All everyone wants to do after college is to find a job that can help them meet their daily needs and support their loved ones as highlighted on this website, without knowing how much they may be making annually. 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. If you are among the millions of people who are oblivious to the money they make in a year, this site is here to help you. Keep reading to learn how to find your annual income. Be more curious about the information that we will give, view here for more.
You cannot find out your annual income if you don’t know how much money you are making in an hourly; your hourly rate, which is usually listed on the paystub is the first piece of information you need. Calculating annual income is usually easier than you think provided you have an accurate hourly wage; first you have to know how much you make in a week by multiplying the wage by the number of working hours, then by a number that represents workweeks in a year which is usually fifty-two.
To have an accurate estimate of your annual income, do not forget your overtime work; since you pay is more than an ordinary employee by about half, you must factor this in to find an accurate figure of the annual income. Another factor that will determine your total annual income is the number of hours you in a work for those that work different hours each week; if you work for twenty hours on some weeks and thirty or more on others, you have to make the calculations differently and keep track of each for the entire year. To understand more just click here for more.
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. Make a list of all your income sources and be sure to include everything; the total amount you make from tips, commissions, are a part of the money you make annually and should be included.
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. It is no longer someone else responsibility to figure out how much you make in a year especially if you know how to go about the calculations. You can find out your annual income with the help of these tips.