If you work on a salary or a commission, then your hourly wage varies based on how many hours you work during the week. It may be helpful to know your hourly rate as a salary comparison tool, for example, if you are looking at other jobs which pay on an hourly pay scale. If you do not know your hourly wage, then you can determine your wage using your last paycheck. There are two wages you can calculate: the wage your employer pays you, and your wage after taxes are taken out of your paycheck.
Find the time period your last paycheck covers. For example, paycheck for two weeks of work on a full-time schedule without overtime would cover 80 hours.
Find the gross pay and the net pay on the paycheck. Gross pay is wages before taxes are taken out, while net pay is income after taxes and benefits.
Divide the gross pay by the number of hours worked. For example, $1,200 divided by 80 hours equals a wage of $15 an hour.
Divide the net pay by the number of hours worked. Net pay of $1,000 divided by 80 hours equals an hourly wage of $12.50 after taxes.
Carter McBride started writing in 2007 with CMBA's IP section. He has written for Bureau of National Affairs, Inc and various websites. He received a CALI Award for The Actual Impact of MasterCard's Initial Public Offering in 2008. McBride is an attorney with a Juris Doctor from Case Western Reserve University and a Master of Science in accounting from the University of Connecticut.