Q&A for How to Calculate Your Hourly Rate

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Question

How can you calculate the monthly rate?

Community Answer

Take your annual salary and divide by twelve.

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Question

I know my hours, and my monthly salary, but have yet to find a formula that tells me what I make hourly with (lots of) overtime hours. What can I do?

C Grace

Community Answer

You have not indicated whether you are paid extra for overtime or whether you get a flat monthly salary and are expected to complete your work regardless of the number of hours. If it's a flat monthly salary, then the hourly rate will vary depending on how many overtime hours you worked. Otherwise, it is two different hourly rates; for example, basic for standard hours, say 40 per week and time and a half for hours over 40.

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Question

How do I convert my annual pay into hourly?

C Grace

Community Answer

Calculate how many hours you work at your job every week. Divide your annual pay by 52. Now you have both hours and wages for 1 week. Divide wages by hours and that is your hourly rate. If you work longer hours at certain times of the month, then track your time for a month, and divide your annual pay by 12. Divide wages by hours.

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Question

How do I calculate my hourly rate given the total amount of hours I work in a year?

Community Answer

Divide the amount you earned in one year by the total number of hours worked to determine your hourly rate.

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Question

If I earn a basic wage of R1600 for a 40 hour week, how much is my hourly rate?

C Grace

Community Answer

Divide 40 into 1600.

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Question

How do I calculate weekly pay after taxes?

C Grace

Community Answer

The easiest way is to look at your pay stub. If you don't have one, then you will need to find out what your tax rate is before you can do the calculation.

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Question

If I work .66 overtime and 80.60 hours in two weeks with a gross wage of 938.29, how much am I making an hour?

C Grace

Community Answer

You did not provide the rate at which your overtime is paid. For example, if it's time and a half, then multiply .66 by 1.5 and add that to your regular hours. Then you can finish the calculation.

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Question

How do I find out annual wages?

C Grace

Community Answer

You did not provide your current payment schedule. If you are paid hourly, then multiply that by the number of hours you worked in a year. If you are paid daily, multiply by the number of days, and so on.

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Question

Someone is telling me I made too much money on a job, but they refuse to factor in the amount of time. Does this make sense?

C Grace

Community Answer

As long as you feel you were paid fairly for your time, it doesn't matter what anyone else thinks.

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Question

How do I get the percentage of 1 hour in 8 hours?

Community Answer

It's 12.5 percent. If you actually want to know HOW to do it, just divide 8 by 1. You would have gotten 0.125. Then push the numbers forward two places.

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