What Excel formula converts hourly wage to annual salary

  • Thread starter Thread starter Entre Nous
  • Start date Start date
E

Entre Nous

I need help creating a simple formula that converts an hourly wage to an
annual salary.
 
Think there's no such single function. You need to DIY. How would you
calculate it by hand? Explain it fully, step by step. This increases your
chances of getting help with the formula.
 
Entre Nous said:
I need help creating a simple formula that converts an hourly wage to an
annual salary.
Click to expand...

You need to calculate the number of hours worked in a year and then multiply
that by the hourly rate.
 
Salut Entre Nous
Maybe this can help ??!!
Hourly rate : $15,00 multiply by hours work in one week (40) multiply by 52
weeks in a year, if paid for full year.
Regards
John
 
John;3740188 said:
Salut Entre Nous
Maybe this can help ??!!
Hourly rate : $15,00 multiply by hours work in one week (40) multiply b
52
weeks in a year, if paid for full year.
Regards
John
"Entre Nous" Entre (e-mail address removed) wrote in message
I need help creating a simple formula that converts an hourly wage t
an
annual salary. -
Click to expand...

Hourly to annual is a bit subjective and really aren't the same eve
after calculation. You may want to consider some formula option
depending on your intent:
1) Vacation weeks are not paid but may be a percentage of total
2) Statuatory holidays
3) Overtime and it's rate if applicable
4) Any other applicable benefits and burden such as sick days

Generally, 1800 hrs/yr is a reasonable average and what we use for
general equivilent.

zx
 
Entre Nous,
You will have to make a few assumptions:
1. full-time is equal to 40 hours per week
2. there are 52 weeks in a year

Once you have done that, it is simply hourly rate times 40 hours times 52
weeks.
"=(A1 *2080)", if cell A1 has hourly rate in it (2080 is 40 times 52).
hth
 
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