How do I determine how much I am paid per hour if I am told a salary?

Question

How do I determine my yearly salary if I know how much I am paid per hour?

Answer 1

If your salary is $30,000 per year you would divide that by 52 weeks. This means you recieve $576.92 per week. Divide that by the number of hours you work in a week (typically 40, so that's what we'll use here). That means it would be $14.42 per hour.

HOWEVER, salary is a tricky one. That does NOT mean that if you work 50 hours per week you will get overtime. Salary means that is how much you are paid... period. Oftentimes businesses will put people on salary if they know that the person will be working frequent overtime. Because you are on salary you recieve no extra pay for a few extra hours here and there.

Other things to consider to know what you are ACTUALLY paid is the benefits. What health insurance do you recieve and how much would that cost you on your own? If the company pays 100% of your health benefits, that means YOU save several hundred dollars a month or more. That is also a part of your "pay". If you recieve $30,000/yr in salary and $15,000 in benefits such as health insurance, life insurance, paid vacations etc your job actually pays a total of $45,000 per year. This should be considered before choosing that $35,000/yr job with no benefits over this one.

Answer 2

How many hours will you work in a week? Multiply that times the number of weeks in the year you will work and divide by the salary amount. Example 40 hours a week x 52 weeks = 2,080 weeks. The salary is 75,000 a year. So you'd make about $36 a hour.

Answer 3

To find the per hour rate you take the Total Salary and divide it by the number of hours worked, (EXAMPLE: if you work 40 hours for a salary of 210. Your hourly wage would be $5.25 per hour.)

Hope this helps. Jesus loves you!
Donald
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Answer 4

Well, since most people work 40 hours a week, and since there are 52 weeks in a year:
To determine per hour pay, divide your annual salary by 2080.
To determine your annual salary, multiply your hourly wage by 2080.

Answer 5

So you started working somehwere without even ASKING how much you'd be paid? A community college, huh? There is no specific law that requires that you be informed formally, probably because nobody though that anyone would start work without knowing how much they were making. They usually do need to give you a pay slip which shows what you were paid and how many hours, but that is of course after the fact.

Answer 6

HOURS If you know your hours per week, multiply that number by 52.

INCOME Take your weekly salary and multiply that times 52, or your bi-weekly salary times 26, or your monthly salary times 12.

Divide your total income by the total hours.

Answer 7

You would take the salary you are given then divide it by 52 (how many weeks in a year).. this gives you your approx. weekly salary, you can then divide that by how many hours are required (most full time jobs 40 hrs/week)

Answer 8

well is seems like simple math,
divide the income by the number of hours worked and you will have your hourly income.

Keep in mind that if you are an employee, the employer will make deductions as required for taxes, cpp, union fees etc. etc.

If you want to know your hourly wage before the deductions, you may want to talk to the payroll department and they will be able to provide you with a printout of the deductions and where they go, in actual fact most emplyers will provide this attached to your paycheque as a running record for income and deductions, hours worked etc.

If you ar an independent contractor, the people that pay you, will not make these deductions, and you will have to look after this yourself.

Good Luck

Answer 9

Depends on how you're paid. My employees; even salary are paid each week. Therefore they take their gross salary (before taxes and deductions) and divide it by 40 hours... that usually gives them their hourly rate.

Answer 10

you still take your 40 hour week x' 4.3 being 172 hours.. a month .. Then take 172 x's twelve months = 2,064 hours per year.. Now take your salary wage and divide it into 2,064 this is your hourly wage.... So don't work over time when salary because that will decrease your hourly wage...