What is Answerbag?

Ask questions and share your knowledge with the world here on Answerbag. Get the best answers where there are no duplicate questions and questions are always open - our community of over 1,142,000 will find your answer!

Join For Free!
 

Yearly to Hourly Salary Conversion

Wednesday, July 15, 2009
Related Tags: salary | yearly | hours | work | year
 

Instructions

Days at Work in a Year

  • Step 1:
    Rather than pore over the calendar to count the number of days you work in a year, estimate by taking the number of weeks you work (say, 50) and multiplying by five. To arrive at a final estimate, subtract for holidays and sick days.

Hours at Work in a Year

  • Step 1:
    Take your estimate for how many days you work in a year and multiply by the number of hours you work each day. For example, if you work 240 days in a year and you work eight hours per day, you work a total of 1,920 hours in a single year.

Hourly Wage

  • Step 1:
    To calculate your hourly wage, simply divide your yearly salary by the number of hours you work in a year. If your yearly salary is $30,000, for example, and you work 1,920 hours in a year, your hourly salary is $30,000 / 1,920, or $15.625.

Example #2

  • Step 1:
    Question: Your new job pays you a yearly salary of $45,000. You estimate that you will work 2,480 hours over the course of the year. What is your hourly salary?

    Answer: To calculate hourly salary, simply divide your yearly salary by the number of hours you work in a year. 45,000 / 2,480 = 18.15, so your hourly salary would be $18.15

Example #3

  • Step 1:
    Question: Your new job pays you a minimum wage salary of $7.25 per hour. You estimate that you will work 260 days over the course of the year. Each day, you work for nine hours. What is your yearly salary?

    Answer: First, you must calculate the number of hours you will work in the year by multiplying 260 by nine. Then, multiply by $7.25 to arrive at your yearly salary.

    260 days/year x 9 hours/day = 2,340 hours/year

    2,340 hours/year x $7.25/hour = $16,965/year.

Resources


Yearly to Hourly Salary Conversion Provided by eHow.com
Related Content
Definition of a Yearly Salary
A yearly salary is also known as an annual salary. It refers to the amount of money you make in a single calendar year. At the same time, this concept goes a lot deeper and includes the amount of...
How to Calculate the Hourly Earnings of a Yearly Salary
Some workers are paid a salary rather than an hourly rate. Even if you are a salaried employee, you can calculate how much you make per hour. This can be important when comparing two job offers if...
How to Calculate a Yearly Salary Per Hour
People who earn a yearly salary often wonder how much they are making per actual working hour, especially if they are looking for a new job and want to compare pay rates. Your hourly wage may vary...
How to Calculate Annual Salary From Hourly Wage
Many jobs are paid based on an hourly rate rather than an annual salary that's divided up into predetermined amounts for each pay period. Usually, this does not make any difference. On occasion you...
How to Calculate Vacation Pay for Someone Who Is Salary?
Payroll software usually handles calculating vacation pay for salaried employees, but some software still requires entering an hourly vacation rate. Because some companies still prepare payroll...