How do I work out my annual salary?

geek84

Hi Folks

I have recently started a temporary job, so to work out my weekly wage, I obviously multiply my hourly rate by the number of hours that I have worked during that week.

However, to work out the annual salary, do I multiplyt the weekly wage by 48 or 52 weeks?

Thanks

clarryd

To work out annual and monthly wage. ( / is divide )

Annual: weekly wage x 52 (52 = number of weeks in year)

Monthly: annual / 12 (12 = number of months in year)

Gave you a basic way of working it out, hope this helps.

geek84

Hi clarryd

Many thanks for your reply.

I take it that you definitely multiply by 52 weeks and not 48?

marlasinger

We use 52.179 weeks to account for leap years.

liney

geek84 wrote: »

Hi clarryd

Many thanks for your reply.

I take it that you definitely multiply by 52 weeks and not 48?

Yes, because those 20 days you are querying that you do not work are paid holiday, so count in the figures.

notanewuser

The OP is allegedly a qualified accountant.

Scary.