Calculate my hourly rate of pay

chipmunk

MyRubyRed wrote: »

Sorry mate. It was obviously a stupid question

No need to apologise

chipmunk

Thanks for all the replies, but I'm a bit confused. Some say paid holidays don't count, others say they do: £7.69/hour or £8.62/hour?

Just need to know 'cos I'm currently looking for another job and want to know if the hourly rates advertised are more or less than what I currently earn.

Kate78

The holidays are included in your £14,000 pa/£7.69 per hour.

This is because it is calculated over 52 weeks, which will include the days when you are away on holiday.

Hope that makes sense

getmore4less

It is correct to NOT include holidays for the hourly rate for your current job and since you get the minimum that will be OK as the base line for other jobs.

What you need to do is check with the new jobs they are not quoting a rate that includes holiday pay, if it does then you need to divide by 1.1207 to compare to your current rate for a 5 day week with 28 days holiday

KiKi

chipmunk wrote: »

Thanks for all the replies, but I'm a bit confused. Some say paid holidays don't count, others say they do: £7.69/hour or £8.62/hour?

Just need to know 'cos I'm currently looking for another job and want to know if the hourly rates advertised are more or less than what I currently earn.

You want to compare like with like. So you use the the lower rate because paid holidays will be included in the rate offered by other companies, too.

GM4L: sorry, I don't understand what you're saying with your post! The rate of £7.69 includes paid holidays. She *should* use this for comparison because other jobs she's applying for will also include paid holidays. If she takes the higher rate then she will have to work out the hourly rate for the other job by taking out their holidays too, which is pointless!


HTH
KiKi

Any

chipmunk wrote: »

Thanks for all the replies, but I'm a bit confused. Some say paid holidays don't count, others say they do: £7.69/hour or £8.62/hour?

Just need to know 'cos I'm currently looking for another job and want to know if the hourly rates advertised are more or less than what I currently earn.

No, I think everyone is saying the same.
You get paid £14000 pa for 35 hrs a week.
The holidays are given by law and you must get them (for full time job), or more if written in a contract.

The holiday by law ARE PAID. So you theoreticaly get the lower rate per hour (and the holiday-time off which is paid).

The calculation given (14000/52weeks/35 hrs) is the calculation used by all payroll clerks in the UK and by everyone (at least if that is your contracted annual rate) ... So this is the official rate.


The other figure was given only because we thought that you are asking how much you really get paid for actual hours you spend at work... for some reason...

Not sure I made in any clearer?

FATBALLZ

Any wrote: »

The other figure was given only because we thought that you are asking how much you really get paid for actual hours you spend at work... for some reason...

Sometimes worth working out if you're considering moving jobs... I did recently and my new job has 6 days less holiday entitlement, so to accurately compare remuneration for time worked it may be a calculation worth doing...

Any

FATBALLZ wrote: »

Sometimes worth working out if you're considering moving jobs... I did recently and my new job has 6 days less holiday entitlement, so to accurately compare remuneration for time worked it may be a calculation worth doing...

Very true.. But given this current state I fear the OP is a bit confused..