QUESTION: If you are offered a job and the annual salary they want to offer you is $37,000 and will be working 70 hours a week, what is the hourly rate they will be paying you. Also need the same for $38,000 and $39,000 also working 70 hours a week.
Also, if you might be working 60 hours a week, and they offer you $37,000, $38,000 or $39,000 what is the hourly rate for each of those annual salaries they may offer?
ANSWER: Cris Guillen,
based on what you have stated, there are 52 weeks in a year and you will work 70 hours in each of those weeks so 52 x 70 = 3650 hours per year.
37,000/3650 = $10.16
38,000/3650 = $10.44
39,000/3650 = $10.71
52 weeks x 60 hours per week = 3120 hours per year
37,000/3120 = $11.86
38,000/3120 = $12.18
39,000/3120 = $12.50
I have rounded the hourly rate to two decimal places.
The specific answer would depend on if 52 x 70 hours per week is in fact what you would work. Also, you said nothing about overtime being a factor or weekend work or any situation which where you would received a different rate per hour.
you can write an excel formula in say c1
---------- FOLLOW-UP ----------
QUESTION: When I multiply 52 weeks times 70 hours a week I come up with $3,640 not $3,650. Also, since it will be on salary, there is no overtime, however, there are two locations, Location 1 is on salary and Location 2 will be hourly so I want to make sure I will get paid the same hourly rate at Location 2 as I would at Location 1.
Actually, I did the calculations using 3640 (I used excel to calculate the hours). But when I typed the number of hours per year in the posting, I committed a typo. So the rates shown in the original posting were calculated using 3640 and are correct.
37,000/3640 = $10.16
38,000/3640 = $10.44
39,000/3640 = $10.71
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