Calculate Your Annual Salary when You Work Part Time
In this day and age, many people are working part time. Some have two or more part time jobs. So, at times you will need to figure out what your annual salary is.
- First, pull up your basic calculator on your phone.
- Second, multiply the hourly rate by the number of hours you are working in one week.
- Third, multiply the product you have by 4. This is because there are 4 weeks in one month.
- Finally, multiply that product by 12. This will show you how much you are earning in a year, which is your annual salary.
- Here is an example: say you are working part time and are paid $16.00 per hour. Each week you are working 22 hours. So, you will multiply 16.00 X 22 which equals 352. So, each week you are earning $352.00. So, to determine how much you are making annually, you first multiply $352. 00 times 4 which is $1408.00. This is how much you are making per month. Last, you multiply $1408.00 times 12 (12 months in one year). This is how much you are making per year or annually, which comes to $16,896.00.
Therefore, the best way to determine how much you make annually if you are working part time is to multiply your hourly rate times your total hours worked per week. If you are working the same amount of hours per week you can then multiply that by 4 (i.e. 4 weeks per month) which will tell you how much you are making monthly. Then, multiply that amount by 12 to determine your annual salary. Additionally, if you have more than one part time job, just complete the calculations per part time job. Add the annual sum per part time job to determine the total you have made annually with all of the jobs you have.
- Be sure and use a decimal point for the amount of money you are being paid per hour prior to multiplying it times the number of hours you are working per week.