Securing employment that can be the source of income you need to for survival and other investments is everyone’s objectives, most of them not caring about how much they will be making in a year as shown here! But it is good to have an idea of how much money you make in a single year and this information can be beneficial in more ways than you imagine. With a little information on the website and the tips discussed on this page, you can know how much you make in a year. Keep reading to learn how to find your annual income.
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. By figuring out the accurate amount you make every time you work for an hour, you are already halfway to figuring your annual income; you just have to factor in the number of hours you work in a week, and the total number of workweeks in one year, and you have the total amount in dollars that you make annually.
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. For someone who is working for the same number of weeks, calculating annual income is usually easy and straightforward, however, if you are working different hours each week, the trick is to do the calculations weekly to avoid being confused.
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.