Assuming a 40-hour workweek, the hourly rate is $500 divided by 40, or $12.50. Factoring in 30 percent for benefits, the total direct labor rate is 1.3 multiplied by $12.50, or $16.25 per hour.

Divide the annual salary figure by the hours worked. For instance, an employee who has a 35 hour work week, which is 1,820 for a year, and who makes $63,000, has an hourly wage of $34.62.

Spread the loveIntroduction Calculating an hourly rate is an essential skill for freelancers, consultants, and even regular employees. Understanding how to do so not only ensures you’re fairly ...

Learn a simple formula to determine your hourly rate as a consultant, based on your income goals, billable hours, overhead costs, and profit margin.

2. Calculate hourly rate: $60,000 (annual salary) / 2,080 (total hours per year) = $28.85 Your hourly rate would be $28.85 based on a $60,000 annual salary. Conclusion: Calculating your hourly rate ...

How Do I Calculate My Hourly Rate As A Consultant? As a new consultant, dividing your previous salary by 52 weeks and then dividing that number by 40 (the number of hours in a week) is the most ...

How to calculate hourly rate from salary We’d like to explain the math underlying the calculations in this section. First, let’s see how we calculate the hourly rate based on other wages. To make sure ...

Hourly Workers Check your pay rate. Say you make $20 per hour. Multiply your pay rate by the number of hours you worked in the pay period. In this example, you worked 70 hours over two weeks. $20 ...

If any part of a booking is charged at the night rate, the whole booking is charged at the night rate: Fri 1800 - 2100 will be charged at the night rate (3 x 42.93) Wed 0500 - 1000 will be charged at ...

Learn how to set your hourly rate as a facilitator based on four factors: expenses, income, value, and market. Find tools and tips to help you charge your worth.