What does your Salary really pay?

mrweetabix

I was thinking about this the other day. I get paid a salary and contracted to work 37 hours a week. Pay is 25k. Im not going to but we could take, petrol, holiday and all kind of stuff into consideration.

We shall use the simple formula Salary / (hoursx52)

So - 25,000 / 1924 = £12.99 an hour.

The reason i would like to see this is that some people think they are really clever by earning say 30k but working 45 hours a week which is £12.82 an hour. Some of our bosses earn 55k but must work 60 hour weeks!

Just a little experiment to get a true reflection!:beer:

[Deleted User]

Your hourly rate won't buy you a nicer house/better holiday... but your salary will

mrweetabix

It wasn't really about nicer houses and nicer holidays but appreciate what you say.

Its more to do with how valuable your time is, stress levels etc.

Also how people can gice themselves a payrise. If they stick to their contracted hours and get their work done of course that frees up more time to make money elsewhere?? Unless you love being at work!!

Chuzzle

£7.21 for 36.25 hour week. In my eyes this is a pitiful amount

thewaltman

Need to take holidays into account... unless you work all 54 weeks?

thewaltman

Obviously meant 52 weeks... unless you work really damn hard!

mrweetabix

Chuzzle wrote: »

£7.21 for 36.25 hour week. In my eyes this is a pitiful amount

This is what I mean - when salary's are broken down are they that great if you don't work smart?

triggerhappy_2

Mine ends up at £10.49 per hour, taking 5 weeks holiday into account.

Doesn't feel like that though.

Drea

Using your formula I get £7.42 (rounded up) an hour.

mrweetabix

I did mention taking holidays and petrol and travelling expenses into account but for stage 1 I decided on a straight 52 week year - hope people don't mind!

RoxyK

I'm self employed now but when I moved jobs I always worked out the pay per hour especially if you will be working different hours. Quite an eye opener!

Came in very handy when one agency told me I'd be getting xx a year, but in fact that included a bonus. Seeing as bonuses aren't guaranteed how can that be included as part of your salary. I turned down that job in the end.