Whether you're creating a personal budget, trying to predict your future income or planning ahead for tax day, calculating your part-time salary will be a necessary part of the process. While some full-time jobs earn the same salary regardless of the hours worked, most part-time jobs are paid on an hourly basis. So, if you know how many hours you'll work and the rate at which you're paid, you can calculate your part-time salary in just a few moments.
Determine how many hours you'll be working in your part-time position each week. If the number of hours you work changes from week to week, choose a number that represents the number of work hours a typical or average week would include.
Multiply the number of hours worked each week by your hourly pay rate to discover your weekly salary. For example, if you work 15 hours each week at a pay rate of $9.00 per hour, your weekly salary would be $135.00 (15 x 9.00 = 135.00).
Multiply your weekly salary figure by the number of weeks you'll work in a typical year. If you plan to take no vacation from your job, you should multiply your weekly salary by 52, for the 52 weeks in a year. If you plan to take two weeks off during the year, multiply your weekly salary by 50. The resulting figure represents your part-time salary for the year. For example, a person earning $150 per week who works 52 weeks in a year would earn $7,800 for the year (150 x 52 = 7800).
Remember that the total you determine is not likely to be your actual take-home pay. In most cases in which you are paid an hourly rate, your employer is required to deduct taxes before issuing a check.
- Remember that the total you determine is not likely to be your actual take-home pay. In most cases in which you are paid an hourly rate, your employer is required to deduct taxes before issuing a check.
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