A lawyer out of law school can expect to make $US152,083 per year in the US. Assuming that lawyers work 40 hours per week and 52 weeks per year, what is the equivalent salary in Canadian dollars per hour?
To calculate the equivalent salary in Canadian dollars per hour, we need to perform a series of steps.
Step 1: Convert the annual salary from US dollars to Canadian dollars.
You can find the current exchange rate between the US dollar (USD) and the Canadian dollar (CAD) by searching online or using a currency conversion website. Let's assume the current exchange rate is 1 USD = 1.25 CAD.
$152,083 (annual salary in USD) * 1.25 (exchange rate) = $190,103.75 (annual salary in CAD)
Step 2: Calculate the number of hours worked in a year.
A lawyer typically works 40 hours per week and 52 weeks per year.
40 hours per week * 52 weeks per year = 2,080 hours per year
Step 3: Calculate the equivalent salary in Canadian dollars per hour.
Divide the annual salary in Canadian dollars by the number of hours worked in a year.
$190,103.75 (annual salary in CAD) / 2,080 hours per year = $91.30 (approximately)
Therefore, a lawyer out of law school can expect to make approximately $91.30 CAD per hour. Please note that this calculation is based on the assumptions provided and the current exchange rate, which can fluctuate over time.