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From Financial Integrity

Calculating hourly wage with multiple jobs

If you have more than one job, you can compute a weighted average for use in the next step (Step 3) of the program. To do this:

1. Complete a separate real hourly wage form for each job.
2. Fill in Part 1 below, listing each job separately with its "Real Hourly Wage" and "Hours Per Week."
3. At the bottom of Part 1 enter the totals for the "Avg Hrs Worked/Wk" and the "$ Earned/Wk."
4. In Part 2, divide your "Total $ Earned/Wk" (A) by your "Total Avg Hrs Worked/Wk" (B) to find your "Weighted Avg Real Hourly Wage."

Part 1

Job 1
Real Hourly Wage $__________ x Avg Hrs Worked/Wk __________ hours = $ Earned/Wk $__________

Job 2
Real Hourly Wage $__________ x Avg Hrs Worked/Wk __________ hours = $ Earned/Wk $__________

Job 3
Real Hourly Wage $__________ x Avg Hrs Worked/Wk __________ hours = $ Earned/Wk $__________

Totals - add the figures above
$__________ (A) x Total Avg Hrs Worked/Wk __________ hours (B) = Total $ Earned/Wk $__________


Part 2

Total $ Earned/Wk
$__________ (A) / Total Avg Hrs Worked/Wk __________ hours (B) = Weighted Avg Real Hourly Wage $__________

Formula:

Weighted Average Real Hourly Wage = Total $ Earned Per Week/ Total Average Hours Worked per Week

Example:

Joan works at Job 1 an average of 20 hours per week and computes her real hourly wage as $10 per hour. She also works at Job 2 an average of 10 hours per week where her real hourly wage is $40 per hour. Her weighted average real hourly wage for her 30 hours per week is $20 per hour. (Total hours worked per week = 30. Total $ earned per week = $600. $600/30 = $20 per hour.)


This page was last modified on 31 March 2009, at 22:21. This page has been accessed 3,352 times.