Salary Conversion Formulae
The following calculations are used to determine hourly, daily and weekly rates of pay from annual salary.
To obtain a daily rate of pay from an annual salary, divide the salary by 260.893
eg, daily rate for an annual salary of $29,332:
$29,332 / 260.893 = $112.43
To obtain a weekly salary from an annual salary, divide by 52.1786
eg, weekly rate for an annual salary of $29,332:
$29,332 / 52.1786 = $562.15
The weekly rate is divided by the full-time hours of the position (35 hours for all staff except maintenance, landscape, mailroom, stores and cleaning, who work 38 hours each week). This calculation is used regardless of whether the position is part-time or full-time.
eg. weekly rate of $562.15 / 35 hours = $16.06
ie. Even if the employee is to only work part-time, they will still be paid at a rate of $16.06 per hour.
To obtain the amounts to be paid to part-time staff, multiply the hourly rate by the hours to be worked.
eg. If an employee works 21 hours per week and the hourly rate is $16.06, then their weekly rate is:
$16.06 x 21 = $337.26