Saturday, October 09, 2010

thesalaryconverter.com: How to... work out your pro rata salary

I have been meaning to write some "how to" articles for thesalaryconverter.com one of my many projects.

There are some things the converter can do if you knows one or two tricks.

How to ... calculate a pro-rata salary

We have all seen jobs advertise at £23,000 per year pro rata to 22 hours. Which is great but it doesn't tell you what your actual salary is going to be and you need to work out whether that means you are better or worse off compared to your current salary.

Example

Take the pro rata salary and type in your salary as "23,000" but leave the hours as 37. Press the magic button and you get the conversions. Remember the hourly rate which is £11.92.

Go back to the main page and type in "11.92" set the period to hourly and type in the actual hours of your job which is "22".

Press the magic button and you can see that your annual salary will be £13,673.

If you knew you were earning £14,000 for a full time job you would now know you would only be slightly worse off if you took the new part time job.

Easy when you know how.

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