Caulculating a Salary?
- Thread starter XTORONTO
- Start date
XTORONTO said:
As the number of working days/hours varies by month, the most accurate approach is to use the hours worked per week times 52 weeks or ... using your example ...
$20/hr * 40 hours week, * 52 weeks
so 20*40= 800, 800 *52= $41600
XTORONTO said:
There is no translation for this. You can calculate what you would earn in a year, but you are still paid hourly, not by salary.
For example, if my salary is $50000, and I work 40 hours per week and I wanted to calculate what my time was worth per hour
50000/52/40= $24.04 per hour.
being on salary, I sometimes work 32 hours and sometimes 48 hours... but the biweekly pay never changes
Papi: you seem to have one of those salary positions that actually works properly. Every position I had where I was paid salary it was the company's term for "slave" and had me work a minimum of 45 hrs a week and often as much as 90 or 100 with no additional pay or time off.....
If you work a 40 hr work week, the easiest way is to take your hourly wage, double it and say thousand after it. This is not exact but it is very close.
ex. $20/hr = $40 thousand / year.
or $20 x40hrs=$800x50wks=$40000
usually you take 2 wks off for vacation and if not it's $41,600. Still pretty close.
Like I said pretty close. At least it is a good way to figure out what someone makes a year real fast. You can look like a math whizusing this method
ex. $20/hr = $40 thousand / year.
or $20 x40hrs=$800x50wks=$40000
usually you take 2 wks off for vacation and if not it's $41,600. Still pretty close.
Like I said pretty close. At least it is a good way to figure out what someone makes a year real fast. You can look like a math whizusing this method
All most everyone i know with a salary position works the way Papi does..... including me....Toroz said:
stang said:
See, the companies I worked for, knew that they needed extra bodies in order to complete all the work but just wouldn't hire any. Why? Because they had us slaves to take up the slack.
What really got my goat is that the reason they needed extra bodies is because the procedures they created were so convoluted that you basically had to do everything 3 times. For eg: to purchase a $5.00 box of SS screws I had to spend 10 minutes filling out a purchase order. Spend 20 minutes chasing down the GENERAL MANAGER to get HIM to sign it, then track down the Accounting Person to cut a cheque and THEN go to my bank, deposit the cheque, and use MY money to buy the damn things.
Don't forget holidays, both statutory and vacation when you're calculating. In general, you're supposed to be paid for these as if worked, but anyone paid by the hour knows there are many legal and contractual wrinkles that can result in no work=no pay that day.
If the question arises because you're trying to choose between the two pay plans, you also should consider what the overtime provisions are for both—hourly often includes premium for OT and salary often ignores it—and how much there's likely to be over the year.
If the question arises because you're trying to choose between the two pay plans, you also should consider what the overtime provisions are for both—hourly often includes premium for OT and salary often ignores it—and how much there's likely to be over the year.
Good point OJ but what many companies fail to abide by is the labour law that states that anyone (salary or otherwise) who works more than 44 hrs a week has to be either paid for those hours or given time off WITH PAY in lieu of money.....
