Hourly to Annual Salary is the conversion of an employee’s hourly wage into an equivalent annual salary, typically based on a standard 40-hour workweek and 52 weeks per year.
- What is hourly to annual salary?
Answer: It is converting an hourly wage into an annual salary. - How is it calculated?
Answer: Multiply hourly rate by 40 hours/week and 52 weeks/year (e.g., $20 x 40 x 52 = $41,600). - What assumptions are made?
Answer: It assumes a 40-hour week and no unpaid time off. - Why is it useful?
Answer: It helps compare hourly and salaried roles. - What role does HR play?
Answer: HR uses it for payroll planning and job offers.
