14
March
2007
March
2007
What is your salary?
Ramit Sethi is great. He has a handy tool for freelancers or hourly workers:
To Figure out how much your hourly rate translates into per year, or how much you make per hour from your annual salary:
To find your annual salary, just take your hourly rate, double it, and add a thousand to the end. If you make $20/hour, you make approximately $40,000. If you make $30/hour, you make approximately $60,000/year.
This also works in reverse. To find your hourly rate, divide by two and drop the thousand. So $50,000/year becomes approximately $25/hour.
This is based on a general 40-hour workweek and doesn’t include taxes, but it’s a good general back-of-the-napkin trick.
