Salary calculator

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Hourly, monthly, annual income calculator

Hourly, monthly, annual income calculator

In our time, “salary” is a generally accepted and unambiguous concept, it is received by the majority of employees: both civil servants and private organizations that are on staff. Only a small proportion of performers, usually with unique and irreplaceable skills/knowledge, receive not wages, but one-time fees, the value of which is not fixed and is negotiated on an individual basis.

Salary

The principle of wages, that is, the payment of money for the work done, existed in one form or another even before our era. Only the types of rewards changed, for example, instead of money, employers could pay with valuable resources and other material benefits. So, in 550-450 BC, in the book of Ezra (סֵפֶר עֶזְרָא) one of the unusual (for our time) payment methods was described: table salt. Its production was completely controlled by the state, and subjects regularly received "salt from the royal court."

Sodium chloride has been one of the most valuable resources for many centuries, and the tradition of paying with salt was widespread in European countries, and mainly in Ancient Rome. Legionnaires were given table salt, the name of which in Latin is written as sal. From this arose the version that the word "soldier" (soldier) comes from the phrase "give salt" (sal dare). In each country, it was called in its own way, but consonant with the main Latin name: in France - salaire, in Spain - salario, and in Britain - salary.

Despite the fact that all legionnaires (as well as many civil servants) in ancient Rome were given table salt, weekly/monthly wages were not common. As a rule, the employee received remuneration on the same day - depending on the time and volume of work. The most common in Europe was hourly, daily and piecework wages, and - up to the XVIII-XIX centuries.

The industrial revolution changed the situation, when large corporations with thousands of employees began to appear. Their pay was standardized, and is still expressed as a wage, a fixed amount that a worker receives per week or per month. In the second half of the 20th century, bonuses, bonuses, allowances and benefits began to be added to the salary as incentives. This system is still being improved, and differs significantly in different private and public companies.

Interesting facts

  • The UN Goodwill Ambassadors have the smallest salary in the world. They volunteer for their professional duties and receive only $1 a year.
  • The President of Singapore currently earns the highest salary. According to unofficial data, he receives about SGD 1,500,000 a year.
  • If we talk about the highest average salary (among the population), then Norway occupies a leading position in the world. Here, the average monthly income is $5,000.
  • Demanding an increase in wages is not always a good idea. This was proved by Thomas Edison, who, in response to the demands of his workers, completely replaced their labor with the introduction of new technologies.
  • Henry Ford, the founder of the Ford Motor Company, doubled the wages of all employees on the 11th anniversary of his factory.
  • Famous Apple owner Steve Jobs was officially paid $1 a year in his position. But this did not stop him from receiving a bonus of $ 70,000,000 from the board of directors every year.
  • In Japan, an employee can expect a substantial salary increase if he can do his job while at home. The employer also benefits, who thus saves on equipping and renting office space.

In each country, wages are paid differently: in the form of a fixed amount, with bonuses, allowances, deductions, or without them. The frequency of payments is also different, if in the United States weekly wages are most common, then in the CIS countries it is customary to make payments once a month. But this can be compensated by a bonus system, when the salary is essentially paid 2 times a month: in the form of a bonus, and then in the form of the remaining salary.

How to calculate hourly rate from salary

How to calculate hourly rate from salary

When talking about salary, many people forget to take into account one very important point - how much time and work is spent on receiving a monthly cash payment. It's one thing to get $1,500 for 40-50 working hours a week, and quite another to get the same $1,500 for a free schedule that doesn't exceed 15-20 hours a week. Therefore, the only reliable way to determine real income is to calculate hourly wages.

How to calculate salary

To determine your hourly wage, it is enough to perform two arithmetic operations: divide the monthly salary by the number of working days, and divide the resulting number by the length of the working day (in hours). So, if you work 7 hours, 5 days a week (which is an average of 22 work days per month), and receive $5,000, then your hourly pay will be:

5000 ÷ 22 ÷ 7 = 32.46.

So you get paid $32.46 an hour, and that number determines how productive you are at work. If you take another type of employment (for example, from the IT sector), you can earn more while spending less time. With certain skills, 12,000 rubles are earned per month with the same five-day schedule (22 working days), but with a 5-hour working day. Accordingly, the hourly pay will be:

12000 ÷ 22 ÷ 5 = 109.09.

And if the monthly wage increases by 2.4 times, then the hourly wage will increase by 3.36 times - with a significant reduction in working hours. Using the same formula, you can calculate any other salary by setting how much it is in hourly equivalent.

How to get a salary increase

If the calculations performed did not satisfy you, and the hourly pay turned out to be too low, you should think about the prospect of increasing your monthly income. How to do it? Since the vast majority of workers are not “freelancers”, but hired specialists, the increase in wages directly depends on the employer. The employer can be influenced in the following ways:

  • Declare your desire to earn more. Paradoxically, this method is one of the most effective. Your boss will never revise your salary unless you push him to do so. Make your demand official and it will most likely be successful.
  • Indirectly hint at the need for a pay rise. If a direct demand is not an option, you can proceed differently. Let the authorities understand that you are in dire need of money: to pay loans, to support children. This method also works, but not always. In case of failure, on the contrary, it will lead to a tightening of the work schedule, as the employer will understand that you are “on the hook” with him.
  • Improve your skills. In many companies, employees working in similar positions receive salaries that differ by 25-75%. It all depends on the qualification, with the growth of which you become an indispensable worker. Being able to do a job at 100%, while others do it at 70-80%, you can count on a good salary increase.
  • Take responsibility. If you see ways to optimize and streamline your workflow, it's worth taking a moment to show your bosses that you can make the company's operations more efficient and profitable. You don’t need to show all the cards, but you need to prove that you are the right person who will cope with responsibility and optimize the process. Naturally - not for free, but with an increase in salary.
  • Involve competitors. One of the best ways to get a pay raise is to be a good specialist in demand in competing companies. One has only to hint to the authorities that in the next office they offer you a higher salary, and they will not let you quit, raising it while maintaining the same job.
  • Track career opportunities. Is a senior employee about to retire, join a competitor, or leave for health reasons? This is the perfect time to take his place. If other persons (from among relatives and acquaintances of the management) do not apply for it, and you are qualified, the chances of promotion are very high.

Of course, the listed methods are not universal, they do not always work, and they strongly depend on the type of activity. So, they are unlikely to be useful to watchmen, auxiliary workers or couriers, since these positions, in principle, do not provide for career growth. But for work in the office, at the enterprise, or in the IT field, they are suitable, and often give the desired effect.

The main thing is to understand for yourself that the current level of income does not suit you, and you are capable of more. At the same time, you need to start not from the monthly, but from the hourly payment, which today is easily calculated through online calculators: taking into account taxes and the number of working days in a month.