What are the specifics of an annual salary?

Question

If a job is advertised as paying £xx thousand per annum,
is that the salary for working 5 days a week, 9-5, for a full year (less public and personal holidays)?

If so, is it normal to be able to work out an hourly rate and expect to be paid any overtime at the same rate? Or is unpaid overtime implied into the main salary?

Do all such jobs expect you to work 8 hour days, 5 days a week?

Answer 1

The annual salary quoted is usually the basic pay before tax, national insurance and employee pension contributions (which may or may not be compulsory). Whether bonus or overtime is paid depends on the job. Most "professional" jobs do not pay overtime - but some pay bonuses.

The main point however, is if this is your first job (and the naivety of your question indicates it is) you should be more focussed on the career prospects and how much you will earn in five to ten years time. You should also enjoy your job/career!

Answer 2

There is a difference between salaried and hourly employees. In the true sense of the word salaried employees make a set amount no matter how many hours they work However, some companies do offer overtime pay for salaried workers, in these cases it is a percentage determined by the employer. If you are a true salaried worker, your company is not required to pay any overtime by federal law. Most jobs in the United States are based on either 40 or 45 hour work week.

Answer 3

Firstly yes you should be able to work out an hourly rate. Some higher grade jobs and most office jobs expect you to work some overtime for free but when you get a contract of employment it will tell you whether you are entitled to overtime pay or not.
To work out your hourly rate most calculations are
annual salary / 52 weeks / hours worked per week

Some jobs you can work part time but full time jobs are 5 days a week with 8 hours per day but don't forget you will be entitled to lunch breaks

Answer 4

You should be so lucky! For most of those jobs in the UK it's five days per week, 09:00 to 17:30. An average of 20 days annual leave (sometimes plus public holidays, sometimes excluding!) and you're very, very unlikely to get paid overtime.

Good luck!

Answer 5

Annual salary is what you will get paid for the entire year. This can be for any number of hours or days. You will need to enquire further if the information is not shown.