How Do You Calculate Annual Salary From Hourly Wage?
Many jobs are paid based on an hourly rate rather than an annual salary that’s divided up into predetermined amounts for each pay period. Usually, this does not make any difference, but occasionally you may need to calculate annual salary from hourly wage. Credit applications usually require a statement of your annual income, or you may have a second job and want to estimate how much tax liability you’ll have so you can have extra money withheld to avoid owing a lot next April 15. It’s not hard to calculate annual salary from hourly wage as long as you keep a few things in mind so you end up with an accurate figure. Determine the actual hourly wage. This is not always the base wage you see listed on a paycheck stub. Some hospitals or round-the-clock manufacturing operations pay a shift differential that’s added to the base wage. For example, your base wage might be $12 per hour plus a 10 percent shift differential (an extra $1.20 per hour) for a total of $13.20 per hour. Figure the hou
