the number of weeks you take been tracking the data. This volition requite you an average tip total per week. Multiply this number by the number of weeks you lot will earn tips for the year, remembering to subtract weeks where you won't earn tips such as when you are on vacation.
   • The rule of thumb for calculating tips is that the more weeks you tin can apply to tabulate your average, the more accurate it will be.

2. 2

   Add hours to your calculation if you work overtime. ^[viii] For overtime pay, multiply the number of overtime hours you worked by the charge per unit you receive for additional work, and and then add this total to your yearly salary.

   • Your overtime hours tin can be either paid or unpaid depending on your position. Add the additional hours worked regardless.
   • Example: Say you work an average of an actress 2 hours every week except when you are on leave, which is ii weeks every year. Your actress hours are 2 hours x 50 weeks = 100 hours per year.
   • In this instance, your adapted hours worked per year would be: 2080 + 100 = 2180

3. 3

   Decrease hours from your calculation if you receive paid time off. Add together the number of hours y'all take off piece of work each year and subtract this number from the total number of hours you worked in the yr. Remember to include holidays, ill get out, special get out, and any time when you start late or finish early.

   • Think only to include paid time off that you will actually use. Every bit an example, you may have accrued two weeks of sick time, but y'all also aren't likely to apply all of information technology.
   • For case, say that you take two weeks of paid vacation every yr, that y'all are never ill, and that yous always go out 1 hour early Fri afternoons. Your reduced hours would be (8 hours x 2 weeks) + (1 hour 10 l weeks) = 66 hours per year.
   • Your adjusted hours worked per year for this instance would exist: 2180 - 66 = 2114

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Add New Question

• Question

  How tin you lot calculate the monthly rate?

  

  Take your almanac salary and split up by twelve.

• Question

  I know my hours, and my monthly bacon, but have yet to notice a formula that tells me what I brand hourly with (lots of) overtime hours. What can I do?

  

  Y'all take not indicated whether you are paid actress for overtime or whether y'all get a apartment monthly salary and are expected to consummate your work regardless of the number of hours. If information technology's a apartment monthly bacon, then the hourly rate will vary depending on how many overtime hours y'all worked. Otherwise, it is ii different hourly rates; for example, bones for standard hours, say twoscore per week and time and a half for hours over 40.

• Question

  How do I convert my annual pay into hourly?

  

  Calculate how many hours you piece of work at your job every calendar week. Divide your annual pay past 52. Now you have both hours and wages for i week. Divide wages by hours and that is your hourly rate. If you lot work longer hours at certain times of the month, and so rails your fourth dimension for a month, and split up your almanac pay past 12. Divide wages by hours.

• Question

  How do I calculate my hourly rate given the total corporeality of hours I piece of work in a year?

  

  Divide the amount you lot earned in one twelvemonth by the total number of hours worked to decide your hourly charge per unit.

• Question

  If I earn a bones wage of R1600 for a xl hour week, how much is my hourly charge per unit?

  

  Divide 40 into 1600.

• Question

  How practice I summate weekly pay after taxes?

  

  The easiest way is to look at your pay stub. If you don't have 1, then you will demand to find out what your tax rate is before you can exercise the adding.

• Question

  If I work .66 overtime and 80.60 hours in ii weeks with a gross wage of 938.29, how much am I making an hour?

  

  You did not provide the rate at which your overtime is paid. For example, if it's time and a half, so multiply .66 by ane.5 and add that to your regular hours. So you can finish the calculation.

• Question

  How practice I find out annual wages?

  

  You did not provide your current payment schedule. If you are paid hourly, then multiply that past the number of hours y'all worked in a year. If you lot are paid daily, multiply by the number of days, and then on.

• Question

  Someone is telling me I made besides much coin on a chore, but they refuse to gene in the amount of time. Does this make sense?

  

  As long as you feel you were paid fairly for your time, it doesn't matter what anyone else thinks.

• Question

  How practice I get the percent of i hour in eight hours?

  

  It'south 12.5 percent. If you actually want to know HOW to do it, just split up eight by 1. You would have gotten 0.125. Then push the numbers forward ii places.

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• Check whether y'all get paid for the hours that you are on leave and discover out how many hours.

• Check whether the work will always be available. If you only get paid when at that place is work available, and then your constructive income will exist much lower.

• When you do the sectionalisation the rounding mistake ways the hourly rate is slightly less accurate than the annual bacon. Notwithstanding, small changes in the almanac salary (upward to about $200) will all have the aforementioned hourly rate.

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Commodity Summary 10

If you're self-employed and need to calculate your hourly charge per unit, you'll need to decide the length of your pay menstruum. For example, accept a stretch of fourth dimension where you were working, like a month or a week, and consider that your pay period. Equally you piece of work during that length of time, hold on to all of the paychecks you earn. To get your hourly rate, divide the income y'all made in that period past how many hours y'all worked in that time. If you're salaried, figure out roughly how many hours yous work in a twelvemonth, then divide your yearly salary by that number. For more help, like how to business relationship for overtime and paid time off, read on.

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