how to calculate your hourly wage?

[mozirry]

I hate being paid hourly

My boss just gave me a raise to $32,000.00 finally and instead of getting paid $1,333.33 twice a month, I'm being paid $1,230.00 twice a month because I'm hourly.

(32,000 / 12) / 2 = $1,333.33 (32,000.00 salary)
(32,000/26) = $1,230.00 ($15.375 per hour)

I realize that in the end, I work each day and the total amount of hours worked each year will total up to $32,000.00, but I can't stand how my paycheck is lower just because I'm hourly.

I mean, can they really tell me I have a yearly salary of $32,000.00 when I'm really only going to bring home 12 paychecks $1,230.00 each for a total of $29,520.00?

 

[wanderer27]

Actually it should be 32,000/2080 (normal work hours in a year) ~ 15.3846...

Did you change your Deductions or any other benefits?

Oh, I see, it looks like before you were getting paid twice a month 32,000/24 ~ 1333.33....

Getting paid every two weeks you'll actually have two or three months where you get three paychecks.

 

[liquid51]

Work a couple over time shifts and then complain about not being salary

I'm assuming you were paid twice in a month when salary (maybe one check on the 15th and another on the 28-30th), and now you're being paid biweekly. You'll get two extra checks at the hourly rate, 26 instead of 24.

Btw, I don't think that this qualifies as highly technical.

 

[mozirry]

cool

Maybe its not as bad as it looks then!

Yeah, I pulled in $5,000.00 in overtime last year when my hourly wage was $11.53 per hour =)

They gave me a short raise a while ago to $12.09 per hour, and now that I got promoted its going to bump me up to around $15.00 per hour.

I bet I could pull in $8,000.00 easy just by coming in 30 min early and working through my lunch =)

 

[Lord Banshee]

Wow your company must not care too much about paying you guys.

everyj ob I've worked there had to be many approvals before OT was even considered lol

 

[wanderer27]

Yeah, I hear you, when I was making $28-30k hourly I usually brought home about $45k.

Overtime's nice in that case, but on Salary it's a whole different story.

 

[CycloWizard]

Originally posted by: wanderer27
Yeah, I hear you, when I was making $28-30k hourly I usually brought home about $45k.

Overtime's nice in that case, but on Salary it's a whole different story.

You made $28-30k hourly and only brought home $45k a year? That's a helluva bar tab.

Let's see... $18,200/2,080=$8.75/hour. Not bad for having only a masters degree in engineering. Of course, I actually work way more than 40 hours a week.

 

[ACruzer]

Is that all time and a half? I'm eligble for OT, but its straight time, no time and a half :-(

 

[MommaD47]

1. Sally worked 48 hours this week. Her overtime rate is 1.5 times the regular rate. When calculating gross pay with overtime, there are two options:
? (total regular hours X hourly rate) + (overtime hours X overtime rate) = gross pay, OR
? (total number of hours worked X the hourly rate) + (hours over 40 X 0.5 the hourly rate)
Most businesses prefer to use the first method to calculate gross pay. Discuss the reasons for this preference,
I am studying in an online university and this question is part of my assignment for business Math. We are supposed to ask someone in H.R. to tell us which method they prefer and why, but I have Lupus and am disabled. That's why I go to school online. Can you or someone in the forum give me their opinion based on their experience in payroll so I can complete my assignment. I would really appreciate the help. Thanks!

 

[Cattlegod]

Originally posted by: MommaD47
1. Sally worked 48 hours this week. Her overtime rate is 1.5 times the regular rate. When calculating gross pay with overtime, there are two options:
? (total regular hours X hourly rate) + (overtime hours X overtime rate) = gross pay, OR
? (total number of hours worked X the hourly rate) + (hours over 40 X 0.5 the hourly rate)
Most businesses prefer to use the first method to calculate gross pay. Discuss the reasons for this preference,
I am studying in an online university and this question is part of my assignment for business Math. We are supposed to ask someone in H.R. to tell us which method they prefer and why, but I have Lupus and am disabled. That's why I go to school online. Can you or someone in the forum give me their opinion based on their experience in payroll so I can complete my assignment. I would really appreciate the help. Thanks!

lmao, I'd like to know who actually posted this

 

[Kreon]

I got paid on a salary over the summer at a camp

I made (broken down to hourly wage) about $2.25 an hour

I've never complained about my hourly wage since that