This can make it easier for you to budget and plan personal spending. If you are on a salary and frequently work more than 40 hours per week, you may want to calculate the actual amount that you're making per hour.
By knowing the number of hours you're working each year, you know how much free time you'll have and can better plan for other activities like hobbies, exercise, volunteering and personal development. Research shows that working for too many hours can actually lower productivity and that employees benefit from taking time away from work. By calculating the number of hours you work in a year, you can better evaluate your own work-related habits and think about whether you need to reduce hours, take vacation time or disconnect from your work more on the weekends.
Here are the basic steps you need to take to calculate the number of hours you work in a year. Start by determining the average number of hours that you work per week. You may also want to consider the number of hours you work in a day, especially if you work more hours some days than others. Add up all the hours you work each day of the week to find out how many hours you work each week, on average.
For example, you may work eight hours per day on Monday, Wednesday and Friday and six hours per day on Tuesdays and Thursdays, bringing you to an average of 36 hours per week.
If you work a standard eight hours per day, five days per week, you work 40 hours per week. Take the average number of hours you work in a week and multiply that number by 52 to determine the total number of hours you would work in a year if you didn't take any time away from work for vacations or holidays.
Next, calculate the total number of hours you spend out of the office each year on paid time off PTO. Depending on your company, all of your time off may be included under PTO or your organization may divide the time into sick time and vacation time. If you generally take all of your allotted sick and vacation time every year, you could calculate the total number of hours.
Otherwise, you may want to only include your vacation time and perhaps an estimate of the amount of time you spend out of the office on sick leave. For example: If you get three weeks every year of vacation time and also usually take all five days of available sick leave, you will multiply five by three to get the total number of vacation days, You can then add five additional days for the sick time, leaving you with 20 total days.
Next, multiply those days by the number of hours you generally work each day. For this example, let's say that you work eight hours per day, which is a total of hours of paid time off with both vacation time and sick leave. Next, count the number of paid holidays you receive from your employer.
For clarification, however, 1, is the total number of hours this part-time employee works during the year. For full-time employees, the annual number of hours is 2, — 52 weeks multiplied by 40 hours each week. The straight calculation of hourly pay to annual pay is, therefore 2, hours multiplied by the employee's hourly rate. Ruth Mayhew has been writing since the mids, and she has been an HR subject matter expert since Her work appears in "The Multi-Generational Workforce in the Health Care Industry," and she has been cited in numerous publications, including journals and textbooks that focus on human resources management practices.
Ruth resides in the nation's capital, Washington, D. By Ruth Mayhew Updated February 01, References U. Related Articles. The number of work hours in a year can be useful when figuring out an employee's yearly pay for a salary or to calculate salary into an hourly rate if schedules are changing.
To figure out an employee's yearly pay for a salary, just multiply the suggested hourly rate by the number of work hours in a year. Your business may choose to pay for vacation days or even holidays and if that is the case, you will need to use the number of hours in a year before subtracting vacation days or holidays.
To translate a person's salary into an hourly rate, simply divide the yearly salary by the number of work hours in a year. Again, remember to include any vacation or holiday hours that the employee is paid. It is up to the employer to choose whether to pay biweekly or semi-monthly, but however a paycheck is issued, employers will need to know the employee's per-hour rate to determine their pay in a given period.
A weekly paycheck for an employee that works 40 hours a week should be for 40 hours, for bi-weekly payments, the amount should cover 80 hours and for semi-monthly payments, the pay period should be Any unpaid holidays or vacation days should be deducted from the hours used in the pay period calculation.
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