What does your Salary really pay?

Idiophreak

Depends how you factor in holidays etc too. If you do, I manage 37.5 hours/week at around £17.50/hour...gf manages around £14 average over her 60 hours.

Without holidays, though, I drop to to 16.50 and gf to 7.50

Jupiler

mrweetabix wrote: »

.....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:

Yep, something I've always got at the back of my mind to be sure (and I too wouldn't make any adjustment for paid holidays).

All of the managers I've known for some years work silly hours for a set salary, however, depending on their pension arrangements they may well be better-off pension-wise (if they survive the stress long enough to draw on it).

I usually look at the calculation as follows though:
Salary divided by 52.166 gives weekly rate, then divide weekly rate by hours worked.
(ie: £25,000 / 52.166 / 37 = £12.95 hourly)
The true rate is calculated dividing by 52.166, not 52.

Some sample calculations to make some of us feel a bit better (there's also the potential effect of more tax at higher salaries too, not factored in here):
£20k at 37hrs = £10.36 hourly
£25k at 37hrs = £12.95 hourly
£30k at 37hrs = £15.54 hourly

£25k at 45hrs = £10.64 hourly
£35k at 45hrs = £14.90 hourly
£45k at 45hrs = £19.16 hourly

£35k at 52hrs = £12.90 hourly
£40k at 52hrs = £14.74 hourly
£45k at 52hrs = £16.58 hourly

£40k at 60hrs = £12.77 hourly
£50k at 60hrs = £15.97 hourly
£60k at 60hrs = £19.16 hourly

bramble1

I work 51.5 hours a week for 48 weks a year and earn an amazing £4.85 an hour.....

mrweetabix

I think its really quite interesting. Please don't factor in holidays though. I think we all need to compare the same thing. Plus the majority will get paid leave anyway so its all factored in.............i think!!!

So £16.50 is the best yet and £4.85 the lowest.

Remember its Salary divided by (hours x52) - we are not factoring in HOLIDAY, PETROL etc!!!!!

bramble1

mrweetabix wrote: »

I think its really quite interesting. Please don't factor in holidays though. I think we all need to compare the same thing. Plus the majority will get paid leave anyway so its all factored in.............i think!!!

So £16.50 is the best yet and £4.85 the lowest.

Remember its Salary divided by (hours x52) - we are not factoring in HOLIDAY, PETROL etc!!!!!

If i was work mine out for 52 weeks in a year it would take my earnings to
£4.48 an hour!!!

triggerhappy_2

OK, excluding holiday, mine would be £9.46 an hour.

SunnySusie

About £20 or so, am I twice as productive? Doubt it. Besides, reminds me of this great story:

A few years ago, a very rich businessman decides to take a vacation to a small tropical island in the South Pacific. He has worked hard all his life and has decided that now is the time to enjoy the fruits of his labor. He is excited about visiting the island because he’s heard that there is incredible fishing there. He loved fishing as a young boy, but hasn’t gone in years because he has been so busy working to save for his retirement.

So on the first day, he has his breakfast and heads to the beach. It’s around 9:30 am. There he spots a fisherman coming in with a large bucket full of fish!

“How long did you fish for?” he asks. The fisherman looks at the businessman with a wide grin across his face and explains that the fishes for about three hours every day. The businessman then asks him why he returned so quickly.

“Don’t worry”, says the fisherman, “There’s still plenty of fish out there.”

Dumbfounded, the businessman asks the fisherman why he didn’t continue catching more fish. The fisherman patiently explains that what he caught is all he needs. “I’ll spend the rest of the day playing with my family, talking with my friends and maybe drinking a little wine. After that I’ll relax on the beach.”

Now the rich businessman figures he needs to teach this peasant fisherman a thing or two. So he explains to him that he should stay out all day and catch more fish. Then he could save up the extra money he makes and buy and even bigger boats to catch even more fish. The he could keep reinvesting his profits in even more boats and hire many other fisherman to work for him. If he works really hard, in 20 or 30 years he’ll be a very rich man indeed.

The businessman feels pleased that he’s helped teach this simple fellow how to become rich. Then the fisherman looks at the businessman with a puzzled look on his face and asks what he’ll do after he becomes very rich.

The businessman responds quickly “You can spend time with your family, talk with your friends, and maybe drink a little wine. Or you could just relax on the beach.”

weezl74

SunnySusie wrote: »

About £20 or so, am I twice as productive? Doubt it. Besides, reminds me of this great story:

A few years ago, a very rich businessman decides to take a vacation to a small tropical island in the South Pacific. He has worked hard all his life and has decided that now is the time to enjoy the fruits of his labor. He is excited about visiting the island because he’s heard that there is incredible fishing there. He loved fishing as a young boy, but hasn’t gone in years because he has been so busy working to save for his retirement.

So on the first day, he has his breakfast and heads to the beach. It’s around 9:30 am. There he spots a fisherman coming in with a large bucket full of fish!

“How long did you fish for?” he asks. The fisherman looks at the businessman with a wide grin across his face and explains that the fishes for about three hours every day. The businessman then asks him why he returned so quickly.

“Don’t worry”, says the fisherman, “There’s still plenty of fish out there.”

Dumbfounded, the businessman asks the fisherman why he didn’t continue catching more fish. The fisherman patiently explains that what he caught is all he needs. “I’ll spend the rest of the day playing with my family, talking with my friends and maybe drinking a little wine. After that I’ll relax on the beach.”

Now the rich businessman figures he needs to teach this peasant fisherman a thing or two. So he explains to him that he should stay out all day and catch more fish. Then he could save up the extra money he makes and buy and even bigger boats to catch even more fish. The he could keep reinvesting his profits in even more boats and hire many other fisherman to work for him. If he works really hard, in 20 or 30 years he’ll be a very rich man indeed.

The businessman feels pleased that he’s helped teach this simple fellow how to become rich. Then the fisherman looks at the businessman with a puzzled look on his face and asks what he’ll do after he becomes very rich.

The businessman responds quickly “You can spend time with your family, talk with your friends, and maybe drink a little wine. Or you could just relax on the beach.”

susie I really like the story you've posted.

I guess it doesn't for me help with the reasons why I work as hard as I do.

I would be in the position of the businessman in your story for 2 main reasons:

I don't know that when I'm 50 I'm going to want to/be able to commute for 3 hrs a day and do a stressful job. I suspect I will need a slower pace.

If I work hard and invest in paying my mortgage off quicker, I will end up giving approx £100,000 less to a mortgage company than if I paid off at the normal rate (like someone would who was just fishing enough for each day).

I don't mean this post to sound critical, and I think you make a very valid point, but some things are better worked harder for in the here and now, I think

torikate

Well mine works out at 5pound an hour (this would be after tax as my hourly rate is between 5.50 and 8 pound an hour depending on time of day) as my hours differ week to week. Oh and the unpaid traveling time I do each week. Not bad for a carer I guess!! Defiantly not a job you can do for the money!!
Tori xXx

thumper1970

Mine is:

42015/52.116/35=£23.03 per hour