To find salary from hourly wage, use these formulas:
Regular Weekly Pay = Hourly Wage x Hours Worked
Overtime Weekly Pay = Hourly Wage x 1.5 x Overtime Hours
Overtime Hours = The amount of hours worked above-and-beyond 40
hours. If you worked 55 hours in a week, your overtime hours would
Total Weekly Pay = Regular Weekly Pay + Overtime Weekly Pay
Total Salary = Weekly Pay x Work Weeks per Year
Example: If you earn $8.35 per hour, work 50 weeks a year, and
average 50 hours/week:
Regular Weekly Pay = 8.35 x 40 = $334
Overtime Weekly Pay = 8.35 x 1.5 x 10 = $125.25
Total Weekly Pay = $334 + $125.25 = $459.25
Total Salary = $459.25 x 50 = $22,962.50
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