Calculate an Annual Salary from an Hourly Rate
Have you ever wondered how much your hourly rate would equate to in an annual salary? While it may not seem important, knowing your worth in annual salary gives you some bargaining leverage when looking for a full time job. Read on for a simple calculation that you can do in your head.
Instructions
1. Take your hourly rate and multiply it by two. Let's assume you make $25 per hour. You would multiply 25 by 2 to get 50.
2. Add three zeros to the figure you calculated in Step 1. For this example, the result would be 50,000. Based on an hourly rate of $25, the annual salary would be $50,000 (the actual number is $52,000 but we are in the same range for doing very simple mathematics without a calculator).
3. These calculations are based on an annual salary for a standard 40 hour work week. If you plan to work part-time, you would reduce the annual salary accordingly. For example, if you work 20 hours per week, and your hourly rate is $25, your converted annual salary for a 20 hour workweek would be $25,000.
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