How to Calculate Hourly Rate From a Semi Monthly Pay Period
Multiply an employee’s semi-monthly salary by two to find the employee’s monthly salary. Then multiply the employee’s monthly salary by 12 to find the annual salary. For example, if an employee’s semi-monthly salary is $4,000, multiply $4,000 x 2 = $8,000 (monthly salary), and multiply $8,000 * 12 = $96,000 (annual salary).
Multiply the number of hours the employee works in a regular week by 52 (the number of weeks in a year) to find the number of hours an employee works in a year. For example, if an employee’s regular work week is 40 hours, multiply 40 x 52 = 2,080 hours.
Divide the annual salary by the annual hours to find the hourly wages. Using the same example, divide 96,000 / 2,080 = 46.15 this is the employee’s hourly rate.
Paycheck Calculator FAQs
How do I calculate the hourly rate?
First, determine the total number of hours worked by multiplying the hours per week by the number of weeks in a year (52). Next, divide this number by the annual salary. For example, if an employee has a salary of $50,000 and works 40 hours per week, the hourly rate is $50,000/2,080 (40 x 52) = $24.04.
How do I calculate taxes from paycheck?
Calculate the sum of all assessed taxes, including Social Security, Medicare, and federal and state withholding information found on a W-4. Divide this number by the gross pay to determine the percentage of taxes taken out of a paycheck.
How do I calculate salary to hourly wage?
Multiply the hourly wage by the number of hours worked per week. Then, multiply that number by the total number of weeks in a year (52). For example, if an employee makes $25 per hour and works 40 hours per week, the annual salary is 25 x 40 x 52 = $52,000.