Weekly pay to salary

prowla

Simples:

• Your monthly payslip should state your gross salary for the month (ie. the amount before deductions); simply multiiply that x12 and it will give your annual salary.
• Your payslip should then give deductions, for example Income Tax, NI, pension contributions, benefits in kind (it there are any), and perhaps others.
• What you will receive (to your bank) is the net amount after they are subtracted from the gross amount.

Matt_22

Thanks. I have been paid for 3 weeks as my pay period is 11th of March to the Sunday 31st of march it says on my payslip, we only work Monday to Friday
I started on Monday the 11th. I have divided the gross by 3 to my weekly pay. The times by 52.14. does that sound correct

Exodi

Matt_22 said:

Thanks. I have been paid for 3 weeks as my pay period is 11th of March to the Sunday 31st of march it says on my payslip, we only work Monday to Friday
I started on Monday the 11th. I have divided the gross by 3 to my weekly pay. The times by 52.14. does that sound correct

So I'm understanding this right, is your pay stated in your employment contract as an annual figure? And you want to work out if your weekly pay is correct by working backwards from this? As an aside, it is quite odd for a company that pays staff weekly to define their pay annually.

If so, as many others have said, divide your annual pay by (365/7). If you've worked 3 weeks then times this by 3 and compare to the gross pay stated on your pay slip.

E.g. pay of £20,000:   £20000 / (365/7) = £383.56 p/w or £1,150.68 for 3 weeks.

Savvy_Sue

Calculating part month payments can be a black art, and the only way to know how your employer does it is to ask them. Or wait for your April salary, x that by 12. 

penners324

Hardly any employers will use 52.14 weeks. 52 weeks or 260 working days in the standard calculation

Exodi

penners324 said:

Hardly any employers will use 52.14 weeks. 53 weeks or 260 working days in the standard calculation

Are you sure?

£20,000 / 53 = £377.36...

£377.36... * (365/7) = £19,676.55

I can't imagine many employees or tribunals being happy that a person contracted to earn £20,000 per year is actually being paid £19,676.55 because 'Maths'.

H_e_a_dache

Exodi said:

penners324 said:

Hardly any employers will use 52.14 weeks. 53 weeks or 260 working days in the standard calculation

Are you sure?

£20,000 / 53 = £377.36...

£377.36... * (365/7) = £19,676.55

I can't imagine many employees or tribunals being happy that a person contracted to earn £20,000 per year is actually being paid £19,676.55 because 'Maths'.

Hi, this is the position I'm currently in. I've bought this to the attention of our wages department but they're happy with just basing our salary on a 52 week year. Clearly I'm not too happy. 
I've been trying to find some kind of official method of how to work it out, but I've found nothing... 
I'm really not sure which way to turn now. 

H. 

MattMattMattUK

H_e_a_dache said:

Exodi said:

penners324 said:

Hardly any employers will use 52.14 weeks. 53 weeks or 260 working days in the standard calculation

Are you sure?

£20,000 / 53 = £377.36...

£377.36... * (365/7) = £19,676.55

I can't imagine many employees or tribunals being happy that a person contracted to earn £20,000 per year is actually being paid £19,676.55 because 'Maths'.

Hi, this is the position I'm currently in. I've bought this to the attention of our wages department but they're happy with just basing our salary on a 52 week year. Clearly I'm not too happy. 
I've been trying to find some kind of official method of how to work it out, but I've found nothing... 
I'm really not sure which way to turn now. 

H. 

It is a flawed premise because there are not 53 weeks in a year, there are either 52.14 (52.28 in a leap year), just because there can be 53 "weeks commencing" or "weeks beginning" in a year does not mean that there are 53 weeks in total. 

chrisbur

MattMattMattUK said:

H_e_a_dache said:

Exodi said:

penners324 said:

Hardly any employers will use 52.14 weeks. 53 weeks or 260 working days in the standard calculation

Are you sure?

£20,000 / 53 = £377.36...

£377.36... * (365/7) = £19,676.55

I can't imagine many employees or tribunals being happy that a person contracted to earn £20,000 per year is actually being paid £19,676.55 because 'Maths'.

Hi, this is the position I'm currently in. I've bought this to the attention of our wages department but they're happy with just basing our salary on a 52 week year. Clearly I'm not too happy. 
I've been trying to find some kind of official method of how to work it out, but I've found nothing... 
I'm really not sure which way to turn now. 

H. 

It is a flawed premise because there are not 53 weeks in a year, there are either 52.14 (52.28 in a leap year), just because there can be 53 "weeks commencing" or "weeks beginning" in a year does not mean that there are 53 weeks in total. 

The point is that for someone who is weekly paid they do get 53 paydays in a year sometimes. This occurs on average every 5.6 years (slightly rounded)
The average number of days in a year is 365.25 this accounts for the 4 yearly leap year but ignores the small adjustments that occur only every 100 years or more.
If we take as a simple example £100 a week and divide by 7 and multiply by 365.25 we get 5217.86 as an annual figure.
The extra 17.86 over the 5200 that a 52 week year would give, when multiplied by 5.6 gives  100.02 making up for the week 53 payment that a weekly paid employee gets.

H_e_a_dache

MattMattMattUK said:

H_e_a_dache said:

Exodi said:

penners324 said:

Hardly any employers will use 52.14 weeks. 53 weeks or 260 working days in the standard calculation

Are you sure?

£20,000 / 53 = £377.36...

£377.36... * (365/7) = £19,676.55

I can't imagine many employees or tribunals being happy that a person contracted to earn £20,000 per year is actually being paid £19,676.55 because 'Maths'.

Hi, this is the position I'm currently in. I've bought this to the attention of our wages department but they're happy with just basing our salary on a 52 week year. Clearly I'm not too happy. 
I've been trying to find some kind of official method of how to work it out, but I've found nothing... 
I'm really not sure which way to turn now. 

H. 

It is a flawed premise because there are not 53 weeks in a year, there are either 52.14 (52.28 in a leap year), just because there can be 53 "weeks commencing" or "weeks beginning" in a year does not mean that there are 53 weeks in total. 

Hi, I don't expect to be paid 53 weeks but I do expect to be paid the 52.14 weeks that I've worked... 

H.