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If you work 40 hours per week — or an 8-hour day, five days a week — and earn $65,000 annually, you’re working a total of 2,080 hours during a 52-week calendar year. ... $31.25 hourly wage x ...
[13] The FLSA does, however, define the eight-hour day and thus sets the maximum workweek at 40 hours, [14] but provides that employees working beyond 40 hours a week receive additional overtime bonus salaries. [15] However, in practice, only 42% of employees work 40-hour weeks. The average workweek for full-time employees is 47 hours. [16]
Suppose you work 45 hours in a week, and your hourly rate is $10 per hour. You’ll get $10 per hour for the first 40 hours, or $400 total. For the remaining 5 hours, you get time and a half ...
Secretary of Labor Elizabeth Dole supported increasing the minimum wage to $4.25 per hour along with allowing a minimum wage of $3.35 an hour for new employees' first ninety days of employment for an employer. [51] Secretary Dole said that President George H. W. Bush would veto any bill increasing the minimum wage to more than $4.25 per hour. [52]
A general rule for comparing periodic salaries to hourly wages is based on a standard 40-hour work week with 50 weeks per year (minus two weeks for vacation). (Example: $40,000/year periodic salary divided by 50 weeks equals $800/week. Divide $800/week by 40 standard hours equals $20/hour).
According to the National Low Income Housing Coalition, someone making minimum wage in Florida needs to work nearly 100 hours a week to afford rent.
For example, a full week of 40 hours has an FTE value of 1.0, so a person working 20 hours would have an FTE value of 0.5. Certain industries may adopt 35 hours, depending on the company, its location and the nature of work. Whole-time equivalent (WTE) is the same as FTE and applies also to students in education. [7]
Learn how much you make per hour with a $40,000 salary. Find out how this breaks down weekly/monthly, taxes and tips for budgeting your salary better.