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Pay Rate Calculator
Depending on the information you provide, the Pay Rate Calculator computes different information:
- Enter your annual salary to calculate your bi-weekly gross
- Enter your bi-weekly gross to calculate your annual salary
- Calculate hourly and premium rates that could apply if you are paid overtime
If you are paid on an hourly or daily basis, the annual salary calculation does not apply to you. Your bi-weekly pay is calculated by multiplying your daily or hourly rate times the number of days or hours you are paid.
How Leap Year Changes your Bi-Weekly Gross
In leap years, the calculation of your bi-weekly gross is based on 366 days instead of regular 365 days. Your annual salary remains the same whether it is a leap year or not. Your bi-weekly gross changes slightly in the first pay period of a leap year and in the first pay period after the end of a leap year, due to the one day difference.
Keep in mind:
- The City's payroll system is based on the fiscal year covering the period July 1 through June 30
- Fiscal Year 2023 beginning July 1, 2022, is not a leap year
- The current calculator is not set for a leap year
Calculating Bi-Weekly Gross Using Annual Salary
- 365 days in a year* (*please use 366 for leap years)
- 14 days in a bi-weekly pay period
- Formula: Bi-Weekly Gross = Annual Salary / 365 days X 14 days
- Example: if your annual salary is $50,000, your Bi-Weekly Gross = $50,000 / 365 days X 14 days = $1,917.81
Calculating Annual Salary Using Bi-Weekly Gross
- 14 days in a bi-weekly pay period
- 365 days in the year* (*please use 366 for leap years)
- Formula: Annual Salary = Bi-Weekly Gross / 14 days X 365 days
- Example: if your bi-weekly gross is $1,917.81, your Annual Salary = $1,917.81 / 14 days X 365 days = $50,000
Calculating Hourly Rate Using Annual Salary
Regular Hours per Year = Regular Hours per Day X 261 Work Days per Year:
| Hours/Week | Hours/Day | Work Days/Year | Hours/Year |
|---|---|---|---|
| 35 | 7 | 261 | 1,827 |
| 37.5 | 7.5 | 261 | 1,957 |
| 40 | 8 | 261 | 2,088 |
Formula: Hourly Rate = Bi-Weekly Gross / (Hours/Year)
Example: if your Annual Salary is $50,000 and you work 40 Hours/Week (or 2,088 Hours/Year), your Hourly Rate = $50,000 / 2,088 = $23.95
Calculating Premium Rates
For premium rate Time and One-Half, multiply your hourly rate by 1.5. For instance, for Hourly Rate $26.00, the Premium Rate at Time and One-Half = $26.00 X 1.5 = $39.00
For premium rate Double Time, multiply your hourly rate by 2. For instance, for Hourly Rate $26.00, the Premium Rate at Double Time = $26.00 X 2 = $52.00
Please note: The Pay Rate Calculator is not a substitute for pay calculations in the Payroll Management System. In the event of a conflict between the information from the Pay Rate Calculator and the Payroll Management System, calculations from the Payroll Management System prevail.