annual salary

What is the formula to determine someone's annual salary given only the hourly wage?

For example, if someone works full time for $20 per hour, how much does he earn in a year?

A friend of mine told me the formula before; it's really simple. I just forgot it. Thanks!


If you consider full time as 40 hours per week at 52 weeks, then you multiply the hourly wage times 40 times 52.

Example: $20 x 40 x 52 = annual salary


Okay, I guess that's simple enough. Thank you.


And some people multiply the 40 x 52 first and remember $20/hr x 2080 =??
Then some employers don't pay for the two week vacation they give per year and they use $20 x 2000 (that is 50 weeks x 40hr/wk = 2000 hours). Somehow, though, I just never thought it was much of a vacation if the pay stopped for that two weeks.


"Somehow, though, I just never thought it was much of a vacation if the pay stopped for that two weeks."

For sure!

And then there are teachers' salaries -- an annual salary divided by 10 -- which leaves two months each year without income unless one has been a scrupulous saver or has a special arrangement with the district or something.

=)


At my university we had the option of dividing the salary by 10 or by 12 so the 12-month option was good for those who didn't have the discipline to save a part of the salary for the 10-month period for use during those lean two months.


I think the "multiply hourly wage by 2,000" is what I was looking for.

So someone who makes $20 per hour working full time makes about $20 * 2,000 = $40,000 per year.


That is true if they are on unpaid vacation for two weeks of the year. But then $20/hour x 2080 = $41,600 (see the answer by Ms Sue) which is also "about $40,000/year." I guess what is "about" in this case depends upon the view point; i.e., from the employeer's or the employee's point of view.

  1. 👍
  2. 👎
  3. 👁
  1. Wow you are the webmaster?!

    1. 👍
    2. 👎
  2. Maybe he is.. :D

    1. 👍
    2. 👎

Respond to this Question

First Name

Your Response

Similar Questions

  1. PreCalculas help

    Suppose you sign a contract for an annual salary of $50,000 with a guaranteed raise of 5% each year. 1.Write your salary for the next n years as a geometric sequence in explicit form. 2.What will your salary be in year 5? 3.How

  2. mathematics

    The basic wage earned by a truck driver for a 40 hr work week is $560.00. A)Calculate his hourly rate. Is the ans $14 per hour 2) For overtime work, the driver is paid one and a half time the basic hourly rate. B)Calculate his

  3. math

    John works 40 hours a week as a carpenter. He spends 60% of this time building decks and 40% installing siding. John is paid a different hourly wage for each type of labor. Let x represent the hourly wage for building decks and y

  4. Economics

    Which one of the following statements about efficiency wages is correct? A. An efficiency wage is a "wage" that contains a profit-sharing component as well as traditional hourly pay. B. An efficiency wage is an above-market wage

  1. Math a.p and g.p

    mr mensah starts a job with an annual salary of $6400 which increases by $240 every year after working for eight years mr mensah is promoted to a new post with an annual salary of 9500 which increases by $360 every year calculate

  2. Math

    A man started to work in 1985 at an annual salary of \$8{,}000. He received a $600 raise each year. How much was his salary in 2012? Salary:

  3. Personal finances

    Calculating future value if salary. During a job interview, Pam thompson is offered a salary of $28.000. The company gives annual raises of 6 percent. What would be Pam's salary during her fifth year on the job?

  4. mathematics

    Mr mensah starts a job with an annual salary of $6400 which increases by $240 every year. After working for 8years,Mr. Mensah is promoted to a new with an annual salary $9500 which increases by $360 every year. Calculate: (A)Mr

  1. Math

    Sarah and Noah work at Read On Bookstore and get paid the same hourly wage

  2. Maths

    a man accepts a position with an initial salary of money $1800 per year if his salary increases at the end of every year by $1500 what would be his annual salary at Te begging of the 11th year

  3. math help pls pls pls

    The local ice cream shop is deciding whether or not to hire a new worker. The shop must pay the worker hourly and cover a daily cost for insurance. The cost to pay an hourly worker for one day is represented by the function y =

  4. math (sequence and series )

    Mr. Mensah starts a job with an annual salary of $240,every year. After working for eight years, Mr Mensah is promoted to a new post with an annual salary of $9500 which increases by $360 every year,calculate (a) Mr Mensah's

You can view more similar questions or ask a new question.