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Post: Calculating Your True Hourly WageThis forum post is dated 08/13/10. If you feel it is old or outdated, please follow up with a question or comment and someone may be able to update it, or reply with newer information if you have it. - Commuting
| Post: Calculating Your True Hourly Wage Recently I decided to calculate my true hourly wage. This is an eye opening activity for anyone who receives a pay check. Once you calculate your true wage, try figuring out what various items cost you in hours worked. When you start realizing that those new jeans cost you 12 hours of pay, you being to rethink the purchase. So now you probably want to know how exactly you calculate your true hourly wage. Basically, you take your annual salary less all work related expenses and divide by the number of hours you work in a year. Be sure to include time for commuting to and from work and for all work related activities during your ?off? time. And don?t forget to add in the value of employer provided benefits (401k matching, health insurance, etc). You can see a more detailed explanation over at The Simple Dollar.
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