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
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 CalculationsSources:
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 wee... 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 ye... 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 Un... 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... Full Answer >Filed Under:
