How Do I Calculate My Hourly Rate If I Make $31,000.06 Annually?

5

5 Answers

Anonymous Profile
Anonymous answered
There are 52 weeks in a year.  Take 31,000.06 divided by 52.  Then divide by 40 hours in a week.  You come up with $14.90.  Alternatively, you could divide 31,000.06 by 2080--the number of working hours in a year if you work fulltime, and that pay does not include overtime, and you had no sick days or times you weren't getting paid.  Also, that number includes paid holidays. 
 
Do NOT divide by 12 months and then four weeks.  Why?  This gives you 48 weeks, so you are missing four weeks. 
thanked the writer.
Anonymous
Anonymous commented
This incorrect because you are shorting yourself. There are 52 weeks in a year, so you divide the annual income by 52 and then divide by the number of hours you work per week.
ZZ Profile
ZZ answered
Well, if you get $31,000.06 a year, and there's twelve months in a year, then divide it by twelve to get how much a month
 
$2,583.3383 now you change that to how much you get in a week by dividing your amount by how many weeks are in a month then by how many days are in a week and then finally how many hours are in a day.
Confusing but I hope this helped
Kyoko Katayama Profile
Kyoko Katayama answered
Divide your annual pay by 2,000 hours to get your hourly pay.  This is based on working 40 hours per week for 50 weeks.  You don't get paid for your two weeks vacation because you are a WAGE worker, therefore you only get paid for hours worked.
Anonymous Profile
Anonymous answered
If I bring home $1195.54 biweekly after taxes what is my hourly rate?

Answer Question

Anonymous