How to Convert Salary Into Hourly Rate
You can figure out quickly what an approximate hourly rate is for an annual salary by dividing it by 2,000, which is the roughly the number of hours worked in a year in a 40-hour-per-week full-time job. A $40,000 per year salary comes out to around $20 per hour. To get an exact figure, you will need to know exactly how many hours you work in a year, which you can extrapolate from a four-week period.
Other People Are Reading
Instructions
-
-
1
Track your hours over a four-week period to determine the hours you actually work. You may be scheduled to work 40 hours a week, but if you are working a lot of extra hours and not being paid for (for example if you are an exempt employee) this will drive your hourly wage down.
-
2
Multiply the actual hours worked over the four-week period by 13 to get figure for annual hours worked. If you worked 180 hours in that period, you annual hours worked would be 2,340.
-
-
3
Divide your annual salary by the total annual hours to get your hourly rate. For a salary of $60,000 with 2,340 hours worked annually, the hourly rate would be $25.64 per hour.
-
1
References
- Photo Credit money money money image by Arman Zhenikeyev from Fotolia.com
