Useful Payroll Conversions

Converting Salary to Hourly

(Based on employee working 40 hours per week)

Total number of hours in a year = 2080 (40 hours x 52 weeks)

WEEKLY – 52 times a year
Example 1: Divide salary by 40 hours
i.e. $200.00 ÷ 40 hours = $ 5.00 hour

Example 2: Annual Salary
$ 200.00 x 52 = $ 10, 400.00
$ 10, 400.00 ÷ 2080 = $ 5.00 hour

BI-WEEKLY – 26 times a year (Every other week)
Example 1: Divide salary by 80 hours
i.e. $ 400.00 ÷ 80 = $ 5.00 hour

Example 2: Annual Salary
$ 400.00 x 26 = $ 10, 400.00
$ 10, 400.00 ÷ 2080 = $ 5.00 hour

SEMI-MONTHLY – 24 times a year (Twice a month)
Example 1: Multiply 24 x semi-monthly rate
i.e. $ 500.00 x 24 = $ 12, 000.00 annual

Example 2: Divide annual by 2080 hours
i.e. $ 12, 000.00 ÷ 2080 = $ 5.76 hour

Minute Conversion Chart

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