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Figuring out my dollar per hour wage

P

PurdueRy

Lifer
Ok, so I got hired for an internship and they wrote up a contract yadadada for $XXXXX per year.

Because I am an intern, we do not get paid for holidays/vacation or benefits. We do, however, get paid on an hourly basis. So, if I wanted to find that hourly wage, would I divide by 260, the number of weekdays in the year or by that amount minus the vacation days(247 or so) and then divide by 8?

EDIT: The question here is whether I should include the holidays I don't get paid for in the calculation
 
I'd probably just divide it by 2000 (40 hour week x 50) for simplicity sake and figure that's close enough.
 
Originally posted by: PurdueRy
Ok, so I got hired for an internship and they wrote up a contract yadadada for $XXXXX per year.

Because I am an intern, we do not get paid for holidays/vacation or benefits. We do, however, get paid on an hourly basis. So, if I wanted to find that hourly wage, would I divide by 260, the number of weekdays in the year or by that amount minus the vacation days(247 or so)?
Click to expand...

What you've posted would only give you your daily wage, not hourly. You would have to divide $XXXXX by (the number of days you will work * the number of hours per day you will work). If this is a year long internship where you'll be working regular 8 hour days, a good estimate would be to divide by 2080.

-Tom
 
So you are salary but hourly? You get paid xxxx/year but also get paid on an hourly basis? I got lost somewhere in there.
 
Originally posted by: TwiceOver
So you are salary but hourly? You get paid xxxx/year but also get paid on an hourly basis? I got lost somewhere in there.
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correct. I am technically not salary. But in the contract they give you it specifies the rate per year.
 
Originally posted by: Soccer55
Originally posted by: PurdueRy
Ok, so I got hired for an internship and they wrote up a contract yadadada for $XXXXX per year.

Because I am an intern, we do not get paid for holidays/vacation or benefits. We do, however, get paid on an hourly basis. So, if I wanted to find that hourly wage, would I divide by 260, the number of weekdays in the year or by that amount minus the vacation days(247 or so)?
Click to expand...

What you've posted would only give you your daily wage, not hourly. You would have to divide $XXXXX by (the number of days you will work * the number of hours per day you will work). If this is a year long internship where you'll be working regular 8 hour days, a good estimate would be to divide by 2080.

-Tom
Click to expand...

thanks 🙂
 
Originally posted by: PurdueRy
Ok, so I got hired for an internship and they wrote up a contract yadadada for $XXXXX per year.

Because I am an intern, we do not get paid for holidays/vacation or benefits. We do, however, get paid on an hourly basis. So, if I wanted to find that hourly wage, would I divide by 260, the number of weekdays in the year or by that amount minus the vacation days(247 or so)?
Click to expand...

😕



 
Originally posted by: axelfox
Originally posted by: PurdueRy
Ok, so I got hired for an internship and they wrote up a contract yadadada for $XXXXX per year.

Because I am an intern, we do not get paid for holidays/vacation or benefits. We do, however, get paid on an hourly basis]/b]. So, if I wanted to find that hourly wage, would I divide by 260, the number of weekdays in the year or by that amount minus the vacation days(247 or so)?
Click to expand...


😕
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Yes, me too that's why I am asking. You want to see the contract or what lol?
 
Originally posted by: PurdueRy
Originally posted by: TwiceOver
So you are salary but hourly? You get paid xxxx/year but also get paid on an hourly basis? I got lost somewhere in there.
Click to expand...

correct. I am technically not salary. But in the contract they give you it specifies the rate per year.
Click to expand...

Since weeks are going to be different from one another (weeks with holidays, floating days, etc) are going to be different. I would just divide your yearly salary by the workable days to figure out your dollars/hr. That way you at least can figure out what you would make on a week minus a day (for a holiday or something).

I think... I've had a few, so I can't be sure myself.
 
Divide by 2080. The company I interned with (and am now fulltime, woohoo) did the same but gave me both the yearly salary and the hourly equivalent. Dividing by 2080 came within a few cents per hour.

(2080 = 52*5*8; you don't factor vacation in or anything because hopefully you get paid for it)
 
Originally posted by: KillerCharlie
Divide by 2080. The company I interned with (and am now fulltime, woohoo) did the same but gave me both the yearly salary and the hourly equivalent. Dividing by 2080 came within a few cents per hour.

(2080 = 52*5*8; you don't factor vacation in or anything because hopefully you get paid for it)
Click to expand...

I don't get paid for vacation, and that's why I don't know if I should subtract those days from the 260 then multiply by the 8 hours/day
 
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