Q:

How do I calculate how much I make an hour?

A:

Quick Answer

The hourly rate of pay is calculated by dividing the gross salary for a specific period by the number of hours worked in that same period. Gross salary is the amount earned prior to any deductions.

Continue Reading
How do I calculate how much I make an hour?
Credit: Guy Sie CC-BY-SA 2.0

Full Answer

The same formula applies whether the salary being converted is annual, monthly, bi-monthly, or weekly. For example, if an individual receives a weekly check with a gross pay of $1,200, and he worked 40 hours that week, his hourly rate is $30.00. Similarly, an individual receiving an annual gross salary of $62,400 who works 40 hours per week, or 2,080 hours annually, also makes $30.00 per hour.

Learn more about Financial Calculations

Related Questions

  • Q:

    What are some important elements of weekly time sheets?

    A:

    Important elements of a weekly time sheet include a section to track the number of hours an employee works each day, along with the total hours for the week, the pay rate for each work period and the type of work the employee does. It is also important to include personal information for the employee, such as a name or identification number.

    Full Answer >
    Filed Under:
  • Q:

    How can you calculate hourly wages?

    A:

    To calculate a salaried employee's hourly wage, multiply the salary amount per pay stub by the payment frequency and divide this number by 2,080 to get the hourly wage, according to Intuit. A full-time employee normally works 2,080 hours per year or 40 hours per week.

    Full Answer >
    Filed Under:
  • Q:

    How do you calculate your annual salary?

    A:

    Intuit Payroll reports that salary employees may calculate annual salary by multiplying the amount of each pay check by the number of pay checks in each year. Alternatively, the number of hours worked each year may be multiplied by the hourly rate to determine annual salary.

    Full Answer >
    Filed Under:
  • Q:

    How does a redundancy calculator work?

    A:

    A redundancy calculator uses age, weekly pay and number of years on the job to determine how much redundancy pay is due to workers when employers in the United Kingdom reduce their workforces by dismissing employees, notes Gov.uk. Workers generally only qualify for redundancy pay if they have worked for their employers for at least two years.

    Full Answer >
    Filed Under:

Explore