How To Work Out Hourly Rate. In this example the employees hourly rate is 15. Convert Salary to Hourly.
To determine your annual salary take your hourly wage and multiply it by the number of paid hours you work per week and then by the number of paid weeks you work per year. Dont forget to download a copy of my hourly rate calculator to help you with these steps. There are other financial obligations you would need to cover as well such as superannuation 95 and other tax liabilities such as GST 10 income andor company tax.
This is also the easiest to manage which is why its so appealing for most people who are new to freelancing.
In a machine shop the machine hour rate is worked out at the beginning of a year on the basis of a 13-week period which is equal to three calendar months. In a machine shop the machine hour rate is worked out at the beginning of a year on the basis of a 13-week period which is equal to three calendar months. To get the hourly equivalent rate for the job divide 40000 by 2080 hours 2080 equals 40 hours per week times 52 weeks in a year. Hourly Rate Rs 250.
