Difficulty: Easy
Instructions
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Step 1
Multiply your hourly wage by the number of hours you work in a day. This is your daily wage.
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Step 2
Multiply the daily wage by the number of days you work in a week. This is your weekly salary.
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Step 3
Multiply your weekly salary by 2 to obtain your bi-weekly salary.
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Step 4
Multiply your bi-weekly salary by 2 again to calculate your monthly salary.
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Step 5
Multiply your monthly salary by 12 to calculate your annual salary.
Comments
franklin1777 said
on 11/23/2008 You could just go for a rough calculation of
((hourly rate * (number of hours worked in a week / 7))X 365)
or use one of the online calculators like salaryconverter.co.uk
Anonymous said
on 8/8/2006 If your job salary includes 5 days of vacation, 2 sick days, and paid holidays (government) you need to calculate your rate at 11 months instead of 12 months. As all the days you would normally be paid, will not be paid at the part-time hourly rate.
Anonymous said
on 8/8/2006 If your employer grants you all legal holidays, two personal days, and a one week vacation (i.e. government employees) that is approximately 21 days a year or one month that a salaried person is paid and does not work. The formula does not work to properly calculate part-time hourly/hourly to salary.
Anonymous said
on 2/1/2006 A typical full time salaried employee gets 7 holidays and two weeks of vacation a year plus a benefits package valued at about $3,900. If you're on a W2 without benefits, you should take your hourly salary and multiply by 1900 for a rough number. If I was making 45 an hour, and offered 86000 a year, I would consider it a raise.
Anonymous said
on 12/28/2005 If you're going from self-employed to employee, this guide is too simplistic. There are many other factors to consider, including self-employment tax, health and retirement benefits, vacation and sick leave, and whether or not you will no longer be supplying your own equipment.