What does hourly to salary mean?
Hourly to salary is a conversion that determines how much an employee's salary would be if they were paid on an hourly basis. To figure this out, multiply the number of hours an employee works in a year by their hourly wage. For example, if an individual works 2,080 hours per year (the average amount of hours most salaried employees work in a year based on a 40-hour workweek) and is paid $25 per hour, their annual income is $52,000.
How do you calculate hourly to salary?
To convert hourly to salary wages, simply multiply the number of hours worked per week (for example, 40) by the hourly wage (for example, $16/hr). Then divide that figure by 52 (the number of weeks in a year).
$16 x 40 x 52 = $33,280
In this scenario, the annual compensation is $33,280.