How to convert hourly pay to yearly salary

When you earn an hourly wage for employment, it can be difficult to estimate your annual salary. However, if you work a routine week with the same number of hours each week, you can easily convert your hourly pay to an annual salary and figure out how much money you make in one year. If you do not work the same number of hours each week, you can use an average number of hours worked to figure your annual salary.

Determine how many hours you work in one week. If your hours are always the same each week, simply add up the hours you work and write them down. If your hours vary from week to week, you may not be able to figure your exact annual salary but you can get a close estimate. If some weeks you work 40 hours and other weeks you work 35 hours, figure your annual salary based on a 37.5 hour work-week or calculate annual salaries for both 40 and 35 hour work-weeks.

Multiply your hourly wage by the number of hours you work in one week to determine your weekly salary. For example, if you make £7.80 per hour and you work 40 hours per week, your weekly salary is £312.00.

Figure how many weeks you work in a year. There are 52 weeks in one year. If you have unpaid holiday time, subtract this time from the 52-week year to find the number of weeks you work in one year.

Multiply your weekly salary by the number of weeks you work in a year. Using the same example, if your weekly salary is £312 and you work 51 weeks per year, your yearly salary is £15,912.

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About the Author

Kathryn Hatter is a veteran home-school educator, as well as an accomplished gardener, quilter, crocheter, cook, decorator and digital graphics creator. As a regular contributor to Natural News, many of Hatter's Internet publications focus on natural health and parenting. Hatter has also had publication on home improvement websites such as Redbeacon.

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