|Unadjusted||Adjusted for Holidays & Vacation Days|
To build this calculator we assume that there are 52 weeks and 260 weekdays per year. The unadjusted results do not include holidays and vacation days.
Before talking about the formula, lets see what is salary?
Suppose that your hourly salary rate is $35. you work 8 hours each day and 5 days per week. So, you have 260 working days in a year(52 weeks multiplied by 5 working days a week). Now, you can calculate your unadjusted salary as:
As observed, the hourly rate is multiplied by the number of working days in a year and then by the number of hours in a working day. Now we can move to the calculation of adjusted salary.
In the above calculation, 25 is subtracted from 260, because we assume that you have 10 holidays and 15 paid vacation days a year.
These yearly computations are used to calculate all bi-weekly, semi-monthly, monthly, and quarterly values.