A Simple Guide on How to Find your Annual Income
All everyone wants to do after college is to find a job that can help them meet their daily needs and support their loved ones as highlighted on this website, without knowing how much they may be making annually. If you don’t have an idea of how much you are making in a year, you are not the only one, but it is time to change that now. For someone who has zero ideas regarding the money they make in a year, click this homepage. For tips on how to find your annual income, view here.
The first tip to calculating your annual income is knowing how much you make per hour, information that can also be obtained from your paystubs where it is usually listed. Once you have obtained this information from your paystub or the human resource department, you can then determine your annual employment income; multiple by your hourly wage by the number of hours you work in a week, and then by fifty-two the number of weeks in a year.
For someone who works overtime, the calculation of the annual income is a bit different because you have to factor in the additional payment; your payment is usually one and a half times or double on holidays. Another factor that will determine your total annual income is the number of hours you in a work for those that work different hours each week; if you work for twenty hours on some weeks and thirty or more on others, you have to make the calculations differently and keep track of each for the entire year.
The easiest way to do this is to write down the number of hours you work each week, get the total and use that number to find your income for that week. Another tip to coming up with a accurate figure when calculating annual income is including the extras; things like bonuses, tips, and commissions you get while at work should be included in the calculations
As you can see from this guide, all you need is accurate figures that you have to put together to know how much you make in a year, and it is especially easily if you are paid by the hour and you have impeccable record keeping skills. You can now join the long list of employees who have been calculating their annual incomes for years. In summation, this guide highlights everything you need to know about calculating your annual income.