Time Valuer / Resources / Glossary / Hourly rate
Hourly rate
Yearly income divided by the hours worked in a year. For a salary, 2,080 hours is the standard.
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What it means
An hourly rate makes a salary comparable to prices, contractor quotes and other jobs. A salaried role still has one; it just isn't printed on the payslip.
The standard year is 40 hours a week for 52 weeks, or 2,080 hours. If you work more than that, your real rate is lower. That's your effective hourly rate.
Example
| $150,000 ÷ 2,080 hours | $72.12 an hour |
| $250,000 goal ÷ 2,080 hours | $120.19 an hour |
In Time Valuer
Time Valuer converts salaries and hourly rates both ways, and lets you set your own working hours and schedule for each profile.
Related terms
Questions and answers
How do you work out an hourly rate from a salary?
Yearly income divided by the hours worked in a year. For a salary, 2,080 hours is the standard.
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