How to Convert an Annual Salary to a Daily Rate

Many companies pay their employees an annual salary rather than a daily rate. However, when you are planning your weekly or monthly budget, you may benefit from calculating how much you make each day. You might also want to figure your daily rate if you want to compare the pay rate to another job that pays a daily rate rather than an annual salary. To do so, you need to first figure out how many days per year you work.

Add the number of weeks of work during the year plus the number of weeks of paid vacation you get each year. For example, if you work 50 weeks per year and have two weeks of paid vacation, your total working time would be 52 weeks.

Multiply the number of days per week you work by the number of weeks per year you work, including paid vacation time. Most jobs require you to work 52 weeks per year and five days per week so you would multiply 52 by 5 to find you work 260 days per year.

Divide your annual salary by the number of days per year you work to find the daily rate. For this example, if your annual salary equals $55,900, divide $55,900 by 260 to get $215 as your daily rate.