What is formula to calculate monthly salary from hourly salary?

Answer 1

There is no direct formula, it depends how many hours you work per day, and the number of working days in the month.

Hourly salary * working hours in a day * number of working days in a month = Monthly salary

To get an average, take the number of days in a year and times by five sevenths (assuming a five day week) to get the number of work days in a year

Work days in a year = 365 * (5/7) = 261

Divide this by 12 to get average work days in a month:

Average work days in a month = 261 / 12 = 21.7

Multiply this by the number of hours worked per day to get the conversion from hourly rate to monthly rate. Assuming a 8 hour day:

Average working hours per month = 21.7 * 8 = 173.8

So for example, if you earned $10 an hour, your monthly salary would be on average

$1738, although the actual amount that month would depend on how the weekends fell.