Often job notices advertise the monthly salary for a position rather than the hourly wage, making the salary seem quite attractive to job seekers. However, you might be more interested in the hourly wage to use as a comparison to your current job or other jobs you are applying to that pay on an hourly basis. By knowing the hourly wage, you will see which job really pays better and know where to focus your job search efforts.
Calculate the average number of weeks in a month. On average, there are 4.33 weeks in each month (52 weeks / 12 months = 4.33).
Calculate how many working hours in a month the job requires on average. Most salaried jobs are full-time, 40-hour-a-week jobs. A full-time job would average 173.20 hours (4.33 x 40 = 173.20) per month. This is an average over the year, as you will actually work a slightly different number of hours each month, depending on how many working days are in that month.
Divide the monthly salary by the number of hours worked in a month. For example, with a full-time position of 173.20 hours per month and a monthly salary of $5,000, you would earn $28.87 per hour ($5,000 / 173.20 = $28.87).
Things You Will Need
- To get your yearly salary, multiply the monthly salary by 12.