How to convert yearly salary to hourly
A salaried employee is paid a set wage each pay period.
Some circumstances, such as applications for certain loans, can require a salaried employee to convert an annual salary to an hourly rate. Starting with an annual salary, an average weekly workload or the total number of hours worked in a year, the conversion is simple and requires only a little math skill.
Divide your yearly salary by 52, the number of weeks in a calendar year. The result will be your salary per week.
Divide your weekly salary by the average number of hours you work per week, which is 40 for most people. The result will be your hourly salary.
Divide your yearly salary by the total amount of hours worked for the year. The result will be your hourly salary. Use this method instead of Steps 1 and 2 if you know your total annual hours.
The Fair Labor Standards Act (FLSA) offers an exemption from minimum wage and overtime pay to workers hired as executives, administrative, professional and outside sales employees, and certain computer workers. Exempt workers can be paid a minimum of £295 total on a salary or hourly basis--the latter cannot be less than £17.9 per hour.
Salary should not be converted to hourly using a "monthly salary" because two months of the year have five weeks and the rest have four. Therefore, the calculation will be incorrect if done by the month.