The salary to hourly calculator is used to calculate the hourly wage, monthly pay, and weekly pay from the annual salary.
Want to know how much you make an hour? The salary to hourly calculator can help you. This easy-to-use tool enables you to convert your annual salary into hourly, monthly, or weekly wage.
Also, check out more financial tools such as compound interest calculator and mortgage calculator.
Hourly wage refers to the amount of money you are paid for every hour of work you perform. On the other hand, salary is the fixed amount of money you are paid over a period of time, in general, a year.
Salary earners get a fixed amount of money notwithstanding the number of work hours. That is, they are paid whether or not they work. Moreover, they also receive extra money for working overtime.
Hourly workers are only paid for the number of hours they work. Their pay varies with their work hours. They too get additional money for working overtime. These employees must report the hours they work each day and submit it to their employer at the end of the day or the week. For that, they use a work hours calculator to make their daily or weekly timesheet or reports.
All hourly workers are considered non-exempt by Fair Labor Standards Act (FLSA) guidelines. That is, they are eligible for overtime and must be remunerated with time-and-a-half pay if they work for more than 40 hours in any week. So, they get almost 1.5 times for their overtime work.
To calculate hourly wage using the annual salary, firstly, divide the salary by the number of hours worked per week. Then, divide the resultant value by the total number of weeks worked each year.
Hourly wage = Annual salary / Hours worked per week / Weeks per year
Suppose you earn $40,000 per year and work 40 hours per week for 52 paid weeks per year. Then, your hourly wage would be:
Hourly wage = 40000 / 40 / 52 = $19.23 per hour
Firstly, multiply the monthly salary by 12. Then, divide the resultant value by the number of hours worked per week. Lastly, divide the result by the number of weeks worked each year. The final figure will be your hourly wage.
Hourly pay = ( Monthly salary × 12 / Hours worked per week ) / Weeks per year
Let's say you earn $2500 per month and work 40 hours each week for 50 paid weeks per year. Then, the calculation will be:
Hourly pay = ( 2500 × 12 / 40 ) / 50 = $15 per hour
