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How much do I earn per hour?
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# 1
buel
Old 25-11-2011, 9:06 AM
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Default How much do I earn per hour?

Hi,
Please please can someone help me settle a dispute-
My employer pays us a 'basic salary' of 1675 gross per month.
This multiplied by 12 is 20100.

Surely this means that our annual salary is 20100?

By the same token, 20100 divide by 52 equalls 386.
So 386 divide by 40 (hours) is 9.66 so is our pay per hour 9.66?

And our annual salary is 20100?

Am i missing something here please? Is it that obvious?
Not yet a total moneysaving expert...but im trying!!
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# 2
Realbairn
Old 25-11-2011, 9:13 AM
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your annual salary is based on your gross monthly wage x 12, not your basic. What's you boss saying your salary is?
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# 3
lkmc01
Old 25-11-2011, 9:15 AM
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I would say it is that simply. You're well paid!! I dont know anyone that earns more than me. I have a BSc, MSc and years of voluntary work. I get 9ph
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# 4
SailorSam
Old 25-11-2011, 9:17 AM
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Most people would say yes your correct, but by your hourly pay do you mean the hours you actually work.
What about holidays ?
Say for example you have 4wks holiday, in that case you're earning 20100 for only 48wks in work, so that means for you're getting 10.47 for each hour you 'work'
Now that i'm what you could describe as an older person i've stopped eating health foods.
I need all the preservatives i can get.

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# 5
cr1mson
Old 25-11-2011, 9:18 AM
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Do you actually work 40 hours or is that 35 hours plus an hours unpaid lunch each day? If so should be dividing by 35 to get 11.04 an hour.

C
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# 6
scheming_gypsy
Old 25-11-2011, 9:26 AM
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Quote:
Originally Posted by buel View Post
Hi,
Please please can someone help me settle a dispute-
My employer pays us a 'basic salary' of 1675 gross per month.
This multiplied by 12 is 20100.

Surely this means that our annual salary is 20100?

By the same token, 20100 divide by 52 equalls 386.
So 386 divide by 40 (hours) is 9.66 so is our pay per hour 9.66?

And our annual salary is 20100?

Am i missing something here please? Is it that obvious?
pretty much... what's the dispute?
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# 7
buel
Old 25-11-2011, 9:28 AM
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Sorry for not explaining further.
Where my confusion lies/where i went wrong is that my calculation of 1675 divide by 4 weeks is wrong as there isn't always 4 weeks in one month, some (such as this month) is a 5 week month.

So is the true calculation 1675 x 12 months is 20100, then 20100 divide by 2080 working hours in a year equalls 9.66?

Oh and we work 8am to 5.30pm mon to thurs and 8am to 12pm on a friday with 30 minutes for unpaid dinner.
Not yet a total moneysaving expert...but im trying!!
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# 8
agrinnall
Old 25-11-2011, 9:35 AM
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You're not explaining anything, you're just giving us a bunch of calculations that say the same thing in different ways. If you want some help you will have to explain what the problem is.
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# 9
cr1mson
Old 25-11-2011, 9:37 AM
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Still confused what is the point? It is normal for salaries to be paid in equal 12 month instalments. Whenever I have been paid on that basis I never gave a thought to my hourly rate.

C
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# 10
scheming_gypsy
Old 25-11-2011, 9:52 AM
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Quote:
Originally Posted by agrinnall View Post
You're not explaining anything, you're just giving us a bunch of calculations that say the same thing in different ways. If you want some help you will have to explain what the problem is.

they already did.
they originally though their hourly wage would be month / 4 / 40 but then realised that there isn't 4 weeks in every month. So they wanted to confirm that the correct way to work it out would be:
monthy wage * 12 months / 52 weeks / 40 hours = hourly rate.
I don't think it's a massive issue, just something they were trying to work out for themselves.
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# 11
getmore4less
Old 25-11-2011, 10:00 AM
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Quote:
Originally Posted by buel View Post
Hi,
Please please can someone help me settle a dispute-
what dispute?
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# 12
19lottie82
Old 25-11-2011, 10:27 AM
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Quote:
Originally Posted by lkmc01 View Post
would say it is that simply. You're well paid!! I dont know anyone that earns more than me. I get 9ph
Really? Firstly, i don't have a clue what the majority of the people I know earn. Also, the average UK wage is 26,000 which equates to 14.28 per hour.

