Useful Tips for Finding your Annual Income
The total amount of money you make or will make in a year is one of the last things on your mind because all you want is to find a job now! 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. For someone who has zero ideas regarding the money they make in a year, click this homepage. 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.
It can be a bit challenging calculating annual income if you are on different work schedules, however, it is possible if you keep a clean record of the number of hours you are working each it and calculating the total at the end of each week. Finding annual salary figure means adding all the money you earn while at work including the bonuses; if you are in a position where you earn incentive payments, commissions, and tips among others, they should all go into the calculation.
Something that most people consider daunting, tedious, and time-consuming does not always have to be so if you know how to go about it and arrive at an accurate figure. You can now join the long list of employees who have been calculating their annual incomes for years. Be sure to include the tips discussed above to come up with an accurate figure of your annual income.