How much is £8 an hour as a full time annual salary?

[Slo-mo]

I do realise it's not as simple as 8*37.5*52 because of the way holiday pay works.

But how do you work it out?

 

[Pickman's model]

it is £15,600 as holiday is paid

 

[dessiato]

It ought to be as simple as that as an annual salary doesn't vary for holiday periods. It should be an annual figure divided into pay periods. With this assumption the figures you quote make it £15600 pa

 

[kabbes]

I always multiply by 2000. It overstates it a bit, but it’s not a bad estimate and the maths is easy to do in your head!

Similarly, if I have an annual salary then dividing by 2000 to get the hourly equivalent is nice and easy.

 

[Puddy_Tat]

it also depends whether there's opportunity for / expectation of overtime, whether there's any enhanced rates, e.g for weekend work, any bonus scheme.

and what they mean by full time - can be 35 or 40 or more hours a week

 

[Slo-mo]

37.5 hours. Office based role so I'm assuming no overtime. That may be wrong but it's better to assume not.

 

[ffsear]

The Salary Calculator - Hourly Wage Tax Calculator

 

[Slo-mo]

The Salary Calculator - Hourly Wage Tax Calculator

Thanks. Seems it *was* as simple as 8*37.5*52 after all.

 

[chemn]

8*37.5?

 

[Puddy_Tat]

To be pedantic, there are 52.14 weeks in a year not 52

 

[Elpenor]

To be pedantic, there are 52.14 weeks in a year not 52

Being more pedantic still - Don’t forget the leap year - 52.167 weeks is used for the calculation of a lot of public sector pensions (e.g. police, railways)

 

[Puddy_Tat]

Being more pedantic still - Don’t forget the leap year - 52.167 weeks is used for the calculation of a lot of public sector pensions (e.g. police, railways)

that's quite impressive, both for being pedantic and for the bump



i think we used 52.14 when i worked in a housing benefits department some years ago and needed to convert anything in to a weekly amount (maybe it just wasn't a leap year when i was there).

it was more complicated when i did housing benefits somewhere in the midlands before that - they took council tenants' rent over 48 weeks of the year (you got 2 weeks off round xmas and round the traditional local holiday fortnight) but that had to be converted in to a rent per week as if it was 52 (or however many) weeks of the year...

 

[Maggot]

What a strange bump.

 

[Elpenor]

What a strange bump.

It needed to be clarified

 

[Elpenor]

I do find the different ways to calculate a weeks pay (which can be interpreted in various ways) and the various proration methods for a salary to be fascinating … rarely works as a chat up line though

 

[Epona]

I do find the different ways to calculate a weeks pay (which can be interpreted in various ways) and the various proration methods for a salary to be fascinating … rarely works as a chat up line though

Something that always irked me when I was on an annual salary was the fact that on leap years I worked an extra day for no pay (you always work an extra day, no-one says to you "oh here, take Monday off to use up the extra day this year" so I (and many others) made a deliberate point to have a sick day on leap years. Not even what is frequently referred to these days as a "mental health" day (for relaxation and unwinding), but a deliberate "No you are not getting a day of work from me for free, fuck you and the horse you rode in on " day

 

[Elpenor]

Something that always irked me when I was on an annual salary was the fact that on leap years I worked an extra day for no pay (you always work an extra day, no-one says to you "oh here, take Monday off to use up the extra day this year" so I (and many others) made a deliberate point to have a sick day on leap years. Not even what is frequently referred to these days as a "mental health" day (for relaxation and unwinding), but a deliberate "No you are not getting a day of work from me for free, fuck you and the horse you rode in on " day

I do get your point, but if paid an annual salary, you’re typically paid 1/12 of it each calendar month, and a month could be 20-23 working days if doing a typical M-F pattern anyway. This is why a daily rate is usually calculated off a 260 (or 365) basis e.g. 26000/260 = 100 so that a “days pay” remains the same.

But I agree there’s scope for an enlightened employer to do something positive with the leap year.

 

[maomao]

Leap years are one thing but when I worked night shifts I always seemed to cop the extra hour in autumn and not get the hour off in spring.

 

[Steel Icarus]

I get paid for 42 weeks but it's paid monthly over 12 months. No idea what that is per hour. Or year, tbf

 

[Elpenor]

I still have nightmares about doing school cleaners pay, and having to explain annualised hours to them (badly as I hadn’t got round the idea myself)