How do you know the OP is well paid? they haven't disclosed what their job is?

Last edited by 19lottie82; 25-11-2011 at 10:29 AM. Reason: missing txt
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# 13
SailorSam
Old 25-11-2011, 10:33 AM
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Quote:
Originally Posted by 19lottie82 View Post
Also, the average UK wage is 26,000 which equates to 14.28 per hour
But when the powers-that-be worked out that 14.28 did they take into consideration your holidays; lunch hours; ciggie breaks and even the time you went off to have a wee.
Now that i'm what you could describe as an older person i've stopped eating health foods.
I need all the preservatives i can get.

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# 14
19lottie82
Old 25-11-2011, 10:37 AM
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Quote:
Originally Posted by SailorSam View Post
But when the powers-that-be worked out that 14.28 did they take into consideration your holidays; lunch hours; ciggie breaks and even the time you went off to have a wee.
Nope, it's just the official figure given. the same as the official figure I am given for my annual wage, and I'm sure you are too.

I don't really understand your point here?
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# 15
scheming_gypsy
Old 25-11-2011, 10:43 AM
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Quote:
Originally Posted by SailorSam View Post
But when the powers-that-be worked out that 14.28 did they take into consideration your holidays; lunch hours; ciggie breaks and even the time you went off to have a wee.
they don't need to take half of that into consideration.
if you're salaried then holidays etc don't matter as you're paid a salary, so your standard hourly rate equates to salary / weeks / hours = per hour.
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# 16
buel
Old 25-11-2011, 10:44 AM
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Thank you scheming_gypsy, that is wonderful. I wish people weren't so quick to jump on people on here.

To clarify, yes im just trying to make sure that my 'calculation' is correct as a friend is insisting that we earn under 20,000 and it is more like 19,500 but my assumption is that no one can get past the fact that we get 12 monthly payments of 1675 which come to 20,100.
Not yet a total moneysaving expert...but im trying!!
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# 17
HappyMJ
Old 25-11-2011, 10:47 AM
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Quote:
Originally Posted by 19lottie82 View Post
Really? Firstly, i don't have a clue what the majority of the people I know earn. Also, the average UK wage is 26,000 which equates to 14.28 per hour.

How do you know the OP is well paid? they haven't disclosed what their job is?
I was thinking that as well. I wouldn't even get out of bed for 9 an hour. It just isn't worth it. 67.50 per day....270.50 a week take home including student loan repayments...No thanks. That reflects my job though in that it is worth much more than 9 an hour.
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# 18
scheming_gypsy
Old 25-11-2011, 10:50 AM
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Quote:
Originally Posted by buel View Post
Thank you scheming_gypsy, that is wonderful. I wish people weren't so quick to jump on people on here.

To clarify, yes im just trying to make sure that my 'calculation' is correct as a friend is insisting that we earn under 20,000 and it is more like 19,500 but my assumption is that no one can get past the fact that we get 12 monthly payments of 1675 which come to 20,100.

if you go to http://www.thesalarycalculator.co.uk/salary.php and stick 20100 into the salary box, it'll do the rest for you.
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# 19
HappyMJ
Old 25-11-2011, 10:51 AM
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Quote:
Originally Posted by buel View Post
Thank you scheming_gypsy, that is wonderful. I wish people weren't so quick to jump on people on here.

To clarify, yes im just trying to make sure that my 'calculation' is correct as a friend is insisting that we earn under 20,000 and it is more like 19,500 but my assumption is that no one can get past the fact that we get 12 monthly payments of 1675 which come to 20,100.
Ahhhh...before or after tax. When negotiating annual salaries you generally talk before tax. If you get 1,675 in your pocket every month then your annual salary is much higher.

Your friend might be talking about multplying the hourly rate back up into an annual salary and it might appear to be 19,500. Does it really matter?
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# 20
buel
Old 25-11-2011, 11:45 AM
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HappyMJ, i did specify gross.

Does it matter? Well if you dont want to help, just dont post. Simple.

Does it 'matter'? Well in the grand scheme of things, no. But it's something id like help with so that's why i posted the question.

Thank you to those who have helped.
Not yet a total moneysaving expert...but im trying!!
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