How do you work out overtime if you have a salary??

K9cuddles

Okay..I'm abit stuck... i thought to work out your overtime @ time and ahalf you would divide your salary by 52 weeks, then 35 hours (that what I work).. and then times by 1.5.. but this fig doesn't seem right!!

Anyone know who to work it out?

K9cuddles

argh.. 52.13.. might be the rounding then??

nomoneytoday

We use salary divided by 260 (work mon-fri) then by 7 hours.
Multiply x 1.5 , or fixed fee of £x if at the weekend for up to 4 hours, £x if up to 8 hours.

Scully's_Girl

Wow, 7 hours. Oh, that must be lovely.
I work a 10 hour day, every day. What I could do with all those extra hours!

K9cuddles

Scully's_Girl wrote:

Wow, 7 hours. Oh, that must be lovely.
I work a 10 hour day, every day. What I could do with all those extra hours!

haha.. funny you mention that... my bf works 12 hours a day.. he's just got a new job for the same money.. BUT works 72 hours less a month!! :eek:

Weymouth_Man

What about Salary Divided by 52.
Then Divided by 36.25 ?

K9cuddles

Why 36.25???

Andy_L

Method 1: Look in your contract of employment.
Method 2: Ask your payroll people/person.

Andy

Molanole

I have do financial reporting for an EU funded project and to claim for staff time we have to calculate our hourly rates like this:

52 weeks multiplied by 5 days (if you work five days in a week) will give you the number of available days in a year, in this case 260 days. Subtract any annual leave entitlement that you get (lets say 20 days) which then gives you the number of days in a year that you are contracted to work (240) Multiply the number of working days (240) by the number of hours you work each day (normally about 7) and this will give you the number of working hours in a year. In this calculation that would be 1680 hours.

You then divide your annual salary by the number of working hours to give your hourly rate. You HR department might have a different way of doing this though as by deducting your leave entitlment it actually inflates your hourly rate. Also, there might be provision to pay time and a half for overtime and such like which I haven't factored in.

Hope this helps
M x

K9cuddles

Thanks for that input Molanole.

Woby_Tide

also bear in mind that overtime might be paid at normal rates, 1.5x or 2x possibly more depending on days and is often capped in some organisations i.e. at £25per hour max. Your contract?HR people are the only place that can tell you this