Help work out how much I am paid an hour.

nubbz

I work 33.5 hours at £7 an hour.

33.5 * 7 = 234.50
- £11.73 (Admin fee)

Gross taxable income = 222.77 (Basic pay £198.78, Holiday Pay £23.99)
- £8.86 (NI)
-£8.25 (Tax)

Net salary = 205.66


How much am I being paid an hour? 10.77% of my money seems to be my holiday pay which I think comes out of my gross salary.

I was thinking if I do 198.78 / 33.5 = 5.93 so £5.93 an hour.
I have a feeling I am wrong though. What I am trying to work out is how much do I actually earn once I subtract the holiday pay as that is meant to be saved for holiday. Or to put it in other words. Other people earn accrue holiday hours/day yet I get mine each week and am expected to save it for when I take a holiday.
I would like to know how much I am actually on an hour minus the holiday pay as that is actually meant to be used for when I am on holiday.

I hope this makes sense.

scheming_gypsy

i'm guessing you're a contractor?

you're on £7 an hour. The holiday pay isn't really holiday pay but makes up part of your wage calculations. As you don't get paid holidays they include it in the breakdown to show that you're not losing out.

Carl31

scheming_gypsy wrote: »

i'm guessing you're a contractor?

you're on £7 an hour. The holiday pay isn't really holiday pay but makes up part of your wage calculations. As you don't get paid holidays they include it in the breakdown to show that you're not losing out.

I dont think thats right, contractors are usually paid a premium which is pro rated holiday entitlement, added to their hourly wage

OP, to find out your answer, you would need to know the normal working week hours, and what the companies annual holiday entitlement is

keyser666

Carl31 wrote: »

I dont think thats right, contractors are usually paid a premium which is pro rated holiday entitlement, added to their hourly wage

OP, to find out your answer, you would need to know the normal working week hours, and what the companies annual holiday entitlement is

Agreed, on another front, you are not supposed to take out holiday pay as gross anymore if you are a contractor iirc

scheming_gypsy

Carl31 wrote: »

I dont think thats right, contractors are usually paid a premium which is pro rated holiday entitlement, added to their hourly wage

OP, to find out your answer, you would need to know the normal working week hours, and what the companies annual holiday entitlement is

I'm on £16.16 an hour and my wage is worked out the same way - except it has employers NI and pension deducted as well.
the Admin fee and that they're adding the holiday pay onto basic pay made me think they were a contractor....
Although the pay is way too low at £7 an hour for a contractor rate as there's not enough difference between that and minimum wage for it to incorporate the rest.

harmony10

Sounds like you work through an agency. The 23.99 holiday pay is 12.07% of your basic wage of £198.78. This is your statutory entitlement to holiday pay so shouldn't be included in your hourly rate. Therefore your hourly rate is probably 198.78 + admin fee of 11.73 divided by 33.5. I work this out to be 6.28 per hour

nubbz

harmony10 wrote: »

Sounds like you work through an agency. The 23.99 holiday pay is 12.07% of your basic wage of £198.78. This is your statutory entitlement to holiday pay so shouldn't be included in your hourly rate.

Thank you.
It was quite sure that holiday pay shouldn't be included in my hourly rate.