Question 1

How do I convert salary to hourly?

Accepted Answer

Hourly rate = Annual salary ÷ (Hours per week × Weeks per year). For 40 hours/week, 52 weeks: ÷ 2,080.

Question 2

How many working hours are in a year?

Accepted Answer

Standard: 52 weeks × 40 hours = 2,080 hours. Less paid holidays (10-15 days typical) = approx 1,960-2,000 actual working hours.

Question 3

What is a day rate?

Accepted Answer

Day rate = Hourly rate × hours per day. For a $50,000 salary at 8 hours/day: $50,000 ÷ 2,080 = $24.04/hr × 8 = $192.31/day.

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