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What Excel formula converts hourly wage to annual salary



 
 
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  #1  
Old June 1st, 2010, 09:24 PM posted to microsoft.public.excel.newusers
Entre Nous
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Posts: 1
Default What Excel formula converts hourly wage to annual salary

I need help creating a simple formula that converts an hourly wage to an
annual salary.
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  #2  
Old June 1st, 2010, 09:44 PM posted to microsoft.public.excel.newusers
Max
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Posts: 8,574
Default What Excel formula converts hourly wage to annual salary

Think there's no such single function. You need to DIY. How would you
calculate it by hand? Explain it fully, step by step. This increases your
chances of getting help with the formula.
--
Max
Singapore
---
"Entre Nous" wrote:
I need help creating a simple formula that converts an hourly wage to an
annual salary.

  #3  
Old June 1st, 2010, 10:43 PM posted to microsoft.public.excel.newusers
Gordon[_15_]
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Posts: 218
Default What Excel formula converts hourly wage to annual salary


"Entre Nous" Entre wrote in message
...
I need help creating a simple formula that converts an hourly wage to an
annual salary.


You need to calculate the number of hours worked in a year and then multiply
that by the hourly rate.

  #4  
Old June 1st, 2010, 11:14 PM posted to microsoft.public.excel.newusers
John
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Posts: 563
Default What Excel formula converts hourly wage to annual salary

Salut Entre Nous
Maybe this can help ??!!
Hourly rate : $15,00 multiply by hours work in one week (40) multiply by 52
weeks in a year, if paid for full year.
Regards
John
"Entre Nous" Entre wrote in message
...
I need help creating a simple formula that converts an hourly wage to an
annual salary.


  #5  
Old June 2nd, 2010, 03:27 PM
zxc zxc is offline
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First recorded activity by OfficeFrustration: Feb 2008
Location: Alberta
Posts: 7
Default

Quote:
Originally Posted by John View Post
Salut Entre Nous
Maybe this can help ??!!
Hourly rate : $15,00 multiply by hours work in one week (40) multiply by 52
weeks in a year, if paid for full year.
Regards
John
"Entre Nous" Entre wrote in message
...
I need help creating a simple formula that converts an hourly wage to an
annual salary.
Hourly to annual is a bit subjective and really aren't the same even after calculation. You may want to consider some formula options depending on your intent:
1) Vacation weeks are not paid but may be a percentage of total
2) Statuatory holidays
3) Overtime and it's rate if applicable
4) Any other applicable benefits and burden such as sick days

Generally, 1800 hrs/yr is a reasonable average and what we use for a general equivilent.

zxc
  #6  
Old June 4th, 2010, 05:03 PM posted to microsoft.public.excel.newusers
FloMM2
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Posts: 189
Default What Excel formula converts hourly wage to annual salary

Entre Nous,
You will have to make a few assumptions:
1. full-time is equal to 40 hours per week
2. there are 52 weeks in a year

Once you have done that, it is simply hourly rate times 40 hours times 52
weeks.
"=(A1 *2080)", if cell A1 has hourly rate in it (2080 is 40 times 52).
hth
"Entre Nous" wrote:

I need help creating a simple formula that converts an hourly wage to an
annual salary.

 




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