How do I calculate my weekly pay from hourly rate?+
Weekly Pay = Hourly Rate × Hours per Day × Days per Week. For example, $50/hour × 8 hours × 5 days = $2,000/week. Add overtime separately: OT Hours × Hourly Rate × Overtime Multiplier (usually 1.5x).
What is the standard overtime multiplier?+
Most countries use 1.5x (time and a half) for standard overtime. Some jurisdictions require 2x (double time) for weekends or holidays. In India, the Factories Act mandates 2x for overtime. Always check your local labor laws.
How do I convert hourly rate to annual salary?+
Annual Salary = Hourly Rate × Hours per Day × Days per Week × 52 weeks. For example, $50/hour × 8 × 5 × 52 = $104,000/year. This assumes no unpaid leave. For monthly: multiply weekly by 4.33.
Should freelancers charge more per hour than employees?+
Yes. Freelancers should typically charge 30-50% more than equivalent employee rates to cover: self-employment tax, health insurance, no paid leave, equipment costs, and business expenses. A $50/hour employee equivalent should charge $65-75/hour as a freelancer.