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What is the definition of hourly wage?
The term “hourly wage” describes a rate an employer agrees to pay a worker per hour worked, such as $12 per hour or $17.50 per hour. The “average” or “mean” is an estimated hourly rate calculated using the varying hourly rates of a group of workers in a specific occupation.
What is the definition of annual salary?
An annual salary is a monetary compensation that an employee receives in exchange for working for a year or a period roughly equivalent to a year. Wages are denominated in the local currency and do not include side benefits.
How do you use the salary to hourly pay conversion calculator?
Input your annual salary in the top field. Specify any bonus you expect to or did receive as a percentage of your annual salary. Select the average number of hours you work per week. Input the number of weeks of vacation included in your employment contract. Your annual compensation represented as an hourly pay rate will automatically be calculated for you